Weekly update of my legislative agenda issue. Big news on the payday lending issue came yesterday. At a morning press conference, it was announced that legislators had reached a compromise on this. (Not just GOP legislators, Brian.) Key legislators from both parties in the House of Delegates have signed onto a compromise to regulate payday … Continue reading Tuesday update (02/05): Payday lending →

Weekly update of my legislative agenda issue. Still no action on any of the payday lending legislation I previously listed. It appears that the conversation is continuing on reaching a compromise. In the meantime, take a look at this article from The Virginian Pilot. Lenders are targeting middle-income neighborhoods, usually near shopping malls, and avoiding … Continue reading Tuesday update (01/29): Payday lending →

Weekly update of my legislative agenda issue. There has been no action on any of the payday lending legislation I previously listed. According to The Daily Press, both sides of the debate were supposed to have had a meeting last Saturday to try to hash out some compromise. Of course, having the second largest payday … Continue reading Tuesday update (01/22): Payday lending →

Weekly update of my legislative agenda issue. Once again, not much to report except committee assignments. Nearly all of the bills are in the HC&L (House Commerce & Labor) committee or the SC&L (Senate Commerce & Labor) committee. The HC&L committee meets Tuesdays and Thursdays, 1/2 hour after adjournment, while the SC&L committee meets Mondays, … Continue reading Tuesday update (01/15): Payday lending →

I mentioned in an earlier post that I was going to roll out my legislative agenda. This is the second in the series. Payday lending is another issue that has been the topic of discussion throughout the country. The following video could have just as easily been made in Virginia. From a Virginian Pilot editorial: … Continue reading My legislative agenda: Payday lending →

Del. Glen Oder (R-NN) has introduced a bill calling for a 36% cap on interest rates for payday lenders. I'm not going to rehash all I've written about payday lending; suffice it to say that putting these lenders under the same regulation as other lenders is a step in the right direction. Contact your legislators, … Continue reading Payday lending regulation back on the table →

Delegate Ken Melvin (D-80th) has been named the Legislator-Advocate of the year by the Virginia Interfaith Center for Public Policy. According to Thursday's Virginian Pilot, "Melvin's work on payday lending as well as the House Courts Committee merited the award." Melvin will be recognized at the 2007 Annual meeting of the organization, which will be … Continue reading Melvin legislator-advocate of the year →

That is the title of the Daily Press editorial today. The cause of the misery? Pay day lending. The state legislators who are so willing to do the bidding of a predatory business should check the latest evidence. The numbers for 2006 are in, and what they reveal is that the amount of misery and … Continue reading “Massive misery” →

The last chance for pay day lending reform in the House died Tuesday afternoon when HB2563 was stricken. With the McClellan amendment, interest rates were capped at 72%, double that allowed for other consumer loans. "You can't make your payroll on that kind of return," [bill patron Del. Lee] Ware said. OK, so they don't … Continue reading Payday lending bill dead →