I will also establish a ban on pay-day lending that siphons off the hard-earned wages of too many working Virginians. I applaud the payday lending reforms passed in the 2008 and 2009 sessions by the General Assembly, and as Governor, I will continue this progress. As Governor, I will take the next step by banning all types of predatory lending, like open-end loans and car-title loans. (emphasis original)I have not decided who I am going to vote for this primary (I have my leanings), but I do like that McAuliffe is offering business plans which positively affect the Southside and, like me, he wants to end the predatory practice of pay-day lenders.
Thursday, April 2, 2009
McAuliffe on Pay-day lending
Today gubernatorial candidate Terry McAuliffe offered the third part (of six) of his economic business plan for Virginia. In general, the plan offers McAuliffe's positions on health care, education, and retirement savings. But the very last thing McAuliffe offers is a plan to ban pay-day lenders in the state: