Localities United

More Press on the Growing Number of Localities Calling for 36% Cap

admin — Fri, 14 Jan 2011 16:34:43 +0000

Bills recently introduced could put a cap on short-term loan interest rates.
By Megan Davis
Published: January 09, 2011
STAUNTON — Three years after the Virginia General Assembly issued mandates restricting short-term, high-interest loans, new bills to further regulate the industry are proposed for the upcoming legislative session.

99 Localities in Support of 36% Cap Since 2007

admin — Tue, 14 Dec 2010 16:51:35 +0000

This year, 65 localities have adopted the “Staunton II” Resolution that urges the Governor and General Assembly to end predatory lending in Virginia. Back in 2007, there was a similar effort against payday and car-title lenders in which 34 localities, including Richmond, signed a resolution to cap interest at 36% APR. When considered together, nearly 100 counties, cities, and towns throughout Virginia have supported resolutions to cap maximum interest at 36% APR for payday and car-title loans. These localities account for an overwhelming majority of the state population that is seeking legislation to end usury in the Commonwealth.

List of Supporting Localities Since 2007:
Albemarle County
Alexandria, City of
Allegheny County
Altavista, Town of
Amelia County
Amherst County
Appomattox County
Arlington County
Arlington, City of
Ashland, Town of
Augusta County
Bath County
Blacksburg, Town of
Bluefield, Town of
Bowling Green, Town of
Boydton, Town of
Bristol, City of
Carroll County
Charlottesville, City of
Chesapeake, City of
Chesterfield County
Christiansburg, Town of
Colonial Heights, City of
Covington, City of
Culpeper, Town of
Dillwyn, Town of
Duffield, Town of
Emporia, City of
Essex County
Fairfax, City of
Farmville, Town of
Fluvanna County
Franklin City
Franklin County
Frederick County
Front Royal, Town of
Gloucester County
Greene County
Grottoes, Town of
Hampton, City of
Harrisonburg, City of
Henrico County
Henry County
Highland County
James City County
Kilmarnock, Town of
King and Queen County
Leesburg, Town of
Lexington, City of
Louisa County
Luray, Town of
Lynchburg, City of
Marion, Town of
Martinsville, City of
Mathews County
Middleburg, Town of
Montgomery County
Montross, Town of
Narrows, Town of
Nelson County
Newport News, City of
Norfolk, City of
Northampton County
Northumberland County
Nottaway County
Pearisburg, Town of
Petersburg, City of
Pocahontas, Town of
Poquoson, City of
Pulaski County
Quantico, Town of
Radford, City of
Richmond, City of
Roanoke County
Roanoke, City of
Rockbridge County
Rocky Mount, Town of
Rural Retreat, Town of
Scott County
Shenandoah, Town of
Smithfield, Town of
South Boston, Town of
St. Paul, Town of
Stanley, Town of
Staunton, City of
Strasburg, Town of
The Plains, Town of
Timberville, Town of
Warren County
Warrenton, Town of
Washington County
Waverly, Town of
Waynesboro, City of
White Stone, Town of
Williamsburg, City of
Winchester, City of
Wythe County
Wytheville, Town of
York County

Delegate Glen Oder Introduces 36% Bill in House

admin — Mon, 06 Dec 2010 15:12:57 +0000

Delegate Glen Oder of Newport News prefiled HB 1441 that, if passed, will cap the interest rate on payday loans, car-title loans, and open-ended credit at 36% APR. With Republican Delegate Oder and Democratic Senator Locke both introducing 36% bills, it is undeniable that predatory lending is a bipartisan issue in Virginia. House Bill 1441 will be voted on in the Commerce and Labor Committee in January.

Senator Locke Introduces 36% Bills

admin — Mon, 22 Nov 2010 14:58:35 +0000

Senator Locke of Hampton introduced two bills supporting the end of predatory lending in Virginia. Senate Bill No. 752 repeals provisions of the Payday Loan Act that allow for verification or loan fees and limits the annual interest rate of payday loans to a maximum of 36%. Senate Bill No. 751 caps the interest rate of car title loans at 36% APR. Both bills were introduced by Sen. Mamie Locke on November 17th, and will be voted on by the Senate Committee of Commerce and Labor in January 2011.

Support Continues to Grow

admin — Tue, 26 Oct 2010 17:40:25 +0000

Three more localities adopt an anti-predatory lending resolution. The Town of Altavista voted to support a resolution October 12th, followed by the City of Emporia on October 19th, and the Town of Ashland on the October 21st. With the number of supporting localities surpassing sixty, it is evident that the movement is accelerating as we approach the next legislative session of the General Assembly in January 2011.

Warren County Unaminously Adopts Resolution

admin — Thu, 21 Oct 2010 17:43:49 +0000

Warren County unanimously adopted a resolution on Tuesday to support the end of usurious lending in Virginia. This resolution adds to the nearly sixty other local resolutions asking legislators to discuss predatory lending in the next session of the General Assembly.

For more information, check out the article from Northern Virginia Daily.

NVDaily – Warren County Adopts Resolution

The Number of Supporting Localities Climbs to Fifty-Eight

admin — Thu, 14 Oct 2010 14:22:06 +0000

The number of localities with an anti-predatory lending resolution nears sixty with the additions of Highland County, Northampton County, the City of Roanoke, and the City of Martinsville. Staunton’s Bruce Elder hopes to have the support of one-hundred localities by December.

Arlington Adopts Resolution

admin — Mon, 11 Oct 2010 17:14:36 +0000

Arlington adopted a “Resolution in Opposition to Predatory, Usurious Lending Practices in Virginia” on September 28th. This resolution is key in gaining the support of Northern Virginia in the fight against predatory lenders.

http://www.arlingtonva.us/departments/CountyBoard/page78374.aspx

Statewide Organizations Join the Movement to End Usury in Virginia

admin — Thu, 07 Oct 2010 14:02:35 +0000

Virginia Municipal League, Virginia Organization of Counties, and Virginia First Cities set to support Bruce Elder’s resolution. These statewide organizations will power the movement to end usury in Virginia, and make the issue of predatory lending unavoidable in the 2011 General Assembly.

http://www.whsv.com/news/headlines/Local_Predatory_Lending_Resolution_Receives_Statewide_Endorsements_104443844.html

Christiansburg, Montgomery County, and Henry County Support “Staunton II” Resolution

admin — Wed, 29 Sep 2010 17:37:01 +0000

In the past couple weeks, three localities have joined the movement against predatory lenders. The City of Christiansburg adopted a resolution on September 21, followed by Montgomery County on the 27th, and Henry County on the 28th. With the number of supporting localities quickly surpassing fifty, “Staunton II” is gaining widespread awareness throughout the state. As the movement continues to build, it is vital that these localities contact their state legislators to gain their support.

Looking forward, the City of Martinsville is set to discuss a resolution on October 12th, and James City County will consider a resolution later this year.

Learn more about the success in Henry County.

http://www.martinsvillebulletin.com/article.cfm?ID=25479