5Dec, 2020

Historic settlement sees lenders that are online away $380 million with debt. Virginians led just how.

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Historic settlement sees lenders that are online away $380 million with debt. Virginians led just how. RICHMOND — A handful of persistent Virginians, burned by triple-digit interest levels on the online loans, won a groundbreaking national settlement that aims to shut a loophole that let loan firms pretend to be indigenous Americans to skirt state loan-sharking rules. The settlement, authorized Wednesday by U.S. District Judge Hannah Lauck, wipes out some $380 million of debts owed by several million individuals around the world. Lenders promised to eliminate all reference to those […]
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