Tag Archives: State regulation

Virginia General Assembly to Consider Legislation Impacting Online Lending in 2017 Session

Legislation affecting online lending will be among the bills the 2017 Virginia General Assembly considers when it convenes on January 11th for its regular session. Delegate Peter Farrell has prefiled two bills that would impose new licensing requirements and fee limitations on such loans. Similar bills are expected to be introduced by other members of the General Assembly. These measures have the support of the Virginia Bureau of Financial Institutions (the “Bureau”), the Virginia Attorney General’s office, and Legal Aid organizations, among others. With respect to Delegate Farrell’s bills, HB 1443 would subject any lender making consumer loans over the …

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