Tag Archives: Virginia Bureau of Financial Institutions

Virginia Bureau of Financial Institutions Reports to General Assembly on Internet Lending Study and Plans for Legislation in the 2018 Session

The Virginia Bureau of Financial Institutions (the “Bureau”) recently sent members of the House and Senate Commerce and Labor Committees a letter reporting on the work of the legislative working group that met this year at the request of the legislature to examine issues related to consumer finance companies, internet lending, and open-end credit lenders. The letter states that the Bureau plans to develop proposed legislation for the 2018 session convening in January based on the study group meetings. The key takeaways from the Bureau’s letter are as follows: The Bureau states that a “vast majority” of the study group …

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