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Attorney General of Virginia. HERRING WARNS VIRGINIANS ABOUT DANGERS OF PREDATORY LOANS

Attorney General of Virginia. HERRING WARNS VIRGINIANS ABOUT DANGERS OF PREDATORY LOANS

Even loans that are lawful be economically high-risk and trap customers in a financial obligation period whether released online or by a payday or vehicle name loan provider

RICHMOND National that is—During Consumer Week, Attorney General Mark R. Herring is motivating Virginians to familiarize by themselves aided by the dangers related to small-dollar loans including online, payday, vehicle name, and open-end loans, also to comprehend their liberties whenever taking right out one of these brilliant possibly high-risk loans. In 2017, about 96,000 Virginians took away significantly more than 309,000 payday advances totaling almost $123 million with a normal apr of 254%.

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