Payday lending industry; JLARC to study. (HJ168)

Introduced By

Del. Mark Sickles (D-Alexandria)


Passed Committee
Passed House
Passed Senate


Study; payday lending industry; report. Directs the Joint Legislative Audit and Review Commission (JLARC) to study the payday lending industry in the Commonwealth. In conducting its study, JLARC shall (i) examine the effectiveness of payday lending in meeting the credit needs of residents of the Commonwealth, (ii) if legislation is enacted in the 2008 Session of the General Assembly that provides for the establishment of a database for monitoring payday lending practices, examine the effects of the database on payday lending in the Commonwealth, and (iii) consider such other issues as it deems appropriate. Read the Bill »


Bill Has Failed


01/09/2008Prefiled and ordered printed; offered 01/09/08 080119736
01/09/2008Referred to Committee on Rules
02/12/2008Left in Rules


W V Jenner writes:

There is no reason to expend needless time (2 yrs. minimum)until 2010 to bring the results back to the G.Assy., to reach another "delaying decision" tactic. The "least amongst us" do not need this kind of help, but rather education on financial management & an alternate avenue to short-term lending at less than the rates being offered by Payday Lenders. The alternative is our hundreds of Credit Unions around the state.