
Push on to limit interest rates on payday, car-title loans
Former Gov. Tim Kaine signed a much-trumpeted reform of payday lending in 2008, but loopholes in the industry-written law were quickly exploited by lenders, who have since moved on to other high-interest loan products that have proven to be highly marketable in the midst of the ongoing economic slowdown. Staunton City Councilman Bruce Elder led…