: News

Filed Under:

General Assembly To Drive Down Interest Rates

Play associated audio

By Bill Redlin

A legislative panel will continue its work in hopes of reaching a compromise on how to regulate car title lenders before the general assembly returns Jan. 13th. The lenders are unregulated in Virginia. They operate under the open-end credit law, which allows them to charge unlimited interest after a 30-day grace period. Most charge around 300 percent annual finance charges, and they repossess the borrower's vehicle if he can't repay the loan.

Advocates and some lawmakers hope to cap the interest the lenders can charge, and to limit the amount of time the loan can be outstanding. The industry argued at the meeting Monday that those changes would put them out of business.

Car title lenders have left most states that have enacted interest rate caps.

NPR

How Do You Spot A Nonconformist? You Can Start With Their Internet Browser

According to Adam Grant, a person's preferred browser is one way to tell whether they accept or reject the defaults in their life. His new book is called Originals: How Non-Conformists Move the World.
NPR

Calif. Restaurant Gives Diners Ocean View — Up Close

The Marine Room is a restaurant right on the beach. When the tide is high, waves will literally hit the windows.
NPR

Clinton And Sanders Test New Campaign Tactics Ahead Of New Hampshire

Hillary Clinton is trailing Bernie Sanders in New Hampshire. The way they're campaigning in that state ahead of Tuesday's primary tells you something about how they're positioned in the race.
NPR

Super Bowl 50 Tightens Cybersecurity

This year's Super Bowl will be held in the most technologically advanced stadium in the world. FBI special agent John Lightfoot talks to NPR's Rachel Martin about the threat of cyber attacks.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.