PAYDAY LENDER LICENSEES CHECK CASHERS

Chapter 18 of Title 6.1 of the Code of Virginia, the “Payday Loan Act”, became effective July 1, 2002. The Act requires non-exempt persons wishing to engage in business as a payday lender to first obtain a license from the Commission. A payday loan is defined as a small, short-maturity loan on the security of (i) a check, (ii) any form of assignment of an interest in the account of an ... ................
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