Exactly Exactly How Virginia’s 2020 Fairness in Lending Act Reforms Small-Dollar Loans Legislation closes regulatory loopholes, caps interest levels, and offers classes for any other states dining dining Table of articles Overview After many years of legislative efforts to foster a safe and viable marketplace for little loans, Virginia lawmakers in 2020 passed bipartisan legislation—the Fairness in Lending Act (S.B. 421/H.B. 789)—to prohibit loans with big last re payments, referred to as balloon re re payments, and reduce costs. Past…