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Virginia Interest Rates

Orrick, Herrington & Sutcliffe LLP

Virginia governor vetoes law that would have restricted fintech lending

On March 25, Virginia Governor Glenn Youngkin vetoed a bill, SB 1252, which would have subjected persons “[m]aking, offering, assisting, or arranging a debtor to obtain a loan” to the state’s 12 percent usury limit. The bill...more

Sheppard Mullin Richter & Hampton LLP

Virginia Governor Vetoes Rate Cap and AI Regulation Bills

On March 25, Virginia Governor Glenn Youngkin vetoed two bills that sought to impose new restrictions on “high-risk” artificial intelligence (AI) systems and fintech lending partnerships. The vetoes reflect the Governor’s...more

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