Anti-Payday Lending Group Seeks CU Partnership; Says it's Rebuffed
NEWPORT NEWS, Va. -- Virginians Against Payday Loans (VAPL) have challenged credit unions in the state and nearby Washington, D.C. to get serious in the fight against payday lending and check cashing operations. In particular, VAPL founders Mike Lane and Ward Skull have singled out the Virginia Credit Union League for "remaining above the fray while predatory lenders market themselves as reputable financial institutions."
While VAPL hasn't been around very long, the organizers are dedicated to putting a coalition together that will forcefully lobby the state legislature to place a cap on payday loans and create a viable loan alternative. They've taken issue with the Virginia league because its lobbyist, Richard "Reggie" Jones also lobbies for payday lenders.