Here's an interesting news which I would like to share with you.
The State of West Virginia has banned payday loans. The State's Attorney General has resolved to file a case against online payday loan lenders if they are found doing business with residents of the state. The government has taken this decision to protect the citizens from payday loan traps.
Apparently, a West Virginia Attorney has filed lawsuits against 8 payday loan companies which have declined to cooperate and help him in his investigation. These payday lenders have been asked to submit their West Virginia-based accounts to the court and stop lending activities in the state.
Hopefully, this new law will provide more protection to consumers of West Virginia.
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