Urge Governor Youngkin to Veto SB1252 and Preserve Financial Security and Economic Mobility

Many Virginian households already face an affordability crisis due to four years of high inflation and high interest rates. Senate Bill 1252 would make it worse by restricting access to lending options for Virginians when they need it most.

SB1252 would be particularly detrimental to Virginians who don’t have cash to meet an unforeseen need. They are largely young, female, and racial minorities. They depend on different forms of credit, such as short-term loans from fintech lenders, to cover expenses. When states impose limits on access to credit, consumers turn to costly alternatives that leave them more financially insecure. SB 1252 would backfire by erecting barriers to financial products that fulfill pressing needs for households. 

Urge Governor Youngkin to veto SB1252 today and preserve lending options in the Commonwealth of Virginia. Stand for Virginians’ financial security, economic mobility, and flexibility!