U.Va. Law School Panel Examines Payday Lending: Exploiting the Poor or Enhancing Access to Credit?

WHAT: Panel discussion exploring legal and policy issues of “Payday Lending”

WHEN: Wednesday, Nov. 1, 12 p.m.

WHERE: U.Va. School of Law, Caplin Pavilion

Payday lending is a rapidly growing industry that some view as legal loan sharking and others as an important tool for consumers to obtain cash loans quickly. While several states have never authorized payday lending, other states, where it was once permitted, now prohibit such transactions entirely. In the majority of states, including Virginia, payday lenders are regulated to some degree, but there are frequent legislative battles between consumer groups and industry about the direction of government regulation.

Please join our expert panel for a discussion and Q & A session about legislation now pending in Virginia that may radically alter payday lending in the commonwealth. The panelists include:

•    Daniel Nagin, assistant professor of law and director of the Family Resource Clinic at the U.Va. School of Law, who will serve as the panel moderator;

•    Jay Speer, executive director of the Virginia Poverty Law Center and a leading consumer advocate;

•    Michele Satterlund of Macaulay & Burtch, P.C., a Richmond-based law firm, who represents the payday lending industry before the Virginia legislature; and

•    Virginia senator Creigh Deeds (D), whose district includes Charlottesville and several nearby counties and who was a candidate for Virginia attorney general in 2005.

The event is free and open to the public. This event is sponsored by the Family Resource Clinic, the American Constitution Society for Law and Policy and the Federalist Society.


For more information about the event and parking for media, please contact Emily Williams, Web and publications assistant, at (434) 962-0078 or ew2k@virginia.edu.