Yes, Virginia, There is a Veto
AFSA’s State Government Affairs team sent a veto letter to Virginia Governor Glenn Youngkin regarding Senate Bill 1252, which would impose a 12% rate cap on consumer credit. AFSA urged the governor to veto SB 1252 to protect responsible lending and consumer access to credit.
AFSA warns that this bill would severely restrict access to credit for Virginians, especially those with lower credit scores, while creating uncertainty for lenders due to vague language. The bill’s anti-evasion provisions could also stifle legitimate lending and drive consumers toward unregulated, higher-cost alternatives.
AFSA urges the governor to veto SB 1252 to protect responsible lending and consumer access to credit.
This letter and other SGA letters can be found on the direct advocacy section of AFSA’s website.
March 3rd, 2025
