RICHMOND — A handful of persistent Virginians, burned by triple-digit rates of interest to their online loans, won a groundbreaking national settlement that is designed to shut a loophole that let loan firms pretend to be indigenous Americans to skirt state loan-sharking regulations.

The settlement, authorized Wednesday by U.S. District Judge Hannah Lauck, wipes out some $380 million of debts owed by one or more million individuals around the world. Continue reading “Historic settlement sees lenders that are online away $380 million with debt. Virginians led the way in which.” →