“Governor Youngkin’s decision to veto SB 1252 protects access to safe, responsible credit for hundreds of thousands of Virginians. The bill, while well-intentioned, would have created unnecessary barriers for consumers seeking flexible financial tools and introduced legal uncertainty for responsible providers. AFC has been deeply engaged on this issue from the start—meeting with lawmakers, submitting formal comments, and mobilizing a coalition of responsible providers to raise concerns about the bill’s impact.

“This veto reflects a thoughtful and pragmatic approach to regulation—one that puts consumers first without stifling responsible innovation. AFC thanks Governor Youngkin for standing up for financial inclusion and recognizing the importance of maintaining a diverse and competitive credit marketplace in Virginia. We remain committed to working with lawmakers in Virginia and across the country to ensure policy solutions reflect the realities of today’s financial landscape.”