Staunton city council member Bruce Elder has led reform to put an end to what he, and many others, call predatory lending.

His efforts have made progress in the General Assembly, but Elder says it's not enough.

"This is not reform, this is shuffling paperwork," adds Elder.

Loopholes still exist that allow some payday lenders to set interest rates up to 300 percent of the original loan.

Elder thought convincing legislators to approve a 36 percent interest rate cap would be easy, but he was wrong.

He says, "I underestimated it, and I am very sad about that."

On Tuesday, Elder's new payday resolution received endorsements from several state groups, including the Virginia Municipal League.

He believes it could change everything.

"When [legislators] see it's their hometown or home county that has taken this stand, it will be impossible to ignore," Elder adds.

Virginia First Cities and the Virginia Organization of Counties are also backing Elder's resolution.

Elder believes their support will convince legislators to close predatory lending loopholes at their next session.

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