50-State Survey Finds Larger Loans Need Lower Rates
Everything that is wrong with a high-cost loan is only made worse when the loan is larger and the terms are longer.
Read More about 50-State Survey Finds Larger Loans Need Lower Rates
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Everything that is wrong with a high-cost loan is only made worse when the loan is larger and the terms are longer.
Read More about 50-State Survey Finds Larger Loans Need Lower Rates
Senator Jack Reed (D-RI) introduced the Predatory Lending Elimination Act, which extends to veterans and all consumers the 36% annual percentage rate cap found in the Military Lending Act and prevents the use of junk fees to hide high-cost loans.
Read More about Senate Introduces 36% Rate Cap Bill to Curb High-Cost Loans, Junk Fees
Clear Rate Caps that Prevent Evasions are Critical to Protecting Consumers from Unaffordable Loans
New Policy Briefs from CRL and NCLC recommend protections to shield consumers from abusive fintech cash advances.
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Consent orders target SoLo Funds platform offering loans as high as 511%-4,280% APR WASHINGTON – Advocates applauded new consent orders from California, Connecticut, and the District of Columbia that block the fintech payday loan website SoLo Funds from offering unlicensed payday loans that use “tips” and “donations” to conceal annual percentage rates (APRs) of 511%…
Read More about CA, CT, DC Issue Orders Against Fintech Payday Loans that Solicit “Tips”
Proposed rule would require lenders to comply with California law, but triple-digit interest rates could remain.