Model Family Financial Protection Act
The Model Family Financial Protection Act protects consumers from the most common abuses in the credit and collections industries, restoring balance to an increasingly lopsided system of justice.
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Fact Sheet: State Annual Percentage Rate (APR) Caps for $500, $2,000, and $10,000 Installment Loans
A summary of the U.S. states that cap the maximum annual percentage rate (APR) on small - to mid-size installment loans.
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Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2022)
Forty-five states and the District of Columbia (DC) currently cap interest rates and loan fees for at least some consumer installment loans, depending on the size of the loan. However, the caps vary greatly from state to state, and a few states do not cap interest rates at all.
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Predatory Installment Lending in the States: A Larger and Longer Debt Trap? (2018)
Analysis of States’ APR Caps for a $10,000 five-year Installment Loan Everything that is wrong with a high-cost loan is only made worse when the loan is larger and longer. Even when the interest rate is lower than for a short-term payday loan, a larger, longer high-cost loan can be a deeper, longer debt trap.…
Read More about Predatory Installment Lending in the States: A Larger and Longer Debt Trap? (2018)
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Predatory Installment Lending in the States: States Battle to Restrain High-Cost Loans (2017)
When the National Consumer Law Center published the report Installment Loans: Will States Protect borrowers From a New Wave of Predatory Lending? in July 2015, predatory installment lenders were moving into the states, seeking statutory authority to make consumer installment loans at sky-high interest rates. The report analyzed which states allowed high-cost installment lending and…
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Past Imperfect: How Credit Scores and Other Analytics “Bake In” and Perpetuate Past Discrimination
Credit reports and scores reflect stunning racial disparities. Study after study has found that Black and Latino communities have lower credit scores as a group than whites and Asians. The racial disparities in credit scores are due to deep structural factors, created by centuries of intentional and legalized discrimination as well as present-day biases.
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Installment Loans: Will States Protect Borrowers from a New Wave of Predatory Lending? (2015)
This National Consumer Law Center survey analyzes the strengths and gaps of the statutes in 50 states and Washington, D.C. that regulate installment loans, a market that is expected to grow as restrictions on payday loans increase.
