Synchrony's Planned Rate Hike Unjustified, Advocates Say
Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.
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Bland v. Carolina Lease Management Group et al
Bland v. Carolina Lease Management Group et alU.S. District Court Case No. 4:22-CV-33-BO (E.D.N.C.)Court of Appeals, 4th Cir., Case No. 23-1367 This class action challenges exploitative rent to own contracts. Plaintiffs entered into separate rent to own contracts for storage sheds with Carolina Lease Management Group. The agreements provided that after 4 years of monthly…
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Carolina Lease Management Group v. Greene
Carolina Lease Management Group v. GreeneNo. 21 CvD 134 (Jones Cty. Super. Ct., N.C.) This case involves a class counterclaim filed in response to a replevin action. The counterclaim alleges that Mr. Greene and hundreds of others like him entered into a rent to own contract for storage sheds with Carolina Lease Management Group. The…
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Testimony in Support of Rhode Island H 7941 Opting Out of DIDCMA
NCLC submitted testimony supporting Rhode Island H 7941, which exercises the state’s right under the Depository Institutions Deregulation and Monetary Control Act of 1980 to opt out of interest rate exportation by state-chartered banks. The bill will restore Rhode Island’s ability to apply its usury laws to prevent predatory rent-a-bank lending.
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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.
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Larger Loans Need Lower Rates: A 50-State Survey of the APRs Allowed for a $10,000 Loan
This report surveys the interest rates and loan fees allowed by all 50 states and the District of Columbia for an unsecured 5-year installment loan of $10,000.
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