Bland v. Carolina Lease Management Group et al
This class action challenges exploitative rent to own contracts for storage sheds.
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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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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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2023 Update: Some States Tighten Rules Against High-Cost Installment Loans; Others Increase Interest Rates and Allow Junk Fees to Pile On
Clear Rate Caps that Prevent Evasions are Critical to Protecting Consumers from Unaffordable Loans
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Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2023)
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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Credit Math Software
This page links to four different software programs to calculate credit math functions, including calculating an Annual Percentage Rate (APR), a Military Annual Percentage Rate (MAPR), and Rule of 78 rebates. Each program has different limitations, such as whether it is compatible with MacOS or iOS. Some of the programs deal with irregular payments better…
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Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2021)
This is an outdated report. For the most current version click here. Caps on interest rates and loan fees are the primary vehicle by which states protect consumers from predatory lending. 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…
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Why Cap Interest Rates at 36%?
Thirty-six percent is widely seen as the dividing line between affordable small-dollar loans and unaffordable, potentially predatory ones. Several states have capped interest rates at 36%, and Congress is considering doing so to stop the devastating impact that high-cost loans have on struggling families. But the question arises: Why 36%?
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Comments to the FDIC Regarding Parent Companies of Industrial Banks and Industrial Loan Companies
Consumer and civil rights groups write to strongly oppose the Federal Deposit Insurance Corporation (FDIC)’s proposed rule on Parent Companies of Industrial Banks and Industrial Loan Companies (proposal or proposed rule) as well as the agency’s approval of new ILC charters. While these actions raise a number of concerns, our comments focus on the dramatic…
