Airing during NPR’s Morning Edition on Mar. 30, 2023, Lauren Saunders talks about Apple allowing some iPhone users to pay for purchases up to $1,000 in installments using Apple Pay Later. Buy now, pay later loans can be tricky, said Lauren Saunders, associate director at the National Consumer Law Center. “They can make things look…
Read More about NPR: Apple rolls out Apple Pay Later — a buy now, pay later service
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…
This is an outdated report.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…
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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