Interest Rate, Usury & Other Credit Laws Archives

Overturn the OCC's "Fake Lender" Predatory Lending Rule

March 15, 2021

Since the American Revolution, states have limited interest rates to stop predatory lending. But predatory lenders are starting to launder their loans through banks to evade state laws that make loans up to 179% APR illegal (Bank loans are generally exempt from state rate caps). A rule by the regulator of the nation’s largest banks…

Group Comments to the FDIC Regarding Small-Dollar Lending

January 22, 2019

Comments submitted in response to the FDIC’s Request for Information on Small-Dollar Lending

Federal Ability-To-Repay Requirements for Small Dollar Loans

November 1, 2021

Underwriting for the ability to repay is at the core of responsible lending. For small-dollar lending and other forms of non-mortgage lending, these are some of the applicable federal statutes, regulations, and guidances that address appropriate underwriting to ensure responsible lending.

Fact Sheet: State Annual Percentage Rate (APR) Caps for $500, $2,000, and $10,000 Installment Loans

December 18, 2025

A summary of the U.S. states that cap the maximum annual percentage rate (APR) on small - to mid-size installment loans.

Comments to the FDIC Regarding Small Dollar Lending

January 22, 2019

Comments of the Center for Responsible Lending and National Consumer Law Center (on behalf of its low income clients), joined by Americans for Financial Reform Education Fund, The Leadership Conference on Civil and Human Rights, and NAACP in response to the FDIC’s request for information (RFI) on small-dollar lending

Comments to NCUA Regarding CUSO Proposed Rule

April 30, 2021

Comments to the National Credit Union Administration re: Comments on Proposed Rule: Credit Union Service Organizations (CUSOs), RIN 3133-AE95

Comments on FDIC Notice of Proposed Rulemaking, Federal Interest Rate Authority

February 4, 2020

Comments by NCLC, Consumer and Civil Rights Groups to FDIC re: Comments on FDIC Notice of Proposed Rulemaking, Federal Interest Rate Authority, 12 CFR Part 331, RIN-3064-AF21

Coalition Letter Supporting the Veterans and Consumers Fair Credit Act

July 29, 2021

Coalition Letter to the Committee on Banking, Housing, and Urban Affairs re: Support for Veterans and Consumers Fair Credit Act

Amicus Brief in David Petersen, Et Al v. Chase Card Funding, LLC

February 7, 2020

Amicus Brief by the National Consumer Law Center and the Center for Responsible Lending supporting neither party in David Petersen, et al v. Chase Card Funding, LLC, Chase Issuance Trust, and Wilmington Trust Company, as Trustee of Chase Issuance Trust filed with the U.S. Western District Court of New York

High-Cost Credit

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2022)

June 28, 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.

50-State Survey: State Predatory Lending Laws Show Significant Changes

June 22, 2022

June 22, 2022 NCLC’s Review of State Consumer Protection Laws Sees States Gaining, Losing Protections for Popular $2,000 Two-Year and $500 Six-Month Installment Loans WASHINGTON – A new report from the National Consumer Law Center finds progress toward a 36% APR cap for common short-term and longer-term loans in some states. In states that allow…

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