Interest Rate, Usury & Other Credit Laws Archives

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…

What States Can Do to Help Consumers: High Cost Loans

March 15, 2022

The debt trap caused by short-term payday loans is well known. Payday and car title lenders are now increasingly moving into high-cost longer-term installment loans and lines of credit that can be a deeper and longer debt trap. Both short- and longer-term payday and title loans rely on high interest rates and coercive tactics to…

U.S. House Introduces 36% Rate Cap Bill to Curb High-Cost, Predatory Loans

November 17, 2021

November 17, 2021 Bipartisan bill enacts rate cap popular among voters of all stripes WASHINGTON – Advocates at the National Consumer Law Center applauded the introduction of the Veterans and Consumers Fair Credit Act (VCFCA) in the U.S. House of Representatives, led by Rep. Jesus “Chuy” Garcia (D-IL) and Rep. Glenn Grothman (R-WI). “Republican and…

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

July 29, 2021

FOR IMMEDIATE RELEASE: July 29, 2021 Washington, D.C. – Attorneys at the National Consumer Law Center praised the introduction yesterday of the Veterans and Consumers Fair Credit Act in the U.S. Senate, led by U.S. Senators Jack Reed (D-RI), Jeff Merkley (D-OR), Sherrod Brown (D-OH), and Chris Van Hollen (D-MD), along with seven other original…

National Consumer Law Center Advocates Praise U.S. House Vote to Repeal National Banking Regulator’s Predatory Lending Rule

June 24, 2021

OCC Rule Protects High-Cost Lenders that use Rent-a-Bank Schemes to Evade State Interest Rate Laws Washington, D.C. – Advocates at the National Consumer Law Center applaud the U.S. House vote to overturn the OCC’s “fake lender” rule, which allows predatory lenders to evade state interest rate laws by putting a federally-chartered bank’s name on the paperwork. The…

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

May 27, 2021

For Immediate Release: May 27, 2021 NCLC’s Review of State Consumer Protection Laws for a $2,000 Two-Year Installment Loan and $500 Six-Month Loan View the full report, with maps for the District of Columbia and each state’s APRs for two types of installment loans, tables outlining changes since the 2020 report, and a complete list…

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

What States Can Do to Help Consumers: High Cost Loans

U.S. House Introduces 36% Rate Cap Bill to Curb High-Cost, Predatory Loans

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

National Consumer Law Center Advocates Praise U.S. House Vote to Repeal National Banking Regulator’s Predatory Lending Rule

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

Support NCLC

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

What States Can Do to Help Consumers: High Cost Loans

U.S. House Introduces 36% Rate Cap Bill to Curb High-Cost, Predatory Loans

​NCLC ​Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation

National Consumer Law Center Advocates Praise U.S. House Vote to Repeal National Banking Regulator’s Predatory Lending Rule

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

Support NCLC

NCLC Advocates Applaud 36% National Rate Cap Bill to Curb High-Cost, Predatory Loans Across the Nation