Payday & Installment Loans Archives

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High-Cost Credit

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Small Dollar Loan Products Scorecard

May 10, 2010

Scorecard Shows Consumers Pay Steep Rates for Small Loans: Financial Reform Should Include a Strong Consumer Financial Protection Agency

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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.

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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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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…

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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…

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All

High-Cost Credit

Small Dollar Loan Products Scorecard

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

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

Support NCLC