Usury laws protect borrowers in many states and some borrowers nationwide from being charged excessively high interest rates. However, state standards for excessive interest vary widely, and federal banking laws let credit card issuers, among others, charge essentially whatever the … Continue reading → The post How Usury Laws Regulate Loan Interest Rates appeared first on SmartAsset Blog.
Some lenders and retailers have a pretty neat business model: You pay them before your wages ever hit your bank account. And sometimes they give you no choice.
On the eve of FDIC’s Community Reinvestment Act examination of TAB Bank, advocates file petition with 44,500+ signatures and analysis of consumer complaints showing deception, debt collection and credit reporting harms from loans up to 189%
New research reveals how costly car repairs are now ballooning into a new form of predatory lending. And just like other forms of financial exploitation, consumers are feeling duped and deceived about related costs and the length of time it takes to pay off these bills.