Interest rate caps are popular—for good reason

Source: Tom Feltner, The Hill

A recent Center for Responsible Lending poll revealed that 70 percent of voters approve of limiting interest rates on consumer loans to 36 percent interest. The poll’s findings, along with the passage of various ballot initiatives across the country, suggest broad support across party lines for the idea that sky-high interest rates sap wealth from communities.

Thankfully, Congress has taken steps to introduce a common-sense and state-tested rate cap of 36 percent annual interest while not preempting states with lower caps... 

Read Full Article: Interest rate caps are popular—for good reason

 

Tags/Keywords

 

Search

Quick Menu

Facebook FTwitter T
 

Consumer Help Desk

Advocacy