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The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen Litigation Group, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

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Sunday, March 01, 2009

Comments

patriot247

One of the best sample of predatory loans is the Federal Students Loan.

Consumer Loan Software

It will be interesting to see if Durbin truly has the support to get this passed. It seems to have lost some steam over the last couple of months.

John Stovall

Capping interest rates at 36% is astounding. Credit card interest rates are at or fast approaching that now. Hasn't anyone heard of "usury"? 36% is usury. 25% is usury. The banking industry is beyond control. Their fees make their current rates of 30+% more like 40% or 50%. Laws from ancient times outlawed these rates. Senator Durbin needs to step back and consider how far he's out of step

Lou Wagner

This bill puts payday loan & title loan companies & in the same category of consumer loan companies.
Payday loans need strict regulation on the federal level. Consumer loan companies are highly regulated on the state level & should remain the same.
Insurance products are voluntary & serve a useful purpose. They should not be included in the APR.Only true finance charges & fees should be included.

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