The Truth About State-Imposed 36% APR Caps
By: Jer Ayles – Trihouse Consulting. The continuing trend of states imposing a 36% APR cap on payday loans is touted as a consumer protection measure. However, this well-intentioned policy has unintended consequences that actually harms the very people it aims to help. Let’s explore why payday loan products are better than the state implementing […]
Must-Read: The Hidden Consequences of the Senate’s 36% APR Loan Cap Bill!
Predatory Lending Elimination Act (S. 3549) Analyzing the Impact of the Proposed 36% APR Cap on Consumer Loans IntroductionThe U.S. Senate is considering a significant legislative move that could redefine the consumer lending landscape in America. The “Predatory Lending Elimination Act” seeks to implement a nationwide 36% annual percentage rate (APR) cap on all loan […]