Installment Loans: Will States Protect Borrowers from a fresh Wave of Predatory Lending?

Installment Loans: Will States Protect Borrowers from a fresh Wave of Predatory Lending?

This National customer Law Center study analyzes the talents and gaps regarding the statutes in 50 states and Washington, D.C. collier homme bonnegueule That regulate installment loans, market this is certainly anticipated to develop as restrictions on pay day loans enhance.

Published: July 2015, Nationwide Customer Law Center

Key Recommendations Download Maps, Charts, & Tables (PDF) (also B/W variation) down load Appendices (PDF)
Appendix A (Comprehensive APR tables for 6-month $500 loan)
Appendix B (Comprehensive APR tables for 2-year $2000 loan)
Appendix C (Summaries of state closed-end installment loan statutes)
Appendix D (Summaries of state open-end credit statutes)
Appendix E (Unconscionability conditions of state closed-end
installment loan regulations) news release

Additional Resources

  • Tiny Dollar Loan Products SCORECARD & Statutory Backup – improve: Scorecard programs Consumers Pay Steep Rates for Small Loans, might 2010
  • Why Cap Small Loans at 36per cent?
  • Usury legislation prohibiting loan providers from charging you borrowers excessively high interest levels on loans

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