Senator Sanders to introduce bill imposing 15% or lower consumer credit interest rate cap
CFPB Monitor
MAY 16, 2019
Prevailing interest rate levels threaten the safety and soundness of individual lenders, as evidenced by adverse trends in liquidity, capital, earnings, and growth.”. These usury statutes have authorized banks to charge whatever interest rate is authorized under state law to any other lender located in the bank’s home state.
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