Predatory lending with interest rates that average 400% a year is endemic in America with over fifteen thousands stores ripping off those who could least afford it. I don't know why existing Usury laws aren't keeping rates like this from being charged, but whatever the reason, these laws must be tightened and or established to prevent this highway robbery!
Why is this important?
Exclude predatory Payday lenders from exploiting middle class & poor borrowers by charging obscene interest rates as high as 400%. Re-establish Usury laws to reasonable returns and enforce the laws.
