Random Feed wrote an interesting post today on
Here’s a quick excerpt
Senator Dick Durbin is attempting to limit the credit options of millions of Americans. I for one am outraged, and you should be too. The proposed “Protecting Consumers from Unreasonable Credit Rates Act” will put a federal interest rate cap on all loans at 36% APR. What does this mean to you and me? Well, nothing, unless you have ever needed short-term credit like a cash advance.Credit is a simple thing to understand. For whatever reason, it is almost completely avoided in schools and practical

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Random Feed wrote an interesting post today on
Here’s a quick excerpt
Senator Dick Durbin is on a quest to kill payday loans . His legislation, “Protecting Consumers from Unreasonable Credit Rates Act,” proposes a federal interest rate cap of 36% on all loans. His support for the bill is of course weak and unfounded. Less than 3% of American families use payday loans. I think Durbin should try and find another scape goat for our economic woes. Also, over 90% of repeat borrowers pay their loans back on time. That’s a far cry from bankruptcy. A Clemson

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