More on the Proposed Safe Lending Act

by Jeff Sovern

Earlier in the week I linked to a Times editorial, Bleeding the Borrowers Dry, about the practice of online payday lenders of lending to consumers in states that bar the kinds of high-interest rate loans payday lenders provide.  Here is a link to my letter in the Times about the prospects of a bill that would block payday lenders from charging higher rates than allowed in the state the borrower lives in. 

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