National Usury Limit Could Reduce Number Of People Paying Debt Until They Die

National Usury Limit Could Reduce Number Of People Paying Debt Until They Die

For about 30 years, there has been effectively no limit on the interest rates lenders can charge. This means some loans—especially payday loans, tax refund anticipation loans, overdraft protection loans, and car title loans—can have effective interest rates as high as 3,500%.