New Predatory Lending Study Backs Case for State Controls
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| A new study indicates that legislators at the State House have passed some of the nation’s strongest and most successful laws against predatory lending. |
By Andrea Gregory
Although predatory lending costs American consumers an estimated $9 billion per year, nearly half of U.S. states have no safeguards in place to stop abusive lending practices. However, according to a new study, laws designed to protect consumers against predatory lending are making a difference in states that have enacted such legislation without limiting access to credit.
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