Predatory lenders utilize 'rent-a-bank' schemes to bypass state-level interest rate caps, allowing them to charge interest rates of 100 percent or more in states that have established strict small-dollar loan rate caps of 36 percent.

Authors

• Person: Not available Organization: Maine Center for Economic Policy
  Predatory Lending — An Explainer - MECEP

Sources

• Predatory Lending — An Explainer - MECEP www.mecep.org Maine Center for Economic Policy via serper

Referenced by nodes (1)

• predatory lenders concept