It should be illegal to have credit card interest rates over 19.99%. Even that is high.
Many people did not get educated on credit cards growing up but they do get plenty of enticing offers.
Payday loans should also not exist yet skirt the federal regulations since most of the payday loans businesses are incorporated in or based in Indian reservations.
CCCs are really a form of high risk microloan products. As such the “high” APRs are justified. I think federal regulations do put a cap on the APR on loan products, but it’s still high af but not to the point of usury (ie, 100% APR)
No no, everything is fine. Fed told me inflation is down, and the Treasury says GDP is great and jobs are up.
They wouldnt lie, would they?
They weren’t lying, they just need to privatize a few more “failing” public sectors and we should be all set.