There is absolutely no federal usury limitation for short-term, small-dollar loans, and federal legislation expressly forbids the CFPB from developing usury limitations

There is absolutely no federal usury limitation for short-term, small-dollar loans, and federal legislation expressly forbids the CFPB from developing usury limitations 28 Congress, nonetheless, did pass legislation capping both the attention speed additionally the charges, or the APR, for customer loans agreed to armed forces workers. 29 The Military Lending work of 2006 (MLA; […]