Tag Archives: Predatory Lending

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Cumberland Advisors Market Commentary – Financial Literacy & Predatory Lending

Author: David R. Kotok, Post Date: November 7, 2019
Financial Literacy & Predatory Lending

The Military Lending Act caps annual interest on loans to military members at 36% and offers other safeguards. Now, lawmakers are proposing to extend that protection to veterans and others. NPR reports: https://www.npr.org/2019/11/07/776769597/a-ban-on-high-cost-loans-may-be-coming How do people wind up with “High-Cost Loans” in the first place? If a lack of financial literacy is the cause, there […]