2009.07.03
Editorial: Car title loans
Loan shark repellent
A fair product for short-term loans is needed.
A General Assembly panel began work this week to determine what, if anything, to do about car title lenders charging 300 percent interest to people who can least afford it. The panel needn't labor long; the solution is easy: Ban these types of loans. Or at the very least require that they charge no more than the 36 percent interest limitation imposed on other types of lenders.
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