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Maine senator calls for crackdown on 'snake oil and fine print' payday loans

Maine senator calls for crackdown on ‘snake oil and fine print’ payday loans
State Sen. Rick Bennett of Oxford calls for limits on how much lenders can charge for short-term loans to hard-pressed Mainers.
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The effective U.S. payday loan interest rates, by state, for a $300 loan. In Maine, it’s 217%, the second highest in New England.
Center for Responsible Lending
Desperate for cash and unable to access traditional lenders for all sorts of reasons, some Mainers turn to financial outfits that give out payday loans with terms that are sometimes impossible to pay back.
In a bid to offer better protection, state Sen. Rick Bennett, R-Oxford, told a legislative committee this week that too many Mainers are “misinformed, bilked, conned and abused by unscrupulous predator lenders, often when they are in dire personal circumstances as well and most vulnerable to snake oil and fine print.” ....

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Maine senator calls for crackdown on 'snake oil and fine print' payday loans

Maine senator calls for crackdown on 'snake oil and fine print' payday loans
centralmaine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from centralmaine.com Daily Mail and Mail on Sunday newspapers.

Rhode Island , United States , North Carolina , Frank Dalessandro , Whitney Barkley Denney , Rick Bennett , Kathy Keneborus , Jody Harris , Jonathan Selkowitz , Bureau Of Financial Institutions , Bureau Of Consumer Credit Protection , Financial Services , Maine Center , Consumer Financial Protection Bureau , Supreme Court , Legislature Committee On Health Coverage , Maine Bankers Association , Responsible Lending , Health Coverage , Consumer Credit Protection , Financial Institutions , New England , Pine Tree Legal Assistance , Pine Tree , Frankd Alessandro , Maine Equal Justice ,

National Consumer Protection Week: Herring, SCC highlight consumer resources

National Consumer Protection Week: Herring, SCC highlight consumer resources
Published Monday, Mar. 1, 2021, 10:06 am
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National Consumer Protection Week is underway, and Attorney General Mark Herring and the State Corporation Commission are highlighting the resources available to consumers.
The AG’s office works through its Consumer Protection Section to protect Virginians from being exploited by abusive, deceptive, predatory, or illegal business practices. Since 2014, CPS has recovered approximately $356 million in relief for consumers and payments from violators and transferred more than $59 million to the Commonwealth’s General Fund. ....

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南警超給力1天阻詐4件 銀行超商聯手護民眾財產

南警超給力1天阻詐4件銀行超商聯手護民眾財產
sina.com.tw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sina.com.tw Daily Mail and Mail on Sunday newspapers.

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