Not exact matches
I know we touched on it on the first show we
did but when you say the federal
usury law, the rates set in the criminal code is 60 % so I can not give someone a loan and charge them a 70 % interest rate.
They shouldn't, and if they
do sign onto this bill, it should only be in exchange for some solid consumer protections to substitute for the preempted state
usury laws.
They also
do not pay attention to state
usury laws.
You all need to understand too that most of my lending has been
done under
usury laws, so higher rates and points can be illegal on any residential loan.