We tested the prediction that banks will step in when payday lenders face restrictions. They didn’t want our business.
Topic: Consumer protection
efforts and measures intended to protect consumers of goods or services against unfair practices in the marketplace
How the war on specialized emergency loans has hurt New Mexicans.
Originally published at Santa Fe New Mexican on June 11, 2022. Earlier this year, as New Mexico debated legislation limiting to 36 percent the annual percentage rate for consumer loans in the state, the primary witness testified in support of the bill before the Consumer and Public Affairs Committee. Claims were made that do not hold […]
Save for the rare instances where high start-up costs or other extreme barriers to entry are present or the potential customer base is extremely limited, most economists agree: Monopolies are bad for consumers. This thinking, now more than a century old, gave rise to the adoption of increasingly more comprehensive laws giving the federal government […]