Now the chairman of the Federal Reserve himself is saying this is a problem. Actions speak louder than words. Regulators need to back up what they say by targeting these predators and changing the conditions that allow them to carry on their business. Yet some companies persist in trying to trap people with these rip-off loans by targeting specific neighborhoods and segments of the population.
All consumers deserve fair loans with fair rates.
It's time for policymakers to turn their words into action to bring an end to this abusive practice once and for all. We are a comprehensive source of unbiased advice about products and services, personal finance, health, nutrition, and other consumer concerns. Since 1936, our mission has been to test products, inform the public, and protect consumers.