[dynachrome]

What is the definition of “predatory lending”, anyway?

125% interest? 101%? 92.5%?, etc.

[eyeamok]

“predatory lending”,???

Usury:
Charging Interest on something that is not yours, which has been replaced with charging excessive interest.

Since 8-15-1971 ALL LENDING is PREDATORY!!!

[political1]

25% monthly. That equals up to 300% in a year. They only do monthly loans. So if you can’t make a full payment by the end of the month, they will have you sign on for another month with the remaining amount added on top of the original amount. Once again adding 25% interest on top of it. A thousand dollar($1,000) loan will cost you. $250.00 by the end of the month. So basically if you can’t come up with $1250.00 by the end of the month they will roll it over, and start over. After 4 months your interest amount is more then your original loan. After that point. They are in a win/win situation. They can repossess your car, and sell it, or string you on indefinitely with nothing but interest payments.

[Polynikes]

In the case detailed in the LA Times it was 153%. The woman who took out the loan on her car needed only $400 but the loan was for $2600. In Kali any consumer loans over $2500 have no interest limit. Its Tony Soprano territory and all legal.