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USURY: Another pathway to relief created by the banks

Livinglies's Weblog

If the banks have proved anything beyond a reasonable doubt it is that neither their methods nor their documents entitle them to any presumptions in their favor.

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https://www.iicle.com/blog/financial-services-october-2015/
https://www.iicle.com/blog/financial-services-october-2015/print/

Interesting points here. In addition to all the defects in securitization, the banks have long been violating both the spirit and letter of State usury laws. Originally the rates were increased in the Jimmy Carter years when the prime rate went over 20%. It was thought to be “only fair” that the credit card companies be able to get the interest rates required to make a profit.

But when  interest rates dropped for everyone and everything else, credit cards and other consumer loans stayed at the same rates — reaching as high as 35%…

View original post 805 more words

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