High-Cost Credit

Interest Rate, Usury, & Other Credit Laws

Interest rate limits are the simplest, most effective way to stop predatory lending and unaffordable debt traps. But many states have loopholes in their laws, and the United States generally lacks national interest rate limits. Rent-to-own and retail installment sales transactions often evade lending protections. NCLC supports effective state and federal interest rate limits and credit laws.

Larger Loans Need Lower Rates: A 50-State Survey of the APRs Allowed for a $10,000 Loan

March 6, 2024

This report surveys the interest rates and loan fees allowed by all 50 states and the District of Columbia for an unsecured 5-year installment loan of $10,000.

Read More about: Larger Loans Need Lower Rates: A 50-State Survey of the APRs Allowed for a $10,000 Loan
November 15, 2023
August 4, 2021

Featured

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CFPB’s SoLo Funds Enforcement Action is a Warning for Fintech Payday Lenders

May 20, 2024

Synchrony’s Planned Rate Hike Unjustified, Advocates Say

April 25, 2024

Testimony in Support of Rhode Island H 7941 Opting Out of DIDCMA

March 25, 2024

Larger Loans Need Lower Rates: A 50-State Survey of the APRs Allowed for a $10,000 Loan

March 6, 2024

50-State Survey Finds Larger Loans Need Lower Rates

March 6, 2024

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2023)

November 21, 2023

2023 Update: Some States Tighten Rules Against High-Cost Installment Loans; Others Increase Interest Rates and Allow Junk Fees to Pile On

November 21, 2023

NPR: Apple rolls out Apple Pay Later — a buy now, pay later service

March 30, 2023

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2022)

June 28, 2022

Comments & Letters

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Coalition Letter Supporting the Veterans and Consumers Fair Credit Act

July 29, 2021

Comments to NCUA Regarding CUSO Proposed Rule

April 30, 2021

Comments to the FDIC Regarding Parent Companies of Industrial Banks and Industrial Loan Companies

July 1, 2020

Short Comments on FDIC Notice of Proposed Rulemaking, Federal Interest Rate Authority

February 4, 2020

Group Comments to the FDIC Regarding Small-Dollar Lending

January 22, 2019

Reports

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Larger Loans Need Lower Rates: A 50-State Survey of the APRs Allowed for a $10,000 Loan

March 6, 2024

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2023)

November 21, 2023

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2022)

June 28, 2022

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2021)

May 27, 2021

Predatory Installment Lending in the States: 2020

February 28, 2020

Predatory Installment Lending in the States: A Larger and Longer Debt Trap? (2018)

October 1, 2018

Predatory Installment Lending in the States: States Battle to Restrain High-Cost Loans (2017)

October 1, 2017

Installment Loans: Will States Protect Borrowers from a New Wave of Predatory Lending? (2015)

July 30, 2015

Issue Briefs

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What States Can Do to Help Consumers: High Cost Loans

March 15, 2022

Federal Ability-To-Repay Requirements for Small Dollar Loans

November 1, 2021

Why Cap Interest Rates at 36%?

August 4, 2021

Overturn the OCC’s “Fake Lender” Predatory Lending Rule

March 15, 2021

Testimony

View All for Testimony
Testimony in Support of Rhode Island H 7941 Opting Out of DIDCMA

March 25, 2024

Rent-a-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Cap

February 5, 2020

Press Releases & News

View All for Press Releases & News
CFPB’s SoLo Funds Enforcement Action is a Warning for Fintech Payday Lenders

May 20, 2024

Synchrony’s Planned Rate Hike Unjustified, Advocates Say

April 25, 2024

50-State Survey Finds Larger Loans Need Lower Rates

March 6, 2024

2023 Update: Some States Tighten Rules Against High-Cost Installment Loans; Others Increase Interest Rates and Allow Junk Fees to Pile On

November 21, 2023

NPR: Apple rolls out Apple Pay Later — a buy now, pay later service

March 30, 2023

50-State Survey: State Predatory Lending Laws Show Significant Changes

June 22, 2022

U.S. House Introduces 36% Rate Cap Bill to Curb High-Cost, Predatory Loans

November 17, 2021

​NCLC ​Advocates Applaud 36% National Rate Cap Bill  to Curb High-Cost, Predatory Loans Across the Nation

July 29, 2021

National Consumer Law Center Advocates Praise U.S. House Vote to Repeal National Banking Regulator’s Predatory Lending Rule

June 24, 2021

Amicus Briefs

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Amicus Brief in David Petersen, Et Al v. Chase Card Funding, LLC

February 7, 2020

From the NCLC Digital Library

Consumer Credit Regulation

Innovative thinking and precise authority on predatory lending and other consumer credit, including the latest on rent-a-bank attempts to evade state usury laws, on the NCLC Digital Library.

Read Chapter One

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