USURY: Another pathway to relief created by the banks


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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%…

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About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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