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“Personal installment loans are often a critical lifeline for borrowers with limited credit options, allowing them to pay for unexpected expenses or to consolidate debts.”

- Assistant Attorney General Bill Baer, Justice Department Antitrust Division (2015)

“In both rich and poor countries alike, credit institutions have favored the rich and in so doing, have pronounced a death sentence on the poor… "

- Muhammad Yunus, Banker to the Poor (1999)

“We recognize the need for emergency credit. At the same time, it is important that these products actually help consumers, rather than harm them.”

-Richard Cordray, CFPB, Birmingham, AL (Jan 2013)

“Payday borrowers strongly support requiring the loans to have affordable installment payments.”

- Pew Charitable Trusts

The Impact of Military-Style APR Caps in Illinois (Video)

October 27th, 2023|Comments Off on The Impact of Military-Style APR Caps in Illinois (Video)

Dr. J. Brandon Bolen of Mississippi College discusses the effects that a recent APR cap has had on Illinois consumers. SOURCE: NILA

The Potential Impact of Military-Style APR Caps in South Carolina (Video)

October 27th, 2023|Comments Off on The Potential Impact of Military-Style APR Caps in South Carolina (Video)

Dr. Thomas J. Miller, Jr. of Mississippi State University explains the potential consequences of legislation in South Carolina that would impose an Annual Percentage Rate (APR) price cap on consumer loans. SOURCE: NILA [...]

Understanding Traditional Installment Lending (Study Reviews)

April 4th, 2023|Comments Off on Understanding Traditional Installment Lending (Study Reviews)

Reviewing Four Important Public Studies Promoting understanding of Traditional Installment Lending and the forces that shape its social, regulatory, and political environment, is NILA’s number one job. Only through understanding the nuances of lending [...]

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