Mich. A.G. Nessel Continues Fight Against Predatory Lenders
February 06, 2020
February 06, 2020
LANSING, Michigan, Feb. 6 -- Michigan Attorney General Dana Nessel issued the following news release:
Michigan Attorney General Dana Nessel joined 23 other attorneys general in submitting a comment letter opposing a proposal by the Federal Deposit Insurance Commission (FDIC) to preempt state usury laws that regulate payday and other high-cost lending.
Usury laws prevent predatory lenders from taking advantage of consumers by charging high interest rates on loans. The FD . . .
Michigan Attorney General Dana Nessel joined 23 other attorneys general in submitting a comment letter opposing a proposal by the Federal Deposit Insurance Commission (FDIC) to preempt state usury laws that regulate payday and other high-cost lending.
Usury laws prevent predatory lenders from taking advantage of consumers by charging high interest rates on loans. The FD . . .