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1SG Civil Affairs Specialist
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I believe that the market will sort this out, and government screwing with it only destabilizes things.
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LTC Self Employed
LTC (Join to see)
5 y
We have had12 years to sort this out.
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1SG Civil Affairs Specialist
1SG (Join to see)
5 y
LTC (Join to see) - We have had a hundred years or so to sort this out.
If your credit sucks, you have no one to blame but yourself.
Terms and conditions for credit cards are clearly laid out in the agreement one signs when applying for a credit card. It is not "predatory" to collect interest on a balance the purchaser runs up, knowing they will not pay off the balance before interest kicks in.

Ergo, not a federal government issue.
Next.
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PO1 John Johnson
PO1 John Johnson
5 y
As long as there are hundreds of millions of dollars to be made in settlement suits, nothing short of tort reform will change the way Lawyers look at this.
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LTC Stephen C.
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Tucker Carlson supports what’s right, LTC (Join to see). This was no surprise to me.
In the past week, I’ve received notices from two gas companies that the APR is now 28+%! Ridiculous! Fortunately for me, I use the cards just for convenience and have no outstanding balances. Those forced to maintain a balance are thus subject to these usurious interest rates!
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LTC Self Employed
LTC (Join to see)
5 y
States can limit interest rates as well. We don't have 12% FED rate like in 1980 so why have high rates 40 years later?
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LTC Stephen C.
LTC Stephen C.
5 y
Well, there’s an answer, LTC (Join to see), but there could be other reasons also.
“Consumers often agree to pay a higher interest rate by agreeing to the terms offered, thus waiving any statutory limits. Additionally, most state laws limiting interest rates have exceptions. In Tennessee [my home state] for instance, the legal amount of interest a creditor may charge is 10 percent -- however, this does not apply to loans under $1,000. And if you agree to a credit card with an 18 percent APR, for example, statutory limits don't apply.”
SFC Pete Kain
https://statelaws.findlaw.com/tennessee-law/tennessee-interest-rates-laws.html
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MAJ James Woods
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What’s the old saying: Even the sun will shine on a dog’s ass sometime. Thus even Tucker can show a moment of rational thought.
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LTC Self Employed
LTC (Join to see)
5 y
This is not a blue moon or wolf moon thing. I'm sure there is consensus on other subjects.
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