Without a doubt about Court Overturns State Law Protecting Borrowers From High Interest Loans

Without a doubt about Court Overturns State Law Protecting Borrowers From High Interest Loans

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A federal appeals court hit straight down an Indiana consumer-protection legislation that desired to manage out-of-state loans geared towards Indiana residents. The language associated with the viewpoint had been grounded on U.S. constitutional axioms, rendering it a problematic viewpoint that may bolster challenges to comparable customer security laws and regulations in other states.

AARP Indiana worked using the Indiana Department of Financial Institutions (DFI) supporting passing of 2007 legislation that mandates that out-of-state lenders who get Indiana borrowers adhere to Indiana legislation. […]