Will States Continue To Go After Lenders?

Just Say No Is Illinois over-reaching, or will we see this become a trend?

“Madigan spokeswoman Robyn Ziegler said the lawsuit would be filed Wednesday in
Cook County Circuit Court. In the complaint, Madigan says that Countrywide offered
unfair loans with risky features, used misleading sales techniques and encouraged
employees and brokers through incentives to sell more high-risk loans.”

Risky features, misleading sales techniques and high-risk loans … sounds like payday loan centers.  States aren’t pursuing those businesses, is this really a good idea?

H/T to BP1 for the image

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One Response to Will States Continue To Go After Lenders?

  1. Jeremy,

    First the link didn’t work for me –

    But more importantly, it seems like personal responsibility is getting thrown out here.

    Our office has a payday loan center about 100 feet away. It surprised me when they moved in and shocked me when I saw their rate and fee disclosures. But if people use the service….

    I also don’t smoke, but I don’t think tobacco products should be outlawed.

    Jon Boyd
    Exclusive Buyer’s Broker
    The Home Buyer’s Agent of Ann Arbor, Inc.

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