North Carolina Legislative Update August 16, 2018
Dear Coalition Supporters, This update covers important predatory lending developments over the past few months, including action at the NC General Assembly, challenge of the payday rule in Congress (spoiler, we won!), threats to our state usury cap, rollback of federal student loan protections, and recent CRL research. NC General Assembly: What Happened? House Bill 810, backed by the NC-based BB&T, would have tripled the origination fee on consumer loans issued by NC-chartered banks to $150, and could have more than tripled the late fee by increasing the fee to $35. Most worrisome was the...