ISS - Corporate lobby targets African-Americans for NC bill raising loan interest rates

ISS - Corporate lobby targets African-Americans for NC bill raising loan interest ratesFACING SOUTH - Online Magazine of the Institute for Southern StudiesSubscribe to RSS
Corporate lobby targets African-Americans for NC bill raising loan interest rates

North Carolina has some of the most stringent consumer protection rules in the country against predatory lending. In 2010, lending groups ramped up campaign contributions [pdf] to elect lawmakers more hospitable to their interests, and are now pushing a bill that would allow lenders to raise the interest rates they charge on consumer loans -- and reaching out to African-American voters who would be among those most affected by the measure.