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In reply to the discussion: Lending money to someone is an aggressive, dangerous act [View all]WillowTree
(5,325 posts)86. Nonsense.
Banks cannot change the terms of an existing loan just because they want to. One presumes that you're probably referring to credit cards. If you carry a balance and turn out not to be a reliable payer, they can and usually will raise the interest rate on your card, but only for future purchases. They can't raise the interest rate on the balance already on your card. Don't believe me? Read that fine print.
Banks and credit card companies are already regulated. Should the regulations be more strict? Maybe. But your argument loses credibility when you make statements that just aren't true.
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You don't know anything about me. Pay Day loans ARE usurious. And yes I have had to use them.
Squinch
Apr 2016
#9
The payday loan that I was forced to take had high interest. It also saved me during a very
Squinch
Apr 2016
#51
You make an awful lot of assumptions about people who disagree with you.
AtheistCrusader
Apr 2016
#17
Your language about the essential need for lending describes exactly why lending should be regulated
Bluenorthwest
Apr 2016
#10
IMHO, his VERY worst moment. That act of treachery was MASSIVELY disappointing, and
closeupready
Apr 2016
#25
One doesn't get a loan without agreeing, in writing, to repay it with interest.
lumberjack_jeff
Apr 2016
#29
I'm asking you to use your little imagination and think of it from the bank
ProfessorPlum
Apr 2016
#79
You can't possibly even believe this. Maybe you are talking about payday loans.
Yo_Mama
Apr 2016
#68