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deny lenders the ability to charge different interest rates to borrowers based on credit score.

Created by C.L. on April 01, 2015

When banks and other lenders charge higher interest rates to individuals with poor credit, they are weakening the economy and every borrower who has less than perfect credit. This is a predatory lending practice and it must not be allowed to continue. Lending institutions are well within their right to deny a loan based on credit history, but if they accept a loan request then the terms should be the same for anyone they accept. Making someone pay a higher interest rate because they have poor credit is a just a tax for being poor! Removing this practice would help to stabilize the middle class, elevate some who are in poverty, and allow increased consumer spending as debtors will have less income devoted to debt interest and more to spend on goods and services.

Economy & Jobs
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