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Law Practice

Mar. 13, 2009

BERG: Predator Loans, in Land of Zombie Banks

Columnist Martin Berg find the Land of the Living Dead -- a.k.a. Fresno, where borrowers live in the shadow of predatory lending.

We've been wrestling with usury at least since Biblical times, trying to cap the amount of interest lenders can charge and passing laws against predatory lending.

But in an environment where government hasn't had much appetite to regulate the financial industry, Congress and the courts have weakened those laws over the past 30 years. Now Sen. Dick Durbin, D-Ill., and Rep. Jackie Speier, D-Calif., want to give them some teeth. Consumer advocates have been railing to any...

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