usury laws are backwards

usury laws are backwards

Posted in the Pawn Stars Forum

Lakawak

Endicott, NY

#1 Oct 28, 2012
Why can't banks...who really have no guarantee of getting back the money...charge high interest rates while a pawn shop...which is taking NO risk since they have an actual item in their possession worth more than the loan...is legally allowed to charge rates that surpass 300% a year!

Again...they take NO risk as lng as they know what they are doing to don't overestimate the value of the item pawner. So they should be MORE controlled than banks.

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