Sen. Jeff Merkley (D-OR), along with Sens. Doug Jones (D-AL) and Tom Cotton (R-AR), announced Tuesday the introduction of bipartisan legislation that would halt the predatory practice of mailing high-interest loans to consumers in the form of “live” checks.<\/p>\n
When consumers receive these loan checks, the senators said, many unknowingly believe they have received money from their bank or financial institution, not realizing that the check is often a high-interest loan.<\/p>\n
El Ley de pr\u00e9stamos no solicitados de 2018<\/i> would prohibit this practice and ensure that consumers access loans only when they proactively apply for them. This legislation mirrors the decades-old prohibition on the mailing of live credit cards, a news release stated.<\/p>\n
“When you receive a check in the mail, it’s natural to assume that depositing it will help—not hurt—your bottom line,” Merkley said. “But these checks don’t pad consumers’ pocketbooks; instead, they send them into a vortex of debt.<\/p>\n
“The practice of mailing high-interest loans disguised as checks is unconscionable and clearly predatory. Today, we’re sending a bipartisan message that this unacceptable practice must end,” Merkley added.<\/p>\n
“As working Americans look to make ends meet, lenders will often target cash-strapped families with these mailings. It is unconscionable that someone would take advantage of another person’s dire financial situation to make a quick buck for themselves. We need to end this predatory lending tactic and pass this legislation to protect consumers and their pocketbooks,” said Senator Jones.<\/p>\n
“People should understand clearly when they are taking on debt. But because ‘live’ checks mailed directly to consumers don’t require an application or any previous relationship with the consumer, many individuals don’t realize that these checks are actually high-interest loans until it’s too late. Just like Congress ended the practice of mailing ‘live’ credit cards nearly 50 years ago, Congress should pass our bill now to stop this underhanded practice,” said Senator Cotton.<\/p>\n
Antecedentes de la Ley de Pr\u00e9stamos No Solicitados de 2018<\/span><\/p>\n Hace tiempo que el Congreso reconoce que los pr\u00e9stamos de consumo deben requerir una solicitud por parte del cliente. De hecho, el Congreso prohibi\u00f3 el env\u00edo de tarjetas de cr\u00e9dito activas no solicitadas hace casi 50 a\u00f1os. En los pr\u00e9stamos modernos, una solicitud de pr\u00e9stamo formal a menudo puede tomar solo unos minutos, y el proyecto de ley no proh\u00edbe la comercializaci\u00f3n directa o el env\u00edo por correo de una solicitud de pr\u00e9stamo. Esta legislaci\u00f3n proporcionar\u00eda protecciones al consumidor de sentido com\u00fan sin limitar el acceso al cr\u00e9dito para los consumidores que voluntariamente solicitan y buscan productos de pr\u00e9stamo.<\/p>\n El proyecto de ley tambi\u00e9n garantizar\u00eda que las empresas no puedan pasar del env\u00edo de cheques en vivo a otras formas de transferencia, como una tarjeta de regalo o un "cheque electr\u00f3nico". Adem\u00e1s, garantizar\u00eda que los clientes no sean responsables de las deudas contra\u00eddas por un pr\u00e9stamo de cheque vivo ilegal y no solicitado. <\/p>\n El Centro Nacional de Derecho del Consumidor ha respaldado esta legislaci\u00f3n en nombre de sus clientes de bajos ingresos.<\/p>","protected":false},"excerpt":{"rendered":" Sen. Jeff Merkley (D-OR), along with Sens. Doug Jones (D-AL) and Tom Cotton (R-AR), announced Tuesday the introduction of bipartisan legislation that would halt the predatory practice of mailing high-interest loans to consumers in the form of “live” checks. When consumers receive these loan checks, the senators said, many unknowingly believe they have received money from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-4392","post","type-post","status-publish","format-standard","hentry","category-in-the-news"],"acf":[],"yoast_head":"\n