With just two weeks to go, it is almost closing time at the Louisiana State Capitol. But consumers and state legislators should be very concerned about a proposed law that’s still moving through the process, which would protect out-of-state lawsuit lending companies who prey on citizens when they are most vulnerable. These “loan sharks” seek out people who have been injured and are in desperate financial straits by offering lawsuit loans with annual percentage rates that can climb as high as 150 percent.
Read more on these fake protections in the Louisiana Record here.