Friday Interview: Consumer Loan Industry Explored

RALEIGH — If you’ve heard much media coverage about the consumer loan industry, chances are good that the coverage has been negative. Critics use the words “predatory lending” to label the industry as harmful. The N.C. House voted 61-54 this month to approve legislation lifting existing state caps on consumer loan rates. Harold Black, James F. Smith Jr. Professor of Financial Institutions at the University of Tennessee, supports lifting the caps. He discussed the consumer loan industry with Mitch Kokai for Carolina Journal Radio.