Regulators Shut Down Lending Platform (YC Alum) LendUp

Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by abernard1 on Wednesday December 22, 2021 @08:05PM (#29657539)

> I’m seeing posts here making it sound like 36% APR is acceptable. Look up usury folks. This is it. Debt that is intentionally structured so that it can never be repaid and keeps the borrower harnessed to the cart.

This is Brazil or Mexico. Or payday loans. It's emphatically not America at large unless you live in SF.

Please leave your bubble.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by callmeal on Wednesday December 22, 2021 @08:09PM (#29657563)

>This is Brazil or Mexico. Or payday loans. It's emphatically not America at large unless you live in SF.

Payday loans are America at large. And don't forget Credit Cards rates.

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Re:Regulators Shut Down Lending Platform (YC Alum) LendUp by abernard1 on Wednesday December 22, 2021 @08:33PM (#29657696)

> And don't forget Credit Cards rates.

You mean those 18 month 0% APR rates for credit balance transfers? The US has huge rates for long term debt, but this is silly.

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