How come Banks are allowed to charge usurious fees for credit?
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How come banks are allowed to get away with credit lines with such high interest rates. These rates are appaling and would not even be charged by some Loan Sharks!
Interest is against God's law. Christians and Muslims should consider devesting from these institutions and trying to boycott them until they at least bring their inetrest rates down.
I don't suffer from credit card debt, but many others do, and they are practically slaves.
How come Banks are allowed to charge usurious fees for credit?Risks associated with a line of credit are high. High risks constitute higher rates, like an investment. Unsecured credit that does not expire, like credit cards, will have higher rates. Once approved and credit is granted banks do not do an annual review of your character, capacity, capital, collateral, and conditions to determine you credit solvency.
So, let's take responsibility for our own actions and not rack up high credit card debt and then blame financial instititions.
How come Banks are allowed to charge usurious fees for credit?Because financial institutions are the #1 political contributing group in the country.
How come Banks are allowed to charge usurious fees for credit?Leave the religous stuff out of it. You should know better then to try to rile up muslims.
Its a free market and they can charge WHATEVER then want. thats the risk they are taking to give credit to people who probably dont deserve it to begin with it.
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