‘The Consequences of Cashing-In on Death’

David Horton, Borrowing in the Shadow of Death: Another Look at Probate Lending, 59 William and Mary Law Review 2447 (2018). For decades, state and federal governments have increased their watch on fringe lending practices such as payday loans, title loans, tax refund anticipation loans, and pension loans. The main reason for this increased regulation is that these loans often have astronomical interest rates which may force borrowers to come back for renewal loans. Probate loans are a lesser known form of fringe lending that have managed to slip below the radar of nearly all regulatory bodies in the United States …” (more)

[Gerry W Beyer, JOTWELL, 27 March]

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