As inflation continues to spiral upward at multi-decade highs and with the U.S. economy now in recession…
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Amid Recession and High Inflation, Groups Like the "National Consumer Law Center" Seek to Narrow Rather Than Expand U.S. Consumer Lending Options

As inflation continues to spiral upward at multi-decade highs and with the U.S. economy now in recession, maintaining an "all of the above" array of lending options for American consumers becomes more and more important.  Unfortunately, activist groups like the "National Consumer Law Center" aim to do the opposite and limit rather than expand consumer options.

For a sense of consumers' growing desperation, consider a Federal Reserve report on exploding credit card debt, as highlighted by Steve Cortes:

How have consumers dealt with these skyrocketing prices? The simple answer, unfortunately: via credit cards, particularly for working-class households. Just last week, the Federal Reserve Bank of New York issued a damning report on this credit binge for consumers, into a pronounced economic…[more]

August 18, 2022 • 06:06 PM

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Notable Quote   
 
"The surest sign that public policies are simply virtue signals is when the messages don't cost anything. The easiest way to tell when that signal starts to fail is to watch politicians flounder as the costs start to rise and voters demand relief. ...Changes like this happen when voters realize the old virtue signals actually entail serious costs -- and that they will have to pay them. That is exactly…[more]
 
 
—Charles Lipson, the Peter B. Ritzma Professor of Political Science Emeritus at the University of Chicago
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