FREEDOM LINE BLOG: New Study Shows How Overregulating Short-Term Lenders Harms Consumers
We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting…
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New Study Shows How Overregulating Short-Term Lenders Harms Consumers

We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting the short-term consumer lending sector.

Less than two years ago, we specifically sounded the alarm on a New Mexico law artificially restricting interest rates on short-term consumer loans.

Well, a new study entitled "A New Mexico Consumer Survey:  Understanding the Impact of the 2023 Rate Cap on Consumers" that surveyed actual borrowers confirms our earlier warnings:

Key findings include:

•Short-term,small-dollar loans help borrowers manage their financial situations, irrespective of the borrower’s income.

•The rate cap has failed to improve the financial wellbeing of New Mexicans, specifically those who had previously relied on short-term, small-dollar loans.

•…[more]

November 27, 2023 • 03:57 PM
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Home Jester's Courtroom A Lawsuit That's Hard to Imagine
A Lawsuit That's Hard to Imagine Print
Wednesday, May 02 2012

A California man is suing BMW North America and aftermarket seat maker Corbin-Pacific claiming the seat on his motorcycle gave him a severe case of priapism (more specifically, a non-stop erection for 20 months).  The suit blames Corbin-Pacific for the alleged negligent design of its bike seat, BMW North America for selling the seat, and both companies for negligently assembling the seat.

In his lawsuit filed in California Superior Court in San Francisco, Henry Wolf is seeking compensation for lost wages, medical expenses, emotional distress and "general damage" after an alleged injury following a four-hour ride on his 1993 BMW motorcycle, with a ridge-like seat.  Further, the lawsuit claims Wolf is “now is unable to engage in sexual activity, which is causing him substantial emotional and mental anguish.”

—Source:  detroit.cbslocal.com

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