Sam Hall on Nostr: It should be illegal to advertize loans only in terms of APR. Every loan ad should be ...
It should be illegal to advertize loans only in terms of APR. Every loan ad should be required to state the loan amount and payback amount in actual dollars (assuming equal payments over the full payback period). Not buried in some 12 page fine print document, clearly stated on every ad:
"Borrow $10,000, pay back $22,000"
No one would ever agree to these APRs and payback periods if they actually knew what they meant.
Published at
2023-08-24 19:09:14Event JSON
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