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Now, that is what a good corn fed governor can do. With the others wasn't so busy being PC that they would remember the little folks.
Title pawn and reverse mortgages just take advantage of the low income.
Now, that is what a good corn fed governor can do. With the others wasn't so busy being PC that they would remember the little folks.
Title pawn and reverse mortgages just take advantage of the low income.
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Wohoo. I am from Iowa. Not that I would ever get a loan like that, but I am glad they got rid of it.
I am sick and tired of the darn commercials taht come up every 10 minutes about car title loans. These people in thier new NISSAN or BMW and are getting a title loan in the commercials.
If you own a brand new car, you should probably sell it and you would have more money..
Geezzz.. though good news..
hooray for iowa.......sounds like they are on the ball.......
yeah for the state of iowa.......
Another score for the state of Iowa is that it's not legal for cell phone companies to lock you into a multi-year contract. I'm not sure of the exact details, but I do know that all it takes to get out of a cell contract in Iowa is a letter to the Iowa Attorney General. (Plus the cost of living in Iowa's most expensive city of Des Moines is 21% less than Minneapolis.)
Go, Iowa!
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Next target: pawn shops!
Yeah i wish they would do that here in Utah, but most of the payday and title loan businesses are owned by the politicians that make the laws.
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I don't have such a loan, and I don't live in Iowa, but what if you have one and live there?
@ Buran
Most legal changes of this sort aren't retroactive. It probably just bans issuing new car title loans after a certain date.
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Hey Iowans -- Is it still the case that ATM fees are illegal there? I thought that rocked too. Good, populist Iowa.
oudemia,
They brought back ATM fees right before I moved down from Minneapolis a few years ago. I didn't particularly mind the fees, as I was used to them and just looked for a machine from my bank as usual. But co-workers and neighbors complained constantly about actually having to pay attention to who owned the machine and how much other banks would charge.
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oudemia- ATM fees are in fact legal here. I've been paying them when using other banks' ATMs ever since I've had a bank account.
minneapolisite- Although it used to be much easier to get out of a cell phone contract in Iowa, it appears to be much more difficult now. Previously, the argument was made that cancellation fees would effectively charge consumers for a service they did not receive. A few years ago, the AG settled with one of the larger phone providers and the policy appears to have changed. I believe the key is whether your bills have covered the cost of equipment at the point you try to cancel, which doesn't seem entirely unreasonable. Honestly, though, the official policy isn't entirely clear.
There are a number of great things about Iowa in addition to the loan ban. Our districts are drawn in a unique way where the legislature only approves redistricting plans after they have been put together by an independent commission. The first in the nation caucus allows almost every Iowan to meet Presidential candidates multiple times and to make informed votes, where it would be difficult to manage this in most other states. And hell, as the song goes \"our state fair is a great state fair.\"
its about time someone got rid of those places!