Ok, the title is not exactly true. However, it should be true. There should be laws against what they are doing to consumers. How do these lenders get away with the setting of ridiculously high interest rates? There should be laws limiting lenders to how much they can charge and that limit should be much much lower. Let me give you two examples. High School Senior A friend of mine's son received his first credit card in the mail. I am unsure of how many separate fees are attached to it. However, the whopping 30% interest rate certainly stood out. How many of these young adults are going to innocently use them and then run a balance and possibly get themselves into trouble? Yes, I get the fact the credit card company is taking a risk. However, there are other ways to mitigate risk other than charge 30% interest rates. Random Check in the Mail A friend of mine received a check in the mail for $5,054.82. It was an actual check that if he cashed it that amount would be in his account. It was a loan for "holiday expenses." The interest rate? 30.15%. If you are borrowing at 30% to pay for Christmas, you might want to rethink your Christmas spending. Just think of the people who innocently cash these checks and don't understand the fine print? Once you cash the check you accept the terms and conditions of the loan. "Act now to take advantage of this special opportunity" the letter said. It should say act now so you can be taken advantage of. As I write, I am watching the mid-term elections as the politicians get elected to serve the people of the state they represent. Where are these politicians when it comes to the protection of the consumer? The people of the state of Colorado passed a resounding yes to limiting payday lenders to the interest rate that they can charge to 36%. They were legally allowed to charge 200%! I can understand a payday loan at 36%. These companies are taking excessive risk. Credit card companies and regular lenders charging excessive interest rates? That should be regulated a lot closer. Interest rates and usury laws are state mandated laws. I heard a recent radio commercial that sums up the problem. The guy on the commercial is telling his friend he received some "fast" cash to buy some things. His friend said tell me where I can sign up? I want some fast cash. Unfortunately, most people don't understand the consequences of their actions when it comes to credit/debt. This is where creditors are taking advantage of a country that is in love with the Almighty Dollar and insanely in debt.