DPC in MinnPost: Interest-rate cap policies would create a less diverse, less inclusive economy

On October 8, senior advisor to the National Popular Vote, Patrick Rosenstiel, penned an op-ed in the MinnPost discussing interest rate caps and their damaging effects.

In the op-ed, Rosentiel wrote, in part, “Indeed, studies have shown that national and state rate caps on small-dollar loans would have unintended consequences. When policymakers place artificial constraints on credit access, lending to borrowers with means stays steady or increases, but credit “deserts” appear in low-income communities. There is an especially disparate impact on credit access for minority communities, and as the credit access gap grows wider, the economy becomes less diverse and less inclusive.”

Read the full op-ed here.