Predatory Lending

[XtremeJibber2001]

I'm not sure if anyone is following this, but there is an outcry (at least in the media) about predatory lending.

Personally, it seems as though these media outlets want the gov't to act on credit cards with misleading advertising. I don't view this as predatory lending. I always thought predatory lending was right there with unfair (unfair really being in the eye of the beholder) and abusive lending practices.

That being said, should the gov't step in to regulate credit cards?

An example CNN was using was a check from a credit card company for X amount of dollars. According to CNN, this is 'wrong' and 'predatory' because people deposit the check without reading the fine print and get stuck in debt with high interest payments.

I don't know about you, but I don't feel this is predatory. Nor do I think it's the gov'ts job to rescue those without fiscal responsibility or poor money management skills.

/end rant