We should simply ban these practices. For the same reason we ban all sorts of other mistakes people are oblivious to.
#49 | POSTED BY SNOOFY AT 2014-09-17 05:02 PM | FLAG: | NEWSWORTHY 1: Yes, you can ban the practices, but then you will have people with bad credit who will not get credit because to are too risky to loan to. I am sure that you know some reliable people who you would loan some money because you feel they would pay it back -- but do you also know others that if they asked you to loan them money you would say no way because you highly doubt you would ever see you money.
There is a valid reason why lenders require high interest rates for those who are a greater risk.