August 27, 2007 | Vol. XI, Issue 2

UF Law Faculty in the News

Chris Peterson Christopher L. Peterson
Associate Professor

Kansas City.com, August 20. His study, "Usury Law, Payday Loans, and Statutory Sleight of Hand: An Empirical Analysis of American Credit Pricing Limits," was referred to by a guest columnist discussing problems with debt and payday loans in society today. Peterson reference states: "In virtually every measurable way, usury law has become much more lax since 1965. . In 1965 banks were bound to comply with all state usury laws. Today banks are free to charge whatever interest rate they choose within the loose and changing tolerances chosen by banking regulators for their safety and soundness guidelines. .Today, at least 36 states have laws allowing lenders to charge over 300 percent."
Sydsvenskan, August 21. Quoted in an article published in Sweden's largest daily newspaper over mortgage brokers and the causes of the sub-prime mortgage market meltdown.