Today, Gov. Easley used his gubernatorial veto power for the third time in his career and its existence. Easley vetoed legislation that would allow consumer finance companies to charge higher fees. “This legislation has no economic benefit to North Carolina or our working families. It would simply increase the cost of loans for North Carolina citizens at a time that they can afford it least,” he said.
I guess it is not an economic benefit to allow loan access to high-risk customers. If finance companies are not allowed to assess the higher fees that correspond with higher risks, don?t think that these companies will just charge everyone the same rate no matter the level of risk.
No, these companies will now just not offer loans to many high-risk customers at all?but hopefully there are no North Carolinians who fall into that category.
