Stephen Moore: Leftist lending policies don't 'help' veterans

Fox News’ Stephen Moore writes, “Because of leftist politicians, Americans who need access to credit the most are being denied it. When Democrats denounce lenders charging high interest rates on personal loans and move to restrict them, they’re ignoring reality. The truth is that banks and other non-bank lenders won’t make loans to borrowers with riskier credit profiles at 36 percent or less—they’ve said so themselves.

⚠️ "This #VeteransDay, Americans shouldn’t be fooled by leftist talk of "helping veterans" by passing new lending restrictions like S. 2508. ⚠️ This will prevent millions from getting the credit they need and push them out of the banking system." #ampFW https://t.co/KrmMwA7TDN

— FreedomWorks (@FreedomWorks) November 11, 2021

The left’s lending restrictions don’t make it easier for borrowers to repay their loans by lowering interest rates. Instead, many are deprived of any access to credit at all and forced to resort to more expensive or harmful options where they risk losing their cars or checking accounts.

Veterans aren’t the only groups hurt by policies like a 36 percent rate cap or S.J. Res. 15. These restrictions have a disproportionate harmful impact on working people, especially working people of color—the same groups the left claims to be fighting for while championing these destructive policies.”

Read the entire column.