Are there laws in place to keep them from charging ridiculous amounts or is this up to the bank according to credit scores? I was on a website that stated there have been some loans that have been as high as 70%. That is a lot of money in interest. So if your personal loan is $1,000 you have to pay them back $1,700!
I honestly don't know if there are laws in place to prevent companies charging you higher than a certain percentage. I know there aw laws to protect debt collectors from harassing you have so many years but that is about it.
I thought there was a protection or some kind of reassurance for people who sign up for personal loans but it seems to not be the case. It is based on the free market in the US.