Why Lend?

How can a financial entity lend? Progressive-Democrat President Joe Biden now is moving to hide individuals’ medical debt from potential lenders.

[P]roposed regulations would prohibit consumer reporting companies from including medical debts and collecting information on consumer reports that creditors use to make underwriting decisions. Creditors would also be barred from using medical collections information when evaluating borrowers’ credit applications.

This on the heels of his constant attempts to render student debt holders unaccountable for their debt.

Since lenders are increasingly being denied recourse, and now they’re to be denied useful information about a potential “borrower’s” ability to repay a debt a priori, why—how—could any lender make a decision to lend, other than to raise its interest rate very high, commensurate with the very high risk being inflicted on that lender by Government?

Look for the Biden administration to start trying to cap lending interest rates, next.

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