Seth Moulton Quotes

Too often, borrowers who need quick cash end up trapped in loans they can't afford.

People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.

Families rely on financial services more than ever, but those who need them most - who struggle to make ends meet - too often must contend with sky-high interest rates and tricks and traps buried in the fine print of their loan products.

I was absolutely astonished and could not believe my eyes at the outrageous interest rates that people in need have to pay to get loans.

The Pentagon got fed up with its recruits getting ripped off by payday lenders and in 2007 got Congress to make it illegal to extend such loans to members of the military. But civilians remain fair game.

Can't make your payments? No problem. The interest charges keep on coming. In fact, banks prefer it that way. More money for them. The government guarantees it.

What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.

There were absolutely circumstances where Sallie Mae was working hand-in-hand with for-profit schools and other schools in offering and putting students into risky expensive subprime loans.

I've repeatedly seen unscrupulous lenders use every con in the book to charm and lie to homeowners. Lenders actually paid brokers a premium to put people in higher-priced loans with toxic features, such as adjustable rates and prepayment penalties.

Groups that work in black neighborhoods around the country have contended that much of subprime lending is 'predatory lending.'

When I was young, people lived from paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.

Community groups contend that door-to-door loan sales are often followed by foreclosures.

For too long, tricks and traps in mortgages, credit cards, and other financial transactions have stripped wealth from working families.

The one thing that offends me the most is when I walk by a bank and see ads trying to convince people to take out second mortgages on their home so they can go on vacation. That's approaching evil.

Making loans accessible to millions of the previously unbankable customers is a noble goal. Getting them hooked to such loans isn't.

The problem is that borrowing money to pay back more borrowed money that will oblige you in the future to borrow even more money doesn't sound kosher. Because it isn't.

It’s going to put people into indentured servitude to the credit card companies.

As I travel across Illinois and talk with people, and as others reach out to my office desperate for help, I am becoming convinced that, despite their rhetoric, many lenders have no interest in actually helping their customers.

Profiting from student loans is usury, and we just can't continue to allow it.

Man was lost if he went to a usurer, for the interest ran faster than a tiger upon him.

The bankers might not have said it in so many words, but gradually their strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads.

Somebody has been cashing checks, and they've been bouncing back on us. And these people, the poor class of Negroes and the poor class of white people, they're getting tired of it.

One of the greatest disservices you can do a man is to lend him money that he can't pay back.

We believe that you know how pernicious the vice of usury is …. We command you all by this apostolic writing not to permit those who are known as usurers to clear themselves by any subterfuge or trick when they are charged with the crime.

Debt is more of a problem for Blacks than racism. Being in debt is being in slavery.