Paul S. Sarbanes: “But if I am the consumer and I am led into paying a higher interest…”

On the recordMarch 20, 2003

But if I am the consumer and I am led into paying a higher interest rate than I otherwise would qualify for, and then the receiver of the higher interest rate, the lender, pays out money because he has gotten this higher interest rate, and that money doesn't come to me, the borrower, but it goes somewhere else, I am being taken for a ride, aren't I?

Said by

Paul S. Sarbanes

Source

congress.gov

Mar 20, 2003

Editor's note · Context

Sarbanes discusses consumer deception in mortgage interest rates.

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Paul S. Sarbanes: “But if I am the consumer and I am led into paying a higher interest rate than I otherwise would qualify for, and then…”

Editor's note · Context