Rules that protect the consumer are one thing. Laws against fraudulent or misleading advertisement or business practices exist, although they should be more strictly enforced. Caps on fully disclosed interest rates are another issue altogether. I, and other people I know, have had situations where 35% annual rates (and the worst that can happen is bankruptcy) were a very good decision. People out of cash to eat on until their next paycheck, college seniors, people needing money for a car or even gas they need to reach work all have very high discount rates. By capping rates, you're may be forcing some of these people to go to loan sharks, who, because of the risk inherent in their business, have to charge even higher costs and have a more strenuous debt collection process. Those that don't choose this alternative will simply have to do without. That's less cold-hearted?