Toddsterpatriot
Diamond Member
Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
How can anyone ensure that?
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Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
Private industry should have less regulation not more and certainly not subjected to bans based on emotions.This type of business should be banned.
What those banks did to our indigenous communities is fucked up. I think they got fucked over the worst.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
True. You make a great point.How do you do that? There will always be a market for these kinds of loans. If you eliminate an actual business from doing it the drug dealers and gangs will do it. At least with a payday loan company their recourse is by legal means and making you turn over your daughter to a pimp to pay it off.It's the type of business that SHOULD be banned, but I am the type of person who doesn't like to control others.This type of business should be banned.
But, I don't have a problem making it harder for them to get poor folks in the payday loop.
you’re a fucking idiotYeah, they can just get loans from the mob like the old days.This type of business should be banned.
You can’t legislate stupid. And if you’re in the payday loan loop, you’re a fucking idiot.
https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
True. You make a great point.How do you do that? There will always be a market for these kinds of loans. If you eliminate an actual business from doing it the drug dealers and gangs will do it. At least with a payday loan company their recourse is by legal means and making you turn over your daughter to a pimp to pay it off.It's the type of business that SHOULD be banned, but I am the type of person who doesn't like to control others.This type of business should be banned.
But, I don't have a problem making it harder for them to get poor folks in the payday loop.
Maybe make bankruptcy on those types the lowest of the low in a cram-down situation, or something. I don't know.
What those banks did to our indigenous communities is fucked up. I think they got fucked over the worst.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
Can you imagine getting into a loan with up to 350% interest? Thats all over the country. It is rotten.
Those shops are set up in communities that are vulnerable. Those that practice in that know exactly what they are doing. Predatory lenders are scumbags.What those banks did to our indigenous communities is fucked up. I think they got fucked over the worst.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
Can you imagine getting into a loan with up to 350% interest? Thats all over the country. It is rotten.
Can you imagine being dumb enough to take out a loan at those rates?
Doesn't matter, they're still.criminals who belong in jail.Every criminal who owns a piece of a payday loan company should be imprisoned on loansharking charges.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
They have to post their rates for all to see, unlike Jimmy kneeknocker who shylocks out of the local bar.
Loopholes and help from asswipes like tRump.Every criminal who owns a piece of a payday loan company should be imprisoned on loansharking charges.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
I don't know how they get away with it. There are usury laws.
You claim to love that document so much, why haven't you ever read it?Democrats don't obey laws, they don't have too, it's even in the constitution.Every criminal who owns a piece of a payday loan company should be imprisoned on loansharking charges.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
I don't know how they get away with it. There are usury laws.
Those shops are set up in communities that are vulnerable. Those that practice in that know exactly what they are doing. Predatory lenders are scumbags.What those banks did to our indigenous communities is fucked up. I think they got fucked over the worst.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
Can you imagine getting into a loan with up to 350% interest? Thats all over the country. It is rotten.
Can you imagine being dumb enough to take out a loan at those rates?
Those shops are set up in communities that are vulnerable. Those that practice in that know exactly what they are doing. Predatory lenders are scumbags.What those banks did to our indigenous communities is fucked up. I think they got fucked over the worst.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
Can you imagine getting into a loan with up to 350% interest? Thats all over the country. It is rotten.
Can you imagine being dumb enough to take out a loan at those rates?
350%? The only way that can happen is through government regulation. There isn’t a gangster on the planet that wouldn’t undercut 350% loans. Holy shit.What those banks did to our indigenous communities is fucked up. I think they got fucked over the worst.https://www.cnbc.com/2020/07/07/new...llions-of-americans-exposed-to-debt-trap.html
*The Consumer Financial Protection Bureau on Tuesday issued a final rule on payday lending, rescinding Obama-era provisions that would have required lenders to ensure borrowers could repay their loans before issuing cash advances.
“Last October we learned that, in exchange for contributions to the Trump campaign, payday lenders were bragging about being able to ‘pick up the phone and...get the president’s attention’ to fend off regulation,” Sen. Sherrod Brown (D-Ohio) said in a statement Tuesday. “Today, the CFPB gave payday lenders exactly what they paid for by gutting a rule that would have protected American families from predatory loans that trap them in cycles of debt.”*
Payday lenders discussed raising money for Trump’s campaign to fend off regulation, audio reveals
To ensure Democrats don’t block weaker industry rules, payday lenders said they needed access to Trump.
https://www.washingtonpost.com/busi...s-campaign-fend-off-regulation-audio-reveals/
Billing himself as one of President Trump’s top fundraisers, Michael Hodges told fellow payday lenders recently that industry contributions to the president’s reelection campaign could be leveraged to gain access to the Trump administration.
“Every dollar amount, no matter how small or large it is” is important, Hodges, founder of Advance Financial, one of the country’s largest payday lenders, said during a 48-minute webcast, obtained by The Washington Post.
“For example, I’ve gone to Ronna McDaniel and said, ‘Ronna, I need help on something,’ ” Hodges said, referring to the chair of the Republican National Committee. “She’s been able to call over to the White House and say, ‘Hey, we have one of our large givers. They need an audience. … They need to be heard and you need to listen to them.’ So that’s why it’s important.”
How Payday Lenders Spent $1 Million at a Trump Resort — and Cashed In
https://www.propublica.org/article/...ent-1-million-at-a-trump-resort-and-cashed-in
"The industry had felt under siege during the Obama administration, as the federal government moved to clamp down. A government study found that a majority of payday loans are made to people who pay more in interest and fees than they initially borrow. Google and Facebook refuse to take the industry’s ads."
..........................................................................
Predatory lenders and Trump. What a perfect match. Don is naturally attracted to grifters, being one himself. No wonder he wanted to be able to remove the leadership at the CFPB.
Making this change to the rule at a time of severe economic stress for millions of Americans is unconscionable...........and completely consistent with Trump's nature.
Can you imagine getting into a loan with up to 350% interest? Thats all over the country. It is rotten.