Concerned American
Diamond Member
When are leftists going to realize that the government is not their mommy. When you borrow money, you are promising to pay it back. The people who are using payday loans haven't got anyone to blame but themselves. The terms of the loans are posted PROMINENTLY in each store. The last one I saw posted in 4" letters that if the loan was held for a year it would cost 460%. What kind of idiot uses that kind of loan? Caveat Emptor. Live within your means.America’s Trumpiest court just declared an entire federal agency unconstitutional
Three judges appointed by former President Donald Trump handed down an astonishing decision on Wednesday, effectively holding that the Consumer Financial Protection Bureau, the federal agency charged with protecting consumers from a wide range of predatory activity by lenders and other financial services, is unconstitutional and must be stripped of its authority.
The decision by the conservative United States Court of Appeals for the Fifth Circuit relies on a novel reading of an obscure provision of the Constitution, and is entirely at odds with a Supreme Court decision that rejects the Fifth Circuit’s reading of that provision. This is not unusual behavior from the Fifth Circuit, which often reads the Constitution in novel and unexpected ways that benefit political conservatives and the Republican Party.
Indeed, Judge Cory Wilson admits in the court’s new opinion in Community Financial Services v. CFPB that “every court to consider” the arguments presented in this case has deemed the CFPB to be “constitutionally sound.”
https://www.vox.com/policy-and-poli...rcuit-supreme-court-trump-community-financial
Repubs have had a hardon for the CFPB ever since its inception. Apparently they hate consumer protections because it keeps their corporate masters from ripping off citizens.
With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.
With Republican rise, payday loan companies became a potent political force. Cash-strapped Tennesseans pay the price.
Kiyadh Burt lending analyst with Hope Policy Institute. NASHVILLE– For years, Carlos Restrepo operated a small trucking business in Nashville– until his insurance rates unexpectedly increased. After defaulting on the loan, Advance Financial sued him, and according to court documents, he will pay...insurancenewsnet.com