The Trump Administration is objectively pro-criminal.
It’s also a big loss for consumer groups, who say payday lenders exploit the poor and disadvantaged with loans that have annual interest rates as much as 400 percent.
It’s a big loss for consumers, AP.
AP acts like the poor and disadvantaged are just another annoying special interest group who want something for nothing, instead of people - people in dire financial straits who are getting ripped off with 400% interest rates.
The CFSA did not respond to an Associated Press request for comment on that criticism, but sent a statement saying it was “disappointed” with certain regulations left intact and that its members were looking forward to returning to the Doral this year.
Merely an accidental oversight which will corrected next year, unless the CFSA doesn’t hold its annual meeting at the Doral golf club in Miami.
This is literally aimed at fucking minorities. Literally. Period.
Keep in mind: Kraninger was involved int he “zero tolerance” baby concentration camps bullshit, which is why Trump loved her enough to give her her own gig trying to dismantle CFPB in a manner targeted to fuck the minorities who are legally in this country. Blond hair, tits and a vajayjay don’t save you from being called out as the white Christian nationalist nazi you are…and she is one.
The nation’s federal financial watchdog bureau of investigation said Wednesday that it plans to abolish most of its critical consumer protections governing payday lenders RICO enforcement operations.
The move is a major win for the payday lending industry Mafia, which argued the government’s regulations could kill off a large chunk of its business.
How do the credit card companies survive on a measly 25% APR. Yeah 400% - that should help.
More legalized loan sharking.
I never liked the Capital One (?) commercials with Spike Lee, Charles Barkley and whoever the 3rd black person is.
I’ve re-read that three times now, and I still can’t quite figure out whether fucking is supposed to be a verb or an adjective in that sentence. Please specify.
You gotta be shitting’ me. Only good thing would be if all trump family members get scammed by this.
This administration is like the unscrupulous toy salesman character played by Dan Ackroyd. He’s selling products like “Johnny bag o glass” and “Johnny bag over the head” and he’s challenged by the consumer reporter played by Jane Curtain.
Next for the working poor - monthly (instead of weekly) paychecks. That should save the employers some payroll costs and really help the legalized loansharking business.
It’s the rule of law of the jungle.
Hahaha…no…you will take my ambiguity and you will like it (verb, obviously).
There is something ironic in the fact that the guy who keeps stiffing his lenders wants to be the one to de-regulate them.
It’s almost like he’s expecting a quid pro quo.
“I think this is a bad development for consumers,” Cordray said. “We looked carefully at this industry and there was a common problem of borrowers getting trapped in long-term debt.
Unhappy.
I budget a small fund to pay off one or two payday loans each month for families of service members who are deployed. Another friend pays for financial management classes which is requirement for those of us paying down loans. Oregon has no military bases hence no Sergeants overseeing the well being of troops and their dependents. Military communities are favorite feeding grounds for these rodents.
Oregon laws have become much more strict over the years resulting in most predatory practices being suppressed and most predators have left the state for greener pastures… If ever there was a financial industry in need of tight regulation this is it…
I always figured that Mulvaney would get around to de-regulating his donors so it’s unsurprising.
Deepest biggest swamp ever…
Like them agreeing to do business with him again after all of them blacklisted him and Deutsche Bank was the only one left on the planet who would do business with him?
Legalized loan sharking.
Man, what is wrong with these people? They have no soul.
If I recall Aykroyd defended it by showing how you can choke on an apple or drown in a class of water!
Step 2: Debtors’ prisons.
A protection bureau that doesn’t protect
A government that doesn’t govern
A president that isn’t interested in being a Chief executive
Republicans achieving their goals