Payday lenders flex their muscle mass on Capitol Hill

Payday lenders flex their muscle mass on Capitol Hill

By Charlene Crowell NNPA Information Wire Columnist

For a long time misleading and predatory loan providers have actually bilked millions of trusting consumers from their hard-earned monies, while customer advocates have battled right right right back for fair and clear financing. On February 11, another round that is contentious of on debt-trap lending took place on Capitol Hill. Unlike past discussion boards, nevertheless, this 1 included a bias that is open.

A subcommittee of House Financial Services, held a hearing known as, “Short-term, tiny Dollar Lending: the CFPB’s [Consumer Financial Protection Bureau] Assault on use of Credit and Trampling of State and Tribal Sovereignty.”

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