The Trump-Kraninger CFPB Desires To Assist These High-Flying Payday Lender Executives Get Even Richer At Expense of Vulnerable Customers
WASHINGTON, D.C. – Consumer advocacy company Allied Progress unveiled its 3rd pair of nominees when it comes to Payday Lender Hall of Shame while the Trump management nevertheless intends to gut a consumer that is critical from the cash advance debt trap. This week, the very best professionals at Spartanburg, Southern Carolina-based Advance America have guaranteed the honor.
From an exclusive jet-loving administrator involved with almost a $19 million settlement over their company’s illegally excessive interest levels, up to a CEO whom led workers to intimidate borrowers at their workplaces, up to a VP whom dismisses payday lending caps as “arbitrary” while acknowledging Advance America’s average customers simply take seven or eight payday advances a 12 months, issue has got to be expected over and over: why are so many people such as this getting profitable unique therapy through the Trump management?
Previously this month, the Trump/Kraninger-controlled customer Financial Protection Bureau (CFPB) rolled down a proposition to undo a commonsense CFPB guideline through the Cordray-era needing payday and car-title loan providers to think about a borrower’s ability-to-repay before generally making a high-interest loan. Continue reading Allied Progress Presents Its 3rd group of Nominees when it comes to Payday Lender Hall of Shame