Support the Consumer Financial Protection Bureau's action against predatory payday lenders

Posted on Leave a commentPosted in 1 percent, class war, debt, debt traps, FINANCE, petitions, Ripoffs, usury, Video

The predatory payday lending industry — “‘legalized loan sharks collect 75 percent of their fees from people stuck in more than 10 loans a year by charging 300 percent APR” — is lobbying hard to kill the proposed Consumer Financial Protection Bureau’s proposed “debt trap” rule, “that would require lenders to determine whether borrowers can […]