Trio of Texas Congressmen Took Thousands from Payday Lenders Within times of using Actions to assist Industry

Trio of Texas Congressmen Took Thousands from Payday Lenders Within times of using Actions to assist Industry

Customer Financial Protection Bureau’s (CFPB) Payday Lending Rule in Jeopardy – Hensarling, Hurd, and Sessions Could Vote to Gut significant New Protections

WASHINGTON, D.C. – Today, customer watchdog company Allied Progress released a chilling report that is new what sort of trio of Texas Congressmen and much more compared to a dozen other U.S. Senators and Representatives took 1000s of dollars in campaign efforts from payday loan providers within times of using official actions to profit the industry. The dubious timing of the efforts and actions taken raise serious concerns of a possible quid pro quo as Reps. Jeb Hensarling, Will Hurd, and Pete Sessions considers whether or not they will vote to repeal the buyer Financial Protection Bureau’s (CFPB) payday lending rule that is important.

Each year, it is hardly surprising that polls show payday lenders are almost universally despised“With a business model that traps millions of hardworking Americans in seemingly endless cycles of debt. What exactly is surprising – even that is bizarre seeing these three Congressmen tripping all over by themselves to aid this kind of unpopular and unsavory industry,” said Karl Frisch, executive manager of Allied Progress.

He proceeded, “The facts are, payday lenders wield power that is tremendous just on the customers they could ensnare using their high-risk financial loans, but additionally over Hensarling, Hurd, Sessions, along with other effective D.C. (mais…)

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