If ever you needed proof that it’s the Biden administration looking out for the little guy, while Trump looks out for himself and his wealthy donors, look no further than the right-wing attacks on the CFPB’s efforts to protect Americans from predatory lending practices. The Washington Post makes clear that the Trump administration wanted lenders to be able to make expensive loans to low-income borrowers that they could not afford to repay. The dispute began in 2017, when the watchdog agency issued rules preventing payday lenders from offering expensive loans to low-income Americans who could not afford to pay the money back.
Biden's Cfbp Fired Up Against Predatory Lending After Scotus Win
NewsHound Ellen, Crooks and Liars
Sat, 05/18/2024 - 8:19am
Sections: politics
BING NEWS:
- SCOTUS Opines in Favor of CFPB on Constitutionality of Funding
This case originated as a challenge to the CFPB's payday lending rule which was defeated in a summary ... its mission to be the primary federal watchdog protecting consumers from predatory and abusive ...
05/19/2024 - 1:00 pm | View Link - US Supreme Court upholds consumer finance watchdog agency's funding mechanism
The U.S. Supreme Court on Thursday upheld the Consumer Financial Protection Bureau's funding mechanism in a challenge brought by the payday loan industry, handing a victory to President Joe Biden's ...
05/16/2024 - 4:37 am | View Link - Supreme Court rules Consumer Financial Protection Bureau funding structure is legal
The Supreme Court ruled that the funding structure of the Consumer Financial Protection Bureau is legal. The ruling protects the CFPB from the existential threat that Republicans in a bitterly divided ...
05/16/2024 - 3:13 am | View Link - More
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