Democrats are rushing to embrace the Obama administration’s brand new rules made to split straight straight down on short-term “payday” lenders, including even some erstwhile high-profile opponents, since the party’s anti-Wall Street left wing flexes its muscle mass.
The buyer Financial Protection Bureau has proposed the guidelines, which may need short-term loan providers to meet up criteria just like those for banks, drawing fast praise from the party’s presidential contenders.
More striking, though, had been the statements of support from Reps. Continue reading “Debbie Wasserman Schultz flips, backs loan that is payday under some pressure from kept”