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Cash Speaks: Meet Up With The Payday Business Cronies Testifying at Today’s Sham Congressional Hearing

Cash Speaks: Meet Up With The Payday Business Cronies Testifying at Today’s Sham Congressional Hearing

On February 11, the banking institutions and credit rating Subcommittee associated with the House Financial solutions Committee will hold a hearing entitled “Short-term, tiny Dollar Lending: the CFPB’s Assault on usage of Credit and Trampling of State and Tribal Sovereignty.”

In the event that you could maybe not inform through the name alone, the hearing is certainly not meant shed any light regarding the financial obligation trap numerous borrowers end up in after taking right out payday as well as other short-term, high-interest loans. Rather, the lending that is payday’s allies in Congress are holding this sham of a hearing to strike the buyer Financial Protection Bureau (CFPB) because it prepares brand brand new rules to rein within the worst of those predatory loan providers.

Such as the people in Congress organizing the hearing, those being called to testify are allies associated with the payday financing industry. They consist of:

Greg Zoeller: Indiana’s Attorney General Has Raked in $23,000 in Campaign money from Payday Lenders Since 2010, Including a $1000 share to their Nascent House Campaign lower than 3 Months Ago

Ace Cash Express is certainly one of Six PACs to possess directed at Zoeller’s Congressional Campaign so far

Thomas Miller: Scholar at Mercatus Center, a George Mason University Think Tank funded and founded by the Koch Brothers

Thomas W. Miller Is just A visiting scholar with all the Mercatus Center at George Mason University.

“Thomas W. Miller, Jr., is a visiting scholar with the Mercatus Center at George Mason University, whoever scientific study is targeted on foreclosures for the venture for the Study of American Capitalism and a task on tiny dollar loans for the Financial Markets performing Group. Dr. Miller is a Professor of Finance while the inaugural owner regarding the Jack R. Lee Chair in banking institutions and Consumer Finance at Mississippi State University, and co-author of “Fundamentals of opportunities: Valuation and Management” and “Derivatives: Valuation and danger Management.” He’s got held jobs at Saint Louis University, Washington University in St. Read the rest of this entry »

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