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The agency charged with protecting Americans from financial deception is instead planning to serve them up to some of Wall Street’s worst actors under its new director.
The Payday Lending Rule is made to shield customers from the predatory machinations of payday loan providers, who utilize misleading methods to trap working people into expanding rounds of financial obligation. Nevertheless now, the customer Financial Protection Bureau has signaled intends to undermine its very own mandate to guard Americans out of this notoriously predatory industry.
The bureau is wanting to utilize regulatory rule-making to help keep Maine communities, while the US economy, confronted with the kind of unscrupulous loan provider behavior that resulted in the 2008 crash that is economic. Continue reading “Customer protection bureau is going to expose Mainers to predatory payday loan providers”

