(C) Common Dreams
This story was originally published by Common Dreams and is unaltered.
. . . . . . . . . .



Consumer Protections in Peril: Anti-CFPB Case Coming Before SCOTUS Brought by Predatory Lenders with Ax to Grind [1]

['Emily Hoyle']

Date: 2023-02-27 15:18:18+00:00

“

This baseless lawsuit is the crown jewel in a long-running, highly organized effort by greedy industries and right-wing politicians in their pocket to take out the CFPB because it works so well to protect consumers from abuse. It’s apt that predatory lenders are leading this latest assault as no industry has a bigger ax to grind against the CFPB after facing numerous fines for mistreating consumers. Predatory lenders want to shutter the CFPB to avoid any regulation of their triple-digit-interest loans that target vulnerable communities they know cannot afford to pay them back in time. Payday loan sharks and their lobbyists are in the business of ensnaring millions of Americans in a debt trap and will do anything to keep the grift going.

This is all about industry payback to the agency that has successfully recouped billions of ill-gotten dollars on behalf of hard-working families. Just remember that the special interests and politicians cheering on this lawsuit see the CFPB’s successful defense of consumers as a problem, not the huge benefit to the economy that it is.”

[END]
---
[1] Url: https://accountable.us/consumer-protections-in-peril-anti-cfpb-case-coming-before-scotus-brought-by-predatory-lenders-with-ax-to-grind/

Published and (C) by Common Dreams
Content appears here under this condition or license: Creative Commons CC BY-NC-ND 3.0..

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/commondreams/

You are viewing proxied material from magical.fish. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.