Like my peers in Congress, we welcome brand brand brand new defenses which will guarantee customers usually do not end up in financial obligation traps.

Evidently Rep. Alcee Hastings didn’t obtain the memo that Florida progressives not any longer support the disastrous “Florida model” of payday financing and are also rather supporting the CFPB’s proposed guideline to rein when you look at the worst abuses of the predatory industry. Simply the other day Reps. Debbie Wasserman Schultz and Patrick Murphy abandoned their help when it comes to “Florida model” in benefit associated with CFPB’s approach.

Hastings Wrote Op Ed Bashing CFPB Proposed Rule to Rein in Worst Abuses of Payday Lenders…

Rep. Hastings Penned An Op Ed Saying The CFPB Rule “Will Stop Use Of Short-term Credit” For Everyone In Need Of Assistance. “The customer Financial Protection Bureau (CFPB) recently announced a rule to better protect consumers from unscrupulous dollar that is small techniques. Continue Reading