In this Majority Report clip, Trump is rolling back regulations on your favorite ninety bazillion percent loans.
We need your help to keep providing free videos! Support the Majority Report's video content by going to
http://www.Patreon.com/MajorityReport" The Consumer Financial Protection Bureau will revisit a crucial part of its year-old payday lending industry regulations, the agency announced Friday, a move that will likely make it more difficult for the bureau to protect consumers from potential abuses, if changed.
The CFPB finalized rules last year that would, among other changes, force payday lenders to take into account the ability of their customers to repay their loans in a timely manner, in an effort to stop a harmful industry practice where borrowers renew their loans multiple times, getting stuck in a cycle of debt. Those "ability to repay" regulations will now be revisited in January 2019, the bureau said.
The bureau took more than five years to research, propose, revise and finalize the current regulations. The payday lending rules were the last regulations put into place by President Obama's CFPB Director Richard Cordray before he resigned late last year to run for governor of Ohio."*
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https://www.youtube.com/watch?v=7lgav7vNpdE