Wasserman Schultz backs bill to delay payday loan rules

[datguy_6]

This discussion thread was locked as off-topic by BooScout (a host of the Latest Breaking News forum).

Source: The Hill

The chairwoman of the Democratic National Committee is pushing a bill that would delay new payday lending regulations.

Rep. Debbie Wasserman Schultz (D-Fla.) is co-sponsoring the Consumer Protection and Choice Act, which would delay for two years pending rules from the Consumer Financial Protection Bureau (CFPB) meant to crack down on abusive payday lending.

She has started rallying Democratic support behind the bill, according to the Huffington Post.

The legislation would also exempt states with exisiting payday lending abuse laws from the rules. Wasserman Schultz's home state of Florida has one such law on the books, and 12 of the bill's 24 co-sponsors are also from the Sunshine State.



Read more: http://thehill.com/policy/finance/banking-financial-institutions/271302-dnc-chief-backs-bill-to-hamper-payday-loan

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Hmm...wonder why?

[azurnoir]

1. WWHD?

[seaotter]

2. The corporate overlords have spoken.

[arcane1]

3. But she has a "D" next to her name, so we MUST support this move. Right?

Right??

[seaotter]

5. Yes, you must be brought to heel.

[abelenkpe]

8. Just like we must support privatizing public schools

and democratic governors who push for fracking in drought ridden, earthquake prone areas. C'mon. Everybody's doing it.

[arcane1]

17. And "everyone" is always, conveniently, republicans.

They're playing us for fools.

[valerief]

4. Oh, but big money NEVER affect politics. The big, big donors "just LOVE throwing their money

around," as Bernie speculated.

[arcane1]

7. I can't wait until Clinton is asked about this and whether she agrees with it.

Assuming she ever gets asked.

[jeff47]

15. She'll say it's bad, and it will be thrown around as proof that she really cares

about "the little guy".

If elected, she'll sign the bill.

[friendly_iconoclast]

22. "If elected, she'll sign the bill." Bet on it...

[arcane1]

25. And so-called progressives here will cheer for and defend it.

I'm going to be very tired of saying "We tried to warn you" if Clinton wins the presidency.

[shadowmayor]

6. As Carlin said

They don't give a fuck about us. They don't care at all.

[potone]

9. This woman has got to go.

She is a disaster across the board. I can't even stand to see her face anymore.

[FairWinds]

10. I'll be sure to keep this in mind . .

the next time the DNC calls and asks for $

[gregcrawford]

11. Wasserman Schultz is the distilled embodiment...

... of all that is vile and corrupt in the Third Way branch of the DINO Party. I wouldn't trust her any farther than I can throw my truck. Overhand!

[blackspade]

12. Completely expected from DWS.

[litlbilly]

13. Wow does she have to go like right now...

[Myrina]

14. Meanwhile in Indiana ... the state legislature just approved 'new' interest rates ...

... on consumer loans, etc ... lenders can now legally charge up to 180%.

No fucking lie.

[Dont call me Shirley]

16. The NewDems screw the poor more and more, zero compassion, zero conscience, zero equality.

[arcane1]

18. Good Cop/Bad Cop all over again n/t

[Dont call me Shirley]

20. Or revenge politics?

[mhatrw]

19. Any DNC supporters who want to defend DWS on this?

Or are you all too busy taunting Sanders supporters in a coordinated attempt to deflate and demoralize them?

[arcane1]

21. The memo hasn't been distributed yet.

All we have is one dishonest person saying "hey, payday loans helped me out"

[mhatrw]

24. LOL! "Loan sharks are so awesome!"

No wonder they always wait for instructions.

[turbinetree]

23. This says everything ......................

Hey, Debbie, while your gallivanting around and doing whatever you are doing, which doesn't look very good, did you read this law in its present form from Florida, I mean did you really read it---------------I know it says that a person can only take one $500 shark loan out at a time, but it doesn't say one thing about how many is to many..........................you know going into the negative, which some of these folks are already in...........................with multiple shark loan rates for example, 10% here, 10% there, which in book adds up to 20%--------------------or is my math wrong......................tell me

While the hedge fund managers and banks where bankrupting the country what did you actually do to protect the consumers of this form of shadow banking practices ..............................

http://www.nolo.com/legal-encyclopedia/florida-restrictions-payday-loan-lenders.html


Or how about this...........................

http://www.thievesblog.com/poverty/

http://action.npa-us.org/page/s/cfpb-stop-the-payday-shark-attacks-

[EndElectoral]

26. She has lost it.

[Depaysement]

27. See below - Coffee Cat had an excellent response

http://www.democraticunderground.com/12511382744

[apnu]

28. Well we know somebody's check cleared...

... right into DWS's bank account.

[BooScout]

29. Locking...

This is a duplicate of this thread: http://www.democraticunderground.com/10141364584