Modern politicians have discovered a ripe target that is old populist demagoguing: payday lenders.
In a message on Thursday afternoon, President Obama endorsed brand brand brand new proposed guidelines through the Consumer Financial Protection Bureau to break straight straight straight down from the payday lending industry. These short-term, high-interest loan providers also have recently drawn fire from comedians like Sarah Silverman and HBOвЂ™s John Oliver.
Payday loan providers alllow for a punching bag that is easy. Moneylenders have been a popular target, and laws against usury are because old as sin. Continue reading