A predatory model that can’t be fixed: Why banking institutions should really be held from reentering the loan business that is payday

A predatory model that can’t be fixed: Why banking institutions should really be held from reentering the loan business that is payday

Editor’s note: within the Washington that is new, of Donald Trump, numerous once-settled policies when you look at the world of customer security are actually “back from the dining table” as predatory organizations push to make use of the president’s pro-corporate/anti-regulatory stances. a new report from the middle for accountable Lending (“Been there; done that: Banks should remain away from payday lending”) describes why probably the most unpleasant among these efforts – a proposition to permit banking institutions to re-enter the inherently destructive company of making high-interest “payday” loans must be battled and refused no matter what. (more…)