This is infuriating! Payday lenders destroy the lives of people who can ill afford the unreasonably high rates and fees they charge. Communities end up footing the bill in one way or another, while the payday lender drives off in his luxury car.
We should be doing more as a nation to end the vicious cycle of debt created by predatory payday lenders, not letting them thrive off vulnerable consumers.https://twitter.com/nytpolitics/status/959593794231468034 …
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You just hit the nail on the head,only the wealthy can afford the steady increase of interest rates,but they don't have to pay any because they're already loaded! Above the Law! Or so they think,I can hardly wait for show!!!
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Here is the thing about debt. The Trump tax cut will cause the US to borrow more money. Period. Even if you believe the economy will stimulate it won't do so right away. But the cuts to revenue are immediate. /1
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The govt will be taking in less money month-to-month but has the same outlay, or actually even more. That difference HAS to be made up with borrowing. You are already seeing this effect in the bond markets. /2
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It saddens me when I think of Elizabeth Warren putting her blood sweat and tears into keeping big banks in line, then having these craven scumballs undo it all.
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You need government telling you whats in your interest as to what you spend money on? Really? Research it!
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Usury used to be a crime. What happened? Why do these companies even exist? They are bottom feeders of the worst sort.
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Right. They're vultures, and they get by by bribing state legislators and Congress. Debbie Wasserman Schultz is carrying their water in Congress.. .
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I did the payday lender thing quite a few years back. It seemed like a good idea at the time and I even thought I understood the terms. But the reality was almost $1,000 more than I had anticipated. I will never make that mistake again.
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And who do these loans prey on? The middle and lower incomes. Those who cant afford them and get trapped in an endless cycle of debt.
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