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I’ve been honored to serve my community in Congress. Cindy & I have decided that I will not seek re-election. I look forward to continued public service in my next chapter, where I will return to the practice of law and will pursue opportunities to increase civic education.pic.twitter.com/hI7MDDcjbd
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Today, I'm honored to attend the ceremony of Rev. Graham laying in Honor in the Capitol. He was a modern day Apostle Paul who converted millions of souls to Christ. Welcome home. "My home is in Heaven. I'm just traveling through this world." - Rev. Billy Grahampic.twitter.com/zF4zpqV8Fg
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If consumers really were getting caught in a "debt trap," the data would show consumers "trapped" in the market. But Florida, South Carolina, and Illinois each found that payday loan consumers leave the marketplace over time. That doesn’t sound like a trap.
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Compare that to reputable studies that bothered to look. (Economists with the Federal Reserve Board in 2013 did, among others.) Numerous folks found that over the long term, payday loans provide a net benefit to a consumer's financial situation.
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Even worse,
@CFPB restricted its pool of data by looking at a mere one-year period. You need a longer period of time to know how users of these loans behave. Heck, in its own study, CFPB admitted that it needed to analyze data over a longer period of time. It didn’t.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
@CFPB ignored the abundance of data available from the states, instead taking a broad view rather than a deep dive into the data. What they did amounted to glancing at several lenders across multiple jurisdictions with different rules and regulations. That’s not a clear picture.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
Not only does the
@CFPB's research fail to establish that payday lending is harmful to consumers across the country in the long term, it also fails to prove that this rule might be effective in alleviating that purported harm.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
If
@CFPB is going to regulate, it needs to do so with appropriate data. Unfortunately,@SenWarren &@RepMaxineWaters have been misled: CFPB’s didn’t do anything resembling exhaustive research for five years. They skimmed what little data they cherrypicked.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
First, let’s consider what payday loans mean for the economy: 12 million consumers use payday loans. 60,000 American jobs depend on this industry. This isn’t a small portion. Many people who need access to credit get it from payday lending.
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The first words Samuel B. Morse used on the telegraph were, “What hath God wrought?” I suspect the first 911 call was, “WHAT HATH GOD WROUGHT?!?!?!?!?!?!?!?!"https://twitter.com/HouseCommerce/status/964532061414592512 …
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My op-ed in the Morning Consult today looks at how
@CFPB failed to use accurate and complete data when making its rule on Payday Loans. You don’t have to love payday loans to believe that we should be careful about regulating in a way that could hurt low-income Americans.https://twitter.com/MorningConsult/status/964530059003314176 …Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
Dennis Ross Retweeted
In these tragedies There is always an innocent hero who dies so others can live. May Mr Feis R.I.P.https://twitter.com/msdeagles/status/964055383970123776 …
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Very moving. Some real heroes who saved kids’ lives.https://twitter.com/JoshuaChavers/status/964138128494727168 …
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Speaking of Sheriff Grady Judd, I gave him a copy of my remarks in the congressional record during the
#MCSA18 reception.#Leadingtheway@MCSheriffs@PolkCoSheriff Don’t call it a Valentine!pic.twitter.com/LAIBUxVVw9
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Sheriff Judd is a national treasure and all Americans will benefit from his advocacy for safer communities.
#MCSA18#Leadingtheway and@MCSheriffs@PolkCoSheriffhttps://twitter.com/ledgeropinion/status/963907170986274816 …Thanks. Twitter will use this to make your timeline better. UndoUndo -
Grateful for the response of our law enforcement.https://twitter.com/browardsheriff/status/963883429816303623 …
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Enjoying
@SteveScalise’s Valentine themed logo today. I guess we should call it the "Fleur-De-Scalise."pic.twitter.com/uT6Zn8tq0J
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This winter olympics needs more palm trees.
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Terrible to see this. We are blessed to live in the United States, and we must stand for freedom everywhere.https://twitter.com/ArminNavabi/status/962203666118660096 …
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Cindy and I offer our thoughts and prayers to the Trump family in light of the hospitalization of Vanessa and other members of the household.
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