Editorial: The Trump administration says hooray to payday loan debt traps
by The Times Editorial Board, Los Angeles Times
Feb 08, 2019
3 minutes
One of the Obama administration's signature consumer-protection actions was to write a long-awaited, badly needed set of rules for payday loans that the Consumer Financial Protection Bureau issued in November 2017. So it was hardly surprising Wednesday when the Trump administration, which has devoted so much effort to erasing its predecessor's accomplishments, came to the rescue of the payday lenders that monetize the desperation of financially strapped Americans.
It's a reprehensible move. And in laying
You’re reading a preview, subscribe to read more.
Start your free 30 days