Accountable.US Endorses Legislation to Create Supreme Court Ethics Accountability
Biden Land Rule Restores Balance to Management of Public Resources
Financial Committee Republicans Put Big Bank Donors Before Consumers in Vote to Block Credit Card Late Fee Cap
5th Circuit Judge Willett Poised to Decide His Own Financial Conflicts Are Fine in U.S. Chamber Lawsuit Against CFPB Credit Card Rule
The Biggest Public Lands Oil Drillers Boost CEO Pay And Shower Shareholders With Dividends; Cry Foul Over Biden Administration Improving Accountability
Site Menu

This press release was originally posted through Allied Progress. Allied Progress is now Accountable.US.

Predatory Protection Program?

Washington, DC (April 24th, 2020) – Today, twenty-eight members of the House of Representatives sent a letter asking that predatory payday lenders be made eligible for the Small Business Administration’s Paycheck Protection Program. These members – many of whom benefit from hefty campaign contributions from the payday industry – want predatory lenders to be treated like any other business when it comes to getting these SBA grants.

“If these members of Congress think payday lenders deserve a taxpayer bailout, perhaps they should go all the way and make sure the loan comes with a 400% interest rate, too,” said Jeremy Funk, spokesman for Allied Progress. Funk continued, “When the entire country is hurting, who gets helped first is a matter of priorities. Americans don’t need predatory lenders praying on them or their tax dollars during this crisis.”

SEE PREVIOUSLY: What Pandemic? Trump CFPB Director Readies Rules Enriching Trump’s Payday Donors.

###

back to top