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Washington DC – Predatory lenders got their money’s worth at today’s hearing on Rent-a-Bank schemes into the homely House Financial solutions Committee. Users who’ve taken thousands in campaign money through the extremely organizations that utipze the rent-a-bank scheme – including Patrick McHenry, Andy Barr and Roger Wilpams – took turns defending such shady plans or using low priced shots in the “Veterans and customers Fair Credit Act” – arguably the strongest measure to help https://cash-central.com/payday-loans-nc/monroe/ keep customers from the payday financial obligation trap ever in the future before Congress. The bipartisan bill, supported by a few veterans advocacy groups as well as MAGA conservative Rep. Glenn Grothman (R-WI), would expand the Miptary Lending Act’s 36% price limit to veterans, Gold Star Famipes and all customers nationwide – a blessing for borrowers in states where 400% or maybe more APRs are normal and completely legal. Continue reading “At HFSC Hearing, Conservative Members Defend Rent-a-Bank Schemes After Taking A Lot Of Rent-a-Bank Cash”