Predatory loans offer tempting stopgap for federal workers missing pay

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Short-term, small-dollar loans are often high interest and predatory in nature — and attractive to the many Americans who face dire financial circumstances.

 

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Dang...

MalcolmNance Heard Wilbur Ross believes in lending to strapped furloughed government employees, AND he’s got plenty of $. Is he not sharing any of it with them? Someone remind him he’s 81 and can’t take it w/ him.

MalcolmNance And those that caused this deliberate harm to our Federal employees, donald trump and his greedy cohorts with their fingers deep in lending, reap the rewards of high interest loans and such other opportunities.There is no wonder trump dragged it out so long with his pretend wall.

MalcolmNance Big thanx goes to DT

MalcolmNance Are the lenders big trump donors?

MalcolmNance It was exactly what that quack Wilbur Ross was suggesting!

MalcolmNance And Mick Mulvaney is on their side, not the side of Americans dealing with the results of the TrumpShutdown

MalcolmNance How much will the class action suit cost?

This is the program Mr. Ross was referring to:

There were no or low interest loans available through a Federal program passed and signed by President Trump. The program was like getting your IRS return early. They give you the amount of your paycheck then when you are paid it goes to the bank.

Congress should cover any cost of such loans.

How convenient! Does Wilbur Ross have stock in these companies? This administration has worked to dismantle CFPB , once fierce about protecting consumers from payday lenders and relaxed restrictions on these companies. We must find a solution SenWarren RepMaxineWaters

Those should be outlawed in every state!

So what you're telling us is, dumb people with poor money handling skills can be highly paid federal workers?

didnt they used to call this loan sharking and it was illegal until I think Reagan deregulated this predatory practice, while he was at it he took away regulations and allowed health care to become for profit as well, seriously what the hell is wrong with Republicans?

In 35 days? Got it

So they miss 2 checks and now she is irreversible debt? I think other financial mistakes are to blame. She could of got a temp job .

trump doesn't care about small working people, he will take over their houses & tear them down to build more shoddy condos

Predatory loans. Predatory prez. Predatory pols. Cheery, huh?

Might want to check to see if any of the management/owners of these loan shark companies that federal workers had to turn to were Trump contributors. Always, follow the money.

And the predatory loan rates will either bankrupt her or keep her in debt forever

Does anyone honestly believe that the GOP gives a crap about the suffering the TRUMPSHUTDOWN has caused Federal employees and contractors?

While attacking small-dollar loans...( I don't like them) might there also be a lesson in here about families budgeting for emergencies

She makes $1.200 dollars a week and she got her self that behind?i find this a little hard to believe..

Shouldn't the CFPB prevent these kinds of loans?

Doesn’t save $$ in bank for emergencies? Lives paycheck to paycheck? Sad

Small-dollar and payday loan companies have seen a surge in their stock prices since the government shutdown on December 22. (2/7)

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