Meeting overturns Trump-era requirements on payday loan providers

Legislation allowed payday loan providers in order to prevent state interest-rate hats

The U.S. Capitol in Arizona.

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  • NEW YORK — Congress on monday overturned some guidelines enacted through the final days of the Trump government that successfully helped payday lenders to protect yourself from condition guidelines capping interest rates.

    Home elected 218-208 to overturn your job of the Comptroller of the Currency’s payday loaning laws, with one Republican voting with Democrats.

    Sunday’s ballot to overturn the OCC’s “true lender regulations” marked the first time Democrats in meeting successfully overturned regulation using the Congressional Evaluation operate. Continue reading “Meeting overturns Trump-era requirements on payday loan providers”

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