Wasserman Schultz is co-sponsoring a new bill https://www.congress.gov/114/bills/hr4018/BILLS-114hr4018ih.pdf that would gut the [Consumer Finance Protection Board’s] forthcoming payday loan regulations. She's also attempting to gin up Democratic support for the legislation...
The CFPB hasn’t issued final regulations, but Republicans and the person supposedly running the Democratic National Committee have been fighting hard to protect those predatory lenders (and other enemies of American consumers).
According to DWS, the feds should stay out of it and adopt Florida’s approach to payday lenders, a law that she proudly admits to “helping write.” And what about that law?
The average interest rate on Florida's payday loans is 304 percent -- only slightly better than the 390 percent annual average. Critically, the average payday loan amount of $389 is equal to 35 percent of average paychecks in the state -- in line with national figures. Odious. And, I suspect, getting rid of her is something that both Hillary Clinton and Bernie Sanders supporters can agree on. http://www.dailykos.com/stories/2016/3/1/1494097/-Debbie-Wasserman-Schultz-goes-to-bat-for-predatory-lenders
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