Truth Always Always Check: Lobbyist Misleads Visitors in Op-Ed on Florida’s Fragile Payday Lending Laws

Truth Always Always Check: Lobbyist Misleads Visitors in Op-Ed on Florida’s Fragile Payday Lending Laws

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RHETORIC: Company Lobbyist Claims Florida Has Strong Payday Lending Laws

“Florida lawmakers, including Democratic National Committee seat Debbie Wasserman Schultz, have actually finalized onto legislation that will postpone the utilization of the CFPB’s payday loan guidelines for 2 years and exempt states like Florida that currently have strong cash advance legislation from the publications from applying the CFPB’s standard that is federal. The legislation, the customer Protection and solution Act, balances both the necessity to control short-term loan providers and the want to protect usage of credit for low-income borrowers.” Sun Sentinel: Barney Bishop Op-Ed “Protecting Vulnerable Borrowers, customers Is just an issue that is bipartisan” 4/5/2016

Bishop Happens To Be Called a “Business Lobbyist Icon.” Bishop’s company internet site records that a continuing state newsprint in Florida has described him as “a company lobbyist icon.” Barney Bishop Consulting, LLC Site Accessed 4/6/2016

TRUTH: The Florida Model Is A payday lender’s fantasy: Riddled with Loopholes and Massive Interest Rates. Average Debtor Takes Out 9 Loans.

Payday Lenders in Florida Claimed These Were Credit Provider Companies Not Susceptible To Florida’s Payday Lending Law.

“Last 12 months, their state workplace of Financial Regulation started looking at the techniques of EZMoney and money America, two Texas-based chains that claim become “credit-service companies” not susceptible to Florida’s payday-loan legislation. Continue reading “Truth Always Always Check: Lobbyist Misleads Visitors in Op-Ed on Florida’s Fragile Payday Lending Laws”