RHETORIC: Company Lobbyist Claims Florida Has Strong Payday Lending Laws
вЂњFlorida lawmakers, including Democratic National Committee seat Debbie Wasserman Schultz, have actually finalized onto legislation that will postpone the utilization of the CFPBвЂ™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 CFPBвЂ™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.вЂќ Sun Sentinel: Barney Bishop Op-Ed вЂњProtecting Vulnerable Borrowers, customers Is just an issue that is bipartisanвЂќ 4/5/2016
Bishop Happens To Be Called a вЂњBusiness Lobbyist Icon.вЂќ BishopвЂ™s company internet site records that a continuing state newsprint in Florida has described him as вЂњa company lobbyist icon.вЂќ Barney Bishop Consulting, LLC Site Accessed 4/6/2016
TRUTH: The Florida Model Is A payday lenderвЂ™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 FloridaвЂ™s Payday Lending Law.
вЂњLast 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 вЂњcredit-service companiesвЂќ not susceptible to FloridaвЂ™s payday-loan legislation. Continue reading “Truth Always Always Check: Lobbyist Misleads Visitors in Op-Ed on FloridaвЂ™s Fragile Payday Lending Laws”