Congress repeals later part of the Trump-era regulations that allowed payday lenders to prevent interest caps a€“ Pittsburgh, Pennsylvania

Congress repeals later part of the Trump-era regulations that allowed payday lenders to prevent interest caps a€“ Pittsburgh, Pennsylvania

Associated video: Biden embraces bipartisan system deals By overturning the Trump management’s policies passed in belated 2020, Democrats block payday loan methods, which experts known as a€?bank lendinga€? system

Parliament on Thursday overturned a set of regulanytions enacted on the last day of really Trump administratiregarding, effectively allowing payday loan lenders to circumvent interest rate-restricting state laws. The House of Representatives cast 218-208 votes to overturn the Office of the Comptroller’s payday loan regulations. Thursday’s vote to overturn the OCC’s a€?true lender rulesa€? Continue reading