Republicans' Den Of Payday Lenders SMACKED!!!!

[Phoenix68]

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Supreme Court Saves Consumer Protection Agency From
"conservatives" / Payday Lending Industry
May 16, 2024
.​

"The Supreme Court ruled Thursday that the federal watchdog, created in response to the 2008 financial meltdown, may continue to operate in its current form, brushing aside claims from the payday lending industry that could have severely jeopardized years of consumer-friendly banking regulations.

Justice Clarence Thomas wrote the majority opinion for a 7-2 court.

The ruling is a victory for the Biden administration, which argued that a lower court’s decision invalidating the Consumer Financial Protection Bureau’s funding would have gutted years of popular regulations on mortgages, car loans and credit cards. Congress created the bureau in 2010 to protect consumers from financial scams.

Republicans have long been skeptical of the agency, originally envisioned by Massachusetts Democratic Sen. Elizabeth Warren.

The payday lending groups sued over a 2017 bureau rule that prohibited attempts to withdraw payments from accounts after two consecutive tries failed due to insufficient funds. Repeated withdrawal attempts can subject borrowers to extra banking fees."

.​

 

[the annoying thing]

.
Supreme Court Saves Consumer Protection Agency From
"conservatives" / Payday Lending Industry
May 16, 2024
.​

"The Supreme Court ruled Thursday that the federal watchdog, created in response to the 2008 financial meltdown, may continue to operate in its current form, brushing aside claims from the payday lending industry that could have severely jeopardized years of consumer-friendly banking regulations.

Justice Clarence Thomas wrote the majority opinion for a 7-2 court.

The ruling is a victory for the Biden administration, which argued that a lower court’s decision invalidating the Consumer Financial Protection Bureau’s funding would have gutted years of popular regulations on mortgages, car loans and credit cards. Congress created the bureau in 2010 to protect consumers from financial scams.

Republicans have long been skeptical of the agency, originally envisioned by Massachusetts Democratic Sen. Elizabeth Warren.

The payday lending groups sued over a 2017 bureau rule that prohibited attempts to withdraw payments from accounts after two consecutive tries failed due to insufficient funds. Repeated withdrawal attempts can subject borrowers to extra banking fees."

.​

And how do you know they are concretive owned . And who are the morons who use it,