Bill Isaac had been president associated with FDIC from 1981 through 1985, a time that is tumultous the U.S. bank system. Their вЂњtakeвЂќ from the CFPBвЂ™s proposed payday financing regs is interesting (see American Banker piece below). The cash that is high-cost company will perish beneath the CFPBвЂ™s proposed guidelines. This is certainly news that is good unlawful loan sharksвЂ¦..but not brilliant for the people searching for crisis loansвЂ¦вЂ¦.
CFPB Payday Arrange Will Harm Those It Seeks to simply help
Reading the customer Financial Protection BureauвЂ™s proposed guidelines for managing payday loans, i really couldnвЂ™t help but remember the belated Yogi BerraвЂ™s line, вЂњItвЂ™s like dГ©jГ vu yet again,вЂќ alongside the Hippocratic Oath (вЂњFirst, do no harmвЂќ). Continue reading