[Editor’s note: into the brand new Washington, D.C. of Donald Trump, numerous once-settled policies within the world of customer security are actually “back in the dining dining table” as predatory organizations push to use the president’s pro-corporate/anti-regulatory stances. a report that is new the guts for accountable Lending (“Been there; done that: Banks should remain away from payday lending”) describes why perhaps one of the most unpleasant among these efforts – a proposal allowing banking institutions to re-enter the inherently destructive company of making high-interest “payday” loans must be battled and refused no matter what.]

Banking institutions once drained $500 million from clients yearly by trapping them in harmful payday advances. Continue reading →