Financial Reform

Is Congress representing the people or payday lenders?

Sometimes you just have to wonder what Members of Congress are thinking about. Consider the example of a bill known as H.R. 4018. First filed last November with only five co-sponsors. By mid-December the co-sponsor list grew to 24 representing districts in seven states.  Most notably, 10 Florida Representatives signed on as co-sponsors sponsors that are both Democratic and Republican, Black, Latino and Anglo. And who would object to a bill with the title, the “Consumer Protection and Choice Act”? What’s not to like? A lot. The bill is designed to severely limit the Consumer Financial Protection Bureau’s (CFPB) ability