O’Connor: pay day loan work is just a payday for someone

O’Connor: pay day loan work is just a payday for someone

Payday lenders reportedly contributed $31,250 to Rep. Debbie Wasserman Schultz, seat regarding the Democratic National Committee. (Picture: Andrew Burton / Getty Pictures)

More Democrats are taking another swipe during the customer Finance Protection Bureau, this time around arriving at the rescue of the downtrodden and group that is unfortunate of referred to as payday loan providers. The best choice associated with the work, chairwoman for the Democratic National Committee Debbie Wasserman Schultz, believes it is fine and dandy to offer hopeless borrowers interest levels of 312 % ’cuz that’s what her campaign contributors do in Florida, where Burmese pythons rule the Everglades and snakes of a kind that is entirely different in to donate to users of Congress.

Obviously, I'm not suggesting that any such thing as unseemly as filthy lucre would intrude regarding the process that is decision-making of Wasserman Schultz and her peers, besides the $13 million that the nonprofit People in the us for Financial Reform discovered payday lenders have actually invested since 2013 on lobbying and campaign efforts to 50 lawmakers. When you look at the last election period, in accordance with the Miami Herald, payday lenders contributed $31,250 to — and prepare become surprised right here! — Wasserman Schultz.

OK, so you’re not shocked.

Little Debbie’s crumb cakes

That’s understandable, because this is not the whack that is first Schultz along with other Democrats took during the CFPB. (more…)

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