Payday lenders spent more than $15 million during the last election to lobby and elect Members of Congress. If the CFPB comes down hard on the industry with tough new rules as is expected, you can bet they will spend even more during this election.
Jeb Bush, in case you haven't heard, spent the entire week coming up with a believable answer to one question After watching Bush twist in the wind this week, we can't help but wonder if the 2016 Republican nomination race is going to closely resemble the 2008 Democratic nomination fight.
If you haven't heard this saying; you probably live under a rock or haven't experienced the disappointments that come with leading anyone money. This saying was originally coined by Shakespeare, the great Poet and Playwright.
Earlier this summer, CFPB Director Richard Cordray named Patrick O'Shaughnessy, the CEO of Advance America, one of the largest payday lending chains in the country, to an Advisory Board position at the CFPB.
In the over 90 years since William Jennings Bryan's death, we have seen scores of major atrocities played out with the theory of "survival of the fittest" as a motivating factor. We are also seeing it at every level of business and society.
Some of the most important pathways to middle class American life become out of reach when one has little or no credit history. Buying a car or house, or sending a child to college can become close to impossible.