payday lending

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payday lending: Page 1

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Luis Gutierrez pushing "loophole-riddled" payday lending bill after receiving donations from industry - 04/10/09

From this: Rep. Luis Gutierrez (D-Ill.), who heads the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, is pushing a loophole-riddled bill that would allow payday lenders to charge annual interest rates of nearly 400 percent - a proposal widely condemned by consumer advocates and some liberal Democrats, who want to put payday lenders out of business altogether... Gutierrez wasn’t always so kind to the industry. In 2006, he supported the successful effort that effectively banned payday loans to members of the military by capping interest rates for those...