Mike directs U.S. PIRG’s campaign that is national protect customers on Wall Street as well as in the economic market by protecting the customer Financial Protection Bureau. Mike additionally works for more powerful privacy protections and corporate accountability in the wake for the Equifax information breach—which has received him extensive nationwide news protection in many different outlets. Mike everyday lives in Washington, D.C.
1. The debt that is payday ruins life, harms families and hurts communities.
“But the bigger objective of assisting families avoid a monetary trap is within the most readily useful interest of neighborhood communities in addition to state. Into the run that is long household security will work for company because economically healthier families help regional businesses along with their business. This cannot happen if a household’s earnings goes to interest and costs on a predatory loan.” – The Editorial Board of this Arizona Republic on its conservative argument for federal payday regulations.
2. Establishing individuals up to get loan after loan once you understand they can’t pay the very first one is perhaps perhaps not reasonable.
The nationwide average APR for payday advances is 391%. [Read more...]