CORY DOCTOROW / 10:54 AM FRI JAN 19, 2018
The Consumer Financial Protection Bureau, founded by Elizabeth Warren prior to her career as a senator, was once the gem of the US political system, a consistently effective force for punishing finance industry wrongdoing, until Trump let Wall Street robber barons loose on it, under the direction of a lawyer who represented loan sharks before going to work for the Trump administration.
Now, the CFPB has signaled its intention to cancel the new rules limiting the worst behavior of the payday lending industry, a $50,000,000,000 force who will be able to go on charging 300% APR interest to people borrowing from paycheck to paycheck. The rules were scheduled to go into effect next August.
The CFPB has also dropped action against payday lenders who were caught charging 1000% interest.
Read more
https://boingboing.net/2018/01/19/debt-traps.html
This blog will focus on political images I have found all around the Internet, though I will intersperse some commentary and quotes that I find interesting.
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