Last April, we identified Democratic Rep. Gregory Meeks as a member of the unofficial banking caucus — a group of 11 House representatives that have established themselves as the financial industry’s proxy voices on Capitol Hill. Rep. Meeks reminded us this week why he was included in that investigation when he declared in a meeting of mostly financial industry employees that his support for payday lenders is about trying to make sure individuals have dignity and aren’t ripped off. Stronger oversight of high-cost loans that target the poor will take options off the table, and could drive consumers to do business with a loan shark instead. If you’re focused on that market, you’ll make money, he advised.
Posted on: Fri, 18 Jul 2014 19:11:23 +0000
Trending Topics
Recently Viewed Topics
© 2015