A company speaking out
May 13, 2010 | federal legislation, industry | Comments (0)From the news release:
Proposed financial reform bills currently in Congress may result in creation of a new agency called CFPA intended to regulate the financial industry to prevent a similar financial meltdown that had resulted in the economic crisis of 2008. However, these bills may be unfairly targeting businesses and hampering their contribution to the economy.
An industry being unfairly regulated is the payday loan industry and direct payday lenders. Some argue that payday advance lenders were one of the few financial institutions that contributed positively to the economy by allowing cash flow to the average working family.
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