By Chris Gillock
Bill Isaac had been president regarding the FDIC from 1981 through 1985, a time that is tumultous the U.S. bank system. Their “take” in the CFPB’s proposed payday financing regs is interesting (see American Banker piece below). The high-cost cash loan company will perish underneath the CFPB’s proposed guidelines. It is very good news for unlawful loan sharks…..but perhaps not so great for the folks looking for crisis loans…….
CFPB Payday Arrange Will Harm Those It Seeks to greatly help
Reading the buyer Financial Protection Bureau’s proposed rules for regulating payday loans, i possibly couldn’t assist but recall the belated Yogi Berra’s line, “It’s like dГ©jГ vu yet again,” alongside the oath that is hippocratic“First, do no harm”). Read More “Bill Isaac’s United States Banker Article re: Payday Lending”