THE INFLUENCE GAME: Payday lenders thwart restrictions. The strategy has paid down.

THE INFLUENCE GAME: Payday lenders thwart restrictions. The strategy has paid down.

The cash advance industry, threatened by Congress with extinction, has implemented well-connected lobbyists and hefty amounts of campaign money to key lawmakers to truly save itself.

The strategy has paid down.

Now a premier Democrat who when attempted to ban the training is alternatively pressing to manage it – an end result, he claims, associated with the industry’s lobbying clout.

The lawmaker, Rep. Luis Gutierrez, D-Ill., claims their bill comes with important defenses for borrowers and represents the most readily useful deal they can handle when confronted with a’s aggressive lobbying. Customer teams are condemning the balance being a gift that is loophole-riddled the industry.Read more