Latest News
Showing the Latest Payday Lending Results
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Texas Rep. Henry Cuellar: The Payday ‘Lone’ Democrat
Texas Congressman was lone democrat on Appropriations Committee to support delaying CFPB payday lending rules.
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The Revolving Door and High Flying Conflicts of Hensarling’s House Financial Services Committee
New report details revolving door between committee and industry, staff raking in benefits from industry they’re paid to oversee.
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Washington Times: Debbie Wasserman Schultz Flips, Backs Payday Loan Crackdown Under Pressure From Left
“This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” said Karl Frisch, executive director for Allied Progress, which had been running television and digital ads blasting Ms. Wasserman Schultz and Mr. Murphy for their support of Florida’s payday lending laws.
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Sun-Sentinel: Wasserman Schultz Supports Payday Loan Rules
“This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” Allied Progress executive director Karl Frisch said. Wasserman Schultz’s willingness to reconsider her position is a testament to her thoughtful leadership and our representative democracy.”
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Newsweek: Moving Left, Debbie Wasserman Schultz Drops Opposition to Payday Loan Regulations
Karl Frisch, executive director of Allied Progress, called Wasserman Schultz’s move a victory. “This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” he said.
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With Wasserman Schultz Reversal, Push to Expand Disastrous “Florida Model” of Payday Lending is Dead
Allied Progress: “This was only possible because two important things happened. Tens of thousands of Americans made their voices heard and people like Wasserman Schultz and Murphy listened.”
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Tampa Bay Times: Wasserman Schultz Reverses Opposition to New Payday Lender Rules
Allied Progress, which ran ads against Wasserman Schultz, declared victory. “This is a wake-up call for progressives in Congress and every state legislature around the country. Getting in bed with the payday lending industry isn’t only bad policy, it’s bad politics,” said Allied Progress executive director Karl Frisch.
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Common Dreams: Warren’s CFPB Cracks Down on Predatory Lenders—But Will It Be Enough?
On Thursday, Allied Progress executive director Karl Frisch declared: “It’s time for our Representatives in Congress to speak up and let us know where they stand. Do they support the CFPB’s proposed rule, or not? Will they champion the needs of their constituents and those caught in the payday lending debt trap or that of the predatory lenders who fill many of their campaign bank accounts?”
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Consumer Affairs: CFPB’s Plan to Clean up Payday Loans Faces Stiff Opposition
Allied Progress, the liberal advocacy group that “outed” Wasserman Schultz, says many other Congressional representatives are in the pocket of payday loan interests. “Payday lenders have spent millions of dollars currying favor with powerful Washington politicians and they will do whatever it takes to keep this extremely lucrative predatory racket humming along,” said Karl Frisch, the group’s director.
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Group Lauds Rep. Murphy for Supporting CFPB’s Proposed Rule on Payday Lending
Allied Progress: “Other members of Congress could learn a thing or two from this demonstration of thoughtful leadership.”