Think Progress

One Chart Destroys The Talking Point Lawmakers Are Using To Protect Their Payday Lender Buddies

Congressman Dennis Ross (R-FL) is very upset that the man in charge of conducting unprecedented analysis of the payday loan industry won’t agree to lie with him.

At a hearing Wednesday, Ross and fellow House Financial Services Committee members grilled Consumer Financial Protection Bureau Chief Richard Cordray on the agency’s planned federal regulations of payday lenders. Ross and dozens of other Florida delegates have signed onto legislation to derail the CFPB’s rules, and the bill would set Florida’s current state-level regulations as the model for the nation.

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