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At HFSC Hearing, Conservative Members Defend Rent-a-Bank Schemes After Taking A Great Deal Of Rent-a-Bank Cash

At HFSC Hearing, Conservative Members Defend Rent-a-Bank Schemes After Taking A Great Deal Of Rent-a-Bank Cash

Washington DC – Predatory lenders got their money’s worth at today’s hearing on Rent-a-Bank schemes when you look at the House Financial solutions Committee

Members who’ve taken thousands in campaign money through the extremely businesses that make use of the rent-a-bank scheme – including Patrick McHenry, Andy Barr and Roger Williams – took turns protecting such shady plans or using inexpensive shots in the “Veterans and customers Fair Credit Act” – arguably the strongest measure to help keep customers from the payday financial obligation trap ever in the future before Congress.