Alcee Hastings

Lawmakers are fighting efforts to rein in predatory lending. Why?

Lawmakers are fighting efforts to rein in predatory lending. Why?

In a bizarre display of bipartisan cooperation, a handful of Democratic lawmakers have joined Republicans in trying to cripple the Consumer Financial Protection Bureau.

The question is: Why?

Most notably, Florida Rep. Debbie Wasserman Schultz, who also serves as chairwoman of the Democratic National Committee, is co-sponsoring the deceptively titled Consumer Protection and Choice Act, which would undermine the watchdog agency's pending efforts to rein in predatory lending.

The bill would delay federal regulations for payday lenders by two years. It also would allow states to adopt more lenient rules for the industry.

Wasserman Schultz is joined by eight other...

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