Florida battles government legislation of payday advances, pushes very own law as nationwide model

December 8, 2020 No comments yet

Florida battles government legislation of payday advances, pushes very own law as nationwide model

A former Florida lawmaker who was instrumental in helping the Sunshine State pass one of toughest laws protecting consumers from predatory lending is warning that the federal proposal is too heavy-handed, strips states of their rights and deprives consumers of emergency lending options as the Consumer Financial Protection Bureau embarks on a rule-making process that payday lenders estimate will put 70 percent of their industry out of business.

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