Mr. Chairman, I would like the Members of this House of Representatives and the public to pay special attention to H.R. 1701, the bill we are debating on the floor today. For those Members who have been outraged about what they have learned about Enron and Global Crossing and Qwest and WorldCom and all of those major corporations which have been found to game the system, who have been ripping off the investors, who have been putting their pensioners at risk, if Members think that is bad, they ought to pay attention to this one. This is special interest legislation at its worst, because the people who will be ripped off in these schemes are little people. They are poor people. They are working people. They are people without very much money. We talk a lot about trying to do something about predatory lending. That is, some of us. But, Mr. Chairman, this rent-to-own industry falls in the category of the check cashers and the payday lenders and even the tax preparers that are ripping off the most vulnerable of our society.
Editor's note · Context
Addressing concerns about H.R. 1701 and its impact on vulnerable populations.
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