On the recordFebruary 14, 2018
This is going to hurt ordinary folks who can't make paycheck to paycheck, and they are going to have to pay these exorbitant interest rates. Now, if the majority comes up with a bill that says we want to expand the SBA, we want to expand figuring out how to get venture capital into rural America, we want to expand the earned income tax credit so that people have more money in their pocket so that they can make a living and meet their daily expenses, I agree. If they say, look, all the capital, 85 percent of the capital is in my district in Massachusetts and New York, and we have got to get the capital into other States, I agree. But to say that just to use the word ``fintech'' and to say okay, because there is something that is going to allow the diffusion of capital, that that means that you should get rid of the State laws capping usury, that is really going back to the Victorian era. I mean, we had that debate. I was reading Shylock; that was what that was all about. They were charging four times as much, and I just don't think that that is what people want.





