Political Quotes

Elizabeth Warren: “And because banks have an exemption from State usury caps, there would essentially be no limit as to what the payday…”

On the recordApril 27, 2021
And because banks have an exemption from State usury caps, there would essentially be no limit as to what the payday lender could charge a borrower if it just funnels its loan through a bank.
Said by
Elizabeth Warren
Democratic · Massachusetts

Editor's note · Context

Warren highlights concerns about payday lenders exploiting bank exemptions on interest rates.

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