The Constitution dictates that the place to debate whether payday lending or any other lawful business should be allowed to operate and have access to the banking system is in the halls of Congress and the State legislatures.
Emphasis on legislative debate over banking access for lawful businesses.
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Do you think it would be a good idea for us as legislators to look at doing this in other areas of government, where we could pass off some of the risk to the private sector versus having taxpayers take on all this risk?
Small businesses are where you generate the jobs. And if we are not allowing those folks to be created, we are hurting ourselves.
Why, in the last 5 years, have there been almost no new bank charters issued? Why? What is your reasoning for that? Is it regulation? Or is it low interest rates?
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