A handful of Democratic lawmakers have joined Republicans in trying to cripple the Consumer Financial Protection Bureau in a bizarre display of bipartisan cooperation.
The real question is: Why?
Especially, Florida Rep. Debbie Wasserman Schultz, whom additionally functions as chairwoman associated with the Democratic National Committee, is co-sponsoring the deceptively titled Consumer Protection and Selection Act, which may undermine the watchdog agency’s pending efforts to rein in lending that is predatory.
The balance would postpone federal laws for payday loan providers by 2 yrs.