Government drops cases against 'predatory' financial firms

[Yo_Mama_Been_Loggin]

One after another, the debtors were called to stand before the judge.

-snip-

In rapid succession, three more names were called. Each was being sued by Credit Acceptance Corporation, one of the nation’s largest subprime auto lenders, for thousands of dollars. This scene played out last month in Rockford, Illinois, but it has been repeated in courtrooms across the country. Every month, Credit Acceptance files hundreds of lawsuits against borrowers.

For two years, the Consumer Financial Protection Bureau, the nation’s financial watchdog, has sought to restrain Credit Acceptance, accusing it in a lawsuit of making “predatory loans to millions of financially vulnerable consumers trying to buy a used vehicle.” But the CFPB’s enforcement effort stopped in April when the agency withdrew from the lawsuit.

The CFPB’s reversal in the Credit Acceptance case reflects how, under the Trump administration, the agency’s new approach to enforcement may be felt by consumers nationwide. The agency’s withdrawal left only its co-plaintiff, the New York attorney general, to continue the enforcement lawsuit, so any final ruling would affect only New York and not the rest of the country.

https://finance.yahoo.com/news/government-drops-cases-against-predatory-163356665.html

Predatory lending is okay per Donald Trump.

[tulipsandroses]

1. Yes unleash the people actually causing harm to cause further harm. Then blame hardworking immigrants

Tell idiot MAGAnuts they can't get ahead because of immigrants picking their food, do nothing about the predatory lenders destroying them financially.

[msongs]

2. republicans drop bunker busters on victims of rapacious creditors. it's a trend nt

[Doodley]

3. This is how an olicarchy works. The super-rich and powerful pay Trump and he helps them screw over the people.