The watchdog organization Campaign for Accountability (CfA) has asked the Office of Congressional Ethics to investigate 11 members of Congress who allegedly accepted financial contributions from the payday lending industry just before, and in some cases right after, taking official actions that benefit the industry but harm the consumer. Payday lenders are notorious for predatory lending practices that take advantage of low-income individuals and families by charging extremely high interest rates on loans, then compounding the debt by rolling fees and higher interest for late payments into new loans, trapping millions of workers in a cycle of debt from which ... Read More
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