Well FAKE CHEROKEE ELIZABETH WARREN, Senator from Massachusetts group is now harming, you know...REAL Indians.
The Consumer Financial Protection Bureau (CFPB), the watchdog agency conceived of and established by Sen. Elizabeth Warren (D-Mass.) in the wake of the financial crisis, is making things difficult for tribal Lenders, as evidenced by the recent hearings into Payday lending.
During a hearing of the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee, Habematolel Pomo of Upper Lake Chairwoman Sherry Treppa said the CFPB’s expected new rule on short-term, small-dollar lending may disregard many tribes’ strict frameworks for regulating their lending businesses and protecting consumers.
“I remain concerned that the CFPB is developing its proposed action in a vacuum without consulting with tribes to learn about the innumerable tools that we have developed to ensure that we conduct business in a manner that is fair, responsible, compliant and benefits our tribal members and the American consumer,” Treppa said at the hearing.
Treppa said that her tribe had transformed its economy and governmental services through its online short-term lending business — progress the CFPB’s rule could undermine, she said.
Our friends at HOT AIR Looks like watching out for the little guy is a problem for Fauxahontas:
The agency also had vast cost overruns when building their headquarters when they were first approved, further making a joke of the idea ofconsumer financial protection, since you’d think that the taxpayers would be the largest group of people in need of some help guarding against the abuse of their money.
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