Regulations on Pay Day Lending Have Been Removed

Payday loan industry get big win and celebrates in style.

Recently the payday lending industry hosted its annual convention at President Donald Trump’s Doral golf resort. They had a lot to celebrate because last month the regulations protecting low income consumers were dismantled. Lobbyist guide the leaders of these industry to spends millions impressing and sometimes directly befitting high ranking officials. In turn rules are loosened or completely removed and human nature gets the best of those that can't afford to pay for it.

Watch here to see how these product trap those who can't afford it to pay exorbitant fees.

https://www.consumer.ftc.gov/media/video-0078-payday-lending

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