09
Jan

OBAMA’S OPERATION CHOKE POINT SEEKS TO DESTROY PAYDAY LOAN INDUSTRY

JER TRIHOUSE MUST READ: From Breitbart News.

“In an exclusive interview with Breitbart News on Monday, Richard Manning, Director of Communications for Americans for Limited Government, criticized the Obama administration’s efforts to destroy the payday loan industry. “Their intent,” Manning said, “is to create a government sanctioned means of driving private industry out of the business of providing payday loans. They’ve never shown a great willingness to be restrained by free market principles over the use of government sanctions.”

Sources tell Breitbart News that a new Consumer Financial Protection Bureau rule designed to crush the payday loan industry is expected to be announced in January.

In an August 22 editorial, the Washington Times became the first media outlet to alert the public to this isssue. “President Obama,” the Times wrote,” doesn’t like payday lenders, and neither, particularly, do we. But rather than seek changes by legislation or an open rule-making process to propose reform, the White House simply cracked down on payday lending.”

Read this piece in its entirety here: Breitbart News – Operation Choke Point

Using the payday loan “store model?” Looks like a no-brainer! Start here: PaydayLoanUniversity.com

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