Biden Takes a Bite Out of Predatory Lenders

Andy Spears
3 min readJul 6, 2021

Following bipartisan votes in the House and Senate, President Biden recently signed a bill ending a Trump-era rule that allowed payday lenders to circumvent state interest rate caps.

Pro-consumer legislators are applauding the victory:

U.S. Senator Chris Van Hollen (D-Md.), a member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, and Committee Chairman Sherrod Brown (D-Ohio) applauded President Biden’s signing of their resolution into law to repeal the Trump Administration’s so-called True Lender Rule through…

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .