Biden Takes a Bite Out of Predatory Lenders

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…