A payday lending CEO seems to have reversed the customer Financial Protection Bureau on a rule that is critical.
December 9, 2019
Nati Harnik/AP Picture
A check cashing storefront in Omaha, Nebraska
Sometime this we will learn whether one of the most brazen pay-to-play schemes of the Trump era paid off month. We’ll learn exactly what the going price is for changing a legislation. We’ll learn simply how much of our federal government is for purchase.
Plus it’s all because of a person named Mike Hodges.
He could be the CEO of Advance Financial, one of many nation’s biggest lenders that are payday. Advance runs over 100 storefronts in Tennessee, and through its site, strapped borrowers in choose states in the united states may also get an online payday loan at a excessive interest.
Hodges normally a proud supporter of president Trump, giving him $1.25 million since 2016, by their own admission. In reality, Hodges is possibly a tad too proud. You may know their name due to a business webinar he took part in this reported on recently by The Washington Post september. Them obtain access to top officials in the administration, and prompt service for their priorities in it, Hodges insisted that payday lender donations to the president will help.
“I’ve gone to Republican National Committee seat Ronna McDaniel and stated, ‘Ronna, i would like help on something, ’” Hodges stated regarding the webinar. “She’s been able to call up to the White House and state, ‘Hey, we now have certainly one of our givers that are large. An audience is needed by them. ’”
The webinar, sponsored by a market consultant known as Borrow Smart Compliance, ended up being quickly eliminated following the Post tale.