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Buried Deep Within GOP Bill: A 'Free Pass' For Payday and Car-title Lenders

Tuesday, May 30, 2017
David Lazarus | The Los Angeles Times
Diane Standaert

With that one line, Republican lawmakers have declared their willingness to allow people facing financial difficulties to be at the mercy of predatory lending practices that typically involve annual interest rates approaching 400%. "They’re trying to sneak in that provision,” Diane Standaert, executive vice president of the Center for Responsible Lending, told me. “It seems like they hoped no one would notice.”