Why is the government helping predatory lenders over people?

 

Source: Emily Stewart, Vox

People are facing a period of nearly unprecedented uncertainty, and a series of recent decisions from financial regulators is making it easier for those in need to be drawn into a spiral of debt that they can’t pay off. Regulators have loosened restrictions around small-dollar, high-interest loans, giving vulnerable people more access to loans that will cost them money they don’t have and allowing outfits such as payday lenders to send money to borrowers without checking whether they’ll ever be able to pay that money back.

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