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Senate Votes to Repeal Trump Rule Helping Predatory Lenders Trap People in Debt


Senate Votes to Repeal Trump Rule Helping Predatory Lenders Trap People in Debt
Then-President Donald Trump walks away after speaking to the press before departing from Andrews Air Force Base in Maryland on October 31, 2020.
MANDEL NGAN / AFP via Getty Images
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The U.S. Senate on Tuesday voted largely along party lines to repeal a Trump-era rule that has made it easier for predatory payday lenders to dodge state-level interest rate limits and trap vulnerable, low-income people in debt.
By a vote of 52-47 with Sens. Cynthia Lummis (R-Wyo.), Susan Collins (R-Maine), and Marco Rubio (R-Fla.) crossing the aisle in support the Senate passed a Congressional Review Act (CRA) resolution that would undo the Trump administration’s change, which financial industry watchdogs and consumer advocacy groups have taken to calling the “fake lender” rule. ....

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A tipping point for the defeat of fossil fuels?


NationofChange
How to stop Big Energy in its tracks (quite literally).
As Donald Trump gave in to the demand that the transition process to the Biden years officially begin, the administration and its fossil-fuel allies doubled down on their efforts to implement destructive environmental policies that President Biden might try to reverse. Those initiatives have included a campaign to jump-start oil drilling in the pristine Arctic National Wildlife Refuge; the approval by the U.S. Army Corps of Engineers of the long-delayed Enbridge Line 3 tar sands pipeline in Minnesota; and a push by utility companies to obtain funding and permits for the construction of 235 gas-fired power plants, each with a 30-year life expectancy. ....

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