Warren and Wasserman Schultz Clash Over Payday Lenders

[Purveyor]

by Zachary Roth, Apr 6 2016

The head of the Democratic Party and one of its most popular figures are at odds over the Obama administration's plans to regulate the payday lending industry.

Rep. Debbie Wasserman Schultz, D-Florida, the chair of the Democratic National Committee, is co-sponsoring a bill along with several other Florida lawmakers that would water down a forthcoming effort to regulate payday lenders, whose high-interest loans, consumer advocates say, often trap the poor in a cycle of debt. The Floridians want the federal government to instead use an approach tried in their state, which consumer advocates say has done little to protect borrowers.

The new rules are being drawn up by the Consumer Financial Protection Bureau (CFPB), the government agency that was established in 2010 thanks in large part to the efforts of Elizabeth Warren.

The controversy has put Wasserman Schultz in the left's cross-hairs. In a series of tweets last month, Warren, now a Democratic senator from Massachusetts, called on lawmakers not to mess with the CFPB's attempt to rein in the industry. In recent years, Warren has emerged as a powerful spokesperson for progressive economic issues, and as arguably the most popular Democrat in the country.

It's not just Warren. A liberal group paid for electronic billboards in Wasserman Schultz's south Florida district that say she's on the side of payday lenders, not President Obama, and label her "Debt Trap Debbie."

more...

http://www.nbcnews.com/news/us-news/warren-wasserman-schultz-clash-over-payday-lenders-n551681

[chapdrum]

1. Prime example of predatory capitalism.

Naturally, DWS supports it.

Grateful to Warren for her steadfast dedication.

[Baobab]

2. Why should the government protect people? Corporate interests donate more money.

Thats kind of the message these ugly facts send Americans. maybe its time for a different kind of voting system, one which allows people to choose second and third choices, and doesn't allow just two (right wing OR left wing) parties to become dominant.

[Fantastic Anarchist]

16. I generally agree with your post, however, ...

... there is no Left-wing party in the US (unless you count the Green Party - but it's not a viable party). The first past the post Electoral College is designed for this - which would be fine if there were actual remarkably substantive distinctions between the parties. Yes, there are some distinctions, especially in the social realm, however, between both the Democratic Party, and its opposition party, the Republicans, however large the degree of distinction (which I do not wish to debate), the Democratic party would still be considered right of center in most developed nation (especially those in Europe).

Again, I agree in general purposes - and actually don't believe in a party system at all, but practically speaking, if there are going to be two parties, I would certainly hope for a clear Left-wing party to hang my hat on. Of course, there is no need, for me personally, of Right-wing parties, but do understand, practically speaking, that others have differing opinions to mine, and can, for the health of competing ideas in a democratic society, respect, in principle, the idea of opposite opinions from my own.

[Ferd Berfel]

4. DinO's acting like Republicans

It's disgusting.

Hillary's BFF:

[Betty Karlson]

5. And that biased DINO, responsible for massive losses in 2014,

is the DNC chair. Why isn't she being urgently replaced? She is toxic to the Democratic Party in every capacity!

[Duval]

6. Hope we can get rid of some DLCers in Nov. eom

[Ferd Berfel]

9. clinton needs the DWS thumb on the scale to get the Nom

DWS needs to hang in there to get a freebee post in a Clinton Administration

[Betty Karlson]

12. If that is so, they can both kiss my gay ass and sod off to Panama

that kind of corrupt codependency should be punished, not rewarded.

REPEAT MEMO: the 20th century is over.

[Fantastic Anarchist]

17. Of course, they are rewarded.

Anything that is pro-profit-above-all will be rewarded in a capitalist society.

[SHRED]

8. She chose Republicans over Democrats in Florida

[Ferd Berfel]

11. the DLC Blue Dog Third Way crowd

pretty much chooses republican polices over democratic ones and has been since Wild Bill

[Betty Karlson]

14. Debbie is well and truly on her Third Way!

And so are the Clintons.

[Ferd Berfel]

15. Hope the door kicks her in the...........

[NCjack]

7. DWS core value: It's immoral to let a poor person keep his money. (with apologies

to Canada Bill Jones)

[Fantastic Anarchist]

10. Does anyone else know who else is co-sponsoring the bill?

Who else besides Debt-Trap Debbie is sponsoring this legislation? I think that would be interesting.

[Ferd Berfel]

13. LOL !

Debt-Trap Debbie

Perfect !

[Fantastic Anarchist]

18. I wish I could claim the credit.

But it is not mine, though I wish I would have thought of it!

[aggiesal]

24. List of Co-Sponsors of "The Consumer Protection and Choice Act" in congress, ...

and the date they signed on as Co-Sponsors
https://www.congress.gov/bill/114th-congress/house-bill/4018/cosponsors

Republican Co-Sponsors
Rep. Curbelo, Carlos (R-FL-26) 11/16/2015
Rep. Posey, Bill (R-FL-8) 11/16/2015
Rep. Diaz-Balart, Mario (R-FL-25) 12/01/2015
Rep. Blackburn, Marsha (R-TN-7) 12/01/2015
Rep. Tipton, Scott R. (R-CO-3) 12/02/2015
Rep. Jolly, David W. (R-FL-13) 12/02/2015
Rep. Heck, Joseph J. (R-NV-3) 12/09/2015
Rep. Scott, Austin (R-GA-8) 12/10/2015
Rep. Chabot, Steve (R-OH-1) 12/10/2015
Rep. Wenstrup, Brad R. (R-OH-2) 12/10/2015
Rep. Kelly, Trent (R-MS-1) 12/10/2015
Rep. Miller, Jeff (R-FL-1) 12/15/2015
Rep. Rooney, Thomas J. (R-FL-17) 12/15/2015
Rep. Pittenger, Robert (R-NC-9) 12/15/2015
Rep. Love, Mia B. (R-UT-4) 01/12/2016

Democratic Co-Sponsors
Rep. Murphy, Patrick (D-FL-18) 11/16/2015
Rep. Hastings, Alcee L. (D-FL-20) 11/16/2015
Rep. Brown, Corrine (D-FL-5) 11/16/2015
Rep. Wasserman Schultz, Debbie (D-FL-23) 12/02/2015
Rep. Scott, David (D-GA-13) 12/17/2015
Rep. Frankel, Lois (D-FL-22) 01/05/2016
Rep. Sinema, Kyrsten (D-AZ-9) 01/05/2016
Rep. Cuellar, Henry (D-TX-28) 02/23/2016
Rep. Castor, Kathy (D-FL-14) 02/23/2016

[Fantastic Anarchist]

27. Wow, Patrick Murphy being on that list is disappointing.

Wow, just wow.

[djean111]

32. Murphy was GOP until 2012. He has access to lots of money.

Even though he voted yes to the Benghazi probe, Hillary embraces him. He is a Third Wayer through and through.
He is a member of the New Democrat Coalition, which is advised by the Third Way. Their membership list is an eye-opener.

That whole list of Florida Dems backing the bill is disappointing and quite illuminating.

And this is why I think the Democratic Party, as I knew it, is almost gone, taken over by the Third Way. Cutting social services with a smile and a little frown. Mix that up with PNAC-type thinking, and yes, we have a reeking mess. For those who bleat condescendingly that we just need to vote in liberals at lower levels - the DNC will do all it can to crush them. Look how open they are about trying to crush Bernie.

[Fantastic Anarchist]

34. Unfortunately, you are correct.

I thought Murphy was a progressive. I was totally wrong.

Many thanks.

[djean111]

29. I believe the GOP are. Not surprising - DWS openly campaigns for GOP cronies

down here in Florida.

And I am told I MUST vote for Hillary because WOMAN and "D". Nope.

[Fantastic Anarchist]

31. Hypocrisy abounds!! nt

[msanthrope]

19. Warren is in the right here. Nt

[Lazy Daisy]

20. Another crack

in the parties identity. Both the Republicans and Democrats are falling apart. Although we have a lot more class about it.

[PatrickforO]

21. I'm SO happy DWS is getting 'primaried' from the left.

I'll probably donate to her opponent before all is said and done. DWS doesn't deserve the name Democrat, because her actions have long since proven she doesn't give a shit about us, our families or our kitchen table issues. She's squarely in the pockets of the capitalist parasites.

[Omaha Steve]

30. FIRE DWS! Donate to Democratic Underground for Tim Canova FL-23 here

Donate to Democratic Underground for Tim Canova FL-23 here: https://secure.actblue.com/contribute/page/du4timcanova

[d_legendary1]

22. This needs more recs!

DWS is a pariah to the Democratic Party and the people of Florida.

[99th_Monkey]

23. WTF are these people thinking? Is this an example of the Obama legacy that Hillary plans

to expand on and do even more of???

This is so fucked up, it's abhorrently predatory and exploitative of the very poor.

[Scuba]

25. "Debt Trap Debbie" does have a nice ring to it.

[Sunlei]

26. Mrs. Wasserman Schultz could lose her election over protecting 700% interest rate Loan Sharks.

[Hoyt]

28. Has anyone read the Florida law? I'd like to see payday loans banned. Unfortunately, some people

have no choice, at least think they don't. Until that changes, payday loans or going to a real loanshark who will break your fingers if you don't pay, is about the only alternative for some.

In any event, Florida's law seems to go a long way to keeping someone from borrowing more then $500 and life long indebtedness -- and they have to pay that loan off to get another loan. There's even mandatory credit counseling if someone can't pay off the loan.

http://www.flofr.com/StaticPages/PaydayLenders.htm

[Land of Enchantment]

33. Debt Trap Debbie doing the will of the loan shark scumbags.

Another 10 bucks to Tim today, time to clean house.