Modern politicians have discovered a ripe old target for populist demagoguing: payday loan providers

In a message on Thursday afternoon, President Obama endorsed brand new proposed guidelines through the customer Financial Protection Bureau to split straight down from the lending industry that is payday. These short-term, high-interest loan providers have recently drawn fire from comedians like Sarah Silverman and HBO’s John Oliver. Payday loan providers alllow for a simple punching case. Moneylenders have been a target that is popular and laws against usury are because old as sin. These…

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