WASHINGTON вЂ“ U.S. Senators Dick Durbin (D-IL) and Jeff Merkley (D-OR), along with Senators Jack Reed (D-RI), Chris Van Hollen (D-MD), Sherrod Brown (D-OH), and Elizabeth Warren (D-MA), urged the small company management (SBA) and Treasury Department to reject demands from payday loan providers to achieve eligibility for the Paycheck Protection Program (PPP). The senators warned that payday lenders target the most financially vulnerable https://www.personalbadcreditloans.net/reviews/loans-angel-loans-review/ Americans by offering predatory loans that charge exorbitant fees and trap people in an endless cycle of debt from which it is nearly impossible to emerge in a letter to SBA Administrator Jovita Carranza and Treasury Secretary Steven Mnuchin.
вЂњHowever, use of federal relief programs shouldn’t be awarded to people with regularly profited by driving low-income individuals and families deeper into debt. Continue Reading →