the finance institutions and credit rating Subcommittee regarding the House Financial solutions Committee will hold a hearing entitled вЂњShort-term, tiny Dollar Lending: the CFPB’s Assault on usage of Credit and Trampling of State and Tribal Sovereignty.вЂќ
In after taking out payday and other short-term, high-interest loans if you could not tell from the title alone, the hearing is not meant shed any light on the debt trap many borrowers find themselves. Alternatively, the lending that is payday’s allies in Congress are keeping this sham of a hearing to strike the buyer Financial Protection Bureau (CFPB) since it makes brand new guidelines to rein inside worst of those predatory loan providers.
Such as the users of Congress arranging the hearing, those being called to testify are allies for the payday lending industry. They consist of:
Thomas Miller: Scholar at Mercatus Center, a George Mason University Think Tank funded and founded because of the Koch Brothers
Thomas W. Miller Is just A scholar that is visiting with Mercatus Center at George Mason University.
вЂњThomas W. Miller, Jr., is a visiting scholar with the Mercatus Center at George Mason University, whoever scientific study is targeted on foreclosures when it comes to venture for the research of American Capitalism and a task on little buck loans for the Financial Markets performing Group. Dr. Miller is a Professor of Finance in addition to inaugural owner of this Jack R. Lee seat in banking institutions and customer Finance at Mississippi State University, and co-author of вЂњFundamentals of opportunities: Valuation and ManagementвЂќ and вЂњDerivatives: Valuation and danger Management.вЂќ He has held jobs at Saint Louis University, Washington University in St. Louis, the University of Missouri, and has now taught in Italy and France.вЂќ Thomas Miller Bio, Mercatus