Car title loans: Allow freedom or chaos?

Recently the Republicans, in the Financial Choice Act have put in a provision that would give consumers more choice:  But some people argue that it isn’t about more choice, it’s about trapping people in an endless cycle.

Interestingly enough, the “American Bankers Association. submitted a report to Treasury Secretary Steve Mnuchin last month calling for an end to the CFPB’s proposed payday-lending rules and seeking regulatory changes that would allow banks to issue their own payday loans.”

Source: http://www.chicagotribune.com/business/columnists/ct-lazarus-payday-lenders-20170530-story.html

As usual, follow the money because banks charge insane amounts of “interest” on a bounced check.  Yes, they may be called “fees” but in practicality it is the same thing.