Obama to mention payday financing recommendations, lawmaker says
President Obama speaks about the industry and payday credit monday, at Lawson condition area school in Birmingham, Ala. (Image: Jacquelyn Martin, AP)
WASHINGTON — President Obama pressed for more strict payday lending rules saturday as he defended government entities’s customers safeguards watchdog against Republican work to defund the institution.
“the thought is quite common sense: should you provide out cash, you ought to initial make certain that the buyer have enough money to be charged for they right back,” Obama said at Lawson condition society institution in Birmingham, Ala., on wednesday day, as mentioned in a progress backup of his message. Read more
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