September 4, 2020
Today, Assemblymember Tom Abinanti (D-Westchester), Chair of the NY Assembly Committee on Banks, joined with Banking Chairs of the NYS Senate and the New Jersey Senate and Assembly to oppose the Trump administration’s proposal to allow predatory lenders to circumvent state usury laws and override the states’ authority to regulate lenders operating within their borders.
“What looks like an obscure tweak to a banking regulation is actually a Trump administration attempt to eviscerate state laws,” said Abinanti. “Everyday people and small businesses are desperate for money to survive. They’re prime targets for deceptively marketed loans.”
“What looks like an obscure tweak to a banking regulation is actually a Trump administration attempt to eviscerate state laws,” said Abinanti. “Everyday people and small businesses are desperate for money to survive. They’re prime targets for deceptively marketed loans.”
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