A banking super political action committee has produced a slick new video alleging that “fake credit unions” are diverting much-needed tax money from the nation’s schools and have abandoned their mission to serve the needy.
Now that the Trump Administration has agreed to set aside $10 billion from the Paycheck Protection Program for loans made by Community Development Financial Institutions, Democrats are pushing the administration to do the same for minority institutions.
House Financial Services Chairwoman Maxine Waters (D-Calif.) is firing back at lawmakers who have called for allowing installment and payday lenders to be eligible for Paycheck Protection Loans, contending that such companies engage in predatory lending practices.