Some are being lured into borrowing money from high interest-predatory lenders, also known as payday lenders, who charge interest rates as high as 30% PER MONTH as millions of Americans await their stimulus checks under stay at home orders. In the past few years, underneath the Trump management, the de-regulation of predatory lenders, also known as payday lending stores, has lead to more high interest loans, and much more rip-offs of reduced and middle-income Americans.
Into the battle for Congress into the seventeenth region, (Mid-Northern Westchester & Rockland County) State Senator David CarlucciвЂ™s record on accepting efforts from payday loan providers happens to be called into concern. A record of CarlucciвЂ™s campaign finance reports reveal that he received $2,000 in his run for Congress, and thousands more from Payday and predatory lenders while Westchester county, and the 17th Congressional District, has among the highest rates of COVID in the country.
Adam Schleifer, among the 7 other challengers when you look at the primary that is democratic NY-17, took direct aim at Carlucci regarding the matter. He contrasted their back ground being a consumer that is former regulator under Governor Andrew Cuomo, who forced exactly the same predatory industry to payback ny taxpayers millions, with CarlucciвЂ™s record on accepting their efforts. Some consider him well-positioned to replace Nita Lowey in Congress because Carlucci represents almost all of Rockland County, which makes up 60% of the district. For making the comparison, Schleifer noted, вЂњIвЂ™ve devoted significant efforts to avoid predatory lending,вЂќ to that particular of Carlucci вЂњwe have actually an opponent in this race that is captive to a pernicious industry.вЂќ