Attorney General Ellison condemns effort that is federal let predatory loan providers benefit from customers
FDIC rule will allow payday along with other predatory lenders to skirt state usury regulations; AG Ellison joins bipartisan coalition urging withdrawal of guideline they say violates legislation, administrative authority
Minnesota Attorney General Ellison has accompanied a bipartisan coalition of 24 lawyers general in opposing a proposition by the Federal Deposit Insurance Commission (FDIC) to preempt state usury legislation that regulate payday along with other lending that is high-cost therefore which makes it easier for predatory loan providers to make use of customers. More