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Progressive groups protest payday loan conference at Trump resort

Trump's pick to lead the Consumer Financial Protection Bureau has favorable to the industry.
Trump golfing in Doral, 2015 (Getty)
Published Apr. 19, 2018

Several progressive groups are protesting today outside Trump National Doral Golf Club, where the payday lending industry is hosting its annual conference.

Speakers from the New Florida Majority, the Latino Victory Project, the Florida Immigrant Coalition and the Miami-Dade Democratic Party are there to object to what they call a "predatory" industry.

They say it's no coincidence that the industry is having its conference at a Trump resort. Since President Donald Trump took office, his pick to lead the Consumer Financial Protection Bureau has taken a hands-off approach to the payday lending industry, choosing to wait before implementing a new CFPB rule that would limit how many loans the industry can give someone each year.

Florida lawmakers this year, citing concerns about the rule, voted to allow the industry to offer loans that are twice as large and with fees that are also potentially twice as large. The CFPB rules don't apply to those larger loans.

Less than a month after Gov. Rick Scott signed off on the bill, the industry sued the CFPB to block the rule from ever taking effect.

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