Payday lenders won a huge victory under the Trump administration Consumer Financial Protection Bureau (CFPB) this week (2-7-2019) with rolling back regulations that benefit the average consumer. It appears that contributing to the Trump campaign is paying off for the big lenders in big ways. Now its back to business as usual; using 400% interest rates to lock in unsuspecting borrowers on long term loans/debt that is difficult to get from under.

Question: The CFPB is funded by our tax payers dollars, which mean that this agency suppose to be working for all citizens of our nation. Do you think rolling back the regulations is a good idea? Would your answer change if you was a Payday loan merchant? Are companies such as payday lenders (who are merely trying to make a profit) being over-regulated or over burden with cumbersome regulations? Do you see any ethical issues involved here? Are consumers being fairly represented by our appointed officials?

Explain why or why not?