REALITY CHECK: Sen. Ted Cruz’s Protection of Predatory Financial Institutions Billing Texans 492per cent Focus. Repeating Lead Money

REALITY CHECK: Sen. Ted Cruz’s Protection of Predatory Financial Institutions Billing Texans 492per cent Focus. Repeating Lead Money

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  • RHETORIC: Ted Cruz believes people that don’t get access to payday advances might be looking at “‘even tough choices.’”

    Last night, it has been reported that Sen. Ted Cruz (R-TX)defended payday loaning as a necessity during a San Antonio venture end. At the function, showcasing members of “San Antonio’s black color group,” Cruz said of effort to cover payday loan interest rates, “‘You dont wish to clear away debt options for folks in a challenging scenario wherein they need to next choose credit shark.’” They later added, “If we come and ban payday advance loan, it’s not like individuals who happen to be acquiring payday advance loans at this point immediately are not going to have to have money when it comes to book,’” and even stated that “‘If these people dont posses payday advance loans, they’ll come a whole lot worse selection.’” [Jeremy Wallace, “Ted Cruz defends payday credit during San Antonio prevent,” Houston Chronicle,08/07/18]

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