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Obama pushes payday financing guidelines in Alabama

Obama pushes payday financing guidelines in Alabama

President Obama talks concerning the economy and payday lending Thursday, at Lawson State Community university in Birmingham, Ala. (Picture: Jacquelyn Martin, AP)

WASHINGTON — President Obama pushed for stricter payday lending guidelines Thursday while he defended the government’s customer protection watchdog against Republican efforts to defund the agency.

“the concept is pretty good sense: in the event that you provide out cash, you need to first ensure that the debtor are able to cover it right back,” Obama stated at Lawson State Community College in Birmingham, Ala., on Thursday afternoon, relating to an advance content of their message.