Predatory Payday Lenders On Pace To Make Record Amount Of Political Donations #p2 #tcot @dloesch

According to a new analysis by Citizens for Responsibility and Ethics in Washington (CREW), the payday lending industry has been going gangbusters with its spending in Washington over the last few years. In addition to spending nearly $5 million lobbying last year — up from less than $1 million in 2005 — payday lenders are on pace to make more in campaign donations to federal candidates than they ever have before:

CREW's research shows the payday loan industry is on course to donate more than ever to federal candidates this election cycle. Payday lenders' political action committees (PACs), trade associations, and employees have contributed at least $1.32 million so far, according to campaign contributions tracked by Political Moneyline. That is already almost equal to the $1.5 million payday lenders contributed over the course of the entire 2010 election cycle. So how, exactly, are payday lenders expecting to collect interest on this investment?

rest at 

http://thinkprogress.org/economy/2012/04/19/467263/payday-lenders-record-political-donations/