Payday loans, overdraft fees, and financial protection—everything you thought was regulated just got turned upside down.
In this eye-opening episode, consumer debt experts Steve Rhode and Damon Day expose how Congress quietly revived a dangerous banking loophole, while the Consumer Financial Protection Bureau (CFPB) stripped away critical protections against unauthorized withdrawals from payday lenders, title loans, and high-interest installment loans.
If you've ever struggled with payday loans, overdraft charges, or found yourself trapped in high-interest debt, you can't afford to miss this. Steve and Damon break down exactly how these changes can impact your bank account, why overdraft fees are spiking from $5 to $35 or more, and what practical steps you can take right now to protect your money. Packed with clear financial advice, actionable debt solutions, and the truth banks don’t want you to know—this is the podcast episode your wallet needs.
The two posts referenced in this podcast are:
Congress Just Helped Big Banks Act Like Payday Lenders—Here’s What That Means for You - https://getoutofdebt.org/174351/congress-just-helped-big-banks-act-like-payday-lenders-heres-what-that-means-for-you
The CFPB Just Told Payday Lenders and Title Loan Companies: “Go Ahead—Take the Money and Run” - https://getoutofdebt.org/174207/the-cfpb-just-told-payday-lenders-and-title-loan-companies-go-ahead-take-the-money-and-run
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