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The Official Head Of The Democratic Party Joins GOP Effort To Protect Payday Lenders
Progressive Democrats, by contrast, have lined up behind a very different proposal for ensuring small-dollar credit remains available where banks fear to tread. Sen. Elizabeth Warren (D-MA), presidential hopeful Bernie Sanders (D-VT), and others support the idea of postal banking, in which the U.S. Postal Service would begin offering a variety of basic financial services including microcredit equivalents of payday loans, all at prices that these customers can actually afford.