Deleted Tweet from Katie Porter, D-Calif.
Deleted Tweet from Katie Porter
@amteve @LucasPattan @RepKatiePorter @danpfeiffer @CFPBDirector The $20 origination fee is included in the definition of Finance Charge, so the interest of $20 plus the fee of $20 makes $40 cost to borrow $200 for 14 days. Answer . . . 520%! Truth in Lemding Law requires APR to include fees, which @cfpb director did not know.
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