Obama’s FCC Chief Hurting Low Income Consumers
Who is in LeBlanc’s way are a bunch of smaller phone service providers who serve the lower income bracket Americans with cheap long distance phone service to foreign countries, most in Central and South America. These small companies have complained that they are under attack from the federal government and the feds are driving these companies out of business one by one.
This is typical of the Obama Administration. Because these companies charge more than the Obama Administration wants, regulators have gone after them. Same with industries like online loan companies. Because the Obama Administration does not like the rates that these businesses charge, they have used the power of the Consumer Financial Protection Bureau (CFPB) to issue new rules that attack online lenders. That new regulation would hurt middle and low income consumers in need of a quick short term small dollar loan.