PAYDAYPUPPETS. How MoreThanA DozenMembersoftheU.S.House APRIL2018

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1 PAYDAYPUPPETS How MoreThanA DozenMembersoftheU.S.House andsenatewereshoweredwiththousandsofdolars incampaigncashbypaydaylendersw ithindays oftakingofficialactiontobenefittheindustry APRIL2018 FLICKRPHOTOS:HENSARLING,YODER-GAGESKIDMORE.HASTINGS-CLIFF1066.CRAPO-CHIEFMASSCOMMUNICATIONSPECIALISTF.JULIANCARROLL. SHELBY-SENIORMASTERSGT.ADRIANCADIZ.SESSIONS-SCOTTELLISWWW.VSELLIS.COM.

2 EXECUTIVE SUMMARY Billed by its purveyors as a quick cash solution for life s unexpected financial emergencies, payday lenders peddle this modern-day snake oil to 12 million 1 hardworking men and women each year. For too many, a cycle of seemingly inescapable debt follows. They have fallen victim to an industry that has used harassment, intimidation, and threats to keep that cycle spinning for this $46 billion 2 industry. When the Consumer Financial Protection Bureau (CFPB) was created in 2010 as part of the Dodd- Frank Wall Street Reform and Consumer Protection Act, it was charged with overseeing the payday lending industry among other responsibilities. 3 4 Just a few years later, the CFPB released startling research detailing the damaging effects payday lending has on the financial wellbeing of consumers. 5 It found: Only 15% of payday loan borrowers are able to repay their loans on time. The remaining 85% either default or take out a new loan to cover old loan(s). More than 80% of payday loan borrowers rolled over (renewed) their loans into another loan within two weeks. More than one-in-five new payday loans end up costing the borrower more in fees than the total amount actually borrowed. Half of all payday loans are borrowed as part of a sequence of at least ten loans in a row. It is findings like these that propelled the CFPB to carefully consider over a number of years and eventually promulgate a tough new rule designed to protect consumers from payday lending industry-induced debt cycles. These important safeguards are now under attack by payday industrybacked politicians in and CFPB Acting Director Mick Mulvaney who took more than $60,000 in campaign cash from payday lenders 6 before his legally dubious installation by President Trump in November of This debt cycle being addressed by the CFPB is purposeful. It is by design. That s how payday lenders make their money. As Daniel Feehan, then-president and CEO of payday lender Cash America, admitted at a 2007 conference, [t]he theory in the business is [that] you ve got to get that customer in, work to turn him into a repetitive customer, long-term customer, because that s really where the profitability is. 8 In fact, an internal company training manual for payday lending giant ACE Cash Express depicting the cycle of a payday loan dubbed it, The Loan Process Using a circular graphic that resembles an image commonly used for recycling, the manual shows a consumer taking out a loan with ACE, spending all of the money, not having the ability to repay the loan, and then either taking out another loan with ACE or having their account sent to collections and returning to the beginning of the cycle by taking out a new payday loan from ACE to get their account out of collections. For most payday loan borrowers, this isn t about a one-time loan to help cover an unforeseen financial emergency. Research from The Pew Charitable Trusts found most payday loans (nearly 1 "Payday Lending in America: Who Borrows, Where They Borrow, and Why," The Pew Charitable Trusts, 7/19/12 2 Mandi Woodruff, "The $46 billion payday lending industry is in for a big blow," Yahoo! Finance, 2/10/15 3 Nick Bourke, "Meaningful Payday Loan Reform Is Within Reach," The Pew Charitable Trusts, 7/21/15 4 Consumer Financial Protection Bureau, Press Release, 3/25/14 5 CFPB Data Point: Payday Lending, The CFPB Office of Research, 3/14 6 OpenSecrets search for Payday Lenders, Center for Responsive Politics, accessed 12/13/17. 7 English v. Trump, Gupta/Wessler, accessed 3/5/18. 8 Thomas B. Edsall, "Making Money Off the Poor," The New York Times, 9/17/13 9 Consumer Financial Protection Bureau, Press Release, 7/10/14 10 Danielle Douglas, Payday lender Ace Cash Express to pay $10 million over debt-collection practices, The Washington Post, 7/10/14 Payday Puppets Page 1 of 32

3 70%) are used to cover recurring everyday expenses like a utility bill or food, while only 16% of loans are used to cover unexpected expenses. 11 That s exactly what payday lenders are counting on customers who are already having trouble meeting their day-to-day living expenses who then take out a payday loan only to find it nearly impossible to pay off on time without taking out a new payday loan, and thus kicking off or extending the cycle of debt. It is no wonder that Pew also found Americans favor more regulation of the payday lending industry by a margin of 3-to That, along with the impact these financial products have on consumers may explain why the CFPB ultimately finalized its thoughtfully considered, tough new rule to reign in the worst abuses of payday lenders. 13 In addition to the broad support for reform found in Pew s research, a bipartisan poll conducted on behalf of the Center for Responsible Lending found that a mere 10% of Americans had a favorable opinion of payday lenders. 14 In the face of such dismal polling numbers, one wouldn t expect to see so many Members of going to bat for such an unsavory and wildly unpopular industry. But payday lenders have been preparing for this regulatory fight since the CFPB s inception. The industry wields tremendous power not only over those it is able to ensnare with its risky financial products, but also over the levers of power in Washington. According to analysis conducted by Center for Responsive Politics, over the years payday lenders have given nearly $13 million in campaign contributions 15 to incumbent members of and candidates for the U.S. House of Representatives and U.S. Senate the industry has also spent more than $63.5 million lobbying these bodies. 16 What are these payday lenders hoping to accomplish by spending so lavishly to lobby and shower these powerful legislators with so much campaign cash? This report details how more than a dozen members of from both parties received significant campaign contributions from payday lending industry executives and political action committees (PACs) just before or soon after taking official actions that benefited the industry. Taken as a whole, the timing of these contributions raises a serious question of whether they were made as a quid pro quo for official action. It is our hope that the serious questions raised by illuminating the suspicious, even crass timing of industry contributions and official actions taken, will lead to further investigation and discussion of these important issues. 11 "Payday Lending in America: Who Borrows, Where They Borrow, and Why," The Pew Charitable Trusts, 7/19/12 12 CFPB Proposal for Payday and Other Small Loans, The Pew Charitable Trusts, 7/28/15 13 Consumer Financial Protection Bureau, Press Release, 10/5/17 14 Bipartisan Support for Financial Regulation and Enforcement, Lake Research Partners and Chesapeake Beach Consulting, 1/22/15 15 OpenSecrets.org Search for Payday Lenders: Money to, Center for Responsive Politics, accessed 3/12/ OpenSecrets.org Search for Payday Lenders Annual Lobbying, Center for Responsive Politics, accessed 3/12/18. Payday Puppets Page 2 of 32

4 NOTEWORTHY FINDINGS This report includes numerous other examples of suspiciously timed campaign contributions. Sen. Richard Shelby (R-AL): Accepted at least $46,250 from the payday lending industry in the days before and after taking official actions to help the industry. Sen. Mike Crapo (R-ID): Two days after taking $1,000 from a payday lending industry PAC, Crapo voted against an amendment "that would create a deficit-neutral reserve fund" to "ensure the Consumer Financial Protection Bureau has the authority and autonomy to protect consumers from predatory lending." Sen. Pat Toomey (R-PA): Two days after joining Crapo in voting against the aforementioned amendment, Toomey took $10,000 from the payday lending industry followed by another $3,000 in the five days following his vote. Sen. Tim Scott (R-SC): Just days after voting against an amendment that would "ban individuals convicted of fraud related to financial transactions, including predatory lending to veterans, from generally advertising or soliciting non-publicly traded securities," Scott took $2,000 from a payday lending industry. Rep. Alcee Hastings (D-FL): Hastings routinely takes actions to benefit the payday industry within days of taking their campaign cash. Case in point, in the days after authoring an op-ed defending the payday lending industry in the conservative Washington Examiner, he received $20,000 in campaign contributions from the industry. Rep. Jeb Hensarling (R-TX): The powerful chair of the House Financial Services Committee voted to cap funding for the CFPB and require it to consult with bubreau-regulated industries before implementing new rules. The next day, Hensarling received $5,200 in campaign contributions from the payday lending industry. Rep. Will Hurd (R-TX): Days after co-sponsoring legislation to repeal the law that created the CFPB, which regulates payday lenders, Hurd received $2,700 in campaign contributions from the payday lending industry. Rep. Blaine Luetkemeyer (R-MO): One of the payday lending industry s favorite members of, Rep. Luetkemeyer often takes actions to benefit the industry within days of taking its campaign cash. For example, he received $5,000 in campaign contributions from the payday lending industry before voting to cripple the CFPB ability to hold industries like payday lenders accountable. Rep. Patrick McHenry (R-NC): The week after sending the CFPB a letter expressing concern over the bureau s work to rein in the worst abuses of the payday industry, Rep. McHenry received a $2,000 campaign contribution from a payday lending industry PAC. Rep. Gregory Meeks (D-NY): After co-sponsoring a bill that would allow payday lenders to charge annual interest rates up to 391 percent, Rep. Meeks received $2,500 in campaign contributions from the payday lending industry. Rep. Steve Pearce (R-NM): Four days after sending a letter to the Attorney General and FDIC protesting Operation Choke Point, a Department of Justice effort opposed by payday lenders that targeted unscrupulous lending practices, Rep. Pearce received $2,000 in campaign contributions from the payday lending industry. Payday Puppets Page 3 of 32

5 Rep. Bruce Poliquin (R-ME): Within days of voting to cap funding for the CFPB which regulates payday lenders and requiring the bureau to consult with bureau-regulated industry before implementing new rules, Rep. Poliquin received $3,500 in campaign contributions from the payday lending industry. Rep. Ed Royce (R-CA): Three days after voting to weaken the CFPB by subjecting its funding to additional bureaucratic red tape, Rep. Royce received $3,000 in campaign contributions from the payday lending industry. Rep. Pete Sessions (R-TX): Three days before voting for legislation designed to undercut Operation Choke Point, a Department of Justice effort opposed by payday lenders that targeted unscrupulous lending practices, Rep. Sessions received $3,500 in campaign contributions from the payday lending industry. Rep. Steve Stivers (R-OH): The day after sending a letter to the CFPB expressing concern over the bureau s work to rein in the worst abuses of the payday industry, Rep. Stivers received $2,000 in campaign contributions from the payday lending industry. Rep. Kevin Yoder (R-KS): No member of has taken more money from the payday lending industry than Rep. Yoder. The investment has paid off time and again. After voting to cripple the CFPB ability to hold industries like payday lenders accountable by changing its structure, Yoder received $5,000 in campaign contribution from the payday lending industry. Former Rep. and CFPB "Acting Director" Mick Mulvaney: A dishonorable mention, three days before sending a letter to the CFPB expressing concern over the bureau s work to rein in the worst abuses of the payday industry, then-rep. Mulvaney received $9,000 in campaign contributions from the payday lending industry. In the days prior to and following the letter, Mulvaney received a total of at least $18,800 in campaign contributions from payday lenders. Payday Puppets Page 4 of 32

6 Sen. Richard Shelby (R-AL) EXAMPLE 1. Sen. Shelby received over $50,000 in campaign contributions from the payday lending industry surrounding a vote against an amendment that sought to ensure the Consumer Financial Protection Bureau (CFPB) had the authority and autonomy to protect consumers from predatory lending. On March 26, 2015, Sen. Richard Shelby (R-AL) voted against an amendment "that would create a deficit-neutral reserve fund" to "ensure the CFPB has the authority and autonomy to protect consumers from predatory lending" and other abusive "practices in the financial marketplace." 17 Earlier that month, he received $46,250 in campaign contributions from the payday lending industry; a week and a half after the vote, he received an additional $5, Shelby for U.S. Senate ACE Cash Express $5,000 3/2/15 Shelby for U.S. Senate Checksmart Financial $5,000 3/2/15 LLC PAC Shelby for U.S. Senate Wolfberg, Robert (PLS $2,700 3/2/15 Financial) Shelby for U.S. Senate Bassford, Dennis J. $2,500 3/2/15 (Moneytree Inc.) Shelby for U.S. Senate Bassford, Dennis J. $2,500 3/2/15 (Moneytree Inc.) Shelby for U.S. Senate Hodges, Michael L. $2,500 3/2/15 (AMSCOT Financial) Shelby for U.S. Senate Hodges, Michael L. $2,500 3/2/15 (AMSCOT Financial) Shelby for U.S. Senate Hodges, Tina K. $2,500 3/2/15 (Advance America) Shelby for U.S. Senate Hodges, Tina K. $2,500 3/2/15 (Advance America) Shelby for U.S. Senate Jones, John Bailey $2,500 3/2/15 (Checks Into Cash) Shelby for U.S. Senate MacKechnie, Ian $2,500 3/2/15 (AMSCOT Financial) Shelby for U.S. Senate MacKechnie, Jean $2,500 3/2/15 (AMSCOT Financial) Shelby for U.S. Senate Pendergrass, Courtney $2,500 3/2/15 E. (Check Into Cash) Shelby for U.S. Senate Rawle, Todd $2,500 3/2/15 (Community Choice Financial) Shelby for U.S. Senate Rawle, Tracy (Check $2,500 3/2/15 City) Shelby for U.S. Senate Pls Good Neighbor PAC $2,500 3/2/15 Shelby for U.S. Senate Wolfberg, Robert (PLS $1,050 3/2/15 Financial) TOTAL $46, CQ Vote Report, S Con Res 11, ional Quarterly, 03/26/15; S.Amdt.842 to S.Con.Res.11, Senate Vote 117, 03/26/15 18 Follow the Money search for Payday Lender contributions to Richard Shelby, National Institute on Money in State Politics, accessed 12/05/17 Payday Puppets Page 5 of 32

7 Shelby for U.S. Senate Community Financial $5,000 4/07/15 Services Association of America PAC TOTAL $5,000 EXAMPLE 2. Sen. Shelby received nearly $6,000 in campaign contributions from the payday lending industry in the days following a vote on an amendment he authored that included dangerous carve outs for payday lenders from strong consumer protection oversight. In May 2010, Sen. Shelby introduced an amendment that President Obama said "''would weaken consumer protection oversight'" and include "'dangerous carve outs for payday lenders' and other financial services operations.'" 19 In the two weeks following the vote on his amendment, he received $5,800 in campaign contributions from the payday lending industry. 20 Shelby for U.S. Senate Integrity Texas $2,400 5/20/10 Funding, LP Shelby for U.S. Senate Integrity Texas $2,400 5/20/10 Funding, LP Shelby for U.S. Senate Aycox, Rod (Select $1,000 5/10/10 Management Resources) TOTAL $5, "Senate Democrats Block GOP Effort To Weaken Consumer Lending Protection," The Frontrunner, 05/07/10 20 Follow the Money search for Payday Lender contributions to Richard Shelby, National Institute on Money in State Politics, accessed 12/05/17 Payday Puppets Page 6 of 32

8 Sen. Mike Crapo (R-ID) EXAMPLE 1. Sen. Crapo received $1,000 in campaign contributions from the payday lending industry two days before voting against an amendment that sought to ensure the Consumer Financial Protection Bureau (CFPB) had the authority and autonomy to protect consumers from predatory lending. On March 26, 2015, Sen. Mike Crapo (R-ID) voted against an amendment "that would create a deficitneutral reserve fund" to "ensure the CFPB has the authority and autonomy to protect consumers from predatory lending" and other abusive "practices in the financial marketplace." 21 Two days earlier, he received a $1,000 donation from the payday lending industry. 22 Mike Crapo for U.S. Financial Services PAC $1,000 3/24/15 Senate TOTAL $1, CQ Vote Report, S Con Res 11, ional Quarterly, 03/26/15; S.Amdt.842 to S.Con.Res.11, Senate Vote 117, 03/26/15 22 Follow the Money search for Payday Lender contributions to Mike Crapo, National Institute on Money in State Politics, accessed 12/05/17 Payday Puppets Page 7 of 32

9 Sen. Pat Toomey (R-PA) EXAMPLE 1. Sen. Toomey received $10,000 in campaign contributions from the payday lending industry two days before voting against an amendment that sought to ensure the Consumer Financial Protection Bureau (CFPB) had the authority and autonomy to protect consumers from predatory lending. In the week following the vote, Toomey received an additional $3,000 from payday lenders. On March 26, 2015, Sen. Pat Toomey (R-PA) voted against an amendment "that would create a deficit-neutral reserve fund" to "ensure the Consumer Financial Protection Bureau has the authority and autonomy to protect consumers from predatory lending" and other abusive "practices in the financial marketplace." 23 Two days before the vote, he received $10,000 in campaign contributions from the payday lending industry. In the week following the vote, he received an additional $3, Pat Toomey Campaign Webster, William $800 3/31/15 Committee (Advance America) Pat Toomey Campaign Webster, William $200 3/31/15 Committee (Advance America) Pat Toomey Campaign Clark, Agartha $1,000 3/30/15 Committee (Moneytree Inc.) Pat Toomey Campaign Hodges, Michael $1,000 3/30/15 Committee (Advance Financial) Pat Toomey Campaign MacKechnie, Ian $2,500 3/24/15 Committee (AMSCOT Financial) Pat Toomey Campaign Ace Cash Express, Inc. $2,500 3/24/15 Committee PAC Pat Toomey Campaign Checksmart Financial $2,500 3/24/15 Committee LLC PAC Pat Toomey Campaign Pls Good Neighbor PAC $2,500 3/24/15 Committee TOTAL $13, CQ Vote Report, S Con Res 11, ional Quarterly, 03/26/15; S.Amdt.842 to S.Con.Res.11, Senate Vote 117, 03/26/15 24 Follow the Money search for Payday Lender contributions to Pat Toomey, National Institute on Money in State Politics, accessed 12/05/17 Payday Puppets Page 8 of 32

10 Sen. Tim Scott (R-SC) EXAMPLE 1. Sen. Scott received $2,000 in campaign contributions from the payday lending industry just eleven days after voting against an amendment that sought "to ban individuals convicted of fraud related to financial transactions, including predatory lending to veterans, from generally advertising or soliciting non-publicly traded securities." On November 3, 2011, then Rep. Tim Scott (R-SC) voted against amending the "Access to Capital for Job Creators Act" "to ban individuals convicted of fraud related to financial transactions, including predatory lending to veterans, from generally advertising or soliciting non-publicly traded securities." Eleven days later, he received $2,000 in campaign contributions from the payday lending industry. 27 Tim Scott Campaign Advance America $1,000 11/14/11 Committee Tim Scott Campaign Advance America $1,000 11/14/11 Committee TOTAL $2,000 EXAMPLE 2. Sen. Scott received hundreds of dollars in campaign contributions from the payday lending industry just nine days before voting against an amendment that sought to ensure the Consumer Financial Protection Bureau (CFPB) had the authority and autonomy to protect consumers from predatory lending. On March 26, 2015, Sen. Scott voted against an amendment "that would create a deficit-neutral reserve fund" to "ensure the Consumer Financial Protection Bureau has the authority and autonomy to protect consumers from predatory lending" and other abusive "practices in the financial marketplace." 28 Nine days before the vote, he received $500 in campaign contributions from the payday lending industry. 29 Tim Scott Campaign Advance America $500 3/17/15 Committee TOTAL $ "House Passes Bi-Partisan Small Business Bills," US Fed News, 11/04/11 26 "November 2011 Vote History," U.S. Representative Phil Roe, M.D., accessed 09/26/17 and HR 2940, House of Representatives Vote 827, 11/03/11 27 Follow the Money search for Payday Lending contributions to Tim Scott, National Institute on Money in State Politics, accessed 12/05/17 28 CQ Vote Report, S Con Res 11, ional Quarterly, 03/26/15; S.Amdt.842 to S.Con.Res.11, Senate Vote 117, 03/26/15 29 Follow the Money search for Payday Lending contributions to Tim Scott, National Institute on Money in State Politics, accessed 12/05/17 Payday Puppets Page 9 of 32

11 Rep. Alcee Hastings (D-FL) EXAMPLE 1. Rep. Hastings received $8,000 in campaign contributions from the payday lending industry in the days before and after sending the Consumer Financial Protection Bureau (CFPB) a letter expressing concern over the bureau s work to rein in the worst abuses of the payday industry. In September 2016, Rep. Alcee Hastings (D-FL) sent a letter to the CFPB "expressing concern about the agency's proposal to rein in payday lending and other short-term credit." 30 Two weeks earlier, he received $5, in campaign contributions from the payday lending industry. He received an additional $3, in the month following his letter. Hastings for MacKechnie Sr., Ian $2,500 09/14/16 (AMSCOT Financial) Hastings for MacKechnie, Jean $2,500 09/14/16 (AMSCOT Financial) Hastings for Community Financial $3,000 10/13/16 Services Association of America PAC TOTAL $8,000 EXAMPLE 2. Rep. Hastings received $20,000 in campaign contributions from the payday lending industry in the days after he authored an op-ed published in the conservative Washington Examiner defending the payday lending industry. On September 28, 2015, Rep. Hastings wrote an op-ed praising payday loans in the conservative Washington Examiner. 33 Three weeks after authoring the op-ed, he received $20,000 in campaign contributions from the payday lending industry. 34 Hastings for MacKechnie, Tracy $1,500 10/19/15 (AMSCOT Financial) Hastings for Bassford, Dennis J. $1,500 10/19/15 (Identified by Follow the Money) Hastings for MacKechnie, Catriona $1,000 10/19/15 Jean (AMSCOT Financial) Hastings for Checksmart Financial $5,000 10/19/15 LLC PAC Hastings for Checksmart Financial $5,000 10/19/15 30 Ian McKendry, "Bipartisan Group of Lawmakers Urges CFPB to Ease Up on Payday Rule," American Banker, 09/30/16 31 Follow The Money search for Payday/Title Loans to Alcee Hastings, Follow The Money, accessed 12/06/17 32 Follow The Money search for Payday/Title Loans to Alcee Hastings, Follow The Money, accessed 12/06/17 33 Alcee Hastings, "Why payday loans are in consumers' best interests," Washington Examiner, 09/28/15 34 Follow The Money search for Payday/Title Loans to Alcee Hastings, Follow The Money, accessed 12/01/17 Payday Puppets Page 10 of 32

12 LLC PAC Hastings for Ace Cash Express $5,000 10/19/15 Hastings for Pls Financial Services $1,000 10/19/15 PAC TOTAL $20,000 Payday Puppets Page 11 of 32

13 Rep. Jeb Hensarling (R-TX) EXAMPLE 1. Rep. Hensarling received $5,200 in campaign contributions from the payday lending industry the day after voting to cap funding for the Consumer Financial Protection Bureau (CFPB) which regulates payday lenders and requiring the bureau to consult with industry before implementing new rules. On February 4, 2015, Rep. Jeb Hensarling (R-TX) voted to cap funding for the CFPB and require it "to consult with private-sector employers before implementing new rules." 35 The next day, he received $5,200 in campaign contributions from the payday lending industry. 36 Friends of Jeb Ahlberg, Trevor L. $2,700 02/05/15 Hensarling (Cottonwood Friends of Jeb Hensarling Financial) Ahlberg, Trevor L. (Cottonwood Financial) TOTAL $5,200 $2,500 02/05/15 EXAMPLE 2. Rep. Hensarling received $5,000 in campaign contributions from the payday lending industry in the days before voting to weaken the Consumer Financial Protection Bureau (CFPB) by subjecting its funding to additional bureaucratic red tape. On July 15, 2014, three weeks after receiving $5,000 in campaign contributions from the payday lending industry, 37 Rep. Hensarling voted to subject CFPB funding to bureaucratic red tape. 38 Friends of Jeb Cash America $5,000 06/26/14 Hensarling International Inc. PAC TOTAL $5,000 EXAMPLE 3. Rep. Hensarling received $5,000 in campaign contributions from the payday lending industry just days before voting to cripple the Consumer Financial Protection Bureau (CFPB) by changing its structure and allowing to meddle with its funding. 35 Joseph Lawler, "House passes bill targeting CFPB, regulations," Washington Examiner, 02/04/15 and Pete Schroeder, "House bill would cap CFPB budget," The Hill, 02/04/15 and HR 50, House of Representatives Vote 64, 02/04/15 36 Follow The Money search for Payday/Title Loans to Jeb Hensarling, Follow The Money, accessed 12/01/17 37 Follow The Money search for Payday/Title Loans to Jeb Hensarling, Follow The Money, accessed 12/01/17 38 Cristina Marcos, "House rebuffs bid to limit congressional review of CFPB," The Hill, 07/15/14 and HR 5016, House of Representatives Vote 411, 07/15/14 Payday Puppets Page 12 of 32

14 On February 27, 2014, Rep. Hensarling voted to weaken the CFPB by subjecting it to the ional appropriation process, "replace the CFPB's single director with a five-member board," and "make it easier for a council of federal regulators to overrule the CFPB's decisions." 39 Experts have said such a move would hobble the CFPB and "slide [the bureau] into gridlock and inaction." 40 The week before, he received $5,000 in campaign contributions from the payday lending industry. 41 Friends of Jeb Ace Cash Express Inc. $5,000 02/18/14 Hensarling PAC TOTAL $5, Alan Zibel, "House Passes Bill Limiting Consumer Regulator," The Wall Street Journal, 02/27/14 and HR 3193, House of Representatives Vote 85, 02/27/14 40 AFL CIO et. al Letter to Representative, 5/03/11 41 Follow The Money search for Payday/Title Loans to Jeb Hensarling, Follow The Money, accessed 12/01/17 Payday Puppets Page 13 of 32

15 Rep. Will Hurd (R-TX) EXAMPLE 1. Rep. Hurd received $2,700 in campaign contributions from the payday lending industry just two weeks after co-sponsoring legislation to repeal the law that created the Consumer Financial Protection Bureau (CFPB) which regulates payday lenders. On July 20, 2015, Rep. Will Hurd (R-TX) co-sponsored a bill to repeal "the Consumer Financial Protection Act of 2010, which established the Consumer Financial Protection Bureau." 42 Two weeks later, he received $2,700 in campaign contributions from the payday lending industry. 43 Hurd for Ahlberg, Trevor L. $2,700 08/05/15 (Cottonwood Financial) TOTAL $2, HR 3118, House of Representatives, 07/20/15 43 Follow The Money search for Payday/Title Loans to Will Hurd, Follow The Money, accessed 12/01/17 Payday Puppets Page 14 of 32

16 Rep. Blaine Luetkemeyer (R-MO) EXAMPLE 1. Rep. Luetkemeyer received thousands of dollars in campaign contributions from the payday lending industry in the days before and the day after sending the Consumer Financial Protection Bureau (CFPB) a letter expressing concern over the bureau s work to rein in the worst abuses of the payday industry. In September 2016, Rep. Blaine Luetkemeyer (R-MO) sent a letter to the CFPB "expressing concern about the agency's proposal to rein in payday lending and other short-term credit." 44 Ten days before sending the letter, he received $5,000 in campaign contributions from the payday lending industry the day after sending the letter, he received another $2, Blaine Luetkemeyer Community Financial $2,500 09/30/16 Campaign Committee Services Association of America PAC Blaine Luetkemeyer Cash America $2,500 09/19/16 Campaign Committee International Inc. PAC Blaine Luetkemeyer World Acceptance $2,500 09/19/16 Campaign Committee Corporation PAC TOTAL $7,500 EXAMPLE 2. Rep. Luetkemeyer received hundreds of dollars in campaign contributions from the payday lending industry the week after voting against an amendment that would have protected the Consumer Financial Protection Bureau s (CFPB) ability to hold payday lenders accountable. On July 6, 2016, Rep. Luetkemeyer voted against removing a provision from the 2017 Financial Services and General Government Appropriations Act that prohibited "funds from being used by the Consumer Financial Protection Bureau to enforce regulations or rules with respect to payday loans, vehicle title loans or other similar loans." A week later, he received $500 in campaign contributions from the payday lending industry. 48 Blaine Luetkemeyer Financial Service $500 07/13/16 Campaign Committee Centers of America Inc. PAC TOTAL $ Ian McKendry, "Bipartisan Group of Lawmakers Urges CFPB to Ease Up on Payday Rule," American Banker, 09/30/16 45 Follow The Money search for Payday/Title Loans to Blaine Luetkemeyer, Follow The Money, accessed 12/06/17 46 H.R.5485, Library of, accessed 09/26/17 47 "July 2016 Vote History," U.S. Representative Phil Roe, M.D., accessed 09/26/17 and HR 5485, House of Representatives Vote 369, 07/06/16 48 Follow The Money search for Payday/Title Loans to Blaine Luetkemeyer, Follow The Money, accessed 12/01/17 Payday Puppets Page 15 of 32

17 EXAMPLE 3. Rep. Luetkemeyer received $1,000 in campaign contributions from the payday lending industry four days after voting to weaken the Consumer Financial Protection Bureau (CFPB) by subjecting its funding to additional bureaucratic red tape. On July 15, 2014, Rep. Luetkemeyer voted to subject the funding for the CFPB to additional bureaucratic red tape. 49 Four days later, he received $1,000 in campaign contributions from the payday lending industry. 50 Blaine Luetkemeyer Axcess Financial $1,000 07/19/14 Campaign Committee Services Inc. PAC TOTAL $1,000 EXAMPLE 4. Rep. Luetkemeyer received $1,500 in campaign contributions from the payday lending industry two weeks after introducing a bill that would have reversed actions taken by to protect consumers from payday lenders. On April 15, 2013, Rep. Luetkemeyer introduced legislation that "would negate actions and federal officials had established for safeguarding consumers from payday lenders." Two weeks later, he received $1,500 in campaign contributions from the payday lending industry. 53 Blaine Luetkemeyer Dasher, Alan $1,500 04/30/13 Campaign Committee (Cashback Payday Loans) TOTAL $1,500 EXAMPLE 5. Rep. Luetkemeyer received $5,000 in campaign contributions from the payday lending industry before voting to cripple the Consumer Financial Protection Bureau s (CFPB) ability to hold industries like payday lenders accountable by changing the bureau s structure and making it more easily overruled. In July 2011, three weeks after receiving $5,000 in campaign contributions from the payday lending industry, 54 Rep. Luetkemeyer voted to replace the CFPB s director with "a five-member oversight panel" and "make it easier to overturn regulations imposed by the bureau," moves that would cripple 49 Cristina Marcos, "House rebuffs bid to limit congressional review of CFPB," The Hill, 07/15/14 and HR 5016, House of Representatives Vote 411, 07/15/14 50 Follow The Money search for Payday/Title Loans to Blaine Luetkemeyer, Follow The Money, accessed 12/01/17 51 HR 1566, House of Representatives, 04/15/13 52 Justin Wingerter, "Ethics complaint against Rep. Kevin Yoder alleges pay-for-play with payday loan industry," Topeka Capital-Journal, 10/09/15 53 Follow The Money search for Payday/Title Loans to Blaine Luetkemeyer, Follow The Money, accessed 12/01/17 54 Follow The Money search for Payday/Title Loans to Blaine Luetkemeyer, Follow The Money, accessed 12/01/17 Payday Puppets Page 16 of 32

18 its ability to hold industries like payday lenders accountable. 55 Experts have said such a move would hobble the CFPB and "slide [the bureau] into gridlock and inaction." 56 Blaine Luetkemeyer Community Financial $5,000 06/27/11 Campaign Committee Services Association of America PAC TOTAL $5, Seung Min Kim, "House bill revamps consumer agency," Politico, 07/21/11 and HR 1315, House of Representatives Vote 621, 07/21/11 56 AFL CIO et. al Letter to Representative, 5/03/11 Payday Puppets Page 17 of 32

19 Rep. Patrick McHenry (R-NC) EXAMPLE 1. Rep. McHenry received $2,000 in campaign contributions from the payday lending industry the week after sending the Consumer Financial Protection Bureau (CFPB) a letter expressing concern over the bureau s work to rein in the worst abuses of the payday industry. In September 2016, Rep. Patrick McHenry (R-NC) sent a letter to the CFPB "expressing concern about the agency's proposal to rein in payday lending and other short-term credit. 57 A week later, he received $2,000 in campaign contributions from the payday lending industry. 58 McHenry for Community Financial $2,000 10/06/16 Services Association of America PAC TOTAL $2, Ian McKendry, "Bipartisan Group of Lawmakers Urges CFPB to Ease Up on Payday Rule," American Banker, 09/30/16 58 Follow The Money search for Payday/Title Loans to Patrick McHenry, Follow The Money, accessed 12/06/17 Payday Puppets Page 18 of 32

20 Rep. Gregory Meeks (D-NY) EXAMPLE 1. Rep. Meeks received $2,500 in campaign contributions from the payday lending industry after co-sponsoring a bill that would allow payday lenders to charge annual interest rates up to 391 percent. On February 26, 2009, Rep. Gregory Meeks co-sponsored a bill that would allow payday lenders to charge annual percentage rates up to 391 percent. Meeks argued that the bill would "provide 'options' for people who, in earlier times, 'would come back without a limb' if they failed to repay loan sharks on the street." 59 Three weeks later, he received $2,500 in campaign contributions from the payday lending industry. 60 Gregory Meeks Ace Cash Express Inc. $2,500 03/19/09 Campaign Committee PAC TOTAL $2, HR 1214, House of Representatives, 02/26/09 and Editorial, "391 Percent Payday Loan," New York Times, 04/12/09 60 Follow The Money search for Payday/Title Loans to Gregory Meeks, Follow The Money, accessed 12/01/17 Payday Puppets Page 19 of 32

21 Rep. Steve Pearce (R-NM) EXAMPLE 1. Rep. Pearce received a $3,500 in campaign contributions from the payday lending industry just before sending a letter to the Inspector General of the Department of Justice (DOJ) asking for an investigation into Operation Choke Point, a DOJ effort opposed by payday lenders that targeted unscrupulous lending practices. On October 16, 2014, Rep. Steve Pearce (R-NM) wrote a letter to the Inspector General of the Department of Justice requesting an "investigation into the Department of Justice (DOJ) program known as Operation Choke Point and the DOJ officials and staff involved in its creation and execution." 61 The operation aimed to "prevent unscrupulous Internet-based companies some payday lenders, for instance from gaining access to the banking system through intermediaries known as third-party payment processors." 62 Three weeks before sending the letter, he received $3,500 in campaign contributions from the payday lending industry. 63 Stevan E. Pearce Ace Cash Express Inc. $2,500 09/30/14 Campaign Committee PAC Stevan E. Pearce Cash America $1,000 09/24/14 Campaign Committee International Inc. PAC TOTAL $3,500 EXAMPLE 2. Rep. Pearce received $2,000 in campaign contributions from the payday lending industry four days after sending a letter to the Attorney General and FDIC protesting Operation Choke Point, a DOJ effort opposed by payday lenders that targeted unscrupulous lending practices. On August 22, 2013, Rep. Pearce signed a letter to Attorney General Eric Holder and Federal Deposit Insurance Commission (FDIC) Chairman Martin Ginsburg protesting Operation Choke Point, an effort to "prevent unscrupulous Internet-based companies, including payday lenders, from gaining access to the banking system through intermediaries known as third-party payment processors." 64 Four days later, he received $2,000 in campaign contributions from the payday lending industry. 65 Stevan E. Pearce Taylor, Donna (Check $2,000 08/26/13 Campaign Committee Into Cash) TOTAL $2, Blaine Luetkemeyer et. al. to Michael Horowitz et. al., 10/16/14 62 The Editorial Board, "'Operation Choke Point' Hits the Mark," The New York Times, 10/10/14 63 Follow The Money search for Payday/Title Loans to Steve Pearce, Follow The Money, accessed 12/04/17 64 Blaine Luetkemeyer et. al. to Eric Holder et. al., 08/22/13 and Community Financial Services Association of America et. al. v. Federal Deposit Insurance Corporation et. al., Case 1:14-cv and The Editorial Board, "'Operation Choke Point' Hits the Mark," The New York Times, 10/10/14 65 Follow The Money search for Payday/Title Loans to Steve Pearce, Follow The Money, accessed 12/04/17 Payday Puppets Page 20 of 32

22 Rep. Bruce Poliquin (R-ME) EXAMPLE 1. Rep. Poliquin received $3,500 in campaign contributions from the payday lending industry the day before voting to cap funding for the Consumer Financial Protection Bureau (CFPB), which regulates payday lenders, and requiring the bureau to consult with industry before implementing new rules. On February 4, 2015, Rep. Bruce Poliquin (R-ME) voted to cap funding for the CFPB and require it "to consult with private-sector employers before implementing new rules." 66 In the weeks before and after voting for the bill, he received $3,500 in campaign contributions from the payday lending industry. 67 Poliquin for Jones, John Bailey $500 01/29/15 (Check Into Cash) Poliquin for Advance America Cash $1,000 02/05/15 Advance Centers Inc. PAC Poliquin for Community Financial $1,000 02/10/15 Services Association of America PAC Poliquin for Axcess Financial $1,000 02/10/15 Services Inc. PAC INC. PAC TOTAL $3, Joseph Lawler, "House passes bill targeting CFPB, regulations," Washington Examiner, 02/04/15 and Pete Schroeder, "House bill would cap CFPB budget," The Hill, 02/04/15 and HR 50, House of Representatives Vote 64, 02/04/15 67 Follow The Money search for Payday/Title Loans to Bruce Poliquin, Follow The Money, accessed 12/01/17 Payday Puppets Page 21 of 32

23 Rep. Ed Royce (R-CA) EXAMPLE 1. Rep. Royce received $1,500 in campaign contributions from the payday lending industry days after voting for legislation designed to undercut Operation Choke Point, a Department of Justice effort opposed by payday lenders that targeted unscrupulous lending practices. On February 4, 2016, Rep. Ed Royce (R-CA) voted for a bill that was written to "effectively stall 'Operation Choke Point,' 68 which aimed to "prevent unscrupulous Internet-based companies some payday lenders, for instance from gaining access to the banking system through intermediaries known as third-party payment processors." 69 Two weeks later, he received $1,500 in campaign contributions from the payday lending industry. 70 Royce Campaign Financial Service $1,500 02/18/16 Committee Centers of America Inc. PAC TOTAL $1,500 EXAMPLE 2. Rep. Royce received $5,000 in campaign contributions from the payday lending industry days after voting to cap funding for the Consumer Financial Protection Bureau (CFPB), which regulates payday lenders, and requiring the bureau to consult with industry before implementing new rules. On February 4, 2015, Rep. Royce voted to cap funding for the CFPB and require it "to consult with private-sector employers before implementing new rules." 71 Two weeks later, he received $5,000 in campaign contributions from the payday lending industry. 72 Royce Campaign Cash America $5,000 02/20/15 Committee International Inc. PAC TOTAL $1,500 EXAMPLE 3. Rep. Royce received $3,000 in campaign contributions from the payday lending industry three days after voting to weaken the Consumer Financial Protection Bureau (CFPB) by subjecting its funding to additional bureaucratic red tape. 68 Victoria Finkle, "Luetkemeyer Tries Again on Anti-Choke Point Bill," American Banker, 02/06/15; Cristina Marcos, "House passes bill to halt 'Operation Choke Point'," The Hill, 02/04/16; and HR 766, House of Representatives Vote 63, 02/04/16 69 The Editorial Board, "'Operation Choke Point' Hits the Mark," The New York Times, 10/10/14 70 Follow The Money search for Payday/Title Loans to Ed Royce, Follow The Money, accessed 12/01/17 71 Joseph Lawler, "House passes bill targeting CFPB, regulations," Washington Examiner, 02/04/15 and Pete Schroeder, "House bill would cap CFPB budget," The Hill, 02/04/15 and HR 50, House of Representatives Vote 64, 02/04/15 72 Follow The Money search for Payday/Title Loans to Ed Royce, Follow The Money, accessed 12/01/17 Payday Puppets Page 22 of 32

24 On July 15, 2014, Rep. Royce voted to subject the funding for the CFPB to additional bureaucratic red tape. 73 Three days later, he received $3,000 in campaign contributions from the payday lending industry. 74 Royce Campaign Axcess Financial $3,000 07/18/14 Committee Services Inc. PAC TOTAL $3,000 EXAMPLE 4. Rep. Royce received $1,000 in campaign contributions from the payday lending industry after voting to cripple the Consumer Financial Protection Bureau s (CFPB) ability to hold industries like payday lenders accountable by changing the bureau s structure and making it more easily overruled. On July 21, 2011, Rep. Royce voted to replace the CFPB s director with "a five-member oversight panel" and "make it easier to overturn regulations imposed by the bureau," moves that would cripple its ability to hold industries like payday lenders accountable. 75 Experts have said such a move would hobble the CFPB and "slide [the bureau] into gridlock and inaction." 76 Two weeks later, he received $1,000 in campaign contributions from the payday lending industry. 77 Royce Campaign Tillmon, Cassandra (VC $1,000 08/03/11 Committee Funding) TOTAL $1, Cristina Marcos, "House rebuffs bid to limit congressional review of CFPB," The Hill, 07/15/14 and HR 5016, House of Representatives Vote 411, 07/15/14 74 Follow The Money search for Payday/Title Loans to Ed Royce, Follow The Money, accessed 12/01/17 75 Seung Min Kim, "House bill revamps consumer agency," Politico, 07/21/11 and HR 1315, House of Representatives Vote 621, 07/21/11 76 AFL CIO et. al Letter to Representative, 5/03/11 77 Follow The Money search for Payday/Title Loans to Ed Royce, Follow The Money, accessed 12/01/17 Payday Puppets Page 23 of 32

25 Rep. Pete Sessions (R-TX) EXAMPLE 1. Rep. Sessions received $3,500 in campaign contributions from the payday lending industry days after voting for legislation designed to undercut Operation Choke Point, a Department of Justice effort opposed by payday lenders that targeted unscrupulous lending practices. On February 4, 2016, Rep. Sessions voted for a bill that was written to "effectively stall 'Operation Choke Point,' 78 which aimed to "prevent unscrupulous Internet-based companies some payday lenders, for instance from gaining access to the banking system through intermediaries known as third-party payment processors." 79 Three days prior, he received $3,500 in campaign contributions from the payday lending industry 80 and two weeks after that he received another $2, Pete Sessions for Cash America $2,500 02/01/16 International Inc. PAC Pete Sessions for Feehan, Daniel (Cash $1,000 02/01/16 America Inc.) Pete Sessions for Ace Cash Express Inc. $300 02/19/16 PAC Pete Sessions for Ace Cash Express Inc. $1,700 02/19/16 PAC TOTAL $5,500 EXAMPLE 2. Rep. Sessions received $10,600 in campaign contributions from the payday lending industry after voting to weaken the Consumer Financial Protection Bureau (CFPB) by subjecting its funding to additional bureaucratic red tape. On July 15, 2014, Rep. Sessions voted to subject the funding for the CFPB to additional bureaucratic red tape. 82 Three weeks later, he received $10,600 in campaign contributions from the payday lending industry. 83 Pete Sessions for Stuart, Brent (Cash $250 08/06/14 America) Pete Sessions for Clay, David (Cash $250 08/06/14 America) Pete Sessions for Feehan, Daniel (Cash $2,600 08/06/14 America) Pete Sessions for Linscott, Curtis (Cash $1,000 08/06/14 78 Victoria Finkle, "Luetkemeyer Tries Again on Anti-Choke Point Bill," American Banker, 02/06/15; Cristina Marcos, "House passes bill to halt 'Operation Choke Point'," The Hill, 02/04/16; and HR 766, House of Representatives Vote 63, 02/04/16 79 The Editorial Board, "'Operation Choke Point' Hits the Mark," The New York Times, 10/10/14 80 Follow The Money search for Payday/Title Loans to Pete Sessions, Follow The Money, accessed 12/01/17 81 Follow The Money search for Payday/Title Loans to Pete Sessions, Follow The Money, accessed 12/01/17 82 Cristina Marcos, "House rebuffs bid to limit congressional review of CFPB," The Hill, 07/15/14 and HR 5016, House of Representatives Vote 411, 07/15/14 83 Follow The Money search for Payday/Title Loans to Pete Sessions, Follow The Money, accessed 12/01/17 Payday Puppets Page 24 of 32

26 America) Pete Sessions for Pepe, Vic (Cash $1,000 08/06/14 America) Pete Sessions for Bessant Jr., Thomas $500 08/06/14 (Cash America) Pete Sessions for Cash America $5,000 08/06/14 International Inc. PAC TOTAL $10,600 Payday Puppets Page 25 of 32

27 Rep. Steve Stivers (R-TX) EXAMPLE 1. Rep. Stivers received $2,000 in campaign contributions from the payday lending industry the day after sending a letter to the Consumer Financial Protection Bureau (CFPB) expressing concern over the bureau s work to rein in the worst abuses of the payday industry. On September 29, 2016, Rep. Steve Stivers (R-OH) sent a letter to the CFPB "expressing concern about the agency's proposal to rein in payday lending and other short-term credit." 84 The day after signing the letter, he received $2,000 in campaign contributions from the payday lending industry. 85 Stivers for Community Financial $2,000 09/30/16 Services Association of America PAC TOTAL $2,000 EXAMPLE 2. Rep. Stivers received $1,000 in campaign contributions from the payday lending industry the week after voting against an amendment that would have protected the Consumer Financial Protection Bureau s (CFPB) ability to hold payday lenders accountable. On July 6, 2016, Rep. Stivers voted against removing a provision from the 2017 Financial Services and General Government Appropriations Act that prohibited "funds from being used by the Consumer Financial Protection Bureau to enforce regulations or rules with respect to payday loans, vehicle title loans or other similar loans." The week prior, he received $1,000 in campaign contributions from the payday lending industry. 88 Stivers for Cash America $1,000 06/28/16 International Inc. PAC TOTAL $1,000 EXAMPLE 3. Rep. Stivers received $5,200 in campaign contributions from the payday lending industry just days after voting to cripple the Consumer Financial Protection Bureau (CFPB) by changing its structure and allowing to meddle with its funding. 84 Ian McKendry, "Bipartisan Group of Lawmakers Urges CFPB to Ease Up on Payday Rule," American Banker, 09/30/16 85 Follow The Money search for Payday/Title Loans to Steve Stivers, Follow The Money, accessed 12/06/17 86 H.R.5485, Library of, accessed 09/26/17 87 "July 2016 Vote History," U.S. Representative Phil Roe, M.D., accessed 09/26/17 and HR 5485, House of Representatives Vote 369, 07/06/16 88 Follow The Money search for Payday/Title Loans to Steve Stivers, Follow The Money, accessed 12/01/17 Payday Puppets Page 26 of 32

28 On February 27, 2014, Rep. Stivers voted to weaken the CFPB by subjecting it to the ional appropriation process, replace the CFPB s single director with a five-member board, and make it easier for a council of federal regulators to overrule the CFPB s decisions. 89 Experts have said such a move would hobble the CFPB and "slide [the bureau] into gridlock and inaction." 90 Two weeks later, he received $5,200 in campaign contributions from the payday lending industry. 91 Stivers for Financial Service $2,600 03/14/14 Centers of America Inc. PAC Stivers for Financial Service $2,600 03/14/14 Centers of America Inc. PAC TOTAL $5, Alan Zibel, "House Passes Bill Limiting Consumer Regulator," The Wall Street Journal, 02/27/14 and HR 3193, House of Representatives Vote 85, 02/27/14 90 AFL CIO et. al Letter to Representative, 5/03/11 91 Follow The Money search for Payday/Title Loans to Steve Stivers, Follow The Money, accessed 12/01/17 Payday Puppets Page 27 of 32

29 Rep. Kevin Yoder (R-KS) EXAMPLE 1. Rep. Yoder received $5,100 in campaign contributions from the payday lending industry in the days before and after sending a letter to the Inspector General of the Department of Justice (DOJ) asking for an investigation into Operation Choke Point, a DOJ effort opposed by payday lenders that targeted unscrupulous lending practices. On October 16, 2014, Rep. Kevin Yoder (R-KS) wrote a letter to the Inspector General of the Department of Justice requesting an "investigation into the Department of Justice (DOJ) program known as Operation Choke Point and the DOJ officials and staff involved in its creation and execution." 92 The operation aimed to "prevent unscrupulous Internet-based companies some payday lenders, for instance from gaining access to the banking system through intermediaries known as third-party payment processors." 93 In the weeks before and after sending the letter, he received $5,100 in campaign contributions from the payday lending industry. 94 Yoder for Aycox, Rod (Select $2,600 11/03/14 Management Resources) Yoder for Community Financial $2,500 09/30/14 Services Association of America PAC TOTAL $5,100 EXAMPLE 2. Rep. Yoder received $4,000 in campaign contributions from the payday lending industry in the days after voting to weaken the Consumer Financial Protection Bureau (CFPB) by subjecting its funding to additional bureaucratic red tape. On July 15, 2014, Rep. Yoder voted to subject the funding for the CFPB to additional bureaucratic red tape. 95 Two weeks later, he received $4,000 in campaign contributions from the payday lending industry. 96 Yoder for Jones III, William A. $2,000 07/31/14 (Check Into Cash) Yoder for Jones, Abby (Check $2,000 07/29/14 Into Cash) TOTAL $4, Blaine Luetkemeyer et. al. to Michael Horowitz et. al., 10/16/14 93 The Editorial Board, "'Operation Choke Point' Hits the Mark," The New York Times, 10/10/14 94 Follow The Money search for Payday/Title Loans to Kevin Yoder, Follow The Money, accessed 12/01/17 95 Cristina Marcos, "House rebuffs bid to limit congressional review of CFPB," The Hill, 07/15/14 and HR 5016, House of Representatives Vote 411, 07/15/14 96 Follow The Money search for Payday/Title Loans to Kevin Yoder, Follow The Money, accessed 12/01/17 Payday Puppets Page 28 of 32