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WELCOME TO SCM SPORTING CLASSIC MOTORS

SCM Sporting Classic Motors is a company based in north Hampshire close to the Berkshire border in Southern England specialising in classic car restoration, with an emphasis on historic motor vehicles with a sporting predisposition.

POST-WAR CLASSIC CARS

The restoration of pre-war vintage motor vehicles is incorporated with post war Classic Car restoration, classic car maintenance, classic car servicing and classic car repairs.

OUR WORK INCLUDES

Much of the work involves British and German classics such as Mercedes Benz, Porsche, Austin Healey, Bentley and Daimler but not exclusively.

Cummings Introduce SAFE Lending Act to guard Consumers from Predatory techniques in Payday Lending

WASHINGTON, D.C. – Today, Oregon’s Senator Jeff Merkley, Congresswoman Suzanne Bonamici, and Congressman Elijah E. Cummings introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act. The SECURE Lending Act would break straight down on a few of the worst abuses for the lending that is payday, especially in online payday lending, and protect customers from misleading and predatory methods that strip wide range from working families.

The Consumer Financial Protection Bureau (CFPB), which previously was set to institute national rules related to payday loans, has suddenly reversed course on consumer protections from payday predators under Trump administration leadership. Without strong CFPB defenses at a nationwide degree, state rules protecting customers is going to be much more crucial.

“Predatory payday advances trap working families in a vortex of financial obligation. These ultra high-interest loans are unsatisfactory and destructive,” said Merkley. “President Trump appears determined to show the customer Financial Protection Bureau to the Payday Predator Protection Bureau, making state rules like Oregon’s even more crucial. Along side Congresswoman Bonamici and lots of our peers, we’re delivering a very good message: Protect states’ rights to guard their customers.”

“Too lots of people in Oregon and in the united states have already been victims of predatory lending, caught in a period of financial obligation to cover crisis costs or their rent,” stated Bonamici. “Even though Oregon has many of the greatest laws and regulations in the united states to handle predatory lending that is payday on the internet online payday DE and offshore loan providers are employing loopholes to obtain around those regulations and exploit susceptible Oregonians. The Consumer Financial Protection Bureau is gutting policies that have cracked down on predatory lending under Trump’s leadership. Congress must pass our SECURE Lending Act to control these activities that are predatory protect customers.”

“Payday loan providers regularly victimize hardworking People in the us struggling which will make ends fulfill by billing exorbitant rates of interest that trap them within an endless cycle of financial obligation,” said Cummings. “The SECURE Lending Act of 2018 will empower consumers, respect States’ rights, help alleviate problems with shadow financing, and present State and Federal authorities the various tools required to fight rogue Internet-based loan providers.”

In modern times, numerous states have actually put in place tough laws and regulations to end lending that is abusive but payday predators have actually continued making use of online financing to victim on customers. Online loan providers hide behind levels of anonymously registered sites and “lead generators” to evade enforcement. Even though the financing violates what the law states, abusive payday loan providers can empty customers’ banking account before they usually have the opportunity to assert their legal rights. Payday loan providers with usage of consumers’ bank reports may also be issuing the funds from loans on prepaid cards offering high overdraft charges. Whenever these cards are overdrawn, the payday loan provider then can achieve in to the consumer’s bank-account and cost the overdraft charge, piling on further debts.

“The customer Bureau and congress have actually in past times comprehended the way in which payday lenders structure loans to catch Americans in a period of financial obligation with excessive interest levels. It is regrettable that some in Washington would open the loan rather shark gates than continue steadily to think of sensible borrower defenses. The SECURE Lending Act would place Washington straight straight back on course to quit your debt trap,” stated José Alcoff, supervisor associated with #StopTheDebtTrap campaign, a coalition of over 750 rights that are civil faith, veterans, and customer teams around the world.

“The customer Bureau and congress have actually within the past understood the way in which payday lenders structure loans to catch Americans in a period of debt with excessive interest levels. Its regrettable that some in Washington would open the loan rather shark gates than continue steadily to think of sensible debtor defenses. The SECURE Lending Act would place Washington right back on course to prevent your debt trap,” stated José Alcoff, supervisor associated with the #StopTheDebtTrap campaign, a coalition of over 750 civil liberties, faith, veterans, and customer teams in the united states.