How a Credit Union’s Left-Wing Execs Got Uncle Sam to Shut Down the Competition

Center for Responsible Lending Chief Executive Officer Martin Eakes testifies on Capitol Hill in Washington, Thursday, Nov. 13, 2008

Martin Eakes speaks in high-minded tones when he condemns payday lending. But his decades-long vendetta against the industry, subsidized by taxpayers and taking place within federal regulatory agencies themselves, could drive more business to financial institutions that Eakes runs.