The US House subcommittee on Financial Services is agitating to legalize payday loans with 391% APRs. Key committee members have received large campaign contributions from the "payday" industry, and the committee chairman, Luiz Gutierrez (who also received contributions from the payday people) says the reason he's offering the industry this sweetheart deal after being on record as opposing this sort of thing is that their powerful lobbying has left him powerless to resist them: "...[T]hey're very powerful. Their influence should not be underestimated."
After watching members of the military fall prey to exorbitant payday loans, Congress in 2006 capped the interest rates for military payday loans at 36%. Fifteen states have similar caps or outright bans.
Congressman Gutierrez is competing with Congressman Joe Baca to see who can author the biggest giveaway. Baca's legislation would allow rollovers, higher fees for online banks, and would pre-empt state laws banning payday loans.
In an epic Twitter tear, Clay Shirky addresses white liberals who are horrified by the rise of Trump and reminds them that “Trump IS the voice of angry whites. He wasn’t on stage because he has unusual views. He was on stage because he has the usual ones, loudly.”
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3D printers are hot, but they’re also pricey. While the prospect of cranking out everything we can dream up is enticing, cost is often one factor that keeps us from jumping onto the 3D printing train.Now, thanks to M3D, that doesn’t have to be the case. You can now get its flagship 3D printer–plus four reels of filaments–for just […]
It’s no secret that technology is changing the way we all work—but it’s also transforming the way we play. The games of today look nothing like those of 10 or even 20 years ago: these days it’s all about mobile and 3D. And now you can learn to design 3D mobile games with the Intro to Unity 3D Game […]