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.
House Preparing To Legalize Payday Loans With 391% APRs
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.
Randy Bryce wants to challenge Republican House Speaker Paul Ryan for the First District of Wisconsin, where Ryan beat his most recent Democratic challenger by 35 points.
Sean Spicer, the White House press secretary, first held an off-camera briefing that had one reporter describe him as “just kind of useless”, then was ridiculed by colleague and top Trump crony Steve Bannon as getting fatter, thereby explaining his unwillingness to be seen, and is now reported to be “searching for his own replacement.” […]
Senator Joe Manchin [D-WV, @Sen_JoeManchin, +1 304-342-5855] is a right-wing Democrat Senator whose inglorious career includes breaking with his party to endorse President Trump’s deal to sell record quantities of weapons to the Saudis.
As the old saying goes, “You should sit in meditation for 30 minutes every day. Unless you are too busy, in which case you should meditate for an hour.” Since most of us have an endless list of things to do and people to see, carving out quiet time can feel impossible, especially when most […]
The Bragi Dash Truly Wireless Smart Earphones are far more than your run of the mill Bluetooth earbuds. While the earpiece design makes these earbuds ideal for exercise and activity, and passive noise cancelling is conducive to a more serene listening experience, these buds go well beyond just playing music.First of all, they can actually […]