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.
Intelligence officials from the so-called “Five Eyes” network, which includes the United States’ FBI, CIA and National Security Agency, are gathering for an annual intelligence-sharing exchange today in New Zealand. Reuters confirmed the get-together, at which spy agency reps from the United Kingdom, Canada, Australia, and New Zealand will also gather.
When occult historian Mitch Horowitz’s excellent 2009 book Occult America was published, he received a phone call from an admiring fan: Stephen K. Bannon. Over at Salon, Mitch writes about the right wing’s weird connection to New Age mysticism: (Bannon) professed deep interest in the book’s themes, and encouraged me in my next work, “One […]
Early projections in France’s presidential elections today show that far-right candidate Marine Le Pen and centrist Emmanuel Macron will now face off in a runoff election. Macron came in first, and Le Pen second, in Sunday’s first round of voting. Moscow won’t be happy if Le Pen loses the next round of voting for the […]
“Gets stuff done,” is a good way to be described by anybody. Especially by coworkers or bosses. Because whether you’re in finance or a children’s librarian, stuff needs to get done. But how do you make sure stuff gets done? You definitely can’t do all the stuff yourself, unless your company/organization/government office consists entirely of you. And […]
Even the most expensive pair of hi-fi headphones can’t match the feeling of bass rumbling through your body at a live show. That’s why music aficionados designed The Basslet, an accessory that reproduces that sensation from your wrist. Does it make your whole body shake with deep subs? Not really, because that would be terrifying, but […]
They probably just sleep a lot. But still, you can remotely keep an eye on them when you’re at work and missing them deeply with this HD monitor from Kodak.If you have a new puppy that destroys everything in sight, or you just want to be a little more security-conscious, this WiFi camera is a […]