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.
A Reuters/Ipsos poll found that more than 50% of U.S. voters believe the system that American political parties use to select their candidates for President is “rigged.” Over two-thirds of those polled want to see the process changed.
Republican presidential candidate Ted Cruz, embarking on a new phase of his campaign after it became impossible to beat Donald Trump in the first round of voting at this summer’s Republican convention, is to name Carly Fiorina as his running mate.
A Harvard University survey found that among adults between 18 and 29 years of age, 51 percent “do not support capitalism.” 42 support it, reports The Washington Post. A third say they support socialism as an alternative. The survey is “difficult to interpret” due to the simplicity of choices and their lack of definition, say […]
Isn’t it about time to stretch what your Mac can do? I mean, you’ve got plenty of great programs now…but don’t you think you could use some new tools to get your creative, analytical and organizational juices really flowing? It’s spring, so we cleaned up a whole bunch of super-cool apps lying around and packaged […]
In the world of app development, there’s no greater arena to find success than with Android users. About 80% of the smartphones in use today worldwide operate on the Android operating system, so if you build a great app that Android users love, you’re an international rock star. You’ll be able to make sure your […]
Unless you’re a programmer or webmaster, the term SQL probably doesn’t mean much to you. But for those looking to understand more about how and why the web works the way that it does, know this – SQL and its process of managing and presenting large data sets is everywhere…and it’s the most in-demand programming […]