The predatory payday lending industry -- "'legalized loan sharks collect 75 percent of their fees from people stuck in more than 10 loans a year by charging 300 percent APR" -- is lobbying hard to kill the proposed Consumer Financial Protection Bureau's proposed "debt trap" rule, "that would require lenders to determine whether borrowers can afford to pay back their loans and cut off repeated debit attempts that rack up fees and make it harder for consumers to get out of debt."
These small, sensible steps are the bare minimum to protect the most vulnerable, poorest Americans from the exploitative usury industry.
With one click, you can send an email to the CFPB in support of this move, pushing back against the payday lenders' big money lobbyists.
Payday lenders shouldn’t be able to trap millions of Americans in a cycle of debt they can’t escape. Your comment was sent to the Consumer Financial Protection Bureau, in an effort to urge them to regulate payday lenders and ensure that hard-earned money stays in the hands of those who earn it – and not in the hands of payday loan sharks.
Stop Payday Predators
(via Naked Capitalism)
Smarter people than me have pointed out that "work-life balance" says the quiet part out loud, implicitly confirming that you stop living when you're at work. Miles Matrix's Dungeons and Deadlines makes all this much realer with acerbic wit and rockin' chiptunes. My spouse left me after five turns. (via Four Short Links)
The China Law Blog (previously) is one of my favorite sources of insight into the secret workings of the businesses that produce the majority of the world's daily-use goods.
About five years ago, I was trying to get a bunch of Big Tech companies to take the right side of an urgent online civil rights fight, and I called an old friend who was very senior at one of the biggest tech companies in the world; they told me that it wasn't going to […]
Now that the latest iPhones have embraced the wireless charging revolution, there’s really no excuse for not having a wireless charger of your own. But even the best wireless chargers don’t allow users to use their phones while they’re being powered up. This Suction Powered Wireless Charger breaks that rule by allowing you to comfortably […]
You no longer need to invest vast quantities of your time and money in order to take advantage of everything that graphic design can do for your brand or business. Design Wizard Pro allows you to quickly create pro-level image designs in minutes, and a lifetime subscription is currently available for over 90% off its […]
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