California's lax usury laws means out-of-state loan sharks are charging desperate Californians 183% APRs

California regulates payday loans (good thing, since Trump's about to kill the federal rules preventing payday loansharking), but not "installment loans" of $2,500 to $5,000 and that means that out-of-state lenders are able to target desperate Californians; they're getting seven-year loans of $5,000 that cost $42,000 to repay. Read the rest

Betsy DeVos ends ban on crooked loan-collectors in the student debt biz

Education secretary (and Ponzi-scheme billionaire heiress, anti-public-education crusader, and sister of notorious war criminal Eric Prince) Betsy DeVos just killed the recent Department of Education/Consumer Financial Protection Bureau guidelines that banned dirty bill-collectors from going after people with delinquent student bans. Read the rest