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Anti-Empire

offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

offsite link Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi?

offsite link ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi?

offsite link US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty

Anti-Empire >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Wed Dec 25, 2024 00:32 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Starmer Doesn?t Have a Feel for Politics and His Team Lacks the Skills to Run the Country, Says Vete... Tue Dec 24, 2024 19:00 | Will Jones
Keir Starmer "doesn?t have a feel" for the Labour Party or politics in general and his team lacks the skills to run the country, veteran Labour MP?Diane Abbott?has said.
The post Starmer Doesn’t Have a Feel for Politics and His Team Lacks the Skills to Run the Country, Says Veteran Labour MP Diane Abbott appeared first on The Daily Sceptic.

offsite link Church of England Tells Clergy to Edit Christmas Carols to ?Avoid Unnecessary Offence? Tue Dec 24, 2024 18:00 | Will Jones
The Church of England has told clergy in Birmingham to watch out for "problematic words" in Christmas carols that imply Jesus is the "true Messiah" or other religions aren't valid. And they wonder why the pews are empty.
The post Church of England Tells Clergy to Edit Christmas Carols to “Avoid Unnecessary Offence” appeared first on The Daily Sceptic.

offsite link Best-Selling Hybrids Face Net Zero Ban From 2030 Tue Dec 24, 2024 15:42 | Will Jones
Some of Britain?s best-selling hybrid cars will be banned from sale after 2030 under a?Net Zero crackdown?proposed by Ministers, including the mild hybrid versions of the Ford Puma, Range Rover Evoque and VW Golf.
The post Best-Selling Hybrids Face Net Zero Ban From 2030 appeared first on The Daily Sceptic.

offsite link Experts Call For Return of Lockdown-Style Social Distancing as Flu Surges, Claiming ?a Fifth of Thos... Tue Dec 24, 2024 13:46 | Will Jones
Experts?have issued an urgent call for lockdown-style social distancing ahead of Christmas Day amid surging flu infections, claiming that a fifth of those infected have no symptoms but can spread it.
The post Experts Call For Return of Lockdown-Style Social Distancing as Flu Surges, Claiming “a Fifth of Those Infected Have No Symptoms But Can Spread It” appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en

offsite link Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en

offsite link How Washington and Ankara Changed the Regime in Damascus , by Thierry Meyssan Tue Dec 17, 2024 06:58 | en

offsite link Statement by President Bashar al-Assad on the Circumstances Leading to his Depar... Mon Dec 16, 2024 13:26 | en

offsite link Voltaire, International Newsletter N?112 Fri Dec 13, 2024 15:34 | en

Voltaire Network >>

Consumer Protection Bureau Unveils New "Payday" Lending Rules

category international | politics / elections | news report author Friday June 03, 2016 17:30author by Greg Williams Report this post to the editors

The Consumer Financial Protection Bureau releases new rules governing "payday" lending - high interest loans that impact low-income communities.

The Consumer Financial Protection Bureau releases new rules governing "payday" lending - high interest loans that impact low-income communities. Payday loans often carry interest rates over 300% and give lenders direct access to a borrower's bank account. The new regulations would require lenders to assess a borrower's ability to repay loans and meet basic living expenses. The rules are open for public comment until September 14.

"Nobody should take out high-interest loans that can make a bad economic situation even worse. These new payday rules mark an important step forward for responsible lending and borrowing." stated Eric LeCompte, executive director of the religious anti-poverty coalition Jubilee USA. "We also need strong state laws and we need Congress to support these rules."

Under the new regulations, payday lenders would be prevented from directly withdrawing funds from a borrower's bank account under certain circumstances. The Bureau estimates that one-sixth of borrowers who had funds directly removed from their bank account lose that account due to overdraft violations and shortage of funds.

"Some borrowers lose their bank accounts because of overdrafts when payday lenders directly extract funds," noted LeCompte.

According to the Bureau, about half of the 12 million Americans who borrow from payday lenders have to take out a second loan to pay off the initial loan. Members of Congress have introduced legislation to delay the new regulations. Consumer advocates and the payday lending industry continue to debate proposed laws at the state level, with 24 states passing significant restrictions.

"Some payday lending is actually predatory lending," remarked LeCompte. "Predatory practices must be discouraged and these rules are a good first step."

Jubilee USA Network is an alliance of more than 75 US organizations and 550 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA has won critical global financial reforms and more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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