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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

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Lockdown Skeptics

The Daily Sceptic

offsite link The Debate: This House has Confidence in the President-Elect of the Oxford Union Wed Sep 17, 2025 11:37 | Will Jones
Should the Oxford Union have confidence in its President-Elect, George Abaraonye, whose comments celebrating Charlie Kirk's murder were leaked this week? Is it a matter of cancel culture or basic decency? Join the debate.
The post The Debate: This House has Confidence in the President-Elect of the Oxford Union appeared first on The Daily Sceptic.

offsite link BBC Moral Maze Waffle-Fest Fails to Address Objection That Net Zero Could Leave Billions Dead From S... Wed Sep 17, 2025 09:00 | Chris Morrison
In last week's Net Zero edition of the BBC's Moral Maze, the most basic objection to climate doomerism ? that Net Zero 2050 could leave billions dead of starvation ? was ignored, says Chris Morrison.
The post BBC Moral Maze Waffle-Fest Fails to Address Objection That Net Zero Could Leave Billions Dead From Starvation appeared first on The Daily Sceptic.

offsite link How Left-Wing Activists are Recycled Wed Sep 17, 2025 07:00 | Charlotte Gill
If you've looked at pictures of Left-wing protests and think, 'Haven't I seen her before?' you'd be right! Charlotte Gill investigates the weird small world of Leftist activist recycling.
The post How Left-Wing Activists are Recycled appeared first on The Daily Sceptic.

offsite link News Round-Up Wed Sep 17, 2025 01:15 | 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 German State Media Have Systematically Slandered Charlie Kirk in the Wake of his Assassination Tue Sep 16, 2025 19:00 | Eugyppius
German state media have systematically slandered Charlie Kirk in the wake of his assassination, says Eugyppius. They portray him as an unhinged and dangerous fascist, just stopping short of blaming him for his own death.
The post German State Media Have Systematically Slandered Charlie Kirk in the Wake of his Assassination appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | 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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