Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee on Tuesday that he didn’t see why bank nationalization would be necessary. David Wessel of The Wall Street Journal talks with Renee Montagne about what nationalization means.
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Federal Trade Commission claims the companies have used “deceptive” lending and collection practices.
The companies named in the lawsuit, which was filed November 2008, are: Leads Global Inc., Waterfront Investments Inc., ACH Cash Inc., HBS Services Inc., Lotus Leads Inc., First4Leads Inc., Rovinge International Inc.
The companies have agreed to obey the court order until the case goes to trial.
The companies are accused of omitting loan terms from online payday loan applications. The suit also says the companies “used abusive and deceptive collection tactics.”
Here is a list of some other claims prosecutors are making:
“Falsely threatening consumers with arrest or imprisonment, falsely claiming that consumers are legally obligated to pay the debts, threatening to take legal action they cannot take, repeatedly calling consumers at work and using abusive and profane language; and disclosing consumers' purported debts to co-workers, employers and other third parties.”
The lawsuit does not seek to shut these companies down or take away their lending licenses. The prosecutors will seek to bar the companies from using the practices named in the future.
The court will also ask that the companies forfeit any money acquired using said practices. ... click here to read the rest of the article titled "Feds Ban Online Payday Loan Companies from Certain Practices"
The Center For Food Safety’s True Food Network Web site urges concerned Americans to lobby their elected officials and the Environmental Protection Agency (EPA) about this potentially dangerous substance that is found in scores of household products. Nano-silver appears in over 300 products currently, from appliances, clothing and cutlery to toys, product packaging and more. In total, many of the current products containing nano-silver are marketed toward children. Quick thinking loans itself to the theory that children are even being targeted by such products, simply because of the germ-killing potential. But it is simply too much of a risk, potentially.
According to True Food Network, studies have shown that “nano-silver can harm fish and aquatic ecosystems, potentially interfere with beneficial bacteria in our bodies and the environment, encourage the development of more virulent harmful bacteria, and directly interact with our genes, interfering with DNA replication.” Yet there has been no official safety testing done by the agency that is charged with protecting the health of American citizens!
Nanoparticle silver (”nano-silver”) is advertised as having germ killing abilities. It’s a product of micro-sized nanotechnology, a technology powerful where matter can be reconstructed on the atomic and molecular levels. While vaguely related to regular silver, scientists tend to agree that nano-silver is rather different and it, like other nanoparticles, should be safety tested before humans are exposed to products that contain it. Despite little or no testing, nanotechnology continues to make advances in the consumer market. Now, nano-silver is the most common commercialized nano-material - and the full health and environmental impacts of the substance are unknown! ... click here to read the rest of the article titled "Quick Loans For Better Testing: Nano-Silver and the EPA"
There are few things more exciting than becoming a homeowner for the first time. The pride, the sense of accomplishment… the toxic drywall.
Dave Burdick of the Huffington Post reports that new homeowners in Florida have noticed very strange smells in their new homes. After inspecting, officials believe that the smell is coming from high sulfur content in drywall that came from China. Now cases have been reported in other states.
According to Burdick, blogs like Treehugger first began to break this troubling story. Now many others know. What follows are highlights from a sample press release that provides some answers about what’s going on here:
This frightening news comes at the wrong time for America. People are suffering under an oppressive economy, and many cannot afford the remodeling that will be necessary. Payday loans help with small budget surprises, but were not intended to fund full-scale home remodeling, complete with untainted sheet rock. Chalk another one up to cheap manufacturing and a lack of safety controls. China, you’re on my short list… ... click here to read the rest of the article titled "Is Drywall Poisoning Us? | Payday Loans For Better Materials"
Take a look at a real, live predator.
A study from George Washington University shows that most payday cash advance loans borrowers “use the credit intelligently.”
In fact, only a tiny fraction of payday loan users said they had trouble getting out of debt because of payday cash advance loans.
Opponents of payday loans like to throw around the word “predatory” when talking about payday loans. However, people who actually use payday loans don’t seem to feel preyed upon.
“Only about 3 percent of payday loan customers mentioned difficulty of getting out of debt as a reason for being dissatisfied or only partially satisfied with their most recent new payday loan,” the survey says.
Many legislators out there, probably a lot more than 3 percent, are clamoring for “protecting the consumer” and regulating payday loans. Seems to me they are trying to fix something that isn’t broken.
One disgruntled consumer wrote a letter to the editor of a Kansas newspaper, saying that payday loans help households, not hurt them. ... click here to read the rest of the article titled "Payday Cash Advance Loans Get Good Ratings"
A Reuters UK report by JoAnne Allen shows that according to public opinion polls, “large majorities” of Americans remain on board with the president’s plans to revive a sagging economy. His bipartisan approach has also gained favor.
A Washington Post-ABC News poll found that 68 percent of Americans approve of how Obama is doing, while 64 percent support the $787 billion economic stimulus package and the foreclosure support package. A New York Times/CBS News poll marks 63 percent as Obama’s current overall approval rating, with over 75 percent of Americans claiming they’re “optimistic” about the next four years
Among the things both polls had in common was that they found that Obama had widespread bipartisan support. On the flip side, those polled were quick to find fault with Republicans for their divisive stance. Sixty-three percent of them felt Republicans had “opposed the economic stimulus package for political reasons rather than policy concerns.” As anybody knows about politics, however, opinion loans itself cheap; it’s a matter of which way the wind is blowing.
Interestingly, while 62 percent think the stimulus will help local economies, only 46 percent think it will help them personally. ... click here to read the rest of the article titled "Americans Say Yes to Obamanomics, Need Cheap Loans"
A Reuters UK report by JoAnne Allen shows that according to public opinion polls, “large majorities” of Americans remain on board with the president’s plans to revive a sagging economy. His bipartisan approach has also gained favor.
A Washington Post-ABC News poll found that 68 percent of Americans approve of how Obama is doing, while 64 percent support the $787 billion economic stimulus package and the foreclosure support package. A New York Times/CBS News poll marks 63 percent as Obama’s current overall approval rating, with over 75 percent of Americans claiming they’re “optimistic” about the next four years
Among the things both polls had in common was that they found that Obama had widespread bipartisan support. On the flip side, those polled were quick to find fault with Republicans for their divisive stance. Sixty-three percent of them felt Republicans had “opposed the economic stimulus package for political reasons rather than policy concerns.” As anybody knows about politics, however, opinion loans itself cheap; it’s a matter of which way the wind is blowing.
Interestingly, while 62 percent think the stimulus will help local economies, only 46 percent think it will help them personally. ... click here to read the rest of the article titled "Americans Say Yes to Obamanomics, Need Cheap Loans"
