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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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Human Rights in Ireland
Promoting Human Rights in Ireland

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Lockdown Skeptics

The Daily Sceptic

offsite link Integration Is a Myth ? Bradford?s Parallel Society Is Thriving Sun Jun 29, 2025 19:00 | Richard Eldred
The Mirpuri Muslim enclaves in Bradford, argues Richard North, reject integration, exploit British democracy and deepen division ? while those who notice are smeared and silenced.
The post Integration Is a Myth ? Bradford?s Parallel Society Is Thriving appeared first on The Daily Sceptic.

offsite link Police Chief Suspended for Rejecting ?Nonsense? Racism Claims Launches Legal Battle Sun Jun 29, 2025 17:36 | Richard Eldred
Suspended for calling racism claims "nonsense", the former head of West Midlands Police Federation is suing his union over what he calls a "witch hunt" and a sinister attack on free speech.
The post Police Chief Suspended for Rejecting ?Nonsense? Racism Claims Launches Legal Battle appeared first on The Daily Sceptic.

offsite link Police Record Thousands of Absurd Hate Incidents as Serious Crime Soars Sun Jun 29, 2025 15:00 | Richard Eldred
Police recorded over 6,000 so-called "Non-Crime Hate Incidents" last year, including complaints about a man singing 'Flower of Scotland' and another using an Indian accent, while serious crimes rose 14%.
The post Police Record Thousands of Absurd Hate Incidents as Serious Crime Soars appeared first on The Daily Sceptic.

offsite link Glastonbury Finally Apologises Over Appalling Anti-Israel Chants Broadcast Live on BBC Sun Jun 29, 2025 13:00 | Richard Eldred
Glastonbury has finally said sorry after punk rap duo Bob Vylan shouted "death to the IDF" live on the BBC ? triggering a storm over antisemitism, a police probe and total silence from the broadcaster.
The post Glastonbury Finally Apologises Over Appalling Anti-Israel Chants Broadcast Live on BBC appeared first on The Daily Sceptic.

offsite link Supermarkets Told to Cut Shoppers? Calories Sun Jun 29, 2025 11:00 | Richard Eldred
A plan to slash 100 calories from every supermarket basket has sparked outcry, with critics calling it nanny statism gone mad and shops warning it means fewer snacks and higher prices.
The post Supermarkets Told to Cut Shoppers? Calories 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

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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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