|
|
| |
Topic: Major Banks Aid in Payday
Loans Banned by States |
Major Banks Aid in Payday
Loans Banned by States
New York Times, by Jessica Silver-Greenberg
|
|
Original Article
|
|
Posted By:LittleHoodedMonk, 2/24/2013 5:40:54 PM
|
| Major banks have quickly become behind-the-scenes allies of Internet-based payday lenders that offer short-term loans with interest rates sometimes exceeding 500 percent. (Snip) While the banks, which include giants like JPMorgan Chase, Bank of America and Wells Fargo, do not make the loans, they are a critical link for the lenders, enabling the lenders to withdraw payments automatically from borrowers’ bank accounts, even in states where the loans are banned entirely. In some cases, the banks allow lenders to tap checking accounts even after the customers have begged them to stop the withdrawals.
|
Comments:
These ads sound like a breed of professional loan sharks on the radio, especial during tax season. Glad that states are banning them. Where´s Congress? Isn´t this their venue?
|
 
Reply 1 - Posted by:
4Justice, 2/24/2013 5:55:29 PM (No. 9193970)
Yes, the interest rate is high, but sometimes it is the only way people can get an emergency loan. I use them and they have saved my life many times. Yes, it is almost like going to a loan shark, but it is much safer and legal. Say what you want, but these companies are doing some folks a service. I hope they are not all banned. It will end up hurting a lot of folks.
|
Reply 2 - Posted by:
Country Boy, 2/24/2013 6:03:20 PM (No. 9193980)
Seems to me that Banks are more a target than a beneficiary of current scams.
Wasn´t that long ago, if you defaulted on your debts to a bank, you went to jail. It was called Debtors Prison. The entire continent of Australia was originally a debtors prison.
Now, if you can´t pay your debts, it´s the banks fault. Go figure.
Times change, and now not for the better.
|
| |
|
Reply 3 - Posted by:
JAN, 2/24/2013 6:06:17 PM (No. 9193984)
And in a major gift to the banks, ALL social security payments must be made to a bank. No longer will checks be sent in the mail.
The recipient will have a debit card from the bank.
|
Reply 4 - Posted by:
secondtimelucky, 2/24/2013 7:32:55 PM (No. 9194078)
The recipient of a payday loan has given account and routing numbers and withdrawal authorization to the lender. I don´t imagine these lenders could access accounts without that. If they´re taking back their loans with prior autho, what is illegal??? If they´re withdrawing more than is due, that´s another issue. But this isn´t that.
Per the article, one borrower was working with 6 online lenders. I believe the agreement between a lender and borrower stipulates that they can snag their payment any time after day X - which would likely be whenever you tell them there are funds in the account. If you´re paid on the 1st and 15th, or once a month - that´s when they´re going to get their money. The bigger problem is that these people are going from one lender to the next and paying one with the proceeds of the other - sooner or later the plates stop spinning and crash to the floor of the stage...
|
Reply 5 - Posted by:
lylacat, 2/24/2013 10:10:40 PM (No. 9194217)
If people apply for these loans knowing the interest is very high, and they agree to pay this money back. It is as simple as that. What makes these people think the bank should not give the money to the lender when it is owed. Child support payments should not be exempt. If you owe the money, you should be forced to pay it back. We live in this country where everyone thinks they are entitled to have anything they want and they should not have to pay for any of it.
|
Reply 6 - Posted by:
ColonialAmerican1623, 2/24/2013 10:53:25 PM (No. 9194256)
Banks are always the good guy, much like the gov, aren´t they ?
Payday loans are nothing compared to pawn shops in our Obummmer world. It seems they were left out of payday loan laws.
|
Reply 7 - Posted by:
Trigger2, 2/25/2013 1:17:16 AM (No. 9194347)
The mentioned banks are all huge demonrat poltical bundling kitties for demonrats. Now you know where they get their money from while claiming they had nothing to do with these shark loans. Quid Pro.
|
| |
|
Reply 8 - Posted by:
uscgretired99, 2/25/2013 4:30:53 AM (No. 9194421)
I worked the numbers from the Indian Reservation loan for 10K, it was 84 months at 749.ish per month. yikes!!! 62,916.00 payback, loan sharks would be proud!!!
|
Below, you will find ...
Most Recent Articles posted by "LittleHoodedMonk"
and
Most Active Articles (last 48 hours)
|
Most Recent Articles posted by "LittleHoodedMonk"
|
Guatemalan Court Overturns
Genocide Conviction of Ex-Dictator
|
|
New York Times, by Elisabeth Malkin
Original Article
|
|
Posted By: LittleHoodedMonk- 5/21/2013 3:01:10 AM
Post Reply
|
|
Mexico City - Guatemala’s highest court on Monday threw out the genocide conviction and prison sentence of the former dictator Gen. Efraín Ríos Montt. The decision by Guatemala’s Constitutional Court was a dramatic legal victory for General Ríos Montt, 86, and a blow to human rights advocates who had called his conviction a sign that Guatemala’s courts would no longer allow impunity for the country’s powerful. General Ríos Montt was sent to prison immediately after the verdict on May 10 when a three-panel tribunal found him guilty of genocide and crimes against humanity.
|
IG Report Confirms: DOJ Official
Smeared Fast and Furious
Whistleblower John Dodson
|
|
Townhall, by Katie Pavlich
Original Article
|
|
Posted By: LittleHoodedMonk- 5/21/2013 2:49:40 AM
Post Reply
|
|
Monday the Department of Justice Inspector General [IG] confirmed what Townhall and other media outlets have been reporting for more than a year now: DOJ officials smeared Fast and Furious whistleblower and ATF Agent John Dodson. As a reminder, Dodson was the first whistleblower to expose Operation Fast and Furious. He revealed the operation´s connection to the murder of Border Patrol Agent Brian Terry on to CBS News reporter Sharyl Attkisson on March 3, 2011. The IG report confirms that former U.S. Attorney Dennis Burke, who has a long personal and professional relationship with
|
Live Wire: M.E.´s Office
confirms 91 dead in Moore tornado
|
|
KOCO-TV [Oklahoma City, OK], by Staff
Original Article
|
|
Posted By: LittleHoodedMonk- 5/21/2013 2:15:19 AM
Post Reply
|
|
Oklahoma City - State medical examiner´s office: 91 killed in Oklahoma tornado; death toll expected to rise. Spokeswoman Amy Elliott tells KOCO 5 that 51 of the deaths have been confirmed but that her office was awaiting the arrival of 40 more fatalities. Authorities say an elementary school in an Oklahoma City suburb took a direct hit from a mile-wide tornado. Gary Knight with the Oklahoma City Police Department says there is no word of injuries from the elementary school. Knight says the school suffered "extensive damage" on Monday afternoon. He did not say which school was hit.
|
| |
|
IRS Scandal: Armed Police ´Escort´
Reporters Through Cincinnati Office
|
|
Brietbart´s Big Journalism, by Johne Nolte
Original Article
|
|
Posted By: LittleHoodedMonk- 5/20/2013 6:25:36 PM
Post Reply
|
|
Monday afternoon, ABC News released a chilling report that details what journalists have faced while trying to get some answers from the Cincinnati IRS office, which is where a majority of the Tea Party targeting took place. According to ABC, an "armed uniform police officer with the Federal Protective Service" "escorted" reporters through the public building. ABC says if the intent wasn´t to "scare off" employees who might talk, "it was the effect." ABC News is also hearing conflicting reports from Cincinnati IRS employees and the IRS Headquarters in Washington.
|
Four key Hillary Clinton staffers from
2008 unlikely to sign on for 2016 bid
|
|
Washington Post, by Jason Horowitz
Original Article
|
|
Posted By: LittleHoodedMonk- 5/19/2013 11:06:36 PM
Post Reply
|
|
Howard Wolfson, the 2008 communications director for Hillary Rodham Clinton, has said he will not return for a 2016 presidential campaign. Neither, for that matter, will Neera Tanden, the campaign’s policy director. Ditto for Mark Penn, the chief strategist, and Patti Solis Doyle, the embattled campaign manager. As core members of a dysfunctional “Team of Rivals,” these top advisers were seared, scattered and, to different degrees, forged by the 2008 experience. Haunted by the failures in management and messaging, they have worked hard to get over their shattered White House dreams
|
|
The Issue: The 2013 farm bill
|
|
United Press International, by Marcella S. Kreiter
Original Article
|
|
Posted By: LittleHoodedMonk- 5/19/2013 10:58:05 PM
Post Reply
|
|
The biggest issue in the U.S. farm bill has little to do with agriculture and everything to do with partisan politics and the role of government in caring for the poor: food stamps. It has a catchier name now, SNAP, the Supplemental Nutrition Assistance Program. The mark-up of the $500 billion measure approved 36-10 by the House Agriculture Committee last week cuts $20.5 billion in food assistance over 10 years to rein in SNAP´s growth. The program, which serves 47 million Americans, averages $70 billion a year, about 70 percent of farm bill spending and eclipsing the crop insurance program.
|
In Shadow of the Stonewall Inn,
a Gay Man Is Killed
|
|
New York Times, by Marc Santora & Joseph Goldstein*
Original Article
|
|
Posted By: LittleHoodedMonk- 5/19/2013 9:55:13 PM
Post Reply
|
|
Mark Carson did not hide that he was gay, and when he went out on the town he would often head to Greenwich Village, where years before he was born, much of the struggle for gay liberation unfolded. Yet late Friday night, just blocks from the Stonewall Inn, among the most important landmarks of that struggle, he was confronted with a man screaming antigay slurs, who then stalked him before pulling out a silver revolver and fatally shooting him, the police said. “This clearly looks to be a hate crime,” Police Commissioner Raymond W. Kelly said at a news conference on Saturday.
|
Most Active Articles (last 48 hours)
|
White House Chief of Staff knew about
damaging IRS audit, kept Obama in the dark
|
|
New York Post, by S.A. MILLER
Original Article
|
|
Posted By: FlyRight- 5/20/2013 4:15:03 PM
Post Reply
|
|
WASHINGTON – The Internal Revenue Serviced scandal today spread further within the White House and closer to President Obama. White House spokesman Jay Carney today disclosed that Obama’s chief of staff, Dennis McDonough, and other top White House officials had advance warning that the IRS was targeting conservative groups. But he insisted McDonough and the other White House officials purposely kept Obama out of the loop.McDonough “rightly chose not to take action” to inform Obama, Carney told reporters at the daily White House briefing.
|
| |
|
Obama: "As An African American
You Have To Work Twice As Hard
As Anyone Else If You Want To Get By"
|
|
Real Clear Politics, by Staff
Original Article
|
|
Posted By: Desert Fox- 5/19/2013 6:55:47 PM
Post Reply
|
|
PRESIDENT OBAMA: You are the mantle of Frederick Douglass and Booker T. Washington and Ralph Bunche and Langston Hughes and George Washington Carver and Ralph Abernathy and Thurgood Marshall and, yes, Dr. Martin Luther King Jr. These men were many things to many people and they knew full well the role that racism played in their life. But when it came to their own accomplishments and sense of purpose, they had no time for excuses. Every one of you has a grandma or an uncle or a parent whose told you at some point in life
|
BREAKING: WashPost Reports
Obama DOJ Also Spied on
James Rosen of Fox News
|
|
Newsbusters, by Tim Graham
Original Article
|
|
Posted By: drive- 5/20/2013 7:29:20 AM
Post Reply
|
|
The Washington Post on Monday reported that Obama’s Department of Justice was investigating journalists before they started wiretapping the Associated Press – for one, Fox News correspondent James Rosen in 2010. Their headline wasn´t "Obama Team Also Spied on Fox News." Fox wasn´t in the headline, on A-1 or on A-12, where the story continued. Newly obtained court documents “reveal how deeply investigators explored the private communications of a working journalist — and raise the question of how often journalists have been investigated as closely as Rosen was in 2010.” Reporter Ann Marimow began:
|
Leaks turn to deluge
for reeling White House
|
|
New York Post, by John Podhoretz
Original Article
|
|
Posted By: StormCnter- 5/21/2013 4:49:13 AM
Post Reply
|
|
The wheels came off the Obama administration yesterday. We learned of a startling assault on freedom of the press by the Department of Justice, following the revelation last week of the unprecedented information-gathering foray by that department against The Associated Press. Then, a few minutes later, the Justice Department’s inspector general released a report declaring that the US attorney in Arizona used the leak of a confidential memo to try to discredit a whistleblower in the notorious “gun-walking” scandal known as Fast and Furious (which got two federal agents killed). The leak was called “egregious.”
|
White House Aide calls
Criticism of Obama ´Offensive´
|
|
New York Times, by Brian Knowlton
Original Article
|
|
Posted By: FlyRight- 5/20/2013 7:01:33 AM
Post Reply
|
|
A senior adviser to President Obama mounted a combative defense of the administration on Sunday, saying the controversies enveloping the White House were the result of Republican lawmakers’ trying to “drag Washington into a swamp of partisan fishing expeditions, trumped-up hearings and false allegations.”The remarks came from Dan Pfeiffer, a member of the president’s inner circle, as he appeared on all five major Sunday morning talk shows in an effort to move the administration past what commentators have described as a “hell week” of controversy and missteps.
|
If Your Doctor Asks You About
Guns, Do You Have to Answer?
|
|
Fox News, by Staff
Original Article
|
|
Posted By: KarenJ1- 5/20/2013 1:12:07 PM
Post Reply
|
|
Stuart Varney said this morning on "Varney & Co." that one of his producers was given a questionnaire with some surprisingly intrusive questions on it when he switched doctors. One of the questions was whether he/she was concerned about unsecured weapons in the home. Another asked whether he/she was "in a relationship in which you have been physically hurt or are you afraid of your partner?" Judge Andrew Napolitano explained that the question about guns comes out of a post-Sandy Hook executive order by President Obama, but it will be required under Obamacare. Varney expressed amazement
|
| |
|
Democratic Senator uses Okla.
tornado for anti-GOP rant
over global warming
|
|
Daily Caller, by Jeff Poor
Original Article
|
|
Posted By: bamapreacher- 5/20/2013 8:20:54 PM
Post Reply
|
|
While many Americans were tuned into news coverage of the massive damage from tornadoes ravaging the state of Oklahoma, Rhode Island Democratic Sen. Sheldon Whitehouse took to the Senate floor to rail against his Republican colleagues for denying the theory of anthropogenic global warming. Whitehouse spent 15 minutes chastising GOP senators and justified his remarks by alluding to states that seek federal assistance in the wake of natural disasters. “So, you may have a question for me,” Whitehouse said. “Why do you care? Why do you, Sheldon Whitehouse, Democrat of Rhode Island, care
|
| | |
|
|
