the latest and greatest from Marc Andreessen’s #a16z is #Coverd, an app to let you gamble on your child support payments and #OnlyFans bill.

no, really. and they’re also launching a credit card which promises 100% cash back or something? this is truly the “american dynamism” we were promised.

#broligarchy #nerdreich #uspol #finance #economics #MarcAndreessen #crypto #predatoryLending #paydaylenders

new director of the Consumer Financial Protection Bureau (#CFPB) making an official public statement in favor of #SoLoFunds, a peer to peer payday lender that operated w/out a license and connected desperately poor people to loans charging 2,000% interest.

https://x.com/russvought/status/1893732780527276236

#RussVought #CFPB #OMB #MAGA #DOGE #uspol #paydaylenders #PaydayLending #usury #fintech

Russ Vought (@russvought) on X

Over the last four years, many working class Americans with limited means faced unexpected medical bills, auto repairs & higher grocery bills. One company set up an innovative solution by creating a platform to allow borrowers & lenders to connect for loans at no interest, with

X (formerly Twitter)

Cleanup and construction businesses are experiencing a boom, but the GDP growth is paid for by people who can least afford to do so:

"Other surprising beneficiaries of a warming planet are #PaydayLenders. Climate events cause significant short-term, high-cost spending that aren’t included in the budgets of most Americans."

(Which is yet another reminder that GDP is not a good benchmark for a nation's wellbeing).

https://www.bloomberg.com/news/articles/2023-10-04/climate-destruction-fuels-a-growing-sector-of-the-us-economy

Climate Destruction Fuels a Growing Sector of the US Economy

Spending tied to the consequences of global warming has made up 32% of America’s GDP growth since 2016.

Bloomberg
#PaydayLenders Gave Millions to #GOP Group That Backed #SupremeCourt Suit to Annihilate #CFPB, this case that could lead to the elimination CFPB
The #Republican #AttorneysGeneral Association (#RAGA) fought to help a Supreme Court case against the Consumer Finance Protection Bureau. Despite widespread approval among Republican voters to regulate or prohibit #paydaylending, Republican officials in more than 20 states are backing industry groups in the #lawsuit.
https://theintercept.com/2023/08/30/payday-lenders-supreme-court-cfpb-republicans/
Payday Lenders Gave Millions to Republican Group That Backed Supreme Court Suit to Annihilate CFPB

The Republican Attorneys General Association fought to help a Supreme Court case against the Consumer Finance Protection Bureau.

The Intercept

Many of us are privileged to borrow money by walking into a bank and asking for a loan, but millions of Americans are denied that genteel experience.

Instead, working Americans increasingly rely on #PaydayLenders and other usurers who charge sky-high interest rates, on top of penalties and fees, trapping borrowers in an endless cycle of indebtedness. This is an historical sign of a civilization in decline: productive workers require loans to engage in useful activities.

7/

Trump's "consumer protection bureau" will let the $50B payday lending industry gouge the poorest Americans with triple-digit interest rates https://boingboing.net/2018/01/19/debt-traps.html #afoxforeveryhenhouse #agatorforeveryswamp #regulatorycapture #guillotinewatch #paydaylenders #mickmulvaney #1000%apr #classwar #picketty #trumpism #finance #graeber #usury #Post #cfpb #debt
Trump's "consumer protection bureau" will let the $50B payday lending industry gouge the poorest Americans with triple-digit interest rates

Trump's "consumer protection bureau" will let the $50B payday lending industry gouge the poorest Americans with triple-digit interest rates

Boing Boing
Senate Democrat is about to take the brakes off predatory payday lenders https://boingboing.net/2017/11/15/s-1642.html #TheProtectingConsumers'AccesstoCreditActof2017 #paydaylenders #Democrats #Business #classwar #fintech #usury #Post
Senate Democrat is about to take the brakes off predatory payday lenders

Senate Democrat is about to take the brakes off predatory payday lenders

Boing Boing