The Forever Debt: Payday Loans & Predatory Lending | deep dive$

The Forever Debt: Payday Loans & Predatory Lending | deep dive$

'Searchers were able to locate the body due to Lebda’s dog barking near the scenery in which the scene took place. The Polk County Sheriff’s office is currently listing the pet as a “labradoodle of interest” pending release of any accident policies he may have taken out on KillYourMaster.Com.'
@JimEarl's mocking obituary of insurance & fintech mogul Doug Lebda
https://jimearl.substack.com/p/doug-lebda-lendingtree-ceo
#LendingTree #finance #predatoryLending #USpol #capitalism #humour #politicalHumour
Predatory Lending: Last Week Tonight with John Oliver (HBO)
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
The Banksters are freaking out.
Every day this week I’ve received an email from Citibank encouraging me to take a cash advance on the credit cards I have with them that I don’t use because the interest rate is ridiculous.
I keep the credit cards I don’t use frozen because Discover card has shown me that if someone is able to get my credit card numbers and use them I will have to pay, so I will not fuck around and find out.
And instead of silently allowing me to use this security feature that they’ve advertised to me to protect myself with I get emails once a week reminding me that I have frozen my cards and telling me that if I’ve lost it I should go ahead and get a new card number so I can unfreeze that card.
NO THANK YOU SKANKS, NOT TODAY CAPITALISM, YOU WILL NOT GET ME TODAY!!
This recession is going to be so interesting. During the last recession credit cards were canceling peoples credit lines because they were afraid they would use them and then not pay, but during this recession they’re trying to talk us into using credit lines we won’t be able to pay for?
This is going to be so interesting. It makes me think they think the #bankruptcy laws will be changing. Why else would they want my disabled ass to take loans on these cards? They know my income. I don’t lie about my income to them because I’m not down with being accused of credit card fraud should I need to do a BK someday.
WHAT IS HAPPENING???
#CapitalismIsAScam #CreditCardDebt #PredatoryLending #banksters
One of the loudest advocacy voices in this case has been NACA (aka the Neighborhood Assistance Corporation of America), which claims to have coined the term "predatory lending". Given NACA's history, I was surprised they don't have a #Wikipedia page (although one has been created and deleted several times over the last couple of decades).
https://www.naca.com/campaigns-history/
https://www.naca.com/naca-stands-against-predatory-lending-stop-bluehubs-bailout-legislation/
Via today's Act on Mass newsletter, I learned that the $4 billion economic development bill contained a section which would shield "foreclosure rescue" shared-appreciation mortgage lenders from liability for predatory lending practices and lack of disclosure in their agreements. It seems designed to inoculate BlueHub Capital from a pending class-action lawsuit. Despite outcry from advocacy organizations, Governor Healey left this intact when she signed the omnibus jobs bill last week. BlueHub's CEO has been one of Healey's biggest donors and fundraisers. A bad look.
https://www.wgbh.org/news/politics/2024-11-20/healey-signs-4-billion-jobs-bill
#MApoli #PredatoryLending #ConsumerProtection #MauraHealey #BlueHub #Massachusetts
A #Wisconsin #NativeAmerican Tribe Built a #Lending Empire Charging 600% Annual Rates
The #LacDuFlambeau [#LDF] tribe is at the center of a $1B #ClassAction settlement that comes after yrs of fending off claims of #PredatoryLending practices.
In #bankruptcy filings & #consumer complaints, thousands of people across the country make pleas for relief from high-interest #loans w/punishing annual rates that often exceed 600%
#Regulation #SovereignImmunity #opportunism #law
https://www.propublica.org/article/wisconsin-lac-du-flambeau-tribe-predatory-lending-lawsuit-sovereign-immunity