Ask the average person about her smartphone, and the odds are better than even that she’ll be able to recite the make, model, and salient features such as battery life and camera quality. She may even be in a position to rank the phone relative to other handsets and to make a recommendation as to … Continue reading Do Financial Regulations Decrease Financial Literacy?
The Consumer Financial Protection Bureau’s (CFPB) payday lending rule goes into effect next week. The rule has two parts: Payday lenders must “reasonably determine” the borrower’s ability to repay the loan. This includes taking the borrower’s credit history and spending habits into account when making a loan. Payday lenders cannot attempt to withdraw payment from … Continue reading New Payday Loan Rules: Well-Intentioned With Heavy Baggage
In case you didn’t know, we surpassed the $20 trillion mark in debt. Like many recent college grads or new homeowners, the United States has piled on more debt than what it brings in every year. In fact, the government debt is larger than the amount of goods and services we produce in a year! … Continue reading Slow-Boiled By Good Intentions
Getting the job can be tough, but it's hard to pin the blame solely on the university.
As payday lenders and check-cashing stores continue to feel the wrath of government regulation, it’s important to understand why they exist in the first place. On March 7, Prop S was added to the municipal primaries ballot, seeking to punish evil payday lenders in St. Louis by imposing a meager $5,000 annual fee for new and … Continue reading Payday Loans Filling the Void