News University | Today's most popular courses on NewsU, Poynter's e-learning site for journalists. |
| |
Webinars | Our online classroom is just a click away. Learn more. | |
|
|
 
Romenesko
Latest News
Reporting
& Writing
Ethics &
Diversity
Leadership
& Business
Visual
Journalism
Online &
Technology
TV &
Radio
Journalism
Education
|
Article Feedback
View all Al's Morning Meeting feedback
Friday Edition: Pentagon Blasts Payday Loans
(Read the Article)
Post Feedback |
Feedback Guidelines |
Report Feedback Abuse
Page 1 of 1
Bah!
Posted by
Chrissy Coleman
9/15/2006 11:03:59 AM
It saddens me that the government is finally recognizing predatory lending for what it is, given that it's ravaged many areas of country for seve...
It saddens me that the government is finally recognizing predatory lending for what it is, given that it's ravaged many areas of country for several years now. Many of the lenders are owned and operated by larger banks who are take advantage of the last group of people in the world who need to be paying those kind of interest rates. It hurts communities. Suddenly now that it's beginning to affect the military's balance sheets, predatory lending is now a great social evil. From one banking brnach to another, the military just does not want to pay the banking branch collections and interest fees on defaulted loans. Taken to scale, let's see the average mortgage with a 900% payback, or how about credit cards with a 900% interest rate for corporate travelers? The poor and low-income sets should not be thought of as another market in business; "Sub-prime" is "sub-human." Stronger legislation against greed needs to be created and executed. Some lower end sections of cities don't have banks--they have these "lenders." It's wrong.
Page 1 of 1
View all Al's Morning Meeting feedback
|
|
