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City Council Will Likely Ban Practice Of Running Credit Checks On Job Applicants
New York is poised to become one of a handful of places in which it’s illegal for employers to review job-seekers’ credit history, pending a vote in the City Council today. If passed, the bill would not only end the … Continue reading
Posted in News from the Soul Brother
Tagged credit, debt, employment, jobs, New York, United States
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Debt Collection ‘Factory’ Preyed On Broke Americans: Lawsuit
By Hunter Stuart A federal watchdog is suing a collection agency that allegedly operated like a “factory” churning out lawsuits against cash-strapped borrowers, often using misleading, deceptive and illegal practices. The suit is the latest effort by regulators to crack … Continue reading
4 debt collection practices that need to change
By Gerri Detweiler Major changes may be coming to the debt collection industry. The Consumer Financial Protection Bureau (CFPB) published an announcement asking for comments on issues facing consumers and the industry, while it prepares to develop new rules around … Continue reading
The truth behind 9 debt myths
By Dana Dratch That free advice you get from friends, co-workers or the “charming” bill collector on the phone could be worth even less that what you paid for it.From the perils of acknowledging old debts to the odds of … Continue reading
Podcast: How a $1,000 Loan Ballooned into a $40,000 Debt
By Minhee Cho When Naya Burks was strapped for cash five years ago, she borrowed $1,000 from AmeriCash Loans at an enormously high annual interest rate of 240 percent. It wasn’t long before she defaulted on payments and AmeriCash took … Continue reading
Posted in News from the Soul Brother
Tagged AmeriCash, debt, loan, Missouri, National Consumer Law Center, Payday loan
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When Lenders Sue, Quick Cash Can Turn Into a Lifetime of Debt
By Paul Kiel A version of this story will be published in the St. Louis Post-Dispatch on Sunday. Five years ago, Naya Burks of St. Louis borrowed $1,000 from AmeriCash Loans. The money came at a steep price: She had … Continue reading
Posted in News from the Soul Brother
Tagged debt, loan, Missouri, money, National Consumer Law Center, Payday loan
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6 Things Debt Collectors Can and Can’t Do
By Sheiresa Ngo This week, the Consumer Financial Protection Bureau released its annual report outlining how it has worked to enforce the Fair Debt Collection Practices Act. Their activities have included efforts to make it easier for consumers to file … Continue reading
Did You Know the Deficit Is Shrinking? Most Americans Don’t, Thanks to Shameless Deficit Hawk Propaganda
By Lynn Stuart Parramore Remember all those deficit hawks who screamed that the federal deficit is spiraling out of control and must be stopped with spending cuts that have a funny way of hurting the pocketbooks of the most vulnerable Americans? … Continue reading
Detroit goes bankrupt, largest municipal filing in U.S. history
By Michael A. Fletcher Detroit filed the largest municipal bankruptcy in the nation’s history Thursday afternoon, capping a long decline that left the nation’s automaking capital bleeding residents and revenue, while rendering city services a mess. The nation’s fourth-largest city … Continue reading
Posted in News from the Soul Brother
Tagged $19 billion, bankruptcy, debt, Detroit, Michigan, Rick Snyder, United States
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A crisis for the very old: They’re outliving their assets
By Michael Hiltzik As if you haven’t been scared enough by the projections that most Americans haven’t saved enough to maintain their lifestyles as they enter retirement, here’s something even more terrifying: Nearly half of all Americans will outlive their … Continue reading
Posted in News from the Soul Brother
Tagged AARP, Aspen Institute, Credit card, Credit card debt, debt, economy, elderly, Michael Hiltzik, Net worth, United States
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