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Judd Legum
@JuddLegum
, 4 tweets, 2 min read Read on Twitter
.@AOC has new legislation that would put the payday lending industry out of business by setting a 15% interest rate cap on consumer loans

RELATED: The payday lending industry had its annual conference this year at Trump Doral

popular.info/p/payday-party
@AOC Trump's Consumer Finance Protection Bureau (CFPB) is proposing to ROLL BACK regulations on the payday lending industry -- a move that will be worth $7.3 to $7.7 billion to the industry every year

popular.info/p/payday-party
For more FACTS about the payday lending industry, subscribe to my newsletter, Popular Information

Sign up free at popular.info
Payday loans can end of with effective annual interest rates approaching 400%
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More from @JuddLegum see all

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Judd Legum
@JuddLegum
1. These are the corporations backing Alabama's war on women:

@ATT
@exxonmobil
@pfizer
@Walmart
@Boeing
@StateFarm
@LillyPad
@CaterpillarInc
@KochIndustries
@DraftKings
@AltriaNews
@comcast
@CVSHealth
@AnheuserBusch

popular.info/p/the-corporat…
@ATT @exxonmobil @pfizer @Walmart @Boeing @StateFarm @LillyPad @CaterpillarInc @KochIndustries @DraftKings @AltriaNews @comcast @CVSHealth @AnheuserBusch All of these companies have donated to Alabama's Republican legislative leadership:

Speaker Mac McCutcheon
Majority Leader Nathaniel Ledbetter Senate President Will Ainsworth
Majority Leader Greg Reed
Bill sponsor Clyde Chambliss

popular.info/p/the-corporat…
3. The same companies present themselves in public as champions of gender equality.

Coca-Cola CEO Muhtar Kent promotes himself as a feminist dedicated to empowering women

At the same time, he's funneling money to politicians attacking women's rights

popular.info/p/the-corporat…
Read 6 tweets
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Judd Legum
@JuddLegum
Can independent accountability journalism provide value for readers?

Here's what popular.info has delivered to readers just this month.
1. An investigative report on how Facebook and Google are allowing the Trump campaign to run blatantly false advertisements in violation of their own rules

popular.info/p/trump-ad-con…
2. An expose on The Epoch Times, a secretive publication linked to Falun Gong, which is spending hundreds of thousands of dollars promoting pro-Trump videos on Facebook popular.info/p/the-epoch-of…
Read 7 tweets
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Judd Legum
@JuddLegum
1. How does 8chan, a racist message board linked to the gun massacres in New Zealand and Pittsburgh, generate enough cash to operate?

Let's follow the money.

popular.info/p/exclusive-ho…
2. 8chan is owned by Jim Watkins, a pig farmer in the Philippines. Watkins avoids a lot of the problems other racist sites run into by providing most of 8chan's services, including domain hosting, through his own company, NT Technology.

popular.info/p/exclusive-ho…
3. But it's still expensive to run a website. You need to pay for servers, bandwidth, and staff. So Watkins needs an outside source of cash.

So he operates a number of other websites through NT Technologies.

popular.info/p/exclusive-ho…
Read 9 tweets

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Chowkidhaar தீவிரகாவிவாதி
@autovimal1
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Dear Indian Voter - Why should You vote for Narendra Modi in 2019?
Here are 200 reasons:
1. Fragile five to fastest growing economy - India
2. 11th largest to 5th largest economy – India
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Chowkidar Rajasekar Jayaraj 🇮🇳
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#Modi200NotOut

I am starting this thread on NDA achievements in the last 5 years.

These are the reasons why NDA will be back in power with 400+ Seats and i strongly believe in it.

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1. Fragile five to Fastest growing economy - India

2/201
2. 11th largest to 5th largest economy - India
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Dinakar
@pdinakar
Dear Indian Voter - Why should You vote for @narendramodi in 2019 ?

Here are 200 reasons :

1. Fragile five to Fastest growing economy - India

2. 11th largest to 5th largest economy - India

3. Share of world GDP from 2.43% in 2014 to 3.08% in 2018
4. Average GDP 7.3% against 6.7% in previous regime

5. Forex reserves from 300 bn USD in 2014 to 420 bn USD in 2018

6. Doubling of FDI inflow from 36 bn USD in 2014 to 66 billion USD in 2018

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Ugo Obi-Chukwu
@ugodre
Hello everyone, welcome to @Nairametrics Corporate News Roundup for the week ended December 1, 2018. This roundup is brought to you by @BluechipTechNG

Thread Starts here.
As usual, kindly retweet the first tweet of this thread so others on your timeline do not miss out. Also feel free to retweet or comment on any of the tweets published in this roundup.

We begin....
1/ Industry sources inform Nairametrics that Nigerian deposit money banks (DMB) are nervous about the impending entry of telco giant, MTN into the payment space.
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Michael Kimani
@pesa_africa
Interesting chart

Thing is, Banks artificially suppressed loan approvals after interest rate cap law in Aug 2016 only to come back 2 years later and pull out this data as proof that interest rate caps are bad for the economy 1/
Im not in favor of interest rate caps. I believe lending rates should be left to the market.

But i am in favor of increasing lending alternatives in the market to lower the cost of borrowing via competition 2/
So how do we minimize bank monopoly ?

1. Find new avenues of lending capital, stimulate existing ones - offshore, crypto, chamas/group savings crowdfunding, p2p, Fintechs

Lending capital from other sources besides banks lowers their influence, add more alternatives
Read 9 tweets
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Christopher Peterson
@PetersonLawProf
Late Friday @USOCC sneaked out a profoundly troubling one-page order on bank sponsorship of payday loans. The Trump admin is rescinding a 2002 restriction on #RentABank partnerships with the notorious payday lender @ACECash. Reactions in this thread: occ.gov/static/enforce…
1/ Throughout most of American history nearly every state had state interest rate caps prohibiting payday loans. In 1978 the Supreme Court controversially held the state interest rate cap of a bank’s home state applies when the bank “export’s” its loans across state lines.
2/ This decision sparked a race to the bottom in credit card lending where SD, DE, and UT eliminated their usury laws to attract banking jobs. Now, state usury limits effectively no longer apply to banks. But state usury laws DO apply to payday loan companies.
Read 13 tweets

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