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FORMER PAYDAY LENDER CONFESSES THE SECRETS OF THE INDUSTRY
- A man who used to own as many as 40 payday lending stores in Michigan has changed his tune and is now calling himself a “consumer and anti-predatory lending activist” is sharing many of the details of how the industry works and why it makes so much money. The article also details all the steps the payday lending industry has taken to fight the Consumer Financial Protection Bureau and its regulation of the industry. The industry, for example, spent more than $7 million on lobbying before the CFPB even came into existence, and has not stopped spending since. The man talks about his work at trying to get a state law passed and the hatred that he harbored when the effort failed.
Pa. SCHOOL DISTRICT HIRES COLLECTION AGENCY TO RECOVER UNPAID LUNCH FEES
- A school district in Pennsylvania is moving forward with a collection agency, JP Harris Associates, to help it recover money from students’ unpaid school lunches. Families will get a letter and then get a knock on the door from the district when trying to collect. Students with a high number of unpaid lunches will be barred from participating in extracurricular activities, or marching in graduation ceremonies.
SIT-IN FORCES HOUSE INTO RECESS; NO MOVEMENT ON MANY BILLS, INCLUDING CHANGES TO CFPB
- A sit-in by House Democrats forced Speaker Paul Ryan to call a recess until after the July 4 holiday, delaying votes on a number of key issues, including bills that would affect the Consumer Financial Protection Bureau. The Speaker tried to schedule the votes for 2:30am this morning, but the sit-in continued and Democrats vowed to continue the protest even after the recess was called. Democrats are trying to force a vote on gun-control bills and have turned to the sit-in as a means of forcing the measures to come to a vote. Meanwhile, a trade group representing credit unions has submitted a letter to the House of Representatives, urging them to vote in favor of a bill that would change the structure at the top of the CFPB to a five-person bipartisan commission instead of one executive director.
WORTH NOTING: The Prime Minister of Great Britain is stepping down after voters in the UK yesterday moved to withdraw from the European Union … CNN has hired the campaign manager who was fired by Donald Trump earlier this week … An interesting story on what baseball can really teach kids … The one thing a boss should never say when delivering bad news … To recruit talented people, watch how Gregg Popovich, coach of the San Antonio Spurs, does it … 11 tricks to turn you into a Microsoft Excel ninja … A Supreme Court ruling could cost Silicon Valley 200,000 jobs in the next 10 years … Barnes & Noble is opening stores that will sell beer and wine … Volkswagen will pay drivers billions as a result of its emission scandal … Six ways to stay productive after 3pm.
Political correctness is just censorship in disguise
A reporter goes undercover as a prison guard
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
