Posts Tagged ‘payday’

Barbara Boxer: Payday Lenders Henhouse

Posted by admin on Thursday, January 25, 2018

Barbara Boxer Money Quote saying Trump has put another enemy of an agency in charge of the (@CFPB) in order to relax regulation and eliminate restrictions intended to protect consumers. Barbara Boxer said:
 
Mick Mulvany helping payday lenders prey on borrowers Quote
 

“A fox in the henhouse does not even begin to compare. Under Mick Mulvany, Trump's Consumer Financial Protection Bureau is now helping payday lenders prey on borrowers” — Barbara Boxer

 

In this quote, Barbara Boxer is strongly criticizing actions taken under Mick Mulvaney’s leadership of the Consumer Financial Protection Bureau (CFPB). She suggests predatory payday lenders, who charge extremely high interest rates on short-term loans, are being improperly aided by the CFPB instead of reigned in to protect consumers as intended.

By comparing this situation to the proverb of “a fox in the henhouse”, Boxer implies payday lenders are being given free rein to exploit vulnerable borrowers just as a fox would prey upon defenseless chickens. She argues Mulvaney has transformed the CFPB from an agency tasked with safeguarding consumers into one that now “helps” the payday loan industry through deregulation or lax enforcement.

The overall interpretation is that Boxer believes Mulvaney’s leadership represents a corruption of the CFPB’s mission, and that predatory financial actors are being improperly empowered and shielded from oversight under his direction at the agency meant to curb abusive lending practices.

 

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Elizabeth Warren: CFPB Returned Billions

Posted by admin on Saturday, January 14, 2017

Elizabeth Warren Money Quote saying the effectiveness of the Consumer Financial Protection Bureau is indisputable in protecting consumers in debt to bad actor banks and lenders. Elizabeth Warren said:
 
[CFPB] has returned nearly $12 billion directly to families who were tricked by big banks, payday lenders, debt collectors, and other financial institutions Quote
 

“[CFPB] has returned nearly $12 billion directly to families who were tricked by big banks, payday lenders, debt collectors, and other financial institutions” — Elizabeth Warren

 

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In this quote, Elizabeth Warren is highlighting the positive impact of the Consumer Financial Protection Bureau (CFPB). Some key points:

  • She notes that through its work, the CFPB has returned $12 billion directly to consumers.
  • This money has gone back to families who were deceived or treated unfairly by large banks, payday lenders, debt collectors and other financial companies.
  • Warren’s statement emphasizes that the CFPB has provided direct financial relief and restitution to many ordinary Americans who were victims of misconduct by powerful financial institutions.
  • She appears to be touting the CFPB’s successes and the tangible benefits it has delivered for members of the public in policing consumer financial products and services.

Overall, the quote paints the CFPB in a positive light by showcasing the billions of dollars it has recovered for individuals harmed by bad actions of banks and other companies in the financial sector.

Viceland Payday: Cash Everything & Nothing

Posted by admin on Friday, November 18, 2016



 
Money makes things happen, Money is everything, but money is nothing at the same time Quote

 
@Viceland #Payday Money Quote saying money is all and none simultaneously – for those scrambling to make scraps of money out of scrap metal. @Viceland #Payday said:

Money makes things happen, Money is everything, but money is nothing at the same time — Viceland ‘Payday

 

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In this quote from Viceland’s documentary series “Payday”, the statement “Money makes things happen, Money is everything, but money is nothing at the same time” seems to capture some contradictions and complexities around the concept of money.

On one hand, it acknowledges the very real power and impact of money in enabling opportunities, influencing outcomes, and generally being a necessity of modern life (“Money makes things happen”, “Money is everything”). However, it also recognizes that money itself is merely a social construct and paper/digital currency only has meaning or value because societies have agreed to treat it as such (“money is nothing at the same time”).

Overall, the quote highlights how money can be both crucially important for survival and success yet ultimately meaningless without the social structures and relationships that imbue it with purpose and function. It conveys money’s paradoxical nature – as a force that shapes our world yet lacks intrinsic substance on its own.

Donald Trump: Would Be An Easy Payday

Posted by admin on Friday, May 27, 2016

Donald Trump Money Quote saying after agreeing to debate Bernie Sanders, he now won’t – he’s likely been talked down by the republican party. Donald Trump said:
 
It would be an easy payday — I will wait to debate the first place finisher in the Democratic Party, probably Crooked Hillary Clinton, or whoever it may be Quote
 

“As much as I want to debate Bernie Sanders — and it would be an easy payday — I will wait to debate the first place finisher in the Democratic Party, probably Crooked Hillary Clinton, or whoever it may be” — Donald Trump

 

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In this quote, Donald Trump is explaining his decision not to debate Democratic candidate Bernie Sanders, instead preferring to debate the eventual Democratic nominee. Some key points in interpreting his perspective:

  • He portrays a debate with Sanders as an “easy payday”, implying an easy victory due to perceived weaknesses of Sanders’ positions.
  • Trump’s use of the epithet “Crooked Hillary” for Clinton shows his intention to be combative and critical of his eventual opponent.
  • However, debates are an opportunity for substantive policy discussion, not personal attacks or predictions of victory, which some may feel this quote overlooks.
  • A balanced view is that candidates have discretion over debates but the public also has an interest in civil exchanges of ideas that inform voters.

Overall, while Trump wanted to project confidence, an even-handed interpretation recognizes both his perspective and the reality that debates aim to contrast visions and records for voters, not simply attack opponents or predetermine results. The quote reflects Trump’s viewpoint but not the full purpose and value of such forums for engagement.

Google: We’re Banning Payday Loan Ads

Posted by admin on Thursday, May 12, 2016

David Graff, Director Global Product Policy at Google Money Quote saying payday lending search ads are being banned as of July 16, 2016. Google said:
 
David Graff We’re banning ads for payday loans and some related products from our ads systems. We will no longer allow ads for loans where repayment is due within 60 days of the date of issue quote
 

“We’re banning ads for payday loans and some related products from our ads systems. We will no longer allow ads for loans where repayment is due within 60 days of the date of issue” — David Graff, Google

 

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In this quote, David Graff of Google is announcing a new policy regarding payday loan ads on their platforms. Payday loans are short-term, high-interest loans intended to bridge a cash flow gap until a person’s next payday.

However, they are often criticized for trapping borrowers in long-term cycles of debt due to the quick repayment timeframes. Graff says Google will no longer allow ads for loans where the full amount is due within 60 days, which would include most payday loans.

His statement implies Google views these types of short-term, high-interest loans as predatory towards financially vulnerable consumers. By banning ads for them, Graff seems to aim to curb predatory lending practices and protect people from the risks of unaffordable payday loan terms that can lead to prolonged debt cycles.

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