Predatory lending

(Image is in the Public Domain)

All I can say is "good". There needs to be consequences for companies that manipulate people for greed.

(Image used under: Creative Commons 2.5 [SRC])

This is about as clear as anyone has described the subprime mortgage lending issue so far.

(Image used under: Creative Commons 3.0 [SRC])

If you've been on college campuses these days, you'll often see the booths where you get a free shirt or coffee mug for signing up for a credit card. Well, it's pretty obvious that college kids have no idea how to handle credit and the credit card companies know it.

Rhoades took the job and signed up roughly 30 students for cards. He regrets any trouble he caused other students from his actions. Still, his actions may have been most damaging to himself. He ended up with $13,000 worth of debt that he is now struggling to repay.

We don't get any training how to deal with and manage credit, but we get plenty of training on how to get and abuse it.

It turns out that West Virginia has kicked out these sleazebag lendors. Now if every other state would follow their example, we'd have something.

Lending shouldn't be predatory

(Image is in the Public Domain)

According to Public Citizen, the DoD has proposed some rules that severely limited the scope of protections as suggested by consumer protection groups. Up to June 11th, you can submit your ideas about the proposal to them directly (information about sending in the comments is on the last page of the proposal).