#consumerdebt — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #consumerdebt, aggregated by home.social.
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If credit card rates are thought to be acting in a predatory manner, Congress needs to act.
~So Trump now wants to dictate credit card interest rates (by capping them all at 10%) since he is feeling political heat.
But ironically, Trump et al. have been trying to dismantle means of consumer protection (like regulation) right from the beginning of his second term.
--#MyThoughts #finance #trump #CreditCards #credit #consumers #debt #ConsumerDebt #USeconomy
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It sounds cool, but #Trump can't do this. At least not in the #USA previous to his reign.
It's like setting price controls, only for #finance . (The competitive market product is essentially the consumer debt. Loans receivable are lending company / bank assets— how they make $).
The lenders take on risk when they lend & their credit card interest rates partially reflect that risk.
But...
(continues)
#MyThoughts #finance #CreditCards #credit #consumers #debt #ConsumerDebt #USeconomy -
JPMorgan Chase Reaches a Deal to Take Over the Apple Credit Card~
Of interest:
The largest bank in the #USA is buying over $20 billion of consumer debt AT A SIGNIFICANT DISCOUNT (a rarity).
"The discount in this deal reflects a high exposure to subprime borrowers and what has been a higher-than-industry-average delinquency rate..."
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#US #finance #Apple #consumers #ConsumerDebt #debt #economics #USeconomy
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CW: Long thread/13
#5yrsago Economic indicators: #ConsumerDebt continues to grow, delinquency rises, students face “crippling debt” https://wallstreetonparade.com/2018/08/financial-health-of-u-s-consumer-will-determine-severity-of-the-next-recession/
#5yrsago A gorgeous history of the #MidCenturyModernism by #Disney’s finest illustrators of the 1950s https://memex.craphound.com/2018/08/07/a-gorgeous-history-of-the-mid-century-modernism-by-disneys-finest-illustrators-of-the-1950s/
#5yrsago What’s at stake in the fight over printing files for guns https://memex.craphound.com/2018/08/07/whats-at-stake-in-the-fight-over-printing-files-for-guns/
#5yrsago Facebook to banks: give us our users’ financial data and we’ll let them bank with Facebook https://www.wsj.com/articles/facebook-to-banks-give-us-your-data-well-give-you-our-users-1533564049
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People take on consumer debt due to an ever-increasing wage gap. Credit card companies exploit this and compound the problem with 20% APR. Once trapped in the never-ending cycle of debt, these companies use morality to shame people into ignoring bankruptcy, their only legal means of regaining financial control. This prevents large parts of the population from participating in our economic system, increasing economic fragility over time. #bankruptcy #consumerdebt #credit #economics
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So great to see so many new folks here, and more internationally diverse than who I was connected with on the bird site! I'm a co-organizer of the Law and Society Association (#LSA) household finance CRN. Do you have a paper or book about #consumerdebt, #bankruptcy, household finance that you'd like to present? Or you're coming to LSA and interested in household finance research? We'd love to have you as part of our CRN! Email me and I'll get you connected.
#law #LegalAcademia #LawAndSociety -
Not sure if I'm doing this correctly, but delighted to be part of #IrishMastodon despite living in #nyc. Some hashtags to introduce myself: #lawprof #lawprofs #lawtwitter #cardozo #bankruptcy #bankruptcies #chapter11bankruptcy #contracts #consumerdebt #carloans #finance #corporations