cal04
cal04's JournalA Few of Your Friends Are Feeling Bernie (video)
Published on Apr 8, 2016
For more info on how to vote, visit: www.voteforbernie.org
Justin Bartha, Harry Belafonte, Alan Cumming, Miley Cyrus, Rosario Dawson, Eliza Dushku, Josh Fox, Gaby Hoffmann, Damian Kulash, Zoë Kravitz, Sean Lennon, Justin Long, Graham Nash, Amanda Palmer,
Connor Paolo, Charlotte Ronson, Shaun Ross, Mark Ruffalo, Kendrick Sampson, Susan Sarandon, Michael Stipe, Kristen Wiig, Shailene Woodley
Senators introduce Safe Lending Act to Protect Consumers (Payday Lending)
SENATORS INTRODUCE SAFE LENDING ACT TO PROTECT CONSUMERS FROM PREDATORY PRACTICES IN PAYDAY LENDING
Today, Oregon’s Senator Jeff Merkley and Senators Tom Udall (D-NM), Bernie Sanders (I-VT), Patty Murray (D-WA), Dick Durbin (D-IL), Richard Blumenthal (D-CT), Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Edward J. Markey (D-MA), Ron Wyden (D-OR), and Cory Booker (D-NJ) introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act. The SAFE Lending Act would crack down on some of the worst abuses of the payday lending industry, particularly in online payday lending, and protect consumers from deceptive and predatory practices that strip wealth from working families.
In recent years, many states have put in place tough laws to stop abusive lending. However, payday lending remains a problem online, with internet sites operating both within the U.S. and offshore, subverting existing consumer laws. Internet lenders hide behind layers of anonymously registered websites and “lead generators” to evade enforcement. Even when the lending violates the law, abusive payday lenders can empty consumers’ bank account before they have a chance to assert their rights. Payday lenders with access to consumers’ bank accounts are also issuing the money from loans on prepaid cards that include steep overdraft fees. When these cards are overdrawn, the payday lender then can reach into the consumer’s bank account and charge the overdraft fee, piling on further debts.
“Payday lenders’ innovation in finding new ways to gouge vulnerable families is deplorable but, sadly, all too predictable,” said Merkley. “In a rapidly evolving market, it’s critical that our laws and regulations keep up with new and predatory threats to consumers’ pocketbooks. It’s up to us to help keep working families from being caught in a vortex of debt, and I encourage both Congress and the Consumer Financial Protection Bureau to block unscrupulous lenders from preying on hardworking families.”
(snip)
The SAFE Lending Act of 2016 puts in place three major principles to make the consumer lending marketplace safer and more secure:
Ensure That Consumers Have Control of their Own Bank Accounts
1.Ensure that a third party can’t gain control of a consumer’s account through remotely created checks (RCCs) – checks from a consumer’s bank account created by third parties. To prevent unauthorized RCCs, consumers would be able to preauthorize exactly who can create an RCC on his or her behalf, such as when traveling.
Allow consumers to cancel an automatic withdrawal in connection with a small-dollar loan. This would prevent an Internet payday lender from stripping a checking account without a consumer being able to stop it.
2.Allow Consumers to Regain Control of their Money and Increase Transparency
Require all lenders, including banks, to abide by state rules for the small-dollar, payday-like loans they may offer customers in a state. Many individual states currently have much tougher laws than the federal government. There is currently no federal cap on interest or limit on the number of times a loan can be rolled over.
Increase transparency and create a better understanding of the small-dollar loan industry by requiring payday lenders to register with the Consumer Financial Protection Bureau.
Ban overdraft fees on prepaid cards issued by payday lenders who use them to gain access to consumers’ funds and to add to the already exorbitant costs of payday loans.
Require the CFPB to monitor any other fees associated with payday prepaid cards and issue a rule banning any other predatory fees on prepaid cards.
3.Ban Lead Generators and Anonymous Payday Lending
Some websites describe themselves as payday lenders but are actually “lead generators” that collect applications and auction them to payday lenders and others. This practice is rife with abuse and has even led to fraudulent debt collection.
The SAFE Lending Act bans lead generators and anonymously registered websites in payday lending.
rest at link
https://www.merkley.senate.gov/news/press-releases/senators-introduce-safe-lending-act-to-protect-consumers-from-predatory-practices-in-payday-lending?utm_source=tw&utm_medium=social&utm_campaign=SAFE-Act
Too Big to Fail is Too Big to Exist
No single financial institution should have holdings so extensive that its failure could send the world economy into crisis. If a bank is too big to fail, it is too big to exist.
Democrats Block SEC Nominees
Source: US News
Opposition from top Senate Democrats has stalled two of the president's nominees to the Securities and Exchange Commission.
Opposition from top Senate Democrats Thursday stalled two of the president's nominees to the Securities and Exchange Commission over whether the nominees support requiring publicly-traded corporations to disclose political spending.
Nominees Lisa Fairfax, a Democrat, and Hester Peirce, a Republican, had waffled on the issue. Democratic Sens. Charles Schumer of New York and Elizabeth Warren of Massachusetts were among four Senate Banking Committee Democrats opposing the nominees, which led Banking Committee Chairman Richard Shelby, R-Ala., to postpone a vote that had been set for Thursday.
Schumer said both nominees are "fence-sitting" on whether to force corporations like Koch Industries to reveal their political giving. Republicans succeeded in blocking the proposal through in last year's catch-all spending bill.
Read more: http://www.usnews.com/news/business/articles/2016-04-07/democrats-block-sec-nominees-over-political-money-fight
Schumer, Warren oppose Democrat pick to join SEC
http://www.marketwatch.com/story/schumer-warren-oppose-democrat-pick-to-join-sec-2016-04-07
(snip)
At least four Democrats on the committee said they would vote against Fairfax: Sen. Charles Schumer of New York, Sen. Robert Menendez of New Jersey, Sen. Jeff Merkley of Oregon and Sen. Elizabeth Warren of Massachusetts. A fifth senator, Republican Tim Scott of South Carolina, also said he opposed her nomination.
Sen. Sanders in Philadelphia pics
Gloves are officially off. @BernieSanders responds to Clinton, detailing why she is not qualified to be president.
fills a separate basketball practice arena as his overflow at Temple University.
And for perspective here is @BernieSanders' ACTUAL rally space in Philadelphia. Filling to the top of the arena.
https://twitter.com/DannyEFreeman
https://twitter.com/maryaliceparks
BernieSanders in Philly responds to Clinton, lists Iraq vote, super PAC $ - says makes HER not qualified for job
Bernie Live in Wyoming
http://abcnews.go.com/live?stream=1Presidential Candidate Bernie Sanders (D) Holds Campaign Rally in Laramie, WY
Sen.Sanders Accepts Invitation to New York Debate
U.S. Sen. Bernie Sanders on Monday accepted an invitation from CNN to debate Hillary Clinton in Brooklyn on April 14 before the New York Democratic Party primary election.
“Sen. Sanders has accepted another invitation to debate Hillary Clinton in New York. We are glad that she finally has agreed,” said Michael Briggs, Sanders’ spokesman. “Sanders all along has pressed for a debate on television in prime time so the greatest number of New Yorkers and Americans may listen to the candidates and decide for themselves who has the best ideas about how to reform our rigged economy and the corrupt campaign finance system. It’s great for the people of New York that there will be a debate in Brooklyn, something that the Clinton campaign has long opposed.
“Fortunately, we were able to move a major New York City rally scheduled for April 14 to the night before. We hope the debate will be worth the inconvenience for thousands of New Yorkers who were planning to attend our rally on Thursday but will have to change their schedules to accommodate Secretary Clinton’s jam-packed, high-dollar, coast-to-coast schedule of fundraisers all over the country.”
CNN invited Sanders and Clinton to the debate ahead of New York’s April 19 Democratic Party primary election.
Sanders previously accepted NBC’s invitation to a prime-time debate next Sunday but that date conflicted with Clinton’s heavy schedule of high-dollar fundraisers, including one on that date in Virginia.
Both the Sanders and Clinton campaigns agreed last January to hold an additional debate in April and another in May.
Sanders was in Wisconsin on Monday appearing at rallies in Milwaukee, Green Bay and Janesville ahead of Tuesday’s primary.
https://berniesanders.com/press-release/sanders-accepts-invitation-new-york-debate/
A Finished Bernie Mural in Williamsburg/Greenpoint Brooklyn
https://twitter.com/sanderswillwin/status/716789229578280960
Join Bernie Sanders for a GOTV Rally in Milwaukee, Wisconsin
https://go.berniesanders.com/page/event/detail/rally/44zbmA Future to Believe In GOTV Rally in Milwaukee featuring The Summer Set, 3OH!3 and Space Raft on 4/4
Join Bernie Sanders for a GOTV Rally in Milwaukee, Wisconsin featuring Mehcad Brooks, Tessa Thompson, and musical acts The Summer Set, 3OH!3 and Space Raft
This event is free and open to the public. Tickets are not required, but RSVPs are strongly encouraged. Admission is first come, first served.
For security reasons, please do not bring bags and limit what you bring to small, personal items like keys and cell phones. Weapons, sharp objects, chairs, and signs or banners on sticks will not be allowed through security. Parking available on-site for a fee. Guests will be directed to parking.
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