Sometimes, believe it or not, topping a 300 annual rate. The goal, it says, is to protect consumers from risky financial products. The industry is bigger than many think. Its market size, 39 billion in revenues. According to pew research, about 12 million americans use payday loans every year. There are some 20,000 payday lending outlets nationwide. Even though the practice is banned in 14 states. Thats more than the number of mcdonalds, which is seemingly everywhere, with 14,000 restaurants in the u. S. Heres eamon javers with a look at the proposed rules. Reporter in kansas city, missouri, today the Consumer Financial Protection Bureau announced proposed new rules designed to keep people from getting trapped in a spiral of debt from unpaid payday loans. The bureaus director said the move was designed to protect oftenvulnerable borrowers from what can be painfully high Interest Rates. The very economics of the payday lending Business Model depend on a substantial number of their custo
High Interest Rates. Sometimes, believe it or not, topping a 300 annual rate. The goal, it says, is to protect consumers from risky financial products. The industry is bigger than many think. Its market size, 39 billion in revenues. According to pew research, about 12 million americans use payday loans every year. There are some 20,000 payday lending outlets nationwide. Even though the practice is banned in 14 states. Thats more than the number of mcdonalds, which is seemingly everywhere, with 14,000 restaurants in the u. S. Heres eamon javers with a look at the proposed rules. Reporter in kansas city, missouri, today the Consumer Financial Protection Bureau announced proposed new rules designed to keep people from getting trapped in a spiral of debt from unpaid payday loans. The bureaus director said the move was designed to protect oftenvulnerable borrowers from what can be painfully high Interest Rates. The very economics of the payday lending Business Model depend on a substantial
Nightly news begins right now. This is nbc nightly news with lester hold reporting from the Democratic National convention in philadelphia. Good evening, oon the eve of their Big Convention shs the Democratic Party has been rocked by a bomb shell tonight. The head of the Democratic National Committee Debbie Wasserman Schultz resigning under fire all in the face of an uproar over a batch of emails. Those emails are breathing new life into lingering tensions for the Bernie Sanders Hillary Clinton primary battle. Tonight the turmoil is rapidly eroding the unity that democrats were hoping to project this week. Andrea mitchell has late details for us. Reporter tonight protesters of every type converging on philadelphia. Bernie sanders supporters not ready for Hillary Clinton. It depends on if she change hearse perspective. Reporter and now the Party Shakeup to win over supporters. Debbi wasserman shults will not preside over the convention and resign her post when its over. She had just app
Nightly news begins right now. This is nbc nightly news with lester hold reporting from the Democratic National convention in philadelphia. Good evening, oon the eve of their Big Convention shs the Democratic Party has been rocked by a bomb shell tonight. The head of the Democratic National Committee Debbie Wasserman Schultz resigning under fire all in the face of an uproar over a batch of emails. Those emails are breathing new life into lingering tensions for the Bernie Sanders Hillary Clinton primary battle. Tonight the turmoil is rapidly eroding the unity that democrats were hoping to project this week. Andrea mitchell has late details for us. Reporter tonight protesters of every type converging on philadelphia. Bernie sanders supporters not ready for Hillary Clinton. It depends on if she change hearse persiv win over supporters. Debbi wasserman shults will not preside over the convention and resign her post when its over. She had just appeared on saturday in miami. But shes out aft
Place leading the way down today. Oliver im going to start with that. To emerge,lear story losses in utilities and telecommunications stocks. Groups that had supported the market for so long. When the expectation for rate hikes are not changing too much, we saw a bump up in next break, but not a huge amount. Look at the health care sector, only for stocks in the index were of, many losing 2 . Oil versus the energy stock index, a bit of diversions. Of divergence. Two haveee where the separated, a big jump in oil today, not quite as big in the energy stocks, pretty flat despite the gains. On the Government Bond market front, the spread to between the twoyear and the 10 year, dropping a little bit. Some interesting stuff with that print,y weaker cpi causing some flattening, then the feds dudley came out and said a september rate hike is still on the table. Dip was the key event of the day. Scarlet the yen strengthening past 100 for the first time brexit. Agg said as joe mentioned, lots of