Word: interestion
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...bigger obstacle for pawnshop owners is legislation. The three public pawnshop companies also make so-called payday loans: short-term loans, typically seven to 30 days in length, that are not backed by merchandise. The loans typically carry interest rates of 10% to 20% for a two-week term, which translates into an annual percentage rate exceeding 300%. Industry experts say the APR is just theoretical since payday loans are meant to be very short term, lasting only until the borrower's next paycheck. Even so, a number of states, like Ohio, are imposing caps on the rates...
...industry reform. More worrisome to investors is the potential power of a Consumer Financial Protection Agency, part of the financial-reform bill recently passed by the House and under consideration in the Senate. Under the current versions of the bill, the agency would not have the power to set interest rates. But public anger with America's financial industry is rising, and that raises the possibility that extremely high interest-rate charges could ultimately be subject to federal limits...
...more interesting exchanges came when FCIC members asked the CEOs if they thought that Wall Streeters should get a portion of their compensation in the products they were selling to customers, like mortgage bonds or stocks. In late 2008, investment bank UBS instituted such a plan. The executives, however, said forcing banks and other employees to hold on to products they were selling would cause conflicts of interest and limit their ability to do business. Instead, the executives said they instituted so-called clawback provisions, which allow banks to reclaim compensation from bankers who sell products that cause the firm...
...that together, and it explains why, even before the Christmas Day incident, al-Awlaki was of such interest to the U.S. government that it tried to kill him. On Dec. 24, the Yemeni military, pressed by the CIA, fired rockets into his home south of Sana'a. Al-Awlaki was not the principal target - the top leadership of al-Qaeda in the Arabian Peninsula (AQAP) was thought to be meeting there - but U.S. officials were hoping the strike would also take out the cleric. He wasn't home...
...early 2001, al-Hazmi would follow al-Awlaki to his next mosque, the Dar al-Hijrah in Falls Church, Va. Again, al-Awlaki paired his new job with an academic interest: he began working on a doctorate at George Washington University in Washington and, for good measure, became the university's Muslim chaplain. The double life continued. As in San Diego, al-Awlaki's sermons at Dar al-Hijrah were largely uncontroversial. Indeed, he spoke out against radicals, prompting the New York Times in October 2001 to label him as one of a "new generation of Muslim leader capable...