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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...
...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...
...Johnson, of the Roosevelt Institute, says the single most important reform would be to force unregulated financial products, such as credit-default swaps (CDSs) and collateralized-debt obligations (CDOs), onto government-watched public exchanges. CDS contracts are widely blamed for the demise of insurer AIG. Johnson says that making the CDS, CDO and other markets like them more transparent would limit the ability of financial executives to take the extreme risks that can cause their firms to fail when markets go awry...
...Geneva to discuss whether the policy should be rolled out through its various agency programs. According to the team behind the Science study, however, that could prove disastrous. "Test and treat has been designed based on overly simplistic modeling. It is misguided and could lead to very serious public-health problems in resource-constrained countries," Blower says. (See 10 players in health care reform...
...Foursquare is one of many ways to drive discovering connections among students, faculty and visitors. It is one of many routes to help individuals experience and discover Harvard’s rich history,” said Perry Hewitt, the director of digital communications and communications services for Harvard Public Affairs and Communications...