Consumers Warned of Online Payday Loan Sites

Consumers Warned of Online Payday Loan Sites As you look at the automated ads that surround this article, keep in mind that the Consumer Federation of America (CFA) has long advised consumers to exercise extreme caution when using internet payday loan web sites, where loans due by the next payday, can cost up to $30 per $100 borrowed and borrowers typically face annual interest rates (APRs) of 650%. According to a CFA survey of one hundred Internet payday loan sites, small loans involving electronic access to consumers checking accounts pose high risks to consumers who borrow money by transmitting personal financial information via the internet. Automatically Zapping Your Bank Account Internet payday loans cost up to $30 per $100 borrowed and must be repaid or refinanced by the borrowers next payday, said Jean Ann Fox, CFAs director of consumer protection. If payday is in two weeks, a $500 loan costs $150, and $650 will be electronically withdrawn from the borrowers checking account. Many surveyed lenders automatically renew loans by electronically withdrawing the finance charge from the consumers checking account every payday. If consumers fail to have enough money on deposit to cover the finance charge or repayment, both the payday lender and the bank will impose insufficient funds fees. Where Payday Loans Lurk Online payday loans are marketed through e-mail, online search, paid ads, and referrals. Typically, a consumer fills out an online application form or faxes a completed application that requests personal information, bank account numbers, Social Security Numbers and employer information. Borrowers fax copies of a check, a recent bank statement, and signed paperwork. The loan is direct deposited into the consumers checking account and loan payment or the finance charge is electronically withdrawn on the borrowers next payday. High Cost, High Risk Internet payday loans are dangerous for cash-strapped consumers, stated Ms. Fox. They combine the high costs and collection risks of check-based payday loans with security risks of sending bank account numbers and Social Security Numbers over web links to unknown lenders. CFAs survey of 100 Internet payday loan sites showed that loans from $200 to $2,500 were available, with $500 the most frequently offered. Finance charges ranged from $10 per $100 up to $30 per $100 borrowed. The most frequent rate was $25 per $100, or 650% annual interest rate (APR) if the loan is repaid in two weeks. Typically loans are due on the borrowers next payday which can be a shorter term. Only 38 sites disclosed the annual interest rates for loans prior to customers completing the application process, while 57 sites quoted the finance charge. The most frequently posted APR was 652%, followed by 780%. Although loans are due on the borrowers next payday, many surveyed sites automatically renew the loan, withdrawing the finance charge from the borrowers bank account and extending the loan for another pay cycle. Sixty-five of the surveyed sites permit loan renewals with no reduction in principal. At some lenders, consumers have to take additional steps to actually repay the loan. After several renewals, some lenders require borrowers to reduce the loan principal with each renewal. Contracts from Internet payday lenders include a range of one-sided terms, such as mandatory arbitration clauses, agreements not to participate in class action lawsuits, and agreements not to file for bankruptcy. Some lenders require applicants to agree to keep their bank accounts open until loans are repaid. Others ask for voluntary wage assignments even in states where wage assignments are not legal. CFA advises consumers not to borrow money based on giving a post-dated paper check or electronic access to a bank account as security. Payday loans are too expensive and too hard to repay on the next payday. CFA advises consumers never to transmit bank account numbers, Social Security numbers or other personal financial information via the Internet or by fax to unknown companies. Consumers should shop for lower cost credit, comparing both the dollar finance charge and the APR to get the lowest cost credit available. For help with financial problems, CFA urges consumers to seek credit counseling help or legal assistance.

A Motivational Article for IBPS PO and IBPS Clerk Aspirants

A Motivational Article for IBPS PO and IBPS Clerk Aspirants These immortal words were penned down by the late Padma Shri awardee Shri. Sohanlal Dwivedi. The translation is simple it states that â€Å" if you keep on getting scared of the waves you will never be able to cross the sea to the other side which is full of beautiful scenes, and that the one who keeps on trying always will eventually succeed†. In order to crack IBPS PO and IBPS Clerk examinations, one needs a lot of patience and sometimes eventually has to face failure. But even in failure, one should not get demotivated but instead find the courage and keep on fighting on until you have finally cracked the exams. Some talented students are able to crack the exams in one attempt while others take a few more. The ones who have failed also are talented but it was just not their time. Hard work beats talent every time but when you start working a little hard with the little talent you have then nothing can stop you from achieving the bigger thing in life. IBPS exams are not cleared overnight, it is just like climbing a mountain. It may take months or perhaps even years to get there but eventually, when you do get there the view from above will be worth the wait. Learn to make the obstacles you face in your way your best friends as at the end of the day these obstacles will form a ladder for you that will take you places. Over 30 lakh aspirants gave exam in 2017 for Ibps PO alone and many more for Ibps clerical exam. The numbers may be demotivating at times with only a few seats to qualify these numbers do pose a bigger threat than the exam itself to some. But out of this whole basket of fruits only a few are sweet. Most of the candidates out of this 30 lakh are just following a trend to give exams because others are doing so and an estimated 10-20 % of people never even appear for exams at all. And only the last remaining few candidates are the few real competitors who are seriously willing to give it all for IBPS exams. Be passionate about what you do, Be acceptable to all the criticism you are receiving or have received in the past, Stay motivated always and last but not the least always stay focused on your goal that is to become PO officer or Clerk. Follow inspirational people from all the fields be it sports, stay updated about what’s going around and last but not the least dont try to be like other heroes but be a hero in your own rights. Surround yourself with all the positive people and more important thoughts. And when you are in trouble or some other thoughts just keep reminding yourself of the life you are going to have after clearing the exam and you will be relieved of your tensions. Brave all the difficulties in the battle of life, dont just make it the battle of talent or luck instead make it a battle fought with much patience and hard work.

Developing a Code of Conduct Essay Example | Topics and Well Written Essays - 500 words

Developing a Code of Conduct - Essay Example The Joint Commission has a mandate of ensuring that health care services provided by health care facilities are up to standards. In order for the commission to improve the quality of health care services provided to patients, it has to review the activities of health facilities to identify situations that may inhibit a health facility from providing quality medical services to patients. The Joint Commission carries out its review with reference to sentinel events and it has to ensure that it includes all required accreditation surveys as well as random unannounced surveys. The main purpose of a Sentinel Event Policy is to provide an avenue where events that occur in the organization, both in the private and public health care facilities, will be identified, reported, investigated and managed (Joint Commission Resources Inc., 2005). Health care facilities are required to work towards meeting the requirements set by Joint Commission. These requirements include: development of effective mechanisms through which sentinel events can be reported and analyzed especially events that involve patient falls, meeting patient-safety goals as well as meeting patient-safety standards. Some health care facilities, however, have not implemented most of the requirements in all areas of operation. This is seen to have huge impacts on improving communication and increasing leadership knowledge of a hospital. These hospitals are therefore not able to account for the safety of its patients. Health care facilities that do not meet the set standards or do not respond to sentinel alerts as required by the Joint Commission may face consequences such as loss of accreditation. This means that a lot of money from Medicaid programs as well as Medicare will be lost. Hospitals will lack financial resources and they will also lose their patie nts since no one would want to seek medical services from an institution that provides unsafe care to patients. A code of conduct policy is in

Representation of Racism in Gone With the Wind Essay

Representation of Racism in Gone With the Wind - Essay Example It is from media that we learn how to dress, talk and act appropriately. The impact media has on our lives is so enormous that it is necessary to learn to understand the message it’s trying to portray, the right way. Media is also a means of integrating cultural values in us. It increases a person’s power with respect to the culture and gives him an upper hand in his culture (Douglas Kellner). Cultural studies have given a lot to the criticism of media and to increase knowledge about it. The University of Birmingham Centre for Contemporary Cultural Studies has built up a number of ways to carry out critical experiments to analyze, interpret and criticize cultural pieces. After a series of struggles, the center of focus of Birmingham Centre for Contemporary Cultural Studies is class, race, gender, sexuality, ethnicity, and nationality as represented by cultural media. They study the effect of media and how different groups interpret the media differently and what was the cause of the difference in their interpretations. Cultural studies have made it easier to analyze and inspect the whole culture without having prejudices beforehand regarding some other cultural medium. Studies being conducted about Hollywood movies of mid 20th century show how they are more political rather than cultural (Douglas Kellner). A dumb blonde is one of the many common stereotypes. A blonde is by default assumed to be dumb, yet wildly attractive with a great body and she gets special treatment from men everywhere. This stereotype is highly offensive yet still holds true in almost all scenarios. The act of stereotyping is not a new one neither is the accusation of it being offensive and nor is the defensive blow that it is what the truth is. But the question is why is stereotyping an object of protest even though it is not completely false and why is it different from other simplifications and classifications (Judith Andre). Stereotyping refers to the firmness and the ina bility to change of an object (such as metallic plates, from which the word ‘stereotyping’ originates) being used metaphorically. Concerning modern era, the stereotype is taken to mean an easy oversimplified assumption, which a certain group falls under without any change. Psychologists use this term to define an unyielding personality trait in a person. Stereotyping does not take into account proofs that negate the stereotyping. Stereotypes are made because of the human mind’s resistance in face of change. Color-blind racism was the type of racism which prevailed after the civil war. Colorblind racism is making one look like he’s not racist yet his action says otherwise and having doubts about the blacks anyhow. This type of racism is based on a number of factors. After the civil war, whites had stopped discriminating the blacks directly and with their words, but they strategically used deep meaning words to express their views to discriminate the blacks. Media also helped in projecting colorblind racism and there were some other small factors as well (Eduardo Bonilla-Silva). In the modern times, when whites talk about black with respect to their race, their words are marked with doubt. T

Economic Recovery During The 1 :: essays research papers

During the 1920`s many economic problems occurred in Britain. However the main problems did not occur until 1929 when the Wall Street Crash occurred. The Wall Street Crash involved share prices falling to about 1/4 or even less than what they were bought for. This essay will examine how Britain was affected during the 1930`s and will look at the reforms introduced by the National Government. This will be done by examining four areas namely Depression, Labours Response, National Governments Response and other reasons for recovery. By examining these four areas it will hopefully become evident whether or not the reforms introduced by the National Government contributed to economic recovery. Depression was felt world wide especially in America and Britain. America was affected by the wall street crash more than other countries because many people held shares and due to prices falling were unable to pay their debts which led to financial ruin. Due to many people relying on trade from America and little money being available meant that America could not provide trade to the same extent as previous years. Britain was badly hit by depression in areas where industries such as coal, steal and shipbuilding were based. Due to demand for trade in these areas being low many of these industries had to lay off their workforce or even close down. Due to these redundancies and closures the levels of unemployment rose. Areas in Britain which were drastically affected by these closures were Clydeside, South Wales, the North East of England and Northern Ireland. During this time of high unemployment figures peaked at 3 million. This level of unemployment stayed the same for a period of t hree years. Overall it can be seen that depression occurred world wide and that full economic recovery was going to be hard to achieve. It can also be seen that it was going to take a long time to achieve full economic recovery especially in areas which relied on traditional industries. The first party to try and tackle the economic problems was the Labour party led by Ramsey McDonald. Labours approach to tackling the economic problems was to follow the traditional line of the classical economists which was to balance the budget and use laissez faire. Laissez faire meant that the government did not get involved in the economy. Their immediate response was to introduce 10% wage cuts for those working in the public sector e.

Normalization Employeers Productivity Essay

There are several reasons why employers should be careful not to overwork their employers. At the top of that list is securing long term sustainability. Long term sustainability involves mapping out feasible productivity plans that balance workforce output and employee maintenance costs. This means that employers must factor in several other variables aside from net profitability when determining the ideal number of hours that their employees should work. Where having company policies that encourage overtime and consequentially overwork does tend to boost individual employee productivity in the short term, Gunner (2000) showed that the increase was only part of a reverse parabolic trend, where a typical employee would work excessively reaching a productivity peak and then burn out and lose productivity within the next few months. This means that the overall productivity of a particular employee would ultimately be the same or even lower than if the company did not encourage overworking. This is also undesirable because companies also do not generally prefer a very high employee turnover which cripples production continuity and creates a negative image of the company as a temporary stepping stone to greener pastures. The despotic method of overworking employees to get the maximum profitability is not feasible in current corporate climate where it is equally difficult to find good employers as it is to find good employees. Companies should be interested in keeping good employees and this means keeping these employees satisfied with their work and their work atmosphere. Overworking is one of the major causes of stress which in turn is one of the primary causes of employment dissatisfaction (Edwards, 2003). In conclusion, companies should maintain the balance between employee productivity and satisfaction by keeping them from getting overworked. This benefits the company with normalized productivity, prevents workforce burnout, and improves employer profile. Â   References: Edwards, A. (2003). Stress: Causes, Symptoms, Complications. Kennedy & Kennedy. Gunner, J. (2000). Employee Productivity Trends in Southern States Based Corporations. Harvard Press.

Lives Of Slaves Frederick Douglasss Book - Free Essay Example

Sample details Pages: 3 Words: 993 Downloads: 9 Date added: 2019/06/10 Category Literature Essay Level High school Topics: Frederick Douglass Essay Did you like this example? The Narrative of the Life of Frederick Douglass focuses on the lives of slaves during the 19th century. More specifically, we followed Frederick Douglassrs journey through slavery and the struggles that he endured. As he grew up, Douglass witnessed many acts of hatred and cruelty towards other slaves as well as experiencing them himself. Don’t waste time! Our writers will create an original "Lives Of Slaves Frederick Douglasss Book" essay for you Create order Despite the difficult times that Douglass went through, he remained optimistic about obtaining freedom. When Douglass was finally released from slavery, he began to reflect upon his life and think deeply about what he went through. Douglass realized he had been dehumanized and understood that slave owners did the same to others. Because of the process of dehumanization, slave owners were able to commit cruelty upon their slaves without feeling remorse. Not all slave owners in Narrative of the Life of Frederick Douglass were cruel to their slaves at first, but over time dehumanization allowed them to commit acts of cruelty without feeling incriminated. When Frederick Douglass lived on the Hugh plantation, his mistress attempted to teach him how to read. When the master found out, he shamed the mistress and told her not to teach Douglass again. Over time, she starting treating Douglass like the master did because of dehumanization. She treated him like a human being before being told not to teach, but after that her entire perspective changed. In entering upon the duties of a slaveholder, she didnt seem to perceive that I sustained to her the relation of a mere chattel, and that for her to treat me as a human being was not only wrong, but dangerously so (22). Once the mistress conformed to societys expectations of being a slaveholder, she treated Douglass poorly. Dehumanization allowed her to make this transition without feel ing guilty for viewing Douglass as lesser than a human being. Dehumanization was clearly exemplified when Frederick was sent to work on Edward Coveyrs farm. Covey had a reputation of breaking slaves. This meant he had an effective process of disciplining and training slaves who had normally misbehaved. As Frederick looked back on his life, he said, If at any one time of my life more than another, I was made to drink the bitterest dregs of slavery, that time was during the first six months of my stay with Mr. Covey (37). Edward Covey would whip his slaves constantly for the smallest accidental mishaps. He had a way of making his slaves feel as though they were being watched by him at all times. He would creep through the fields and sneak behind bushes in order to inevitably find an excuse to whip his slaves. He was so deceitful that his slaves called him the snake because they were terrified of him. Edward Covey was able to commit such cruel acts on his slaves because he would dehumanize them. He would think of them as less than human. W e know this because Covey was a religious man who would pray frequently and practice the words of the Bible. This would have stopped him from being so cruel to his slaves if he thought of them as equal humans. It is because he thought of them as less that he was justified in treating them cruelly. The process of dehumanization allowed slave owners to treat their slaves with no sense of remorse or mercy. Frederick Douglass shares stories of some of the horrors that he witnessed. The mistreatment of slaves was a theme throughout the book, and the stories that Frederick shares provide numerous examples of it. He provides the example of two girls who lived across the street from him. They were treated very poorly by the person who owned them. Their names were Henrietta and Mary. Henrietta was about twenty-two years of age, Mary was about fourteen; and of all the mangled and emaciated creatures I ever looked upon, these two were the most so. His (Mr Thomas Hamilton) heart must be harder than stone, that could look upon these unmoved. The head, neck and shoulders of Mary was nearly cut to pieces.(21) Frederick directly states that Mr Thomas Hamilton must have a heart as hard as stone, for he was able to whip his slaves nearly to death with no remorse for it. Mary is only fourteen years old and she was whipped so often that her body was torn. If Mr Thomas Hamilton had seen these girls as humans, he wouldnt have beaten them so horridly. He wouldnt call then names such as black gip or pecked. The sheer violence of their masterrs actions directly shows that he didnt view them as human beings who could be emotionally and physically affected by his abuse. Douglass provides another example of dehumanization when he talks about the cruelty of Master Andrew. Master Andrew was notorious for being a cruel drunkard. He makes an example towards Douglass by murdering his younger brother in front of him in cold blood. the thought of passing out of their hands into those of Master Andrew- a man who, but a few days before, to give me a sample of his bloody disposition, took my little brother by the throat, threw him on the ground, and with the heel of his boot stamped upon his head till the blood gushed from his nose and ears- was well calculated to make me anxious as to my fate.(28) The murder of Frederickrs brother was and act to assert Master Andrewrs dominance, to make sure that the new slaves were to listen to him and fear him. If he had seen Frederickrs little brother as human he wouldnt have been able to stomp him to death just to make an example of him. He wouldnt have been able to murder a boy out of cold blood because he would know that the boy could feel and hurt just like other people do. This continuing of dehumanization kept the act of slavery cruel and allowed slaveholders to commit such terrible acts.