Daily Digest – January 5: Time for Federal Regulations for Predatory Payday Loans
January 5, 2015
By Roosevelt Institute
Roosevelt Institute Fellow Saqib Bhatti’s proposal to allow the Fed to lend directly to municipalities is one of many ideas you can vote on in the Progress Change Institute’s Big Ideas Project. The top 20 ideas will be presented members of Congress. Voting ends on Sunday, January 11. Click here to vote!
CFPB Sets Sights on Payday Loans (WSJ)
Alan Zibel reports on the Consumer Financial Protection Bureau’s plans to explore creating new rules to regulate predatory payday lending, the first such rules on a federal level.
Signs of Economic Promise Are Offering Some Hope for the New Year (NYT)
Rachel Swarns reports on the positive signs that some are seeing, including new jobs for long-term job seekers and raises and more hours for workers at retail chains like Zara.
Don’t Believe What You Hear About the U.S. Economy (AJAM)
Dean Baker says it’s not yet time to celebrate an economic comeback. Growth is still slow enough that the labor market won’t reach pre-recession numbers by the end of 2015.
Why the Democrats Need Labor Again (Politico Magazine)
Timothy Noah interviews Thomas Geoghegan on his new book, which he describes as a “last-ditch effort for the Democrats” to revive the labor movement and win elections.
California Colleges See Surge in Efforts to Unionize Adjunct Faculty (LA Times)
Larry Gordon speaks to adjunct faculty at some of the private colleges in California that are seeing union organizing on campus for the first time.
Austerity’s End Strengthens U.S. Recovery (MSNBC)
Steve Benen corrects Grover Norquist’s attempt to give Republicans credit for economic growth, pointing to small increases in public spending as proof that austerity didn’t fix anything.
The Five Major Things We Screwed Up in Inequality in 2014 (The Guardian)
Suzanne McGee’s list includes the minimum wage, which she says needs a boost at a federal level, and race and economic opportunity, an issue she says we practically ignored.