Factbox: What a Joe Biden win could mean for economic policy

Factbox: What a Joe Biden win could mean for economic policy

(Reuters) – Democrat and former U.S. vice president Joe Biden had been announced champion regarding the U.S. presidential election by a few major tv companies on Saturday, beating Republican incumbent Donald Trump whom took an industry-friendly stance on legislation.

While Biden is not likely to focus on a industry that is financial, he could be anticipated right here to just take a stricter line than Trump along with his previous employer President Barack Obama.

Biden has tapped previous derivatives market regulator Gary Gensler, who may have a track record of being tough on Wall Street, to focus on a change arrange for monetary industry oversight.

Check out associated with areas that are key administration and agency picks will probably concentrate on.

THE CITY REINVESTMENT ACT

The pandemic has shone a harsh limelight on America’s racial and wide range inequalities, galvanizing Democrats to utilize a array of policy levers to handle the difficulties. Continue reading

Virginia’s payday and name loan laws and regulations among laxest when you look at the country

Virginia’s payday and name loan laws and regulations among laxest when you look at the country

Individuals in Virginia whom simply simply take away payday and title loans face rates of interest just as much as 3 x greater than borrowers various other states with more powerful customer protections, an analysis by Pew Charitable Trusts circulated this week concluded.

“Virginia’s small-loan statutes have actually unusually poor customer defenses, weighed against almost every other rules round the country,” Pew, a nonpartisan thinktank, penned. “As an outcome, Virginia borrowers usually pay a lot more than residents of other states for loans and suffer harmful results, such as for instance car repossession and charges and interest that exceed the amount they received in credit.”

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