A 400% interest rate on small-dollar loans is the average across the States. Now that 83% of Nebraska’s voters have approved Initiative 428, that won’t be the case in this Midwestern state: Payday lending interest rates will soon be capped at 36%.
The debt-transfer project will start in February. Each person on the scheme will be given a coach with whom they will prepare a “guidance plan”.
The bills aim to keep families transitioning from welfare to work from losing health, financial, and education benefits until they are earning enough to fully support themselves.
More than 3 million Kazakhs in the energy-rich country of 18 million will get help to escape debts averaging 300,000 tenge ($790).
A two-year study in Finland found that people who received UBI worked no less than a control group bolstering the case for a basic income as the world economy transitions to greater automation.
The school says it wanted to reduce the amount of debt students are saddled with after medical school and attract a more diverse class of students.
New Zealand’s new prime minister called capitalism a “blatant failure”, before citing levels of homelessness and low wages as evidence that “the market has failed” her country’s poor.
City utility prepares nation’s first water rate based on annual earnings.
Moving to address income inequality on a local level, the City Council in Portland, Ore., voted on Wednesday to impose a surtax on companies whose chief executives earn more than 100 times the median pay of their rank-and-file workers.
In a report released Friday, the president’s Council of Economic Advisers argued that the Obama administration’s policies on taxes, health care and other issues were responsible for a historic achievement in reducing inequality.