The Rise of Payday Lending To make almost any major life decision in the United States—such as leasing an apartment, purchasing a car, applying for a job, or securing a loan—you need a credit score.[1] More importantly, you need a good (or at least…
The U.S. has one of the greatest wealth gaps of any developed country in the world.[1] As the nation with the most billionaires[2] and the highest GDP,[3] the U.S. has a shamefully high poverty rate, with 11.5% of the population (37.9 million people)…
Last September, the United Auto Workers (UAW), the union representing nearly 150,000 employees at factories run by GM, Ford, and Stellantis (the “Big Three” automakers), initiated a historic strike.[1] Chief among the unions’ demands were calls…
In 2021, 6% of U.S. adults were what is known as unbanked, meaning they did not have a checking, savings, or money market account.[1] This population of unbanked individuals were significantly more likely to have low income; 79% of all unbanked adults…
Microfinance disrupts the bias against the unbanked throughout international finance that continues to undermine the growth of small businesses around the globe. Entrepreneurs in rural emerging markets are often ignored by banks and other traditional…
Real estate investment trusts (REITs) were heralded in the 1960s as a promising low-stakes investment option for individuals to bridge the wealth gap produced by unequal access to the stock market. Private prisons, often funded through private investments…
Introduction In recent years, the Federal Trade Commission (“FTC”) and Department of Justice (“DOJ”) have seen a staggering 101 percent increase in first requests for merger approvals over pre-pandemic levels.[1] In response, President Biden’s…
In the fall of 2021, the U.S. Department of Education (“Department”) began the rulemaking process to amend federal student loan regulations to eliminate interest capitalization events for student loan borrowers.[1] Under current Department regulations…
The U.S. banking system “has become a reverse Robin Hood, taking money from those with less and giving to those who already have.”[1] A recent survey by the Federal Deposit Insurance Corporation (FDIC) indicated that over seven million unbanked individuals…
by Michael Weinberg
