{"id":6205,"date":"2015-10-23T14:08:54","date_gmt":"2015-10-23T18:08:54","guid":{"rendered":"https:\/\/www.duck9.com\/?p=6205"},"modified":"2015-10-23T16:03:21","modified_gmt":"2015-10-23T20:03:21","slug":"what-credit-and-interest-rate-laws-are-being-broken-in-2-usa-states","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/what-credit-and-interest-rate-laws-are-being-broken-in-2-usa-states\/","title":{"rendered":"What Credit and Interest Rate Laws Are Being Broken in 2 USA States"},"content":{"rendered":"
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By Larry Chiang<\/div>\n
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File this under Municipal employees behaving like Andrew Kahr or Richard Fairbank (respectively the founders of Providian and Capital One). Its charging junk fees to people that are too poor to declare bankruptcy on $800 line of credit (in default).<\/div>\n
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Notorious for charging illegal fees,\u00a0Andrew Kahr and Richard Fairbank, are. Now, fellow American citizens in crappy states with an AG asleep at the wheel of Attorney General-ing have something horrible to contend with:<\/span><\/div>\n
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\"\"<\/span><\/td>\nPaul Graham (@paulg<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/22\/15, 10:46 AM<\/span><\/a><\/div>\n
A debtors\u2019 prison in Mississippi:\u00a0goo.gl\/FQjZyJ<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\ndebtors prison.\u00a0<\/span><\/p>\n<\/div>\n

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I cannot make this up.\u00a0<\/span><\/div>\n
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\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/22\/15, 3:11 PM<\/span><\/a><\/div>\n
Like Providian and Capital One. Municipalities love fake junk fees\u00a0#HR627<\/a>\u00a0twitter.com\/paulg\/status\/6\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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FTC disclosure: The NAAG has been a positive boon to my career. And I financially benefit from the mentorship.\u00a0<\/span><\/div>\n
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FTC disclosure: I financially benefitted from Amex giving a credit card to my friend Mike Arrington.\u00a0<\/span><\/div>\n
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\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/22\/15, 3:12 PM<\/span><\/a><\/div>\n
very often, people in power just make stuff up. I mean how many actually read basic laws like\u00a0#HR627<\/a>\u00a0and\u00a0#FCRA<\/a>twitter.com\/paulg\/status\/6\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nIt’s time for a clear federal law like #HR627. We need to protect more than just college students from predatory practices. We should also protect people who don’t read good.\u00a0<\/span><\/p>\n<\/div>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/23\/15, 10:41 AM<\/span><\/a><\/div>\n
What WP’s\u00a0@radleybalko<\/a>\u00a0wrote.
\ns-u-b-j-e-c-t: fees on top of fines (hat tip\u00a0@paulg<\/a>\u00a0cc\u00a0@SingletaryM<\/a>)\u00a0pic.twitter.com\/fnykzK386q<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nDownload<\/a>\u00a0the Twitter app<\/span><\/p>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/22\/15, 3:13 PM<\/span><\/a><\/div>\n
The State AG refuses to go after a mayor for making up junk fees. Its political (triple entendre intended).\u00a0twitter.com\/paulg\/status\/6\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/22\/15, 3:15 PM<\/span><\/a><\/div>\n
1st heard of debtors prison when on vacay watching This Wk, Tonight\u00a0@spg<\/a>‘s\u00a0@Royal_Hawaiian<\/a>. Junk fees are junk.\u00a0twitter.com\/paulg\/status\/6\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n<\/span><\/span><\/p>\n\"Flowers.<\/a> Flowers. Royal Hawaiian. Sent to a suite where the room number was five digits\n


\nFTC disclosure: I got flowers from staff and a suite upgrade\u00a0<\/span>@Royal_Hawaiian<\/a>.<\/span><\/span><\/p>\n<\/div>\n

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\"\"<\/td>\nBoo! Radley (@radleybalko<\/a>)<\/b><\/td>\n<\/tr>\n
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10\/20\/15, 9:37 AM<\/a><\/div>\n
Alabama judge literally orders impoverished defendants to pay fines with their own blood. nytimes.com\/2015\/10\/20\/us\/\u2026<\/a><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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By Larry Chiang File this under Municipal employees behaving like Andrew Kahr or Richard Fairbank (respectively the founders of Providian and Capital One). Its charging junk fees to people that are too poor to declare bankruptcy on $800 line of credit (in default). Notorious for charging illegal fees,\u00a0Andrew Kahr and Richard Fairbank, are. Now, fellow […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,36],"tags":[],"class_list":["post-6205","post","type-post","status-publish","format-standard","hentry","category-deep-underground-credit-knowledge-via-subroutines","category-duck-chapter-9-startup-bankruptcy"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/6205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=6205"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/6205\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=6205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=6205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=6205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}