| THE BIG STORY Trump’s consumer watchdog just allowed payday lenders to give loans to people who can’t afford them Late in the Obama era, a government rule was created to require payday lenders to assess whether someone taking out a loan can actually afford to repay it. It gave payday lenders a similar responsibility to the one banks have for giving out long-term loans like mortgages.
Yesterday, the Consumer Financial Protection Bureau undid that rule, making it easier for payday lenders to give out high-interest loans to people who may not be able to repay them.
Short-term payday loans come with interest rates that top 300%; depending on state laws, they can top 600%. Lenders often allow people to roll over their loans by paying a fee to delay repayment. Et voila, a small short-term loan becomes massive long-term debt.
Democrats and consumer advocates have accused the Trump administration of gutting protections for the most vulnerable in the midst of a pandemic-induced economic crisis.
STAYING ON TOP OF THIS Brazilian president Jair Bolsonaro has tested positive for COVID-19
Brazil is grappling with a coronavirus surge that critics blame on President Jair Bolsonaro’s response to the pandemic. In the midst of that surge, Bolsonaro announced that he has tested positive for COVID-19.
The far-right president previously called the virus nothing more than “a little cold.” He has been accused of taking a flippant approach to the pandemic, and often refused to wear a face covering even after a judge ordered him to do so.
Bolsonaro was said to be taking hydroxychloroquine, the drug touted by President Donald Trump but which the FDA says is not likely to be effective in treating the virus.
Dida Sampaio / AP SNAPSHOTS Secretary of State Mike Pompeo said the US is considering banning TikTok. After India banned nearly 60 Chinese apps including TikTok, Pompeo told Fox News the US is considering similar measures over national security concerns.
The Trump campaign isn’t selling face masks, so Etsy sellers are stepping in to meet the demand. The president won’t wear a mask, even as coronavirus cases rise. But mask-makers are selling loads of masks brandishing his name and image.
Halle Berry apologized after she was criticized for her comments about playing a transgender man in an upcoming movie. The Oscar winner received criticism after discussing preparing for the role. Berry released a statement, saying, “As a cisgender woman, I now understand that I should not have considered this role.”
A man and a woman were charged with a hate crime for painting over a Black Lives Matter mural in California. The pair recorded themselves painting over the mural with black paint just hours after it was finished. “Keep this shit in New York,” the woman yells out in the video. “This is not happening in my town.”
Youtube THE TIMES, THEY ARE A-CHANGIN' The anti-racism movement isn’t going anywhere. We want to hear from the young people leading it. The police killing of George Floyd has sparked a colossal movement for police reform and anti-racism, and people have not let up protesting in the streets.
It’s a movement largely led by young Black people who have organized, protested, and shared educational resources across the internet and cities around the country. Their work has led cities to pull down statues honoring the Confederacy, pushed school boards to reevaluate the need for police officers in schools, and cities to reconsider police funding.
Here’s the thing: the movement is not fading into the background after a brief moment in the sun. Rather, the opposite is happening: it is gaining momentum.
We’re looking to speak to young activists who have worked toward pushing the movement forward in cities across the country. We want to know what you think comes next as many people commit to anti-racism.
HE WROTE HIS WAY OUT Lin-Manuel Miranda responded to criticism of Hamilton after the hashtag #CancelHamilton spread on Twitter The musical was released on Disney+ last week, and although the show was met with excitement and praise, some people took the opportunity to remind viewers of Hamilton's shortcomings — namely that it brushes past the founding fathers' dealings with slavery.
Now, the show’s creator Lin-Manuel Miranda has weighed in, acknowledging the show’s failures. “All the criticisms are valid,” Miranda wrote in response. “The sheer tonnage of complexities and failings of these people I couldn't get ... I took 6 years and fit as much as I could in a 2.5 hour musical.”
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