The cards, used mainly by consumers who have little credit history or a poor one, haven’t been widely adopted. Amazon is now offering one. Source: NYT > Business – Ann Carrns
These Artists Want to Blow Up the Whole Financial System
But first they bought bad debts and exploded a van. Source: NYT > Business – Josie Thaddeus-Johns
Modern Monetary Theory’s Reluctant Poster Child: Japan
Despite its huge debt, the country remains an economic powerhouse. Some say it provides a model for the United States, but its leaders disavow the idea. Source: NYT > Business – Ben Dooley
Many Adults Would Struggle to Find $400, the Fed Finds
Household finances are improving in a strong job market, but just six in 10 adults still could cover a surprise expense without selling something or borrowing money. Source: NYT > Business – JEANNA SMIALEK
Inquires Into Reckless Loans to Taxi Drivers Ordered by State Attorney General and Mayor
The investigations come after The New York Times found that thousands of drivers were crushed under debt they could not repay. Source: NYT > Business – BRIAN M. ROSENTHAL
As Thousands of Taxi Drivers Were Trapped in Loans, Top Officials Counted the Money
The government profited and looked away as thousands of immigrant taxi drivers in New York were ravaged by exploitative loans. Source: NYT > Business – BRIAN M. ROSENTHAL