A CFPB investigation concluded that Transunion and Equifax deceived Americans about the reports they provided and the fees they charged.
In personal finance, practically everything can turn on one’s credit score. It’s both an indicator of one’s financial past, and the key to accessing necessities—without insane costs—in the future. But on Tuesday, the Consumer Financial Protection Bureau announced that two of the three major credit-reporting agencies responsible for doling out those scores—Equifax and Transunion—have been deceiving and taking advantage of Americans. The Bureau ordered the agencies to pay more than $23 million in fines and restitution.
In their investigation, the Bureau found that the two agencies had been misrepresenting the scores provided to consumers, telling them that the score reports they received were the same reports that lenders and businesses received, when, in fact, they were not. The investigation also found problems with the way the agencies advertised their products, using promotions that suggested that their credit reports were either free or cost only $1. According to the CFPB the agencies did not properly disclose that after a trial of seven to 30 days, individuals would be enrolled in a full-price subscription, which could total $16 or more per month. The Bureau also found Equifax to be in violation of the Fair Credit Reporting Act, which states that the agencies must provide one free report every 12 months made available at a central site. Before viewing their free report, consumers were forced to view advertisements for Equifax, which is prohibited by law.
In 1985, Neil Postman observed an America imprisoned by its own need for amusement. He was, it turns out, extremely prescient.
Earlier this month, thousands of protesters gathered at Washington’s National Mall to advocate for an assortment of causes: action against global climate change, federal funding for scientific research, a generally empirical approach to the world and its mysteries. The protesters at the March for Science, as scientists are wont to do, followed what has become one of the established formulas for such an event, holding clever signs, wearing cheeky outfits, and attempting, overall, to carnivalize their anger. “Make the Barrier Reef Great Again,” read one sign at the March. “This is my sine,” read another. “I KNEW TO WEAR THIS,” one woman had written on the poncho she wore that soggy Saturday, “BECAUSE SCIENCE PREDICTED THE RAIN.” Three protesters, sporting sensible footwear and matching Tyrannosaurus rex costumes, waved poster boards bearing messages like “Jurassick of this shit.”
The MIT economist Peter Temin argues that economic inequality results in two distinct classes. And only one of them has any power.
A lot of factors have contributed to American inequality: slavery, economic policy, technological change, the power of lobbying, globalization, and so on. In their wake, what’s left?
That’s the question at the heart of a new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy, by Peter Temin, an economist from MIT. Temin argues that, following decades of growing inequality, America is now left with what is more or less a two-class system: One small, predominantly white upper class that wields a disproportionate share of money, power, and political influence and a much larger, minority-heavy (but still mostly white) lower class that is all too frequently subject to the first group’s whims.
The event's impressive turnout suggests the mainstream environmental justice movement has arrived.
WASHINGTON, D.C.—On President Trump’s hundredth day in office, a flood of protesters—fearful of the more literal floods to come—deluged the nation’s capital.
Tens of thousands of people filled downtown Washington on Saturday to protest the Trump administration’s environmental agenda and the decades-long history of American inaction on climate change. Over the course of a sweltering 91-degree day, they shut down Pennsylvania Avenue, surrounded the White House in a massive sit-in, and rallied in front of the Washington Monument.
“What do we do when our communities are under attack? Stand up, fight back!” said Dallas Goldtooth, an organizer with the Indigenous Environmental Network and one of the emcees of the rally.
American society increasingly mistakes intelligence for human worth.
As recently as the 1950s, possessing only middling intelligence was not likely to severely limit your life’s trajectory. IQ wasn’t a big factor in whom you married, where you lived, or what others thought of you. The qualifications for a good job, whether on an assembly line or behind a desk, mostly revolved around integrity, work ethic, and a knack for getting along—bosses didn’t routinely expect college degrees, much less ask to see SAT scores. As one account of the era put it, hiring decisions were “based on a candidate having a critical skill or two and on soft factors such as eagerness, appearance, family background, and physical characteristics.”
The 2010s, in contrast, are a terrible time to not be brainy. Those who consider themselves bright openly mock others for being less so. Even in this age of rampant concern over microaggressions and victimization, we maintain open season on the nonsmart. People who’d swerve off a cliff rather than use a pejorative for race, religion, physical appearance, or disability are all too happy to drop the s‑bomb: Indeed, degrading others for being “stupid” has become nearly automatic in all forms of disagreement.
The party appears to be struggling to convince the public it represents a better alternative to President Trump and the GOP.
If Democrats want to regain the power they’ve lost at the state and federal level in recent years, they will have to convince more voters they can offer solutions to their problems.
That may be especially difficult, however, if voters think the party and its representatives in government don’t understand or care about them. And according to a recently released poll, many voters may, in fact, feel that way. The Washington Post-ABC News survey, released this week, found that a majority of the public thinks the Democratic Party is out of touch with the concerns of average Americans in the United States. More Americans think Democrats are out of touch than believe the same of the Republican Party or President Trump.
Jill Filipovic’s new book, The H-Spot, argues for a movement that de-emphasizes women’s equality—and focuses instead on their fulfillment.
Earlier this month, the New York Times ran an article on its website titled “How to Be Mindful While Cleaning the Bathroom.” The piece, part of the paper’s Meditation for Real Life series, offers advice on transforming that most thankless of chores into a spiritually rewarding activity, from the beginning (“once you’ve selected your cleaning tool, take a moment to notice it with your various senses”) and throughout the process (“maintain your focus on each circular, left-to-right or up-and-down motion”). The point of the exercise is not so much a clean bathroom—“you’re not chasing a result”—as it is an embrace of the notion that even toilet-scrubbing, when gone about in the right way, can produce its own soft satisfactions. “With the practice of mindful cleaning,” the piece notes, “you can transform this once boring activity into a nourishing and enjoyable moment to yourself.”
In the age of the digital hermit, a psychologist explains what it means to avoid other people—and what to do about it.
People today might not actually be avoiding social interaction any more than they did in past decades, but they’re certainly more vocal about it. The rise of digital communication seems to be spawning a nation of indoor cats, all humble-bragging about how introverted they are and ordering their rides and groceries without ever talking to a human.
Sometimes reclusiveness can be a sign of something more serious, though. Social anxiety is one of the most common mental illnesses, but it’s still poorly understood outside of scientific circles. The good news is that it’s highly treatable, according to Stefan G. Hofmann, the director of the Social Anxiety Program at Boston University.
I recently talked with Hofmann about how social anxiety works and what people who feel socially anxious can do about it. An edited transcript of our conversation follows.
“Somewhere at Google there is a database containing 25 million books and nobody is allowed to read them.”
You were going to get one-click access to the full text of nearly every book that’s ever been published. Books still in print you’d have to pay for, but everything else—a collection slated to grow larger than the holdings at the Library of Congress, Harvard, the University of Michigan, at any of the great national libraries of Europe—would have been available for free at terminals that were going to be placed in every local library that wanted one.
At the terminal you were going to be able to search tens of millions of books and read every page of any book you found. You’d be able to highlight passages and make annotations and share them; for the first time, you’d be able to pinpoint an idea somewhere inside the vastness of the printed record, and send somebody straight to it with a link. Books would become as instantly available, searchable, copy-pasteable—as alive in the digital world—as web pages.
As the death toll in the Philippines soars, those left behind confront a different life.
MANILA—On the morning of September 19, 18-year-old Brent Michael Bravo was on his way home from Manila’s Pasay City Hall, where he was being tried for illegal drug possession. He flagged down a motorized rickshaw, driven by 27-year-old Marvin Columbino. Bravo sat behind Columbino, so that his girlfriend and his grandmother, who had accompanied him that morning, could sit in the motorcycle’s side carriage. As they rounded the corner of city hall, a motorcycle, its driver wearing a bonnet and sunglasses, pulled up next to them. Suddenly, he raised a gun and opened fire, shooting at the rickshaw five times at close range. One bullet hit Bravo’s left arm and body, exiting through his right side and embedding itself in Columbino’s spinal chord. According to police reports, Bravo was the target of the attack.
A haunting documentary about a West Virginia town plagued by painkiller addiction
In a short film, a husband ends up in a legal battle over his wife’s final wishes to be buried in the front yard.
"When you travel together and don't kill each other."