Cumberland Advisors Market Commentary – Financial Literacy & Predatory Lending

Author: David R. Kotok, Post Date: November 7, 2019
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The Military Lending Act caps annual interest on loans to military members at 36% and offers other safeguards. Now, lawmakers are proposing to extend that protection to veterans and others. NPR reports: https://www.npr.org/2019/11/07/776769597/a-ban-on-high-cost-loans-may-be-coming

Financial Literacy & Predatory Lending

How do people wind up with “High-Cost Loans” in the first place? If a lack of financial literacy is the cause, there are resources available at various levels of understanding to educate and enlighten. If you know of anyone needing a primer on financial literacy, the Federal Reserve Bank of St. Louis offers an online course, “Paying & Receiving Interest” at this link: https://www.econlowdown.org/interest?p=yes

Ready for more advanced topics? Then join Cumberland Advisors for the 2020 event, “Financial Markets and the Economy – Fourth Annual Financial Literacy Day”, at the University of South Florida Sarasota-Manatee (USFSM) for a deep dive into the Bond Market where we’ll examine the categories of debt and the influences on them including budget deficits and larger issues like central bank QE and its impacts on interest rates for this debt before diving into Real Time Payments (RTP) where Bitcoin, Libra, Venmo and new versions of electronic money are having an increasing impact. We’ll cap off the day’s event with a Keynote Speech from Loretta Mester, President of the Federal Reserve Bank of Cleveland.

If you’re interested in learning more about financial markets and the economy, please join us on Friday, February 14, 2020 for our annual conference. Learn more or register here: https://www.interdependence.org/events/browse/fourth-annual-financial-literacy-day/

David R. Kotok
Chairman and Chief Investment Officer
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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.

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