- PHILIPPINES /USA : Stranded US Naval Warship Finally Dismantled.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- COLOMBIA : 30 May UPDATE: Premiere Of Narco Pablo Escobar Telenovela...Sets Viewer Record.
- RUSSIA : Aeroflot Fires Attendant...For Posting Middle Finger Salute Foto.
- PERU: Sand Fly Bite...Morphs Into Horror Story For American.
- ITALY : Ruby Heartstealer Testifies About Bunga Bunga Parties at Milano Trial.
- BRASIL: Footballer De Souza's Model Mistress Murder Trial Begins.
- MUSIC FOR MONDAY: From SWEDEN / AZERBAIJAN : Eurovision Winner Loreen Sings "Euphoria."
- VENEZUELA :6 March UPDATE: Shooting At Caracas Opposition Rally Wounds Capriles Supporter.
- SERBIA / HUMOR : TV Show Pranks PM...With X Rated View.
07 January 2013
BRASIL / MEXICO : Payroll Loans Flourish For Banks...But May Threaten Consumers.
Relatively new...and usually small...but rapidly growing...consumer payroll loans...are subtracted directly from emplyment checks...and seen by banks as a new source of profit.
While low risk in themselves...they could cause defaults in other types of debt.
In 12 months ending September...in Brasil...payroll loans increased by 16.5%...to $88 billion...while Mexico saw a 34% increase...to $9 billion.
The interest rate charged in Brasil is 20%...lower than most credit cards.
In Mexico...the interest rate charged is higher... at around 35%.
Banks see it as an easy...and safe way...to get under served new customers.