- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- COLOMBIA : Top Pop Singer Shakira...Sued By Ex-Novio...For $100 Million.
- VENEZUELA: Growing As Hub For Drug Shipments.
- USA / SOCIAL MEDIA / GUN CULTURE: Santa Leaves Heat As Xmas Treats.
- UKRAINE : 27 April UPDATE: Barbie Doll Looking Model...Defends Appearance.
- ART / HUMOR / SPAIN : 27 August UPDATE: Clever Jokers Post Their 'Restored' Versions Of Famous Images.
- URUGUAY: Foreigners Rush To Buy Farm Land.
- GUATEMALA : Court Throws Out Rios Montt Genocide Conviction; Trial Restart Ordered.
- ARGENTINA: Bond Appeal Surging On Exports And Debt Restructure; Beating Ukraine For Yield For Now.
- RUSSIA : Miss Russia Defends Pussy Riot Punkers; 4 Detained After Small Moscow Pussy Riot Protest.
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.