We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting…
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New Study Shows How Overregulating Short-Term Lenders Harms Consumers

We at CFIF have consistently highlighted the peril of federal, state and local government efforts targeting the short-term consumer lending sector.

Less than two years ago, we specifically sounded the alarm on a New Mexico law artificially restricting interest rates on short-term consumer loans.

Well, a new study entitled "A New Mexico Consumer Survey:  Understanding the Impact of the 2023 Rate Cap on Consumers" that surveyed actual borrowers confirms our earlier warnings:

Key findings include:

•Short-term,small-dollar loans help borrowers manage their financial situations, irrespective of the borrower’s income.

•The rate cap has failed to improve the financial wellbeing of New Mexicans, specifically those who had previously relied on short-term, small-dollar loans.

•…[more]

November 27, 2023 • 03:57 PM

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United Nations Is Useless Print
By Betsy McCaughey
Wednesday, October 18 2023
The U.N. has long been biased against Israel and captive of the world's most despotic regimes.

The United Nations is useless. 

The United States is pouring more than $12 billion a year of our tax money down the U.N. rathole and squandering a better opportunity. 

The dream behind the U.N.'s founding, to provide an international forum for peaceful cooperation and the prevention of war, doesn't have to be discarded. 

America should lead the democratic nations to establish a new forum and junk the U.N. Those two letters have come to stand for Useless Nations, or worse, Unethical Nations. 

The U.N. lends legitimacy to ruthless, despotic regimes and even a terrorist organization, Hamas.

The current crisis in Gaza shows the U.N.'s true colors. For years, the U.N. refused to label Hamas what it is  a terrorist organization like ISIS or Al Qaeda. In 2018, then-U.N. Ambassador Nikki Haley sounded the alarm about Hamas' plans to attack Israeli communities, even alleging evidence of maps and raid plans. Haley urged the terrorist designation, but the U.N. refused to act.

Last week, U.N. Secretary-General Antonio Guterres condemned Hamas' terror attack. But Guterres has also aggressively criticized Israel's impending invasion of Gaza to rout out Hamas. 

That's no surprise. The U.N. has long been biased against Israel and captive of the world's most despotic regimes. 

What is surprising is how President Joe Biden kowtows to the U.N., as if it merits respect. In 2021, soon after entering the White House, Biden told the U.N. General Assembly the U.S. is "back at the table," pursuing "relentless diplomacy" and embracing globalist goals.

And he came bearing money. The U.S. provides one-fifth of the international organization's budget, the largest contributor. Biden restored funding for U.N. agencies cut under President Donald Trump, including more than $600 million a year for the pro-Palestinian U.N. Relief and Works Agency.

UNRWA supports the annihilation of Israel. Haley protested that UNRWA "uses American money to feed Palestinian hatred of the Jewish state." UNRWA pays for printed school materials that teach Palestinian children to kill Jews. Maps for Palestinian children don't even show Israel as a country.

Apparently, that's not a problem for the Biden administration. 

In its eagerness to be "back at the table," Team Biden is making the U.S. into a patsy. 

Start with COVID. The U.N.'s own health agency, the World Health Organization, allowed China to wage the biggest cover-up in history. Trump suspended WHO funding, demanding "independence from China." Biden restored the money on day 1 of his presidency. 

For nearly four years, as 7 million people died worldwide, the U.N. watched China block independent researchers from investigating the virus's origin, almost certainly a leak at the Wuhan lab. 

On climate change, the U.N. fleeces wealthy Western countries, while tolerating ever-increasing pollution from China. In March, the U.N. announced wealthier nations  meaning the U.S.  would have to shell out three to six times their current expenditures on global climate action. It's a heist.

As for human rights, Biden vowed in 2021 that the U.S. rejoin the U.N.'s 47-member Human Rights Council. That's some aspiration to be in the company of hardened abusers like Cuba and China. 

Meanwhile, the powerhouse at the U.N.  the Security Council  is a house of thugs, with Russia and China both holding veto powers. Russia bombs Ukrainian hospitals and kidnaps children with impunity. No wonder Ukrainian President Volodymyr Zelensky called the U.N. Security Council useless. This is the same council considering a resolution calling for a ceasefire in Gaza. 

Haley, now a presidential contender, has long protested the U.N.'s anti-Israel bias and corruption. Hers is a voice of moral clarity. She tweeted, "Hamas is evil & must be eradicated. We must stand with Israel  not just when it is hit, but also when it hits back."

Ever since the Holocaust, the world has vowed, "Never again." The U.N. is not up to keeping that promise. 

The world needs a new international organization dominated by democratic leaders, instead of thugs and despots. Biden is incapable, but our next president should get it done.


Betsy McCaughey is a former lieutenant governor of New York and chairman of the Committee to Reduce Infection Deaths. 

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