Archive for Janice Vega

Should Weight Loss Programs be Regulated?

weight loss 2Losing weight can be a real challenge for many Americans. It is so easy to eat something that is not all that good for you just because it tastes good, or because you are so busy during the day that there is no time to sit down to a home cooked meal. Because of this, many Americans are overweight and are looking to do some sort of weight loss program. The weight loss industry has become a very large business that can be exceptionally profitable for those who decide to get fully involved. As a result, many new weight loss programs are frequently popping up, all stating that they are the best and that you are sure to lose the weight that you want from them.

 

weight loss 3Unfortunately, for every legitimate weight loss program that is available, there are many that are just trying to take your money. They will promise significant results, but upon a lack of progress will claim that it is your fault that you are not losing the weight that you are looking for. Or even worse, you will lose weight doing the things that they tell you to do, but you may end up feeling sick in the process as a result of their recommendations. It can be incredibly difficult to determine which weight loss programs are safe and which need to be avoided. With fancy wording and great advertisements, all can give the impression of legitimacy and effectiveness..

weight lossAt one time, AthleticMuscle.net wrote a review on the Venus Factor weight loss program and has determined that it is a good idea if weight loss programs begin to get monitored on a regular basis. As of right now, there are no regulations placed on a weight loss programs, meaning that they can sell you any product and be creative with the promise of its effectiveness; all without direct repercussions. It is time for the politicians in this country to step up and realize that these weight loss programs could start to cause many problems, potentially causing harm to the people who begin to follow them.

It is clear that there should be some sort of regulation on the weight loss programs that are available to consumers. They should all have to meet up certain standards and earn certification, as is the case in most other industries in the US. It is not fair that these programs are able to make a lot of money on innocent people while selling products that are at best just water pills, and at worst items that are downright unsafe for the consumer.

Some things that should be regulated in terms of weight loss programs include the ingredients that can be put into any of the products that are sold, the types of foods that they are able to advise to their clients, and even how much and the type of exercise that their clients should do. Weight loss is hard enough without having to deal with frauds and harmful people making it even more difficult.

 

Should Payday Loans be Regulated?

Why Payday LoanPayday loan Companies Should be Regulated

Dante put usurers, those who charge high interest rates on loans, in the 7th circle of hell. The general thought was usurers did not “live by the sweat of their brow,” and thus were making money in an unnatural way. While the fantasy portrayed in the Divine Comedy clumped these people with some of the worst offenders, in modern times, we tend to see those who offer short term, or payday loans, at high interest, as a necessary evil.

People, such as Bruce Claymore of My Payday Loans, suggest that their service offers borrowers a safety net that they can’t get from more traditional services like banks and revolving lines of credit. This situation inevitably puts those with bad credit (usually the poor) at the mercy of annual interest rates that often top 400%. In real world terms, this means that if you borrow 200 dollars one week, on your next payday you might owe the loan servicer around 35 dollars. This might not sound like much, especially if you are desperate for the money. And perhaps this would be fine if people simply used these companies as a final resort – as a safety net.

What tends to happen, however, is that people get caught in a vicious cycle in which they must continually borrow every payday to cover the amount they are losing. So 200 dollars turns to 235, which turns into 280, which turns into 350, and so on, until the amount owed in interest has surpassed the original amount owed three, four, five times over.

It is reasonable for a company loaning money to factor into interest things such as rate of inflation, overhead, and risk – but a 400% annual rate surpasses any other type of credit ten times over.

Short term payday loans should be regulated by the federal government in a similar way that credit agencies are. There should be clear limits on the annual interest rates of such loans, and, in general, companies should be required to vet their customer base by not offering credit to people they know will not be able to pay them back. This point is particularly important, because eventually people dig themselves into a whole they cannot get out of, and subject themselves to a slew of penalties, late fees, and eventually legal fees as well.

In a number of ways, the federal government should move to audit these companies in the way that colleges and universities are audited. If the percentage of people paying back the full amount of the short term loan does not meet a certain criteria, then that particular branch should be subject to penalties.

What becomes particularly complicated in this issue is the emergence of payday loan companies in Native American tribes. Because Native American tribes operate under a different set of federal regulations, they are often not subject to the same rules as the majority of the population (such as being able to admit those under 21 into casinos). These institutions would have to be carefully regulated as well, but perhaps not within the same parameters as the companies you can find littered across urban America.