the drone sighting reports the cause of the grounding of more than a thousand scheduled flights from gatwick over three days starting on december nineteenth remain unexplained over the weekend the police chief of sussex giles' york apologized to a husband and wife who were held by his force for thirty six hours before being released and cleared of suspicion and they got what case in another indication of the current level of confusion chief york denied the drones flown by police had caused a security scare and said the police do believe that an authorized non-police drones were seen at work after a lower ranking officer suggested the drone reported drone sighting reports were entirely mistaken the truth is out there. you've most likely heard of or have possibly even used one of the many payday lender services available for people who need to borrow a few bucks the problem is these micro loans are known to take people further down the rabbit hole than when they started and where it is these predatory services

will probably get just just get worse in the united states at least in twenty nineteen with the help of the trumpet ministration we're joined by archie's alex mahela bitch and toronto to take you take a deeper look at the issue alex just quickly first give us a breakdown how do these services work if you go to a pretty payday lender or a predatory lender. you know daniel that you when i started this story is that you know that there's this is going to be one of those not too happy stories in the deeper you dig into it the worse it gets so first let's define what these companies are what these banks are going to lenders really what these lenders do now are going to the consumer financial protection bureau we're going to be hearing this name a lot so this this these are the facts the big give us there basically say these payday loans are defined as short term and high cost loans of five hundred dollars or less this typically do on the consumer's next payday so you've got that about two week period to pay it back out to give you some perspective of just how big or how much of one of them are. get these loans take up if you go back to two thousand

and fifteen the federal reserve bank survey of financial companies gives you a breakdown twenty six percent of consumer credit went towards installments of cash loans don vehicles sold on small loans these type of loans these payday loans smaller loans you know break that down we're looking about thirty one percent for motor vehicle loans and leases and consumer to consumer lender so you see that it takes up a big chunk of the market now how do they do this let's check out this graphic this gives you the complete breakdown of how people obtain these payday loans seventy three percent of the micro loans are obtained through brick and mortar operations these are usually in poor neighborhoods in the country is i know that's definitely here in canada it works that way and in the states and on top of these areas that are these lenders that are brick and mortar there's another twenty three thousand payday lenders across the u.s. lives so people are getting on all sides of what happens here is people that are strapped cash they're strapped for cash and they need these to either pay the rent

or pay for food or pay for little things in life and then they just start going into a bishop cycle of trying to repay these loans the consumer financial protection bureau let's call it the c.f.p. from now on these guys look they say that twenty five percent of the people that get into these loans alone borers go nine times around before they actually get out of the system and get maybe money from relatives or someplace else just try to walk away from this vicious vicious downward cycle now alex if you're going to a payday lender you're already in a tight spot obviously but what how is the trumpet ministration set to make things even tougher for payday loan borrowers in the coming year you know what we've seen some regulations come into place and you know if you're saying it's exactly this i mean there this is the problem that the interest rates on these little loans or see there are absolutely massive let's just look at the check out this map so this map breaks down what the united states there's there's a lot of states as well as the u.s. mother. that protect people from these triple digit triple digit interest rates

just absolutely massive north carolina georgia arkansas they also legislation come into place but then you have states like mississippi which is the poorest state in the us where this is happening like crazy over one thousand payday lenders in mississippi we're talking about brick and mortar here you can charge anything from floor hundred percent even up to nine hundred fifty percent that's some of the rates that we're seeing now compare that to credit cards we're looking at twelve percent to thirty percent so it's absolutely massive how does the trumpet ministration kick in here while the c.f.p. has a new person that's a charge mick mulvaney he's been put in by trump they were aggressively trying to change things now they've pulled back and the high interest lenders it looks like the new acting director is basically going to do nothing about it and this will just continue well looks bad here in the u.s. alex certainly pulling back around the world you know in some other countries if you don't pay back high interest loan you know sometimes it can intersect with a sort of privacy invasions and you go into one particular aspect of this what can

you tell us about that in about the form of these loans chaiken china yeah china's a big one here i mean you know the u.s. canada other places you could take a loan against your car gets your vote against something or other people they're naked pictures that's what they're going for and so these lenders they go millenniums are the big target here from one thousand nine hundred one hundred seventy five million forty million are taking these small loans out anything a thousand bucks two thousand bucks to buy burgers with they're putting down payments on cars whatever they're doing it this whole thing is that these people now are targeting women the lenders especially women they're taking naked photos and they're saying if you don't pay things back you know what this is going to happen or to put your picture on the internet we're going to show it to your family and women are actually falling into this trap some of these guys even go as far as telling the woman you know you want to pass back you have to become a sex worker so this is absolutely a different level as you can imagine. this whole thing obviously you know you're

looking at a chart of these are not big loans of the chinese government back in two thousand and sixteen and look at this whole thing it's always hard but if they want to crack down they crack down as much as they can but we still see it happening to this day there's a lot of victims a lot of this predatory practice that's going on basically around the world. well it's really a sobering report there a brave new world alex is removing a twenty one thousand. thank you. there's a limerick agreement between major league baseball and players in cuba that might help along with the financial implications for that country r.t. america's sports producer regina him breaks down the newest deal. baseball players in cuba have a reason to celebrate as a new deal is reached between major league baseball and the cuban baseball federation the move comes after a deal was struck between the two organizations allowing cuban players to sign big

league contracts similar to those for players under contract in japan or south korea in a statement by the end i'll be there agreement was in part to end the dangerous trafficking of cuban players who desire to play professional baseball in the united states a practice that has been documented in legal proceedings and media reports and which has caused significant hardship to cuban players and their families current players in the major leagues such as los angeles dodgers yasiel puig chicago's white sox jose abrade you and the new york mets un s s but is have faced challenges in their path to be with some reaching the u.s. after being smuggled by drug gangs according to a study by the university of san diego cuban players made up the second highest number of athletes in two thousand and fifteen that number of cuban at these is expected to rise of the announcement of the new agreement while cuban players will still have to apply for work visas and abide by the strict rules cuban baseball federation present a nazi of the as no this is good for the country if this is going to go this is the legal way. the secure way which we have always dreamed of for our children and

their families that our athletes can join any league and the m.l. being final details of the agreement need to still be worked out between the chile but many indies both do this as a large step forward for both the m o b an athlete still in the cuban system. and joining us now to discuss more is regina m. . there's a great report there and you know what if you are one of these cuban baseball players and you're subject to the supreme it what kind of financial benefits will disagreement have for a cuban player compared to the status quo ante so cuban players don't make a lot a lot playing in their national league in fact when they played in the cuban baseball series in two thousand and sixteen they urged the players are supposed to earn three thousand two hundred sixty four dollars which is actually six times what a player would make in a year that is an obscene amount of money for a cuban baseball player so you go to the major leagues you see this huge jump uss

that is one hundred ten million dollars playing with the mets you sign that kind of deal and you're looking at money that puts your family in a better financial future that gives you maybe more of a cushion than you would playing back in your home country and that is the incentive here that is what they're trying to get them to do now the cuban baseball federation does take a cut of the player's contract so if you have a one million dollar contract they'll take about twenty five percent if you sign a minor league deal fifteen to twenty three take you know someone who's twenty five years or older or has played in the cuban system for six years so this is really an incentive to try to get them to come and play in the major leagues and also to set them up better financially at home with their families and you know with the cuban government still being a player in this. and the u.s. embargo which they call blockade in cuba still being in effect does does this agreement violate the embargo which the cubans call the blockade can this actually move through under the current legal status quo under the current administration it is going to be challenged trump has said that this is. florida senator marco rubio

has also agree that they're going to find a way to make this not happen which you know is a shame because under the obama era when this started coming about three years ago there was that loophole there is there a lack of tensions you didn't see that these players would have to go through as many loopholes now if this agreement does go through they still will have to go to a third country to get that visa to come work in the united states however they would not have to defect like previous players did or come in on drug boats or be small going to the country but some are arguing that that twenty five percent fee that the government is indirectly getting a caster is a vice president on the board of the cuban baseball federation that money they says will be for peaceful purposes however it may not have might actually go back to the government right and that dynamic of the players not being able to sort of fully you know use all the opportunities are available without without without defecting so to speak that's that's been an irritant that's been the thing that's kept people from becoming a players from getting involved or made them feel like it was you know somehow not patriotic but if the agreement were to go through and now the issue were to be

removed could this be sort of stepping stone to relaxations of tensions and improvements of relations i think that sports in a whole especially when you have those financial background in these implications with the trade sanctions that are going on relaxing this would almost be a way of showing that the tribe administration while still with their foreign policy on cuba is still very strict there could be some easing in certain areas and i think overall with the large cuban populations south florida and all over the united states you really want to maybe have that kind of show i mean baseball is huge in cuba everybody loves watching it people love playing it and this would almost seem like kind of a good friendship gesture in a way well let's hope so let's hope so moving into the new year to ham thanks for coming to discuss the business of sports time now for a quick break but hang your because when we return we analyze the future of social media and regulation with international regulatory attorney myles edwards and as we go to break here are the numbers at the closing bell.

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dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other that it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. and what politicians do something. they put themselves on the line when they get accepted or rejected. so when you want to be president i'm sure more some want to be wrestled. to the right to cross the survival of the four three in the morning can't be the last i'm interested always in the lawyers in the our. case sydney.

when lawmakers manufacture consensus instead of public wealth. when the ruling classes protect themselves. when the finance merry go round lifts only the one percent. doing. the middle of the room sick. in the.

room. nobody could see that false confessions would that profile in this population before the church. had any interrogations out there what bill c. is threat promise threat promise threat why a lie a lie the process of interrogation is designed to put people in that frame of mind make the most comfortable make them want to get out and don't take no for an answer don't accept there are no. she said therefore it's a poor area so i stayed there i would be all about it the next day there's a culture on accountability that police officers know that they can engage that misconduct that has nothing to do with all the crap.

as twenty eighteen and one of the more familiar names on this year's financial crime beat wells fargo bank is in the headlines again after agreeing to pay five hundred eighty five million dollars so settle a bundle of related allegations that the bank pushed unwanted products including life in auto insurance on wells fargo customers the total payment will be allocated among fifty states and the district of columbia though california will take a large portion of one hundred forty seven point eight million dollars from the total investigators found that wells fargo charged and sometimes overcharged many who never even agreed to buy the products the various products pushing practices became apparent after september twenty sixth seen when federal regulators began looking into wells fargo's policy of effectively coercing sales associates into. opening new customer bank accounts without authorization moving into twenty

nineteen wells fargo remains under rare sanction from the us federal reserve imposed in february that prevents the bank from increasing its total assets until was wells fargo is able to convince the fed that it has sufficiently addressed the problematic policies and practices. meanwhile the hong kong monetary authority. meanwhile the hong kong monetary authority or h k m a has announced a fine roughly equivalent to one point six million u.s. dollars against j.p. morgan chase for failures of due diligence and preventing money laundering and financing of terrorism in a statement the h k m a credit said the hong kong branch of the global mega bank with having taken action when notified of the lapses however the authority also stipulated that j.p. morgan hong kong must appoint an independent advisor to ensure that the problems i never fired by h k m a are fully resolved.

revelations about facebook user data be shared with firms like cambridge and a little earlier this year people all around the world were in an uproar facebook c.e.o. mark zuckerberg testified before the u.s. house and senate and in the u.k.'s parliament and importantly at the end of may the european union finalized what is known as the general data protection regulation or g.d.p. are our regular boom busters may recall that we had privacy expert miles edwards on the program to explain g.d.p. art he did a splendid job well now legislation or deuced in the u.s. congress would do some of what g.d.p. are has done in the states and we are fortunate to have with us again global regulatory authority miles edwards miles thank you so much for being here thank you bart for inviting me back well it's such an interesting and important topic for us as consumers but for these big businesses these big bank stocks etc so let's start with this senate bill introduced by democrat amy globe

a char and republican john kennedy the what it's a called a social media privacy protection and consumer rights act of two thousand what would it do miles well the first thing is it's really remarkable to me that right now in the united states there are no comprehensive data protection or privacy laws unlike what we spoke about before with the g.d.p. our and so we have a blank slate we have a tablet or regarding these rules and regulations in the united states what this act is going to do specifically and it's very narrow in its scope are two things one it's going to say if there's any agreement you you go online and you click through it has to be clear conspicuous and in plain english and i think that's part of the problem because some of these sort of things we agree to we don't even recognize we're doing it and the second thing it gives all. of us more control over our data that says we can delete the data if we wanted to we don't have to

opt in to have the data sold to third party sort of the you know the whole problems that we had with cambridge and it also says that we have the right to see what data do you have and where is that data being used so in that respect it does make some strides but again only in that social media contacts yes very interesting that would be helpful i mean the two things one you talked about having the disclosure be something that's readable i remember in my old job i would say we should get rid of thirteen pages of disclosure and having something in thirty six point read letters that mean something so that consumers because otherwise you're just reading through this platter of words that don't really mean anything no offense to attorneys are important to have right but consumers need to have the important information but which companies would be impacted by this of course

facebook but other ones out there google perhaps well it's interesting under the act we have a term it's called computer online platform and that is any computer platform in which you disclose personal information about yourself so absolutely all the social media sites the twitter the facebook the lincoln is going to be you know covered by this but then it's also one of the other firms where wasn't originally intended to be covered so what about your cafe mom and what about your amazon but what about part of your children want to have a website to raise money for school trips and they capture your credit card information and information about you well you know technically they could be considered a computer platform subject to the act which means that they're going to have to have a privacy policy in place and conspicuous you know agreement so i'm not sure that that's. the act was intended to do but the way that the act is written now it's

a very broad in the firms that it's going to cover why when you talk about this my regulatory mind goes that a million miles an hour i'm like well of course you don't want to cover a kid raising money for something but then use and you say what so there's got to be an out for that and there would be that give discretion to the agency but then again you think well somebody could take advantage of that it really could be as you very careful about and you have to be careful because the way the act is written it delegates further rulemaking responsibilities to the federal trade commission and as we're seeing now we're in an increasingly deregulatory environment so the question is is under the current administration how effective is the f t c going to be to enact rules and regulations for a bill they were never really part of in the beginning. of the regulators don't want to do it they can essentially are merely rate much of the law by implementing it with no real condition no bells and whistles it's always

a tough balancing act you know i think we need to prescriptive in the law and then you have congress deciding on things that they don't have any business deciding on and then having the regulators right micromanaging and doing to be right and then you have you know representative kennedy saying you know what listen it's not that you know i don't like facebook but i don't want to regulate them out of business so you know a lot of mixed messages that that we're hearing from congress and a lot of that is reflected in what we're seeing now in the act and one of the key things when you have a rule or regulation is having enforcement or penalties for noncompliance well first of all there's no private right about action for example if you have a situation where you believe your privacy and data has been breached you're going to have to look at state remedies under state contract laws under the act itself you're going to have to go and make a complaint to the f.t.c. and they're going to have to take action against that firm so right now. are looking at remedies which are not as robust as we're finding under g.d.p.

you know big of g.d.p. our i know you told us last time you were with us that part of the goal was to harmonize throughout the twenty seven twenty eight member and you member states had some consistency when i was doing financial regulation one of the goals we had was to try and make it roughly can comment us regulations with other things or have others and delayed us what about this law is there any language in it that might be similar to g.d.p. are there is so i was with you before we talk about article twenty two right you know the famous article twenty two that says that firms in the european union cannot use your data aggregated to market to you so we have the same thing here we don't use the term aggregate we use the term a leverage but the same thing applies where advertisers cannot use that data for their purposes now we have for the other areas as far as the agreements and as far as what can be done with the data almost

harmonizes with the g.d.p. are but again you know the act is eighteen pages long g.d.p. or with sixty eight pages there's a lot that was just left out so by omission it's not going to look exactly like or have the forcefulness of the g.d.p. are miles before we go i want to ask you about your prognosis for this i mean it's an election year and there's not going to be much happening in congress with the midterm elections but what do you think's going to happen on this issue or right now the bill has gone nowhere hasn't even gone into committee were i think we're going to be going is that all the digital media firms through their trade organization which is the end in the media association will come together and form almost like a self regulatory organisation we're going to say we're the best people we're place best to enforce these privacy laws we have the technology and we have the money let us do it we already have a code of ethics we're down the path. that is a very promising model especially now where congress does not have to spend money

or tax or regulate and also another thing that's really important before we close is that there is really a mix consequence to this because of this act goes through and may drive up advertising revenues completely and what you may find yourself doing is now you're going to have to pay for what's been given to you free such as facebook twitter and linked in very interesting and that my one closing comment on these regulatory organizations miles because it you know they're in the financial sector i was in them and they can be really great things but if the industry does not move fast enough and set one of these things up then some other cambridge analytical circumstantial happen some other big bombshell and then you may have congress rush to judgment and pass a bill which probably won't fit very well that regard so they should get on it miles edwards global regulatory authority miles thank you great with your mother's art as always but. that's it for this time see you in twenty nine saying.

it's hard to imagine decades after the war a nazi don't tell was still active and rich in the nineteen seventies cretonne had as the chair of its bowed a man convicted of mass murder and slavery as a german company going until it develops in the denied a drug that was promoted as completely safe even during pregnancy it turned down to have terrible side effects what has happened to my baby if anything. yeah she said she's just. minix of it a mind victims have to this day you received no compensation they never apologized . for the suffering that i not only want the money i want the revanche.

join me every thursday on the alex i'm unsure and i'll be speaking to get a little bit politics small business i'm show business i'll see you than. anyone else so small seems wrong. but old rules just don't call. me old yet to shape our disdain comes to agitate and in games from an equals betrayal. when so many find themselves worlds apart we choose to look for common ground. nobody could see coming that false confessions would be that in this population reform for conviction if you look at any interrogation out there what you'll see is

threat promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make the most comfortable make them want to get out and don't take no for an answer don't accept their denials she said if our words are poor or a sad statement then i would be home by that time the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with all their crime. samiti. again it will eventually you'll be going to still.

need. something done in town because a few. bucks up with it could be you know what we've done to the dozens of young. the search continues for survivors of a deadly apartment block collapsed in the russian city of magnitogorsk on monday seven people died and dozens more are still unaccounted for freezing temperatures are diminishing hopes of finding anyone alive. the united states exit the un's culture and heritage wing the latest in a string of international law called for balance by the trump administration. the french president takes a swipe at extreme elements among anti-government demonstrators in his traditional new year's eve speech. and the world over people have been ushering in

twenty nine twenty nineteen with celebrations now through.