Listen: Bloomberg, Nydia Velazquez, Roger Marshall discussed on Bloomberg Best
"Business report, I'm John Tucker, US representatives, Nydia Velazquez, and Roger Marshall have called for a ban on a legal tactic that predatory lenders use to seize money from small businesses matching a bipartisan Bill that was introduced in the Senate Velazquez, a democrat from New York and Marshall a Kansas Republican introduced legislation that would ban confessions of judgment. These are legal documents that many financial firms offering quick money require customers to sign to get their loans by signing the borrowers many of them small businesses forfeit their right to defend themselves in court allowing lenders to seize their assets before they know what happened. The Bill was introduced after Bloomberg reported. How lenders using confessions of judgment to squeeze small business owners the borrowers described lenders who forged documents lied about? How much they were old or fabricated defaults at thin air. And that's the Bloomberg small business report. This is a Bloomberg market minute. Not a strong start to earning season. The stock averages fell about a third to one percent. The Dow down eighty six the NASDAQ sixty six the S and P fourteen Paul Nolte. If kingsview asset management says investors are worried about global growth the data coming out of China. And the fact that their economy is continues to slow down city grew kicked off earnings season with a revenue miss, but shares gained after execs said the trading environment is improving the California utility that's actually the nation's largest by number of customers is getting ready to file for bankruptcy because of liabilities linked to wildfires in the past two years. It doesn't look as if state officials are rushing to bail out Pacific Gas and electric, but one expert says the state is a stakeholder and should be in on any deals with creditors. Proctor and gamble is turning its advertising slogan for Gillette the best man can get aimed at changing social Moore's Dow Jones says it addresses toxic masculinity. I'm Joan Doniger blue. Lemberg radio to be."