首页
登录
职称英语
We usually think of payday lenders, pawn shops(典当行)and other high-cost loan
We usually think of payday lenders, pawn shops(典当行)and other high-cost loan
游客
2023-08-12
74
管理
问题
We usually think of payday lenders, pawn shops(典当行)and other high-cost loan operations as alternative forms of financing for people who are short of cash. But that’ s merely a false appearance: They couldn’ t operate without billions of dollars in cheap capital from the nation’ s biggest banks.
It starts with some history: Back in the 1980s, the Main Street emergency lenders were fairly small and largely independent businesses. But then they started consolidating, looking for access to capital markets in order to deepen their liquidity and finance expansion. Cash America went public in 1987, and others followed. Banks took notice and started investing in what was becoming a profitable, highly reproducible franchise. The result is that while pawn shops and payday lenders charge high interest rates to borrowers, banks lend them money at standard business rates.
The big high-cost lenders are up front about their dependence on Wall Street credit. " We depend on loans and cash management services from banks to operate our business," said Kansas-based QC Holdings in a 2012 filing. "If banks decide to stop making loans or providing cash management services to us, it could have a material adverse effect on our business, results of operations and financial condition. "
But the banks themselves don’ t talk much about it—even though many of their executives sit on the boards of the companies, they keep rolling in cash. The irony is that some customers are driven to the high-cost loan industry precisely because they can’ t get credit through traditional channels. So the big banks benefit on both ends: They avoid taking on risky borrowers themselves , which preserves their reputations, while indirectly profiting off the exorbitant(过高的)interest the Main Street lenders charge.
Reinvestment Partners, a North Carolina-based non-profit that advocates for the underbanked, put out a report Monday laying out how the system works and just how much money flows through it. "This paper is the kickoff point. Then go and make specific entreaties(恳求)to various banks, to find out why you think you’ re doing this, if you intend to keep doing this," says research director Adam Rust, who thinks bank sought to divest(放弃)high-cost lenders entirely.
But high-cost lenders are entirely legal, and banks are disinclined to take their money out of circulation for debatable points of morality. So if that fails, Rust says he’ 11 ask the banks’ regulator, the Office of the Comptroller of the Currency to ban the practice of financing high-cost loans. That’s a tall order too, given that cutting small lenders off from the capital markets would effectively put them out of business altogether—which a regulator would think really carefully before doing. [br] What does it mean by saying "many of their executives sit on the boards of the companies"?
选项
A、The executives of some banks are also directors of some lenders.
B、The executives of some banks often write to the leaders of some lenders.
C、The executives of some banks often visit the office of some lenders.
D、The executives of some banks hope to work in companies.
答案
A
解析
根据题干中的关键词executives,boards of the companies,将本题定位于第4段。该段说,银行的许多高管尽管坐在董事会的席位上,仍然能够让钱财滚滚而来。其潜在意义就是,银行的许多高管也是一些贷款机构的领导,故答案为A(一些银行的高管同时还是一些贷款机构的董事)。
转载请注明原文地址:https://tihaiku.com/zcyy/2920669.html
相关试题推荐
[originaltext](16)TheUShousingsectorusuallyleadstherestoftheecon
[originaltext](16)TheUShousingsectorusuallyleadstherestoftheecon
Farmersusuallyuseploughstopreparetheirfieldsforplantingcrops.Plou
Farmersusuallyuseploughstopreparetheirfieldsforplantingcrops.Plou
Farmersusuallyuseploughstopreparetheirfieldsforplantingcrops.Plou
Farmersusuallyuseploughstopreparetheirfieldsforplantingcrops.Plou
Farmersusuallyuseploughstopreparetheirfieldsforplantingcrops.Plou
古代帝王们通常通过建设大型的水利工程来巩固他们的统治。Ancientemperorsusuallyconsolidatedtheirreignby
[originaltext]M:Hi,Jenny.CouldIborrowsomemoneyuntilpayday?W:Uh,yeah
[originaltext]M:Hi,Jenny.CouldIborrowsomemoneyuntilpayday?W:Uh,yea
随机试题
Supermarketsaretryingoutnewcomputersthatmakeshoppingcartsmoreintel
HistorytellsusthattheoriginofSantaClausbeginsinthe4thcenturyw
【B1】[br]【B3】A、whereverB、wheneverC、whoeverD、whateverB此处引导词引导的是时间状语,故选whenev
[originaltext]Howmuchlivingspacedoesapersonneed?Whathappenswhenh
一、二级耐火等级地下或半地下仓库存放丁类物品,每个仓库防火分区的最大允许建筑面积
距离向量路由算法是RIP路由协议的基础,该算法存在无穷计算问题。为解决该问题,可
与子宫肌瘤关系不甚密切的是A.不孕 B.反复早期流产 C.排便困难 D.贫
审计机关对被审计单位违反国家规定的财政财务收支行为,依法做出处理处罚的书面文件是
关于社会服务机构,下列说法不正确的是()。A.社会服务机构的主要资金来源主要是
治疗脑水肿的首选药是A.甘露醇 B.螺内酯 C.呋塞米 D.氯噻嗪 E.
最新回复
(
0
)