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Old 07-26-2013, 05:14 PM
Weebitty's Avatar
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Question Can Anyone Verify This New Law?

I Received an e-mail which I will copy and paste here about a new law going into effect on Aug 1 2013. It says that it was on Fox News but I can't seem to find anything concerning it. Can anyone shed any light on this? Thanks in advance.

I am not sure if many of you heard the latest news that was released on FOX News
that USA has implemented a NEW LAW that will come into the effect starting in August 2013.

I was kind of shocked when I had received the phone call explaining that to me.
Canada is to be followed (as usual) with any changes that USA implies.

In short form what it is:

ALL HYIP (High Yield Investment Programs) that offer any kind of % (percentage)
of $ (dollars) returned within specific time will be ILLEGAL.

Any REVENUE SHARE opportunities that offer some kind of % (percentage)
of $ (dollars) returned within specific time will be ILLEGAL.

There will be some kind of exceptions to certain types but I do not have those details yet.

Anyone who is the owner of such opportunity or belongs to it or promotes or signs up,
will be heavily fined and/or could be even imprisoned.
 
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Old 07-26-2013, 07:02 PM
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Haven't heard anything and apparent Google hasn't either. After searching and seeing some of the ridiculous offers I feel fairly comfortable in saying that most of those violate one or more existing laws anyway.
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Old 07-27-2013, 04:28 AM
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I searched Google and still searching about that but I haven't found it yet. But is it not the duty of government to promote free trade. Free trade means all persons have a right to engage in any activity for profit for as long as it is not contrary to law. Perhaps you might be referring to Usury law. An old law which penalizes persons or corporations who impose excessive interest on loans. Excessive interests is defined by practice and customs in case of an absence of a law penalizing it.
I am not an American but I read that each State in the US has a right to enact their own Usury law. Usury law to be exact is a regulations governing the amount of interest that can be charged on a loan.
The new law mentioned above might be about this.
 
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Old 07-27-2013, 11:02 AM
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Thanks for looking too. I have tried to find something out about it also and no luck. I thought maybe there was someplace I hadn't tried yet. Thanks for the replies
 
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