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Verification Platform Leaks Covid-19 Loan Functions From Bank of America Buyers | Zoom Fintech


Bank of America revealed that it briefly discovered that the Corporate Buyers Paycheck Security (PPP) program was working at outdoor events after importing the documents to a testing platform.

The incident bears similarities to the latest information from no less than states mistakenly exposing software information associated with the Pandemic Unemployment Assistance Program (PUA).

PPP and PUA applications were established by the 2020 CARES (Coronavirus Assist, Reduction, and Financial Safety) law to help ensure the financial security of certain businesses or employees during the Covid-19 pandemic. Experts said the PUA breaches were largely the result of overburdened governments quickly supporting ISPs with a large influx of functions – and it’s possible the Bank of America’s information leak was been caused by similar factors.

In response to BofA, he has worked in recent weeks with the US Treasury and Small Business Administration (SBA) to perform more than 305,000 functions for the business loan program. We do not say how many of these functions have been affected.

“From what I see, it doesn’t appear to be a breach of the security or integrity of the site itself as nothing has been broken. Rather, it is an example of lax or not completely thorough business processes that ended up revealing more information than necessary to parties who should not be aware of that information, ”said Dmitriy Ayrapetov, vice president. of the platform structure at SonicWall. “It is unfortunate, but expected, as companies and banks are rushing towards these programs.”

In a formal investigation into the breach of information submitted to affected clients and the California Attorney General’s office, the financial institution said the platform was designed to verify software submissions to the Small Enterprise Administration. before officially sending them to the SBA.

However, while performing such checks on April 22, Bank of America realized that its buyers’ documents can be considered by different lenders and their distributors who have also been authorized to use the platform. . The bank assured customers that the data was on the way to the platform shortly and that there is no reason to consider opposing lenders and distributors to have misused the leaked documentation.

“This type of breach … is ‘better’ than a breach in which attackers with malicious intent steal information through application insecurity and inadequate protection,” Ayrapetov continued. “As we have seen with Covid-19, as well as other global events, there is always an eruption of people trying to exploit a situation. Fortunately, this particular case does not appear to be this type of violation and should allow the SBA to look for similar issues in its process with other banks.

The information uncovered included information associated with the applicants’ businesses – as well as addresses, mobile phone numbers and tax identification numbers – in addition to private details equivalent to names, home addresses, social security numbers, telephone numbers. cell phone, email addresses and citizenship status.

In response to the incident, BofA mentioned that affected buyers are entitled to 2 years of free identity theft security monitoring and credit report.

Everything you need to know about payday loans UK


Payday loans are short term loans that support an individual’s cash flow during tough times. Although they are easy to obtain, the interest rates associated with these loans are high. But in recent times, when survival has become very difficult, thanks to COVID-19, more and more people in the UK are considering taking out payday loans to meet their daily needs. Payday loans are considered the last resort when looking to borrow money. Still, a payday loan can help keep you afloat if you’ve recently lost your job or your business has put you on leave.

But, before you take out a payday loan, you should try to learn as much as you can about how payday loans work, how to get one, and what will happen after you get one. Since they are readily available on many websites and big box stores in the UK, it is common to feel overwhelmed as to which to choose.

To help you out, we’ve created a comprehensive guide where we’ll discuss everything you need to know about payday loans, including how they work.

Let’s go right in.

What is a payday loan and how does it work?

A payday loan assumes that you are in desperate need of quick cash, which you will need to pay off on your next payday. In tough times when you have no other option, payday loans come in handy. At first glance, a payday loan works the same as any other loan. You will visit a financial institution or website, complete the loan application, and if the lender approves it, the money will go into your account. However, this is where the similarities end.

In the case of a UK payday loan, you will have to repay the loan quickly, basically within 30 days or your next payday. In other words, once the client receives his salary, he uses it to pay off the entire payday loan. Usually the loan amount is lower and the amount is around your monthly salary. But, you can also take a larger sum if it is so urgent. However, be aware that taking out a huge payday loan can trap you in a cycle of debt. So it is important to do your research and do your due diligence before finalizing a lender, to shop around for the best deals at the cheapest fees, here is a good review of the best payday lenders in UK.

If it’s a large amount, paying off the loan all at once could inevitably leave you in trouble the following month. In some cases, people take out another payday loan to manage their expenses. So shop around to find the best deals.

Payday loans are very short term loans repayable within 1 to 2 months.

Why are payday loans so popular in UK?

The main reason that payday loans are so popular is that they are often quick. This type of loan is approved the same day and the money is deposited into your account within the first few hours of approval. Compared to other types of loans, the approval of which can take weeks or months, payday loans offer a quick and easy solution to an emergency.

Lenders are also keen to help people with loans in the current situation where people have lost their jobs, the economy is down and there is no clear picture of what our future will be. That being said, your lender might agree to temporarily suspend or reduce your payments.

What if I can’t repay my payday loan because of COVID-19?

You can get help if COVID-19 made it difficult to pay off the payday loan or to pay off something you bought on loan like furniture, appliances, a car, etc.

You may be able to suspend or reduce your payments. Additionally, you might be able to stop taking back something that you bought on finance.

You can contact Credit Union if you cannot repay the loan. They will help you manage your late repayments by:

  • Help you set up a repayment plan to pay off what you’ve borrowed
  • Stop adding interest rate to the loan for a limited period of time
  • Suspend or reduce your payments for a limited time

Things to consider before taking out a payday loan

There are several factors that you should consider before taking out the payday loan. If you want to make a smart purchase, here are the best practices to follow:

  • Look for the best deal and be sure to compare the deals with each other
  • Find out if the lender gives you an overview of the loan you are taking out, such as its features and benefits
  • Find out what the late repayment procedure is if you are unable to repay the loan on time

Final words

Payday loans are proving to be the go-to financial aid people are taking in the midst of the pandemic. Buy only from a trusted lender and read the loan terms and conditions before signing the agreement with the lender.

Mulvaney’s early days at CFPB: payday, staff and prank


WASHINGTON – CFPB Acting Director Mick Mulvaney on Monday approved a Congressional effort to overturn the agency’s short-term lending rule, revealed plans to install more politician appointees in the agency and recognized a possible prank played against him.

During a briefing with reporters, Mulvaney said he asked legal staff to tell him if the agency could revamp the recently finalized short-term lending rule, but acknowledged that this may not be possible.

“It was pretty far by the time we got here,” said Mulvaney, who heads the Office of Management and Budget and was appointed CFPB acting director last week. (Her leadership is still the subject of a legal challenge by Deputy Director Leandra English.)

But Mulvaney has made it clear that he supports a House effort introduced Friday to overturn the CFPB rule through the Congressional Review Act, a law that gives Congress 60 sitting days to overturn a settlement via a majority vote.

“I would support Congress to move forward with the Congressional Review Act,” said Mulvaney, a former congressman from South Carolina.

Mulvaney said he spoke to Rep. Dennis Ross, R-Fla., Who co-sponsored the bill, with Rep. Tom Graves, R-Ga .; Alcee Hastings, D-Fla .; Henry Cuellar, D-Tex. ; Steve Stivers R-Ohio; and Collin Peterson, D-Minn.

It is “the most suitable place … for Congress to deal with it through” a Congressional Review Act resolution, Mulvaney said.

Mulvaney has quickly taken control of the agency since President Trump appointed him acting director on November 24. Although he said the transition went smoothly, he acknowledged that there could be some bitter feelings on the part of the staff.

He revealed that over the weekend he called building technicians because it was too hot in his office.

“It was 80 degrees on Saturday and we called HVAC to take a look and they said, ‘Mister Manager, we don’t know what the problem is. All the thermostats are working except yours and there is a security code and no one knows what the code is, ”Mulvaney said.

When asked if this was an elaborate prank, he replied that “the thought crossed my mind.”

But Mulvaney plans to stick around for the long haul. He told reporters he could legally serve as the bureau’s acting director for up to 210 days. He plans to run the agency for five to seven months because it took a long time for the Trump administration to nominate new candidates and for the Senate to approve them.

Last week, Mulvaney announced a freeze on hiring, enforcement and policy development. He said he plans to review future enforcement actions on a case-by-case basis, but that will take time. There were over 100 pending cases, including completed investigations and others already underway.

“I look at each of them on an individual basis,” he said.

In addition, Mulvaney halted the CFPB’s collection of anonymized data from consumers. Republicans like Senate Banking Committee Chairman Mike Crapo have argued it poses a security risk.

As the Trump administration continues to put its seal on the agency, more politician appointees will be seated in the office, Mulvaney said.

Brian Johnson, a former member of the senior management of the House Financial Services Committee, is already in the office to help with day-to-day operations. Mulvaney’s chief of staff, Emma Doyle, divides her time between the management and budget office and the CFPB.

Mulvaney said he plans to “marry the most senior member of staff” in each CFPB division with a politically appointed person.

“There are 1,600 people working here, which maybe tells you that they didn’t think they needed to have political people here because a lot of people here were political anyway,” he said. he declared.

Mulvaney said English, who is CFPB’s deputy director and claims she is legally the acting director, works in a separate office. She sent out three emails asserting herself as the interim director. Mulvaney said he told her by email not to do so and asked her to perform specific duties related to the deputy director position. However, he did not speak to her in person, citing that he is a named person in the filed English lawsuit.

Despite the battle for office leadership and the possible prank in his office, Mulvaney said staff had supported him.

As head of the CFPB, Mulvaney will also serve on the board of directors of the Federal Deposit Insurance Corp. and the Financial Stability Oversight Council. He said he plans to be an “active participant” in both despite his temporary status. However, Mulvaney said he had not discussed the regulations with other agencies.

“All of our conversations to date have been internal here at CFPB,” Mulvaney said.

He stressed, however, that the regulations promulgated by the CFPB under the Trump administration will be different.

“You can imagine that the Office of Management and Budget under the Trump administration could look very cautiously, even cynically, against the rules that were produced by” former CFPB director Richard Cordray, Mulvaney said.

Still, he said he had yet to chart a course for the office.

“I’m trying to figure out how to articulate how things are going to be different,” he said. “This is really what I need to set aside a little time to do quite quickly. “

Panel examines $ 60 million short-term loan for government VI

Government finance officials, from left to right, the Executive Director of the Public Finance Authority, Kirk Callwood Sr., the Director of the Office of Management and Budget, Jenifer O’Neal, and the Director of Administration and Finance Authority of Public Finance, Nathan Simmonds, testify at Monday’s financial hearing. (Photo by Barry Leerdam, USVI Legislative Assembly)

The Senate Finance Committee worked on the details of a potential $ 60 million loan deal with FirstBank Puerto Rico and Banco Popular de Puerto Rico to fund specific government operations and mitigate revenue losses caused by the new coronavirus.

Governor Albert Bryan Jr. requested the income anticipation note, which would be set at an interest rate of 5.5% to be repaid in 12 months.

Under the bill, the money would create working capital to help the government avoid employee layoffs, pay obligations and cover operating expenses for fiscal 2020.

Senator Kurt Vialet said the bill could be ready for a vote by Thursday, but at Monday’s hearing, senators told government finance officials they were not happy with the loan terms and urged them to push for “fair banking treatment”, something Vialet said the territory was unaware of.

Public Finance Authority director of administration and finance Nathan Simmonds said the two banks were asking for $ 2.5 million each to be set aside as a reserve for debt service. The banks also wanted the government to waive its right to sovereign immunity, under which the government would be immune from prosecution.

The chairman of the finance committee, Senator Kurt Vialet, is leading Monday's discussions.  (Photo by Barry Leerdam, USVI Legislative Assembly)
The chairman of the finance committee, Senator Kurt Vialet, is leading Monday’s discussions. (Photo by Barry Leerdam, USVI Legislative Assembly)

However, lawmakers have been informed by legislative legal counsel that there is no sovereign immunity which the government can waive, and that the stipulation is in violation of the revised organic laws; the government can already both sue and be sued.

Office of Management and Budget Director Jenifer O’Neal said that due to concerns raised by the Federal Emergency Management Agency and the US Treasury during banking negotiations, two items were also removed from the proposed transaction. The items removed were terms that pledged federal grant funds as a source of repayment and a pledge of general obligation from the Virgin Islands government. With these adjustments, O’Neal said she anticipates FEMA and the US Treasury will give final approval, as required by the existing community disaster loan agreement.

Vialet argued that the additional measure and the language used gave the impression that financial institutions did not trust the USVI government to pay its debts.

“They act like we don’t have any investment in their institution when we have millions of dollars in Banco Popular and FirstBank, but they come up with this draconian language as if the government of the Virgin Islands intends not to pay “, did he declare.

Pressed by Vialet, Public Finance Authority executive director Kirk Callwood Sr. and O’Neal said that as part of the working relationship between banking institutions and government, the government has never defaulted on a loan , made a late payment or not refunded the rent.

Part of the “safety package” that banks are asking for is a statutory lien that was set as a precedent in 2016 with regard to an increase in the gross revenue tax.

“Banks… have seen it as a very important feature of the security package they want,” said Roger Bagley, legal adviser to the Public Finance Authority.

But Vialet said it was like the banks needed all of these security measures because they believed the government wouldn’t settle all the payments.

“We have millions of dollars in these accounts. There has to be some leverage for us to have that money in their accounts. For them to act like we are an outside entity that is not well invested in them is really crazy… Maybe the pushback argument has to be, you are working with us or we are taking all our money from your bank, and we are putting it elsewhere that does not have these draconian measures, ”said Vialet.

Callwood said much of the additional security measures the banks put in place in the loan were tied to the government’s current rating of the market, as well as the current state of the market as a whole, which have both hit hard due to COVID-19[FEMININE[FEMININE

O’Neal said, conditions aside, the government will struggle to make its $ 20 million payroll every two weeks for the next few months without a loan.

O’Neal said the coffers only contain enough for the upcoming July 2 payroll and the government is working on the July 15 payroll. If taxes are collected on July 15, there will be enough for the last July pay. Beyond that, a loan will be necessary, she said.

The committee did not make a final decision on the loan at Monday’s hearing, but the committee plans to reconsider it this week.

All committee members – Sens. Vialet, Janelle Sarauw, Marvin Blyden, Oakland Benta, Allison DeGazon, Dwayne DeGraff and Donna Frett-Gregory – were present at the hearing.

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Coronavirus shakes VP Bank’s loan portfolio


The coronavirus requires a larger valuation adjustment of VP Bank’s loan portfolio – due to an individual position of around 20 million Swiss francs.

The extent of the impact of the coronavirus on society and the economy, and therefore also on financial markets, is becoming increasingly clear.

High market losses over a very short period of time and extremely high volatility never seen before puts a strain not only on the financial market as a whole, but also on the VP Bank Group. For now, however, the coronavirus crisis is leaving a mark on the VP Bank group’s loan portfolio, requiring a larger valuation adjustment from an individual position of around 20 million Swiss francs, the bank said on Monday.

Additional stress tests on outstanding loans that have been steadily executed over the past few days currently show no additional need for provision, the bank said. The quality of the VP Bank Group’s loan portfolio remains high, according to further information.

Due to the uncertain situation surrounding the coronavirus, the bank cannot make reliable forecasts on the development of the financial markets and therefore on the annual results, the lender said.

“However, we can now say that apart from this larger valuation adjustment on an individual position in the first quarter of 2020, VP Bank Group posted overall satisfactory results. We are particularly satisfied that due to the essentially defensive orientation of the portfolios, asset management has so far performed well compared to the rest of the sector, ”added the firm.

PayPal will give you a two-week interest-free loan

Image from article titled PayPal will give you a two-week interest-free loan

the latest service from PayPal, Pay after delivery, give people up to 14 days to pay for things they buy.

This means that you can get a two week loan from PayPal to make various purchases at no additional cost from the online payment company (although the fine print indicates that third parties may charge you). This doesn’t mean that you can get hard cash from PayPal, but you can make some pretty big purchases as the spending limit can be up to $ 10,000.

To use Pay After Delivery, you must give PayPal a valid bank account number, and it will attempt to debit that account after 14 days have passed. If you don’t have enough money, the remaining debt will be transferred to your PayPal account, credit card, or other debit card.

PayPal is one of the grandfathers of online payment, but the competition is getting fierce because mobile payment services like Apple Pay and Google Wallet make it easier to use bank cards in a digital environment, and old add-ons like Etsy are rolling out their own payment options. It’s a way for PayPal to offer something new again.

Pay Pal announcement Pay After Delivery at a payment event in Las Vegas, and it also unveiled a new partnership with Burger King that will allow people to pay for their fast food in advance with PayPal. So if Burger King is also down with Pay After Delivery, you will be able to get a 14 day loan from PayPal to buy up to $ 10,000 from Whoppers. [VentureBeat]

Families in financial difficulty can get help from the credit union’s new £ 300 loan program, CLEVR Money


The costs for families can be high, especially after spending Christmas.

And now, with jobs affected due to the coronavirus pandemic and children at home rather than school, there are more meals to be provided and the resources needed to keep them educated.

Register now to our daily newsletter

The newsletter i cut through the noise

Anthony Brookes and Jackie Colebourne, CLEVR Money managers

Finances can become strained to cover even some of the basic costs, which is why local credit union CLEVR Money has launched the new Family Booster, a £ 300 loan to help

The Family Booster is available to existing and new members of credit unions without a credit check and is repayable using their family allowance payment.

Applying can be made online, and becoming a member of a credit union just means filling out a form, as long as you live or work in the Blackpool, Fylde, Wyre or Preston area.

Because it is repaid using family allowances, which are automatically linked to the loan, there is less risk of default.

This regular loan repayment also helps members improve their credit scores, which would help them if they were looking for a larger loan in the future.

The Family Booster is available to anyone on family allowance and is particularly useful for people who cannot access affordable credit elsewhere.

Bank loans and credit cards are not always available to everyone, which often causes people to consider using payday or home lenders with their very high interest rates and

The Credit Union is here to provide an ethical alternative, with fair and affordable loans for people in our local community. Call (01253) 478827 or visit clevr.money

Thanks for reading. If you enjoy what we do and are able to support us, a digital subscription costs just £ 1 for your first month. Try us today by clicking here

Bitfinex Says It Repaid Tether For $ 550 Million Loan To Center of NYAG Probe


The crypto exchange Bitfinex claimed on Friday that it had repaid the remaining balance of a $ 550 million loan to its sister company, Tether, the issuer of stablecoin tether (USDT).

In 2018, the exchange borrowed more than $ 600 million from Tether, with which it shares management and ownership. The transaction was made public in April 2019 after the New York Attorney General’s Office (NYAG) alleged that Bitfinex had lost $ 850 million in customer and business funds to payment processor Crypto Capital Corp. , and had used funds from Tether’s reserve to secretly cover the shortfall.

Bitfinex had previously announced the repayment of certain installments of the loan.

Related: Bitcoin hits new high of over $ 43,000 on Tesla News

The final payment was made in January and the line of credit opened by Tether in 2018 was canceled, according to the Bitfinex website.

As of April 30, 2019, USDT stablecoin was only backed by around 74% fiat equivalents, according to Tether General Counsel Stuart Hoegner due to the loan and line of credit that Tether opened. to Bitfinex to cover lost funds. Hoegner is also the general counsel for Bitfinex.

But Tether’s Bahamian-based bank Deltec said late last month that Tether stablecoin is fully backed by reserves and the reserve “is more than what’s in circulation.” The bank did not produce a certificate or audit from a neutral third-party auditor to verify the complaint.

Read more: Questions about Tether just won’t go away. Does the crypto market care? – CoinDesk

Related: Tesla invests $ 1.5 billion in Bitcoin, plans to accept crypto payments

Tether, the most widely used stablecoin, has a total market cap of $ 28.31 billion at the time of writing. Glassnode data shows Tether’s market cap has more than doubled in just five months.

CoinDesk has contacted Deltec for confirmation of the loans paid. At the time of going to press, Deltec had not responded to CoinDesk’s requests for comment.

Related stories

OCC presents risk management guidelines for loan procurement activities


On September 10, the OCC published Bulletin 2020-81 to discuss the principles of sound risk management regarding loan purchasing activities. The OCC reminded banks that loan purchasing activities “are subject to certain regulatory standards and long-standing risk management guidelines” and that banks are expected to engage in these activities “in a safe and sound manner. and in accordance with applicable accounting standards, laws, and regulations. Banks should also ensure that loan procurement activities align with strategic plans and are supported by strong risk management systems, added. OCC. The Bulletin includes examples of sound risk management of loan procurement activities, such as (i) developing well-defined strategic plans; (ii) performing underwriting analysis and loan due diligence. prior to purchase; (iii) assess how loan purchasing activities may affect “credit, strategic, reputational, interest rate, liquidity, compliance and operational risks”; and (iv ) sat down rer that policies and procedures “support effective processes for engaging in loan purchasing activities”. Other topics covered include credit administration, such as due diligence and independent credit analysis, loan portfolio and pool purchases, and recourse terms. The OCC also stressed that, because the entry into new, modified or expanded products or services can change the risk profile of a bank, “the management of the bank must engage in sound risk management. to identify, measure, monitor and control the risks associated with new loan purchasing activities. . “

New salary, securities lending clients get a discount | Business Free


At the Missouri Loan Center and Missouri Gold & Silver, Director Stacia Barton is ready to help whether someone needs an emergency loan to pay a bill or has jewelry ready to sell.

Barton said she can help people who don’t have credit for traditional loans get the money they need to pay an electric bill, see the doctor, or put a new tire on a car. She said the Missouri Loan Center gives people a way to take care of emergencies without having to pay for everything at the same time. Barton’s goal is also to provide excellent service to all of its customers.

“I try to treat my clients the way I would like to be treated,” she said.

When clients apply for a loan, they must bring their driver’s license, social security card, proof of income, and proof of residence. Payday loan clients are also required to bring their two most recent bank statements – a total of 60 days worth – along with a personal check. Payday loans can be up to $ 500.

Title loan clients must also bring the vehicle, title, an additional set of keys, and anyone named on the title as the owner. Securities loans are available up to $ 5,000.

She said the application process is quick and easy, and that she will not grant a loan that exceeds a client’s repayment capacity. Missouri Loan Center offers payday loans for 14 to 30 days to title loans for up to 12 months. Barton will also look at all types of income, such as social security, disability, and unemployment.

Missouri Loan Center is now offering new customers who mention this item 10% off their first month’s finance charge.

For those who need a little extra cash that they won’t have to pay back, Missouri Gold & Silver purchases unwanted or broken gold, silver, or platinum jewelry as well as antique coins dated 1964 or more for quarters, cents and half dollars or 1936 or older for silver dollars.

Missouri Loan Center also offers a sponsorship program. Barton explained that it doesn’t matter whether the referral is from a client or not, as long as the referral to the Missouri Loan Center becomes a loan client, they will give the person who suggested the Missouri loan $ 20 and the client will receive 10. percent off their first month’s finance charge.

Missouri Loan Center is located in the Cross Creek Mall off East Missouri 76. The center is open 9 am to 5 pm Monday through Friday and 9 am to noon on Saturday.

For more information, call 417-335-CASH (2274), email [email protected] or visit BransonMLC.com.

Hope Hicks $ 10million payday as editors scramble to sign her


Jerry Oppenheimer is a New York Times bestselling author whose latest book is The Kardashians: An American Drama. He has also published successful biographies of Hillary Clintn and Robert Kennedy.

No sooner had Hopes Hicks’ resignation been announced, a day after he testified “white lies” before the House Intelligence Committee, one of the New York publishing house’s most powerful editors was in touch.

He had an offer he hoped Hicks wouldn’t refuse: $ 10 million to write what has been described exclusively to the Daily Mail as “candid, truthful and sensitive revealing of his life in Trump Land – the good, the bad.” and the ugly ”. ‘

Shortly thereafter, the 29-year-old White House communications director – one of President Trump’s closest and longest-serving advisers said he knew him better than any White House collaborator – was contacted. by a Hollywood producer-writer with platinum credentials.

Former communications director Hope Hicks was offered a $ 10million book deal when she left the White House

Hicks, who turns 30 next October, revealed she was leaving the White House on Thursday.  She is Trump's oldest surviving assistant and helped guide his first restricted campaign operations after working for the Trump Organization.

Hicks, who turns 30 next October, revealed she was leaving the White House on Thursday. She is Trump’s oldest surviving assistant and helped guide his first restricted campaign operations after working for the Trump Organization.

A source close to the communications, who requested anonymity, was told what the Hollywood greats had said:

“What would it take to make your story as a mini-series or on the big screen?” I can get the funding, like tomorrow, and make you rich and even more famous. You have an incredible story. Let’s talk!’

And since then, Hick has been inundated with messages offering millions of dollars in advances on book deals from major publishers, and offers from Hollywood to do biopics on his glamorous and scandalous political life.

As a managing editor told DailyMail.com, “Next to Ivanka and Melania, Hope is the president’s closest woman and knows all the secrets, all the weaknesses, all the quirks.

“She’s also the most glamorous woman in the White House since Jackie Kennedy. Her story will be a blockbuster. I have the power to offer her a $ 10 million advance, and we’re open to negotiation.”

Powerful New York literary agent Eric Myers told DailyMail.com that Hicks could easily get a $ 10 million cash advance: “If she really promised to open the doors wide and say it all.

“However, that may not be likely as she is a close friend and longtime supporter of Trump, and may not be inclined to do so. In addition, there would undoubtedly be legal issues. and national security to weigh.

“If a book were to arrive, it would likely be auctioned off with major publishers, which would be a key factor in driving up the amount of the advance.

Another prestigious literary agent who has represented Pulitzer Prize-winning political journalists, among other famous and famous clients – and receives a fifteen percent commission on every book sold – told DailyMail.com: “Hope Hicks was a Washington star.

“I always saw a book from her when the time was right. Now the time has come. Overnight, she became a potential gold mine.

Her departure comes weeks after DailyMail.com revealed she was in love with another trusted key Trump aide, White House Secretary of Personnel Rob Porter, 38.

Her departure comes weeks after DailyMail.com revealed she was in love with another trusted key Trump collaborator, White House Personnel Secretary Rob Porter, 38.

“An advance of $ 10 million is not out of the question for her to tell the true and untold story of life in the White House of Donald Trump and in his inner circle. She probably knows more than the first one. lady – about that, I wouldn’t be surprised.

“And I think everyone will be interested in the real story of his relationship with Trump. Is he a father figure to her – or something more? There is so much speculation about their relationship.

“Look, here is a beautiful young woman with no political experience who suddenly becomes one of the most influential women in the White House who has the President’s ear 24/7.

“Michael Wolff with his unauthorized developer sold something like 900,000 pounds, and that made him a millionaire, although there have been questions about some of his reporting.

But, the agent continued, Hope’s book would be the political blockbuster of the decade.

“Believe me when I say the publishing world and Hollywood are in a state of excitement to get her accepted and signed on the dotted line. I’d kill to have her as a client.

According to a White House insider, Hicks has kept what has been described as a “detailed diary of his work in the White House and his interactions with the president” secretly.

“The point is,” the source told the Daily Mail, “Hope is one of Donald Trump’s most loyal colleagues and friends. She is not the type to destroy this relationship.

“And she’s definitely under some kind of nondisclosure agreement. In addition, the various investigations of the special council and the congress could target it. She must therefore be very careful before embarking on transactions.

Yet others who have worked with Trump have already published books. The book by Corey Lewandowski, who had been Trump’s chief political adviser and campaign manager – “Let Trump be Trump: The Inside Story of His Rise to the Presidency,” was published in December and became a bestseller .

In February, after dining at Rosa Mexicano in Washington DC, Hicks and Porter were seen kissing in the back of a cab.

In February, after dining at Rosa Mexicano in Washington DC, Hicks and Porter were seen kissing in the back of a cab.

That same night, Hicks was seen getting out of the cab as Porter paid for the ride before they both entered Hicks' apartment at the end of the evening.

That same night, Hicks was seen getting out of the cab as Porter paid for the ride before they both entered Hicks’ apartment at the end of the evening.

Another longtime Trump adviser, Roger Stone, published “The Making of the President 2016: How Donald Trump Orchestrated a Revolution” in January.

And former White House press secretary Sean Spicer announced in December that he was writing a Trump reveal to the White House, telling Fox News star Sean Hannity: “I decided he it was up to me to set the record straight “.

And more such books are expected.

One, which could have major implications for the president, is due to be released on April 17 – by one of Trump’s biggest enemies – the former FBI director whom he sacked and sharply criticized – James Comey. Comey got a $ 2 million advance.

His book, “A Higher Loyalty: Truth, Lies, and Leadership” is already at or near the top of three of Amazon’s book categories, and is expected to be a # 1 bestseller when it hits bookstores.

Comey also plans to teach a course in ethical leadership this fall to his alma mater, William & Mary, according to the Washington Post.

Meanwhile, Michael Wolff’s book “Fire and Fury” is already on its way to becoming a TV series. The rights to the book were bought by Endeavor Content for seven figures, according to the Hollywood Reporter

Hicks, who turns 30 next October, had already made headlines just weeks before his testimony before the House Intelligence Committee.

In early February, DailyMail.com revealed that she had been romantically involved with another trusted Trump aide, the 38-year-old White House Personal Secretary Rob Porter.

Hicks reportedly ended the relationship when DailyMail.com revealed Porter had physically abused his ex-wives, forcing the disgraced official to also resign from his powerful White House job.

A photo of the ex-wife, one of whose eyes is said to have blackened during an altercation with Porter, has sparked outrage.

On Tuesday, Hicks made a nine-hour appearance before the House Intelligence Committee in connection with the Russia inquiry

On Tuesday, Hicks made a nine-hour appearance before the House Intelligence Committee in connection with the Russia inquiry

The scandal involving Hicks put her in the headlines – a woman who rarely appeared on television or gave interviews to reporters.

She came to work without any political experience, just like her boss, the President. Since 2008, she has been registered as a Republican. Trump once told GQ that Hicks “was able to gain experience quickly.” She was very natural when it came to picking it up, and a lot of people can’t pick it up, because it goes so fast.

GQ headlined the story, “The Mystifying Triumph of Hope Hicks, Donald Trump’s Right Hand Man”.

Prior to becoming Trump’s shadow and with a high-profile White House career, Hope Charlotte Hicks was a sportswoman – rowing, swimming and lacrosse – who grew up in Tony Greenwich, Connecticut.

Her recent revelation about telling white lies for the president wasn’t the first time she’s blundered with words.

In her high school yearbook, she attributed to Jimmy Buffet the words spoken by Eleanor Roosevelt: “The future belongs to those who believe in the power of their dreams.”

In 2011, she got a job at a New York PR firm and started working with Trump’s daughter Ivanka, which is how Hicks was introduced to Ivanka’s father, who later said : “I thought Hope was exceptional”.

Tall and gorgeous, she was once given the nickname “Hopesickle” by one of Trump’s circle members.

Her red carpet looks brought her to the attention of magazines such as Marieclaire and, following the scandals and resignation, Cosmopolitan.com.

Unsurprisingly, Hicks once told a hometown post that her only desire in life is to become an actress – a job she could now get if she accepts one of Hollywood’s deals – the possibility of staring herself in a big silver biopic about her life and time in Trump’s White House.

Payday Loan Lead Seller USA LeadsMarket.com Invite Lenders to Buy Leads


LeadsMarket.com Logo

LeadsMarket.com is a lead generation company focused on providing lenders with the best quality payday loans.

To generate quality leads on a large scale, LeadsMarket.com has developed level 5 quality control processes that are part of its proprietary lead generation technology called Optimo.

Optimo’s level 5 quality control process is a step-by-step approach to identifying and filtering out quality leads that works as follows:

Level 1: Consumers visit payday loan related websites and complete the application form in real time. There are a lot of technological measures in place to ensure that real people visit the website to fill out the form. Level 1 has an important geographic assessment to know if someone outside of the United States is filling out the form saying they are in Houston.

Level 2: The information provided by the consumer on the application is checked against several databases to ensure the validity of name, address, telephone, e-mail and other data.

Level 3: Optimo’s proprietary algorithm assigns an objective ranking to each prospect using their lead scoring model. If the lead’s quality score is low, the lead is rejected and is never sent to the buyer.

Level 4: The decision to accept or reject each lead is made based on the benefits to potential buyers and not on profit margin maximization. LeadsMarket.com always puts potential buyers ahead of short term profits and has logic built into its software that ensures this.

Level 5: Leads are reviewed and audited daily by our expert analysts who research trends in leads and consolidate feedback data from the primary buyer and internal call center responsible for enforcing quality.

To generate payday loan leads, LeadsMarket.com uses paid and organic search ads, banner ads, cost-per-view marketing, and other ethical methods.

Online payday lenders can contact LeadsMarket.com by visiting http://www.LeadsMarket.com/Contact-Us.aspx

About LeadsMarket.com

To learn more about the payday loan lead provider LeadsMarket.com, visit http://www.leadsmarket.com/payday-loan-leads.aspx

Media contact: Frank Kasimov


6130 Elton Avenue, Suite 386

Las Vegas, Nevada 89107

(888) 666-7058


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The Pros and Cons of Income-Based Student Loan Repayments


You have probably heard that there is a student debt crisis and many borrowers find themselves unable to land jobs that provide them with sufficient income to live comfortably while making their payments. Headlines are everywhere so it was hard to miss them. But, have you really dug into the crippling numbers?

The total amount of student debt currently held by Americans is rapidly approaching $ 1.4 trillion. When you actually write it down, that number looks like this: $ 1,400,000,000,000.00. It is quite difficult to understand so many zeros. Additionally, the Wall Street Journal reported that in 2015 7 million borrowers went 365 or more without making a payment. The US Department of Education cites the national default rate to be somewhere near 11.8%. Whichever way you cut it, it’s a big deal.

Fortunately, there are student loan repayment programs specifically designed to help borrowers who find themselves underwater. One of the most widely available programs is called Income-Based Repayment (IBR). So what is IBR and can it help you? Let’s take a look!

What is student loan repayment based on income?

Currently, borrowers have 4 options to repay their student loans on a schedule determined by their income. These are the Revised Pay-As-You-Go Reimbursement Plan (REPAYE), Pay-As-You-Go Reimbursement Scheme (PAYE), Income-Based Reimbursement Scheme (ICR) and Income-Based Reimbursement Scheme (IBR). While the benefits and eligibility requirements vary for everyone, the IBR is potentially the most useful for the greatest number of people.

With income-based repayment plans, you can reduce your monthly payments based on your current income amount and your family size. Depending on when you first borrowed the money, you may be able to pay off your loan over a period of 20 to 25 years rather than the standard 10-year period offered by standard repayment plans. Plus, your monthly payment amount is capped at 10-15% of your discretionary income – again depending on when you originally took out the loan. Once the 20 to 25 year period has expired, your loan balance may then be canceled, provided you have continued to make regular payments.

Who is eligible?

Of course, not everyone is eligible to take advantage of income-based repayment plans. To be eligible, you must follow certain guidelines. First, your new monthly payment must be less than the payment amount you would have to make under a standard 10 year plan. Otherwise, you would obviously not benefit from the program; thus, you are not eligible.

In addition, you must show proof that you are experiencing “partial financial hardship”. According to the US Department of Education, this means that your student loan debt must be “greater than your annual discretionary income” or that it “represents a significant portion of your annual income.” It all sounds good, but what does it actually mean?

To calculate your discretionary income, you need to take your Adjusted Gross Income (AGI) and subtract 150% from the poverty line. For example, in 2015, a family of four who earned $ 36,375 represents this line. So if the AGI for a family of four was $ 53,981, their annual discretionary income would be $ 17,606 ($ 53,981- $ 36,375 = $ 17,606). Capiche?

If you borrowed money before July 1, 2014, your monthly payments are capped at 15% of your discretionary income. However, if you borrowed after July 1, 2014, your maximum payment is 10% of your discretionary income.

Additionally, the IBR is only available to those with federal student loans. Income-based repayment options are not available for private loans. In addition, not all federal loans are eligible. Generally, only Direct Consolidation Loans, Stafford / Direct Loans, and Graduate Plus Loans are eligible.

Benefits of income-based repayment

There is a lot to like about joining an income-based repayment plan. If you’re struggling financially, here are some great reasons you might want to consider using IBR to pay off your student loans.

Lower monthly payments

Obviously, the biggest benefit of using an income-based repayment plan is that it relieves the high monthly payments that you might otherwise be required to make. You can use the IBR as a temporary measure to help you cope with your income crisis payments, or you may need to use an IBR plan for the entire 20 to 25 year period. Either way, the goal of income-based repayment is to help you meet your monthly repayment obligations.

Balance is forgiven

If you decide to stick with the income-based repayment plan for the life of the loan, the entire outstanding balance on your student loan will be written off at the end of the 20 to 25 year term. It’s huge… but you have to make regular payments throughout the process to take advantage of it.

Public service loan remission

If you have certain jobs in the public service, you may be able to use an income-based repayment plan to help lower your monthly payments. AND have your loan balance canceled much faster than others who are enrolled. In fact, if you qualify, your balance can be canceled in 10 years instead of the 20-25 years required for public sector employment.

Disadvantages of income-based reimbursement

Of course, with all good things, there are always downsides. Here are some drawbacks to choosing income-based student loan repayment.

  • Pay more in interest – By choosing the 20-25 year IBR plan, you will likely end up paying more interest. If you want to avoid this, you can always pay off your loans faster.
  • Pay tax on loan forgiveness – Remember that great loan forgiveness benefit? Well, there is no free lunch. The government considers this income, so you will have to pay tax on the amount of student loans you forgot. Granted, compared to what you actually owe, it might sound like peanuts. But, it’s still something you need to consider.
  • No more paperwork – To be eligible for the IBR, you must in fact prove that you are eligible. In addition to the documents required to apply, you will also need to provide your loan provider with permanent documents that document your annual income so that they can adjust your payment amount. If you don’t, your loan will automatically be reclassified as a Standard Loan – which can obviously lead to a big increase in your monthly payment.

Is Income-Based Student Loan Repayment Right For You?

To apply for an income-based repayment, simply complete the IBR Repayment Plan Application and IRS Form 4506-T and submit them to your loan service company. Once they have reviewed the documents, they will let you know if you are eligible.

As with any major decision, we strongly encourage you to weigh the pros and cons of IBR plans before deciding to sign up. However, if you are having difficulty making your loan repayments due to a shortfall, income-based student loan repayment plans are definitely something to consider.

If an income-based student loan repayment plan is not the right choice for you, or if you do not qualify, the next step may be to consolidate or refinance. You can usually consolidate your federal student loans as part of a new federal loan. This will not lower the interest rate, but it will put all of your loans under one bond, which may have a lower payment if you can extend the effective term.

Alternatively, you can consider a private student loan refinance. Not only will this allow you to consolidate multiple loans into one loan, but you may be able to get a lower interest rate. It can also reduce your monthly payment, especially if you extend the term of the loan.

An excellent source for refinancing a private student loan is through an online student loan marketplace known as Credible. At least 10 student loan lenders participate on the site, giving you the ability to get quotes and prequalification from several with just one application.

Learn more: Credible review

You will need to qualify based on your income and credit. But if you do, you can lower your effective interest rate, maybe even drastically. And that should also lower your monthly payment.

Payday Loan Company: “Help your mate get into debt and we’ll give you £ 20”



Speedy Cash Promotes ‘Bonus’ To Encourage Customers To Refer New Customers To The Lender

Incentive: Dalston High Street Quick Loans

A payday lender is offering £ 20 to troubled customers to train their friends to go into debt with them.

Speedy Cash promotes the “bonus” as an incentive for clients to refer new clients to the lender – just as struggling families turn to emergency loans as Christmas approaches.

In-store posters and flyers urging customers, “Send friends. Earn cash rewards, ”adding:“ For every friend you send to Speedy Cash we’ll give you £ 20. “

They show a person next to £ 20, two with £ 40, three by £ 60 with the words, “And so on. You got the idea. “

Desperate clients are hit with a representative APR of 2,115.69% on 30-day loans taken out.

Activists criticized the friend-referral program.

Stephen Sichel of London Citizens said: “It inspires people to exploit their relationships and get into debt with friends.

“People who feel the pressure this Christmas need support, not encouragement in cycles of debt. They exploit people’s vulnerability.

survey loading

Should there be stricter rules for payday loan companies?

Labor MP Paul Blomfield, who has campaigned for a crackdown on payday loans, said: ‘This is a nasty ploy. We have made huge strides in regulating this scam industry, but shameful tactics like this point to the need for strict oversight.

“Payday lenders are always looking for new ways to get people into debt. “

Speedy Cash, which has 23 branches in England and Wales, has come under fire from regulators for last Christmas ads offering children free photos with Santa Claus in store.

The company did not respond to requests for comment.

First Mutual Holding Co. marks its latest affiliation with the Warsaw Federal Savings and Loans Association of Cincinnati


First Mutual Holding Co. announced its latest mutual banking affiliation in combination with the Warsaw Federal Credit and Savings Association of Cincinnati.

The transaction is expected to close in the first quarter of 2020, subject to regulatory and member approvals. Being an affiliation among mutual banks owned by depositors, there is no money exchanged in the agreement.

Warsaw has two offices in the Queen City and approximately $ 56 million in total assets that will join FMHC’s combined assets of $ 2.1 billion.

“Warsaw Federal has a long history of community investment dating back to 1893. We were looking to strategically align with a like-minded partner to improve the products and services we provide to our customers and support our commitment to the community,” said said Warsaw President Richard. Flynn in a statement. “After careful consideration, we determined that FMHC was the ideal partner, offering both a closely aligned culture and a mutual shared mindset. We will continue to be a 100% mutual bank and operate under the name and charter of Warsaw Federal, with the same management team and employees, while receiving the substantial support and resources offered by FMHC to help us grow our business. and invest more in our neighborhoods in Greater Cincinnati. ”

The suit is also part of a succession plan for Warsaw, although Flynn has no plans to retire immediately. The bank will keep its current name and charter.

Warsaw adds a new presence for FMHC in Cincinnati. The holding company’s mutual banking subsidiaries now cover Ohio’s three largest subways with additional locations in Kentucky and West Virginia.

FMHC will benefit from the increased market presence and some additional strengths. Warsaw will benefit from the size of a larger parent organization, which will support new developments in areas such as technology and products.

“FMHC is dedicated to a unique mission: to help mutual banks thrive in today’s financial climate so that they can serve their communities and help them prosper. Our independent banking model allows community banks like Warsaw Federal to affiliate with FMHC to achieve economies of scale, develop product and service offerings and achieve greater operational efficiency while remaining an autonomous mutual bank ” , said Tom Fraser, president and CEO of FMHC, in a statement. “Warsaw Federal has a strong presence in the Cincinnati communities it serves. The capacity to invest in these communities must be strengthened with more opportunities for balance sheet growth and increased profitability as a subsidiary of FMHC. “

FMHC, the former parent company of First Federal Lakewood, was formed in 2015 as a non-stock holding company to allow affiliations with member-owned mutual banks. The Warsaw combination comes just weeks after the announcement of an affiliation with Blue Grass Federal Savings & Loan Association of Paris, Ky.

It is also the fourth affiliation of the FMHC in as many years. FMHC was also affiliated with Belpre Savings Bank in Ohio in 2016 and Doolin Security Savings Bank in Parkersburg. W.Va., in 2017. These two banks, which were struggling to develop, were merged under First Mutual Bank in 2018.

Fraser has indicated that he expects more affiliates to be in store in the coming months, although another is unlikely to be announced before the end of the year.

You can read more about FMHC, how it works, and why Fraser is pursuing affiliations under this model in this Source Lunch feature from March 2018.

How do you get a loan when your business is located in the “wrong” part of town? | Genetic marks


Wand improve your relationship with your banker? The answer is simple: just move your business to a nicer part of town. Unfortunately, this is the very real problem facing many small businesses across the country that are located in low income or minority areas.

This conclusion was drawn from a recent study by the Woodstock Institute, a nonprofit research and policy organization specializing in fair lending, wealth creation, and financial systems reform. The researchers there studied small businesses in low-income areas and communities of color in various parts of Illinois and compared them to their counterparts in high-income, predominantly white areas.

So guess what they found? Firms in low- and moderate-income zones received – surprisingly – a lower share of bank loans than firms in higher-income zones. The same goes for small businesses in predominantly non-white areas.

The impact on these small businesses is significant. Many are forced to become their own banks or forced to go to online or “payday” lenders who charge shockingly high interest rates because they are unable to get the capital they need from banks. traditional banks to develop their activities.

“I’m not really able to run at full capacity as I would like with my business due to the fact that I can’t get any capital,” said Jemiyah Beard, owner of a small business in Champaign, in the Illinois, at the Woodstock Institute. Beard can’t get a traditional bank loan, so his new business, Mary’s Master Cleaning Service, can bid on contracts and hire former incarcerated people who need jobs. She is certainly not alone. “I was my own bank. Nobody should have to do this, ”complained another business owner.

Is it outright racism? Simple economy? Ignoring? I’m sure these are all factors. But the most important thing is to discuss how to solve this problem. And moving to a nicer part of town is not – and shouldn’t be – the answer.

There are things that can be done. The institute’s recommendations include government surveys to identify the extent of potential racial discrimination and the role it plays in bank lending, as well as better training for loan officers.

“The fight for fair loans is far from over,” said Dory Rand, president of the Woodstock Institute, in a press release. “Banks and policymakers should be proactive in reversing these trends so that this is no longer the norm by which the whitest and wealthiest neighborhoods receive a disproportionate share of small business loans. “

OK. But this problem will not be solved overnight. It’s an unfair playing field and it means business owners will have to fight harder. Given the facts from the institute’s study, it is important that those seeking funding are prepared to face potential biases. And the best way to do that is to keep solid books, accumulate money, prove without a doubt that debts can be honored, surround yourself with reputable advisors, and have a great plan. business. It is not a guarantee to get a loan, but it will help improve the odds. And these business owners need all the help they can get.

Wasserman Shultz “Flip Flops” on Payday Loans – CBS Miami


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MIAMI (CBSMiami) – South Florida Congresswoman Debbie Wasserman Schultz, chair of the Democratic National Committee, reversed Friday in her support for Florida payday loan stores and her support for postponing strict federal oversight operations that provide small loans to poor clients at exorbitant prices. rates.

READ MORE: State argues judge should dismiss COVID-19 cases

On Tuesday, a group of activists ran an ad attacking Wasserman Schultz for his support for payday check stores, which some have characterized as legal loan sharking.

Wasserman Schultz called the announcement distorted at a press conference on Tuesday.

“The ad, if you look at it, very clearly brings together the words I used in an interview with local CBS (WFOR / CBS4),” said Wasserman Schultz.

But her words were clear in the interview the ad was based on, and she repeated them on Tuesday.

“The working poor have nothing but payday loans to turn to. They are therefore necessary to ensure that people have short-term access to capital, ”she said.

She supported a bill in Congress that would delay strict federal controls on payday loan transactions by the Consumer Financial Protection Bureau.

Under the scathing attack, Wasserman Schultz did an about-face on payday loan oversight on Friday.

The congressman released a statement saying, “I support the Consumer Financial Protection Bureau in its efforts to protect Americans from predatory lending … I look forward to working with my constituents and consumer groups as the CFPB works to a final rule. “

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Wasserman Schultz praised parts of the proposed rule for its strict controls.

Wasserman Schultz previously called Florida’s payday loan regulation a “model” for the nation. The proposed federal rules would be much stricter. Payday loan transactions in Florida charge interest over 400%. Many customers are unable to repay and are skyrocketing in debt.

Wasserman Schwartz’s very first challenger in a primary election for Congress rushed his overthrow.

“It’s a big rocker. She surrendered. She just realized she was on the wrong side and couldn’t stand up for the indefensible, ”said Tim Canova, law professor at Nova University.

Canova criticized Wasserman Schultz for accepting thousands of dollars from the payday loan industry.

“Who funds payday lenders? The big Wall Street banks, ”Canova said. “She took hundreds of thousands of dollars from the big banks on Wall Street.”

The enthusiastic endorsement of Democratic presidential candidate Bernie Sanders has boosted Canova’s campaign. He has amassed nearly $ 2 million in contributions which he says averages less than $ 20 each. He sees Wasserman Schultz as a Hillary Clinton lookalike.

“She’s an insider who took millions of dollars in business money. There will be a progressive alternative for people (to vote for) for the first time in his career, ”Canova said.

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A spokesperson for Wasserman Schultz said she was unavailable for an interview on Friday.

Natwest banking app goes down on the last payday before Christmas


Natwest’s banking app suddenly went down on the last payday before Christmas, leaving customers furious as they desperately try to shop for Black Friday.

The app reportedly stopped working around 9:30 am, displaying an error message saying, “Sorry, we’re having trouble establishing a connection with you.”

More than 2,000 customers are affected, according to the DownDetector website, with issues also reported with RBS and First Direct – on a day when Britons are expected to spend just under £ 3 billion.

Frustrated customers criticized providers on Twitter, saying they couldn’t access their funds online, with banks also issuing warnings on their websites reporting “intermittent problems” with their services.

Many have criticized banks for preventing them from shopping for Black Friday, saying today is the “most important payday of the year”. While others said they could not pay their bills due to the blackout.

There are issues across the country, with large numbers of customers affected in cities like London, Cardiff and Manchester

The app reportedly stopped working around 9:30 am, showing an error message saying:

The app reportedly stopped working around 9:30 am, showing an error message saying: “Sorry, we’re having trouble establishing a connection with you”

More than 2,000 customers are affected, according to the DownDetector website, with issues also reported with RBS and First Direct

More than 2,000 customers are affected, according to the DownDetector website, with issues also reported with RBS and First Direct

Frustrated customers have taken to Twitter to criticize vendors, saying they can't access their funds online (above and below)

Frustrated customers have taken to Twitter to criticize vendors, saying they can’t access their funds online (above and below)

Writing on Twitter, Rachel Broadbent said: “Does anyone else find they can’t log in through the Natwest banking app today? It tells me I have no login Internet, what I do.

While another frustrated customer, Helen, said, “Well this is a way to make sure I don’t spend too much on Black Friday, keep me from accessing my money. Thanks Natwest.

And Alex Davies said, “The banking app and the Natwest website are down on the most important payday of the year. Good luck to their public relations team.

Natwest customer support informed customers of the outage online, saying they were “reviewing reports of problems with some of our services” and adding, “We are working hard to resolve this issue.”

In a statement on Twitter, he added: “We will post an update when we have more information. And don’t forget to contact us if you need urgent help.”

The Natwest and RBS applications are down. On their service status pages, banks have issued notices to customers.

“We are currently experiencing intermittent problems with our online banking service, our mobile app and Bankline,” the information said.

“If you need to make a transaction, you can continue to do so using our telephone banking service or you can also go to one of our branches or ATMs.

“We apologize for any inconvenience this may cause, we are working to resolve this issue as quickly as possible.”

A spokesperson for the Royal Bank of Scotland said: “We are aware that some customers experience intermittent problems accessing our mobile and online banking services.

“We apologize to customers for the inconvenience and are working hard to resolve the issue. There is no impact on debit cards, credit cards, ATMs, telephone banking and branches – customers can continue to access them normally. ‘

A queue of people looking for a bargain at a Size shoe store this morning on Black Friday in Leeds

A queue of people looking for a bargain in the Size shoe store this morning on Black Friday in Leeds

JD Sports in Oxford Street had the biggest line and was the first store to open at 7 a.m. on Black Friday

JD Sports in Oxford Street had the biggest line and was the first store to open at 7 a.m. on Black Friday

Black Friday shopper leaves Wigan Tesco Extra shortly after 5 a.m. this morning with a big screen TV

Black Friday shopper leaves Wigan Tesco Extra shortly after 5 a.m. this morning with a big screen TV

Frustrated bank customers have taken to Twitter to criticize providers for saying they can't access their funds, with reports the money has gone missing in

Frustrated bank customers have taken to Twitter to slam providers saying they can’t access their funds, with reports the money has disappeared into “the abyss”

But the updates haven’t done much to appease frustrated customers, with some reporting that their money has “disappeared” after trying to make transfers.

Alicia said, “I just took 200 pounds out of my savings and they are gone. When is this going to be fixed? So stressed out. ‘

And Jacqui Harris said, “I just transferred some money into my Monzo to pay for something and with that I’m about to have a VERY awkward time at the barber.”

While another said: “Spent savings in current to pay for orders. He left my savings but didn’t touch my checking account. B ***** annoying because now all of my Amazon orders have been declined. ‘

Who’s looking for? released earlier this week found that the banking industry typically suffers about five IT failures every week, shutting off millions of customers from accounts and payments.

Who? found that over the past year, major UK banks have experienced 265 computer shutdowns between themselves, which has prevented customers from making payments.

TSB recently apologized to its customers after some account holders found themselves without pay as the bank failed to process payments overnight.

Last year, a major IT collapse left TSB customers without access to services and dragged on for months.

Today’s outage came as shoppers began lining up outside stores at 3 a.m. this morning in a desperate attempt to secure discounts on what is expected to be a record 2.50 bargain. billion pounds for Black Friday.

Passionate bargain hunters took to social media to share their bargains today, with one waiting outside a Tesco in Accrington at 3:50 a.m. and several others seen carrying widescreen TVs in their cars in Tesco supermarkets across the UK in the early hours of the morning.

TopCashback experts expect spending to hit just under £ 3 billion today – the highest amount ever in a single day in the UK, making Black Friday the most important ever recorded.

The main categories that people buy today are electrical products, which are up 67% from last year; fashion and entertainment and leisure.

Sportswear purchases are up 65% for the week and 70% today for clicks, with perfumes up 44% for the week and 220% today, according to live data from TopCashBack.

Experts say today’s shopping bonanza could break records, but is a “breakthrough opportunity for many UK retailers”.

“BubbleLoan” at “Rupee Factory”, loan applications that allegedly defrauded borrowers



The app, according to its apk file, grants loans of up to Rs 1 lakh with an interest rate of up to 36% and shares its address with Snapit Loan in Bhandup West. But it is managed by another company, Barico Technologies Pvt., Which does not file any files in the Republic of Congo. An email sent to the email id mentioned on its apk link did not receive a response.

Bubble loan

Named in several consumer complaints, Bubble Loan also did not have a website. His Facebook page, created in December last year, contained a link to a missing website. While BloombergQuint could not independently determine whether the social media page was created by the company, the cell phone numbers listed on the page were disabled when contacted. The company address on the page was Jehanabad, Bihar. There was no apk file available for the loaner application.


Same story here. There was a Facebook page named after the app that did not contain any information regarding the lender’s website, address or contact details. The page, however, claimed its location had been moved to Gurugram. It was premiered in December.

Its apk file indicated that the company had granted loans of up to Rs. 5 lakh for an annual interest levy of 36%. It has described itself as an app that caters to young professionals to meet all kinds of loan requirements.

A request sent to the email id listed on the apk file also did not receive a response.

Rupee factory

The app also had a Facebook page linked to his name, but there were no other details on his website or contact details. The page was created in September of last year.

The app, registered at a Bangalore address, has granted loans between Rs. 1,000 to Rs. 10,000 for interest charges of up to 25%, in addition to processing fees of up to 20% and of the Goods and Services Tax of 18%, according to its apk file.

Several calls made to the specified mobile number went unanswered. A request sent to the email id on the apk website also did not receive a response.

A hope and in need

These apps had no Facebook pages, websites, addresses or contact details available anywhere except for a few of their agents who were featured in some consumer complaints and FIRs filed with cybercrime cells. in India.

Paisa loan

Paisa Loan also had a Facebook page but no other information on their website, address or contact details. The page, created in August last year, claimed to offer online personal loans ranging from two to 36 months, with no collateral and interest rates ranging from 13 to 24.3 percent per annum.

A mobile number that appeared while searching for a loan application was not working. There was also no apk file that could be found on the internet.

Federal watchdog sets rules for payday loans


The agency’s new director has reversed course on regulations aimed at preventing borrowers from being caught in a never-ending cycle of short-term, high-interest loans.

Payday lenders won a major victory on Wednesday after the Bureau of Consumer Financial Protection decided to remove tougher restrictions that were due to come into effect later this year.

The industry has spent years trying to push back against the new rules, which were crafted under the Obama administration. The settlement was aimed at preventing debt skyrocketing by limiting the number of back-to-back loans that could be made and requiring lenders to verify that borrowers could repay their loans on time while covering basic expenses.

In her first major policy decision, the new office manager, Kathleen Kraninger, proposed eliminating almost all substantive requirements from the regulations, including the “repayment capacity” mandate. There was “insufficient evidence and legal support” for this provision, the office said. He also sought to remove a limit that would have prevented lenders from granting more than three short-term loans without a 30-day cooling off period.

A payday loan client who borrows $ 500 is typically expected to be around $ 575 two weeks later, or an annual percentage rate of almost 400%. If borrowers cannot repay their loans on time, they often borrow more and go into more debt. It’s a tough cycle to break: Half of all payday loans are part of a streak that spans at least 10 consecutive loans, according to data from the Office of Consumer Affairs.

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Consumer advocates said the overthrow of the bureau put the interests of businesses ahead of the public.

Linda Jun, senior policy advisor at Americans for Financial Reform, questioned whether the change was simply a result of the industry making enough noise.

“It’s not like the agency wrote the old rule on a whim,” she said. “It was the result of a five-year process, with a lot of research and conversations with stakeholders on all sides. Essentially saying “just kidding” and throwing it aside is extremely baffling. “

Payday loans are indeed illegal in about 20 states, but in the rest they are profitable and popular: Americans borrowed nearly $ 29 billion from payday lenders in 2017, paying $ 5 billion in fees, according to estimates by John Hecht, financial services analyst. Jefferies company.

To prevent borrowers from getting trapped in a cycle of debt, the office finalized new national rules at the end of 2017. The rules were the result of years of research and legislative work – and have been fiercely opposed at every step by lenders, who have warned that the new restrictions will decimate their business. Industry officials have said many of the country’s 14,300 payday lender stores – about the same number of U.S. locations as Starbucks – are expected to close.

The centerpiece of the settlement was its requirement that lenders underwrite most loans by checking borrowers’ income and debts to determine if they could afford to repay the loans while meeting other financial obligations. Granting loans that consumers did not have the income to repay was “unfair and abusive,” the consumer office said at the time.

But under President Donald Trump, the agency has changed course and been more friendly towards the companies it regulates.

In June, acting director of the office of consumer affairs Mick Mulvaney, who is now Trump’s acting chief of staff, sided with two business groups and called on a judge to prevent the new rules. enter into force this year. On Wednesday, the agency sought to postpone the effective date of the underwriting provision to the end of 2020 from August, which gave it time to complete the administrative steps required to cancel it. Delaying the requirement would preserve at least $ 4 billion in sales that lenders would otherwise lose, the office said.

The office said it would leave some less important parts of the rule in place. In particular, lenders will no longer be allowed to attempt to withdraw funds from a borrower’s account after two failed collection attempts, a practice that often leaves insolvent clients inundated with overdraft fees.

Lenders welcomed the changes, but said they wanted the office to go further. The Community Financial Services Association of America, a trading group that filed a lawsuit last year in federal court to end all new restrictions, said it was happy the office was fixing some of the “critical flaws” of the rule, but that problems remained.

The limits on payday loans “will push consumers towards dangerous and harmful alternatives,” said Dennis Shaul, chief executive of the group. The trade group will continue litigation to overturn the rules, he said.

The agency has punished several payday lenders since Kraninger took office in December, although it released them with relatively light financial penalties.

Last month, the bureau punished Enova, which operates online lender CashNetUSA, for failing to honor promised loan extensions and for debiting customers’ bank accounts without authorization. Enova, which made $ 29 million last year on sales of $ 843 million, agreed to change its practices and pay a fine of $ 3.2 million.

The office’s new proposal will be open for public comment for 90 days. After that, the agency can go ahead to make the changes final.

How I Repay My Student Loans: Real Borrowers Share Stories | Ranger student loan


The Student Loan Ranger strives to provide the best advice on managing student loans. We have the industry experience and expertise to back up our advice, but we also understand that for some readers, hearing the first-hand experience of those who manage their own student loans can be the most effective aid.

These borrower experiences help remind others that they are not the only ones with debt. This feedback can also show you that a successful refund is, in fact, possible.


Recently, American Student Assistance®, the organization that writes the Student Loan Ranger, asked members of our SALT® Financial Literacy Program for Education Consumers to share their best financial tips. Not surprisingly, many have spoken about their student loans.

Below are snippets of a few answers, which we’ve edited for length and style. If you want more financial advice from recent students and graduates – some were very creative, like this budgeting chat video – or if you want to join the conversation, visit the SALT Central community.

Pay more on loans with higher interest rates

“I make monthly payments on my seven loans, but only two of them have interest rates above 6%. soon, I will have less interest to pay in the future.

“Also, see if you can consolidate or refinance your loans. You could end up paying a lower interest rate and you will be less likely to miss a payment. “

Understanding your loans and options

“I do not know what does interest really involve? Or capitalization? Or head of establishment? Do whatever it takes to understand each one so that you know the best approach to paying off your loans. For me, it was hours on the phone with customer service from my supplier – hours. But hey, that’s what they’re here for.

“Depending on your loan provider, they offer ways to consolidate your loans for free. You just need to put in the time and effort to figure it out. “

Stay motivated and prioritize payments

“I put my lens in front of my eyes, literally setting it as the background of my laptop. A photo of where I do my banking and a photo of the university where I graduated with the statement in bold: I will pay off ‘X Amount’ of student loans by Christmas 2017. When you see your goal, you pursue it with more effort.

“Pay on payday. Pay it first!

“If you don’t, you’ll be tempted to use that extra money for coffee, dining, and social events throughout the month. But at the end of the month you’ll realize that venti Frappuccino with two shots coconut and an extra shot of espresso was really, really not worth it compared to staying in debt longer than necessary. “

“One day, I logged into my financial portal and made an astonishing observation: my bill eight months later. [student loan] payments was exactly what he had started. I quickly realized that things had to change.

“There could be no more ‘fun’ paychecks. Dinners with friends were limited to once every two weeks. I started limiting myself to $ 25 a week for groceries and withdrew $ 30 in cash as extra spending money.

“It has become a new way of life, and although it was and still is a challenge, I have learned to love it. I am my biggest competition, and having a cash cushion puts me much more comfortable. “

Payday loan clients could owe MILLIONS in compensation as lenders drag their feet on payments


MILLIONS of struggling Britons are still owed to compensation from payday loan companies who loaned them out even though they couldn’t afford to pay them back.

Companies like Wonga and Quick Quid were ordered to pay back irresponsible loan funds in 2014, but compensation experts criticized companies for not doing enough, according to the Mirror.


Payday lenders have come under fire for acting too slowly to pay clients’ compensationCredit: Wonga

Four years ago, the city’s watchdog, the Financial Conduct Authority, ordered companies to compensate borrowers who took on more debt as a result of irresponsible lending before a cap was set in 2014 .

Customers were charged exorbitant interest rates on cash loans they couldn’t afford to repay, pushing them further into a spiral of debt.

Vincent Vernon of Pay Day Refunds said he handled 32,000 customer complaints, a quarter of which involved Wonga.

He said: “Three of the poorest lenders are Wonga, Curo and Quick Quid.

    Quick Quid has been named by experts as one of the worst to cooperate


Quick Quid has been named by experts as one of the worst to cooperateCredit: Quick Quid

“These lenders continue to ignore the rights of UK consumers to their irresponsible loans. They are quick to lend and extremely slow to repay.”

To get the repayment, customers must prove that their financial situation has deteriorated as a result of the loans.

They should include details such as the address where they lived when they applied for the loan and how easily they got the money.

How to claim compensation from payday lenders

IF you think a payday lender owes you compensation, here’s how to make a claim according to Money Advice Online:

You will have to prove that you could not afford the loan, so look at your bank statements from the time you took the loan and see if you could have paid off the loan, because as well as paying your rent, your expenses. bills and other debts.

If you took out multiple loans next to each other, it was a sign that you couldn’t really pay them back.

Make a list of the loans you have taken out, when. Log into your online account with the lender to verify the documents.

If your account has been closed, you can get the information from your bank statements.

Record your current income and expenses to create an affordable account.

Write detailed letters or emails to each lender, citing “unaffordable loans” and ask for a full refund of the interest and fees you paid, plus the 8% Ombudsman interest on top.

Also request that the loan be removed from your credit report.

Wait up to eight weeks for the response. If you are not satisfied with the answer, contact the financial mediator.

Some of these details can be difficult to remember, and Resolver’s James Walker says businesses make it difficult by shutting down clients’ online accounts.

Borrowers, however, do not need their online accounts to file a complaint, as the company is legally required to keep a record of all loans it has made over six years.

He called the scandal which saw millions of Britons take on more debt “tragic and scandalous”.

Wonga told the Mirror: “We assess customer complaints on a case-by-case basis. In accordance with regulatory standards, it can take up to eight weeks for a complaint to be processed.”

Last week the lender appealed to lenders for £ 10million to save it from financial hardship.

Last year it was revealed that workers are turning to payday loans to make ends meet and pay unforeseen bills.

Hundreds of thousands of people are expected to save money with an option to buy lease fee cap, thanks to The Sun’s Stop the Credit Rip-Off campaign.

Earlier this year, the FCA announced plans to crack down on “exceptionally high” lease products, along with a series of overdraft changes and stricter rules for home lenders.

We pay for your stories! Do you have a story for the Sun Online Money team? Write to us at [email protected] or call 0207 78 24516. Don’t forget to join Sun Money’s Facebook group for the latest great deals and money saving tips.

2 Rob Men Payday Loan Store on Milpas Street in Santa Barbara | Local News


Santa Barbara Police responded on Tuesday to a report of a theft at a payday loan store in the city’s Eastside.

Officers were dispatched around 11:25 am to the Evolution Loan store at 401 N. Milpas, according to Anthony Wagner, a spokesperson for the police department.

Two masked men, possibly armed, ordered an employee to stand in the back of the store, then took money and other items before fleeing, Wagner said.

The suspects, who also wore gloves, may have driven off in a white Chevrolet Colorado pickup truck, he said, possibly heading west on Gutierrez Street.

One suspect was reported wearing a burgundy shirt and black pants, while the other wore a long-sleeved gray shirt and pants, according to emergency radio traffic. One suspect was also described as an adult black male, Wagner said.

No injuries were reported.

The incident was still under investigation and no further details were available.

– Noozhawk editor-in-chief Tom Bolton can be reached at . (JavaScript must be enabled to display this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

Our professional journalists work around the clock to make sure you have the news and information you need in these uncertain times.

If you enjoy the coverage of the Noozhawk coronavirus and the rest of the Santa Barbara County local news that we deliver to you 24/7, please become a member of our Hawks Club today.

You need us more than ever and we need your support.

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American IRA discusses what investors need to know about self-directed IRA private loan investing


CHARLOTTE, NC / ACCESSWIRE / January 13, 2021 / Private IRA investing can be a hot topic for investors who want to diversify outside of the stock market. But what should investors think about investing in private IRA loans? What knowledge is essential? These are the types of questions that a recent article answered on the American IRA blog. American IRA is a self-directed IRA administration company in Asheville, NC that regularly posts information about self-directed IRAs on its corporate blog.

Private loans are available for self-directed IRA investors, according to the publication, which mentions the various loans available. For example, auto loans would be a valid loan, but there is a wide range of possibilities for investors who wish to lend money. American IRA mentioned that these investments have become popular with many retirement investors because they can generate predictable and stable returns without depending on the stock market.

For this reason, private IRA investing is seen as a powerful way to diversify out of the stock market when it comes to retirement. While loans are sometimes affected by the economy as a whole, individual investors doing their homework on potential borrowers can still identify powerful opportunities to create retirement returns.

“Private IRA loans are another possibility that broadens people’s horizons,” said Jim Hitt, CEO of American IRA. “This is one of the reasons why so many people are intrigued by self-directed IRAs. By using private loans in a powerful way, investors can diversify their assets and feel secure about a retirement that will be there.”

The publication also points out that the terms of individual private IRAs have some flexibility, which can allow an investor to customize their own retirement investment experience to some extent. But it’s also worth mentioning that lending in an IRA will have to follow the same rules as other retirement investments, especially when it comes to prohibited transactions and avoiding working with disqualified people.

To learn more about private IRA loans, visit the post at www.AmericanIRA.com. Interested parties can also contact the IRA Self-Directed Administration Company by calling their number at 866-7500-IRA.

“American IRA, LLC was established in 2004 by Jim Hitt, CEO of Asheville, North Carolina.

American IRA’s mission is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have taken the company to over $ 400 million in assets under administration by letting the public know that their self-directed IRA account can invest in a variety of assets such as real estate, private loans, limited liability companies, precious metals and a lot more.

As a self-directed IRA administrator, this is a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, promoters or investment companies, or employees, agents or representatives associated with such companies). They are not responsible for and are not bound by any statement, representation, warranty or agreement entered into by any such person or entity and do not provide any recommendation as to the quality profitability or reputation of any investment, individual or business. The term “they” refers to the American IRA, located in Asheville and Charlotte, NC and Atlanta, GA.


See the source version on accesswire.com:

Payday loan mogul, racing driver Scott Tucker and Brett Chapin indicted for tax evasion


Federal grand jury charge Scott Tucker failed to report millions of dollars in federal income tax.

Federal grand jury charge Scott Tucker failed to report millions of dollars in federal income tax.

Leawood businessman Scott Tucker, previously convicted of criminal charges for running an illegal payday loan business, faces a new indictment for failing to report millions in income.

Tucker, 55, has been charged with filing a false income tax return, U.S. Attorney Tom Beall in Kansas said on Wednesday. He also faces a conspiracy charge with his accountant.

W. Brett Chapin, 46, of Shawnee, prepared Tucker’s income tax returns for 2008-2011, according to Beall’s announcement. He faces charges of aiding and abetting the filing of a false income tax return and the conspiracy charge.

According to an unsealed indictment on Wednesday, Tucker signed a 2008 income tax return prepared by Chapin that did not report $ 42.5 million in income from payday loan companies owned by Tucker. A 2011 tax return did not list $ 75 million in income, according to the grand jury indictment.

Tucker was recently convicted of racketeering and other charges related to his $ 2 billion payday loan business which federal prosecutors said exploited 4.5 million consumers. Tucker is due to be sentenced in New York by January 5.

Previously, a federal judge had ruled that Tucker had to pay back $ 1.3 billion following a Federal Trade Commission lawsuit against him and his businesses for his usurious payday loan business.

Tucker’s latest legal issues stem from tax returns that failed to report millions of dollars in income from a company Tucker claimed to no longer control. A grand jury, however, believed he did.

The omitted income was generated by a payday loan company called CLK Management, which Tucker claimed in 2008 to have sold to the Miami Tribe, a Native American tribe in Oklahoma, for $ 120,000.

Native American tribes were a key part of Tucker’s business model. Tucker started his payday loan businesses on tribal lands in order to evade state interest rate regulations. Tucker acted as if the tribes ran the businesses, but regulators and prosecutors said Tucker actually controlled operations.

Along similar lines, Wednesday’s indictment indicates that Tucker, not the Miami Tribe, continued to control CLK Management and a new payday loan entity resulting from that deal, AMG Services.

The indictment also stated that Chapin knew that CLK and AMG remained under Tucker’s control, despite the sham sale.

The indictment says Chapin received an email from an AMG employee asking him how the sale of CLK should be recorded in AMG’s ledger. Chapin berated the employee for emailing him about CLK. Chapin then forwarded the employee’s email to someone else, noting, “These guys are fucking idiots.”

Chapin also sent payments to the Kansas Department of Revenue on Tucker’s behalf for taxes, relying on an AMG bank account.

CLK Management’s deal with the Miami Tribe became an issue during Tucker’s New York criminal trial.

The Star first reported in April that federal prosecutors in New York City wanted access to client files, usually barred from anyone other than an attorney or client, from the Kansas City law firm, McDowell, Rice, Smith & Buchanan. This company represented Tucker in a 2010 lawsuit in Wyandotte County District Court involving CLK Management and AMG Services.

In that case, Tucker took legal action against AMG Services, which he said belonged to the Miami tribe, for failing to file documents with the Kansas Secretary of State to confirm the merger of CLK into AMG. Services.

Prosecutors said the Wyandotte County proceeding was a key part of the whole fictitious transaction and that Tucker and others played both sides of the lawsuit.

A judge then ruled that prosecutors had shown the probable cause of the fraud and ordered McDowell Rice to produce tapes of their relationship with Tucker.

Chapin is the second lawyer to run into legal trouble as a result of his association with Tucker. Tim Muir, an Overland Park attorney who was AMG’s general counsel, was indicted alongside Tucker in 2016. And Muir was also convicted alongside Tucker.

Chapin faces up to five years in prison and up to $ 250,000 conspiracy charges and up to three years for helping to file a false tax return.

Tucker incurs the same penalties.

This story was originally published December 20, 2017 3:40 p.m.

High Causes To Obtain A Private Loan Zoom Fintech


Funding can help if you have any of these conditions.

Private loans can help you when you want to borrow money for a wide variety of reasons. Any such lump sum loan is repaid again in monthly installments over a fixed period, normally starting between one and seven years. The amount you can borrow will depend on your credit score history, but current prices range from $ 1,000 to $ 50,000 and up to $ 100,000.

Similar to this, a private loan can be used for private causes. With any debt, it’s important to consider how the fees will affect your funds, but there are many conditions where a private loan can be a smart choice.

1. Debt consolidation

If you have a number of great loans with high interest charges, combining them into one can help lower your monthly fees. This is called “debt consolidation” and is one of the most common causes for which individuals take out a private loan. The private loan usually has a lower interest rate than some of the other amounts you might have, which can reduce the total amount you will pay back over its period.

Credible makes it easy to find the best private loan for this purpose – simply insert your required loan amount into their free online software and you will review the fees and terms of several lenders without delay without affecting your credit rating. .


Be careful if you happen to have to resort to a private loan to repay bank card balances. One pitfall could be to be tempted to cost new debt on these playing cards. You will have to follow self-control, or you could find yourself in a worse situation than before you consolidated your debts.

If you have a good credit score, you may also want to consider stability switch playing cards that offer 0% APR. You can exchange your bank card balances and pay them without curiosity.

Credible can also allow you to see a number of zero% bank card choices to see what makes the most sense for you if you find that it probably makes the most financial sense.


If you go this route, rest assured that you can pay it off before the promotional period ends. If you don’t, you will be charged interest that accumulates from the single date of the change, which can be much higher than the interest charged on private loans.

2. Wrap emergency bills

Based on the Federal Reserve, only 40% of individuals have a fully funded emergency account, which covers three to six months of bills. If one thing arises, you may need to resort to a private loan. Emergency bills can include unexpected medical bills, expensive auto repairs, and even funeral expenses. Each of these conditions can quickly add up to a few thousand {dollars} or more. Even when you have insurance coverage, you may need to fill an excessive deductible.

A private loan can help in these sometimes tense conditions. Just use Credible to check the private loan fees of some leading private lenders.


When you are on your guard again, you can start building your emergency fund so you don’t have to face this dilemma again.

3. Make a big purchase

A private loan can also fund a giant purchase, such as new equipment, a car, or an engagement ring. You can even use it to pay for tuition, a wedding, or a trip. In these circumstances, however, it is better to contemplate your desires over your desires. Buying a car can help you get to work. Paying tuition fees can help improve your career prospects. And changing out an old refrigerator or stove can help you maximize your funds for your meals. If you’re using a private loan for a large purchase, make sure the monthly fees are right for your funds. And book for one of the best deals on this huge purchase, so you won’t be tempted to get a loan that’s more expensive than you want.


4. Pay for changing prices

Based on Transferring.com, typical native transfer prices are $ 1,250, while long-distance transfer prices average $ 4,890. If you’re moving because of a new job or family scenario, taking out a private loan can help pay the bills. You may also need to purchase new furniture or family items on your new home or pay travel bills. Before you tackle the debt to transfer, make sure that your new income is likely to be enough to cover the monthly loan costs.

Don’t worry about having to navigate private loan choices yourself. Credible can help review private loan companies (and hopefully charge you some of the lowest fees).


5. Transform a house

Converting your property can improve its value in addition to making mandatory repairs that defend your financing. A private loan is a possibility to obtain financing for tasks such as changing the roof, updating the kitchen or finishing the basement. If you have equity in your home, you may decide to go for a home equity line of credit or a home equity loan. Nonetheless, private loans can be a smart choice as they don’t require collateral which means you aren’t putting your property at risk if you aren’t able to pay it back.


6. Start a small business

Almost two-thirds of people have to start their own business. And because the saying goes, “It takes money to make money. A private loan could be a good car to get the financing you need to start your personal business. You have to use it to hire a website designer, order preliminary stock, pay off your lease, or cover payroll until you start generating income. Make sure your marketing strategy offers an option to make your funds month-to-month when you start your small business.


The bottom line

Private loans can be used for all kinds of reasons, but there are two things every borrower should do before using. First, find out about one of the best private loan fees.

You can find out about your personal loan options, get prequalified fees without hurting your credit rating, and find many lender sites by visiting Credible.

Second, make sure the loan is suitable for your funds. Go to Credible and use their private loan calculator to estimate monthly fees. Keep in mind that you may be paying interest on the loan, so use one responsibly. That boat or trip can be fun, but you don’t need the spending to hurt your credit rating and long-term financial well-being.

British Columbia Consumers “Extremely Sensitive” to Advance Loan Scams, BBB Warns


According to the Better Business Bureau (BBB), British Columbians are “extremely likely” to fall victim to prepaid loan scams – one of the riskiest scams in Canada – to which they lose out. less $ 1,000 each.

According to the Better Business Bureau (BBB), British Columbians are “extremely sensitive” to prepaid loan scams – one of the riskiest scams in Canada – for which they lose at least $ 1,000 each .

“Prepaid loans, the second riskiest scam in Canada for 2019, continues to wreak havoc on residents of British Columbia in financial stalemate due to the pandemic,” according to the BBB, which warns consumers, who may urgently try to acquire funds, be on “high alert” to avoid losing money and exposing their personal information.

The BBB says reports it has received from victims across the province show consumers are extremely susceptible to the scam.

As part of the scam, the BBB says consumers may receive an email or phone call, or – as in the case of more recent reports to the Desktop Scam Tracker – a pop-up ad online or find a site Web while searching for a loan company. .

In this scam, crooks disguised as loan brokers and other lending institutions advertise and promise loans to those in financial stalemate. The loan, which is secured regardless of credit history, comes with an upfront fee called “taxes”, “insurance” or “processing fee.”

However, when the charges are paid, the loan never materializes and the applicant is left with larger debts. BBB says charging upfront fees for loans is illegal in Canada

“Typically, crooks will ask you to pay a fee for some seemingly legitimate reason,” said Karla Laird, BBB’s community and public relations manager.

“Often times they require payment to be made by wire transfer, bitcoin, or some other hard-to-collect method. However, after the fees are paid, the bogus loan company stops the communication and the consumer cannot get a refund. “

Vancouver man loses nearly $ 1,500

In one scam case, which was reported to the BBB, a Vancouver resident lost nearly $ 1,500 to a business he found online with an Ontario address on his website.

The company told the Vancouver man his loan was approved for $ 10,000 at the rate of seven percent for four years, however, the company needed a three-month prepayment to release the funds. – a total of $ 718.

The company also told the man his credit was high risk, so he would have to pay the lender for $ 1,500 in insurance, although the company would cover half of it. The company wanted the Vancouver man to send the money using Bitcoin.

The company, Kingsway Lending, according to the BBB, uses the address of a Canada Revenue Agency office in Ontario.

“Scammers understand that consumers are looking for websites that look professional and will go out of their way to make your loan application process feel like a real deal,” Laird said.

“With that in mind, thoroughly researching a business before initiating any transaction is the best way to avoid being cheated about your money and personal information.”

What to watch out for

The BBB says consumers should watch out for the following red flags if they are looking for a lender or loan broker:

  • You receive unsolicited communications (phone call, SMS, e-mail) offering easy loan.
  • Lender’s website is hard to find, the company has very little online presence and limited online history. Also check if they are on social media and professional platforms like Linkedin.
  • The lender is not registered in your province. Lenders and loan brokers must register where they operate. If they offer payday loans, check with Consumer Protection BC to confirm if they have a business license.
  • You cannot confirm the physical address of the location. Based on your research, the address appears to belong to another company or organization. Check the municipality where the business is located to see if it has a business license.
  • The company is not accredited with the BBB; you can’t find a BBB company profile for them; they have a negative company rating on their company profile; and / or have several negative reviews and complaints from consumers.
  • No credit check is required to get the loan and your approval is guaranteed. Legitimate lenders never guarantee a loan in advance. They will check your credit score through one of the major credit bureaus and ask for additional documents like proof of income and employment before providing an interest rate and / or loan amount. They will never ask you to pay an upfront fee.
  • Your offer has a very short deadline, leaving you with very little time to consider your options and get additional feedback from people you trust.
  • Whatever the reason, you need to make an upfront payment to get a loan. A legitimate lender will charge a fee on the money they lend you or the interest charge when you pay off the loan. A fraudulent lender may try to collect them as a condition for you to get the money.
  • Lender accepts payments in the form of gift cards, bitcoin and bank transfers. Unusual payment methods or payments to an individual are sure signs that something is wrong.

MeasureOne’s latest private student loan report reveals pandemic forbearance


Levels have stabilized while defaults and defaults remain at historically low levels

Private lenders continue to provide assistance to students and families during unprecedented time

SAN FRANCISCO, December 9, 2020 / PRNewswire / – MeasureOne today released its Private Student Loans Report, a cutting-edge research report leveraging MeasureOne’s custom analysis services. This 15th edition of the report reaffirms that students and families continue to responsibly use private student loans to cover tuition fees. The vast majority of private student loan borrowers – 98% of families – continue to successfully manage their payments and default less than 2% each year. Additionally, private lenders continue to provide options for students and families struggling with the COVID-19 pandemic, including deferral of payments. These ongoing relief efforts resulted in abstention levels of 7.0% in the second quarter, but which have since leveled off and currently stand at 3.7%.

(PRNewsfoto / MeasureOne)

“While the ongoing pandemic has created financial challenges for students and families, private lenders continue to offer options to struggling families,” said Elan Amir, CEO of MeasureOne. “It is encouraging to see that payment defaults and defaults remain at historically low levels and that abstention levels are stabilizing, reaffirming how strong underwriting and a focus on repayment capacity contributes to success. client. “

Private student loans, which are fully underwritten to assess creditworthiness and repayment capacity, account for about 8.1% of total student loans outstanding in the third quarter of 2020. The remaining 91.9% of the $ 1.70 trillion Student loans are federal loans held or guaranteed by the Department of Education.

The Private Student Loans Report (“Report”) reflects data as of the end of the third quarter of 2020 for private student loans and does not include federal data on student loans. Performance attributes for this quarter show a promising recovery from the initial impact of the pandemic. Consistent with previous quarters, the report finds that payment defaults and defaults remain at or near historically low levels. At the end of the third quarter of 2020, the report revealed:

  • Sources of private student loans during the academic year to date [AYTD] 2019/20 was $ 10.14 billion, up 4.98% year-on-year, and the AYTD 2020/21 (Q3 2020 only) was at $ 3.52 billion, a decrease of 12.4% year-on-year.

  • Overdue loans (forbearance plus late payment of more than 30 days as a percentage of repayment plus forbearance) fell to 7.52%, from 9.98% at the end of the first quarter of 2020 and well below the levels observed during the first quarter of 2020. of the Great Recession (which peaked at 18.55% in Q1 2009).

  • Forbearance use fell 48% at the end of the third quarter of 2020 from a high of 7.04% in the previous quarter as borrowers were able to exit the industry’s customer support programs. Current forbearance usage remains high within the normal range of 2% to 3% (and higher than the end of the third quarter last year level of 2.22%).

  • The early stage default rate (30-89 days late) was 2.14% of outstanding loan balances (excluding abstentions as usual), and similarly, the late-stage default rate (over 90 days late) was 0.66%. Both are near historic lows.

  • Annualized defaults represented 1.26% of outstanding loan balances and are close to historic lows.

  • The total outstanding private student loan balance represented in the report was $ 64.87 billion (including school loans but excluding consolidation, refinancing and parent loans).

  • Undergraduate loans accounted for 88.50% and graduate loans 11.50% of loans were from AYTD 2019/20.

The semi-annual report includes the ongoing contributions of the six largest lenders and student loan holders: Citizens Bank, NA, Discover Bank, Navient, PNC Bank, NA, Sallie Mae Bank and Wells Fargo Bank, NA In addition to these members of the MeasureOne Private Student Loans Consortium, this report includes data from 9 other student lenders. In total, these contributors represent the vast majority of school arrangements and the majority of private student loans outstanding in the United States.

The full report on private student loans is available for download at https://www.measureone.com/resources

About MeasureOne
In September 2019, MeasureOne introduced a new development platform to drive innovation and new client applications based on academic data. MeasureOne is now the leading API platform provider for academic data and predictive analytics. Using MeasureOne products, application developers from all industries, including academia, employment, lenders, marketing, residential real estate, and insurance, can leverage academic achievements to deliver insight. , compelling products and services to emerging consumers. MeasureOne is headquartered at San Francisco. For more information on MeasureOne, visit www.measureone.com.



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SOURCE MeasureOne

Papiss Cisse: Woman sacked for taking PHOTO of Newcastle United striker at payday loan store


Natasha Sheils learned she violated “client confidentiality” with her photo of the footballer – who had previously campaigned against short-term lenders

A cell phone snapshot of football star Papiss Cissé using a payday loan store – though he criticized similar pawn shops last year – cost a new mom her job.

Natasha Shiels couldn’t help but snap the cheeky photo of the Newcastle United striker as he walked into The Money Shop on West Road to send money to Senegal.

The photo was posted on Facebook, but within 24 hours the 26-year-old was in hot water with her management who said she had violated “customer privacy.”

Earlier this season, the Muslim striker refused to wear the club jersey due to his sponsorship deal with payday loan company Wonga.

But a photo later appeared of him at gaming tables in a downtown casino, leaving him open to suggestions as he picked and chose which parts of Islam to follow.

The fact that he was spotted using The Money Shop – a company that has also been criticized for short-term loans with typical 3,000% APRs – will only add weight to these claims.

“Cissé earns all this money and for a photo I got fired. I just find it all ridiculous. What upsets me the most is the fact that I have a one year old child and it is difficult to get a job these days, “Natasha, 26, told the Newcastle Chronicle.

Now the outraged mother, who had just returned to work from maternity leave, faces benefit issues after losing the minimum-wage job she had held for two years.

“I think ‘Eee, there is a footballer’ and take a picture. I was just excited. I was behind the counter doing money transfers, but I didn’t do his money transfer, ”she said.

A Money Shop spokesperson said Natasha de Cisse’s photo violated customer privacy and she was fired on Monday for serious misconduct.

Star: Papiss Cissé


Serena Taylor)

His longtime partner Alex and father of the couple’s baby Gracie Kelly said: “You don’t see a footballer every day on West Road. He gets £ 40,000 a week and gets his picture taken all the time. .

“He’s famous and he’s going to have his picture taken. I would have thought it was a silly little thing and she would have been slapped on the wrist.”

Natasha, who worked at the cash desk at The Money Shop, took the photo and sent it to Alex who posted it on Facebook, and from there it was shared on social media and was reportedly seen by Cissé before being deleted 24 hours later.

Natasha: “He comes to the West Road store because he feels comfortable so if he went to town he would get spotted.”

A Money Shop spokesperson said, “Money Shop customers have the right to conduct their business in confidence.

“Any action on behalf of staff that compromises this confidentiality can only be treated as serious misconduct, resulting in termination to preserve the integrity of the company and the trust of our customers.

“It does in this case.”

Student loan repayments may resume soon. Here’s how to write off some of that debt now


Student loan repayments may resume soon. Here’s how to write off some of that debt now

Americans got a long hiatus in federal student loan payments and interest during the COVID-19 pandemic – but the time allotted for that relief is expected to expire at the end of the year.

The US House – which is run by Democrats – has passed a $ 2.2 trillion coronavirus aid package that would allow student loan payments to stay on hold until September 30, 2021 and keep rates low. 0% interest until then. It would also provide up to $ 10,000 in rebate on private student loans per borrower.

But President Donald Trump tweeted Tuesday that the White House would suspend talks with Democrats on a new COVID stimulus bill until after the election. He accuses the President of the House, Nancy Pelosi, of “not negotiating in good faith”.

That leaves around 40 million borrowers wondering whether they will be forced to pay off their student loans again once 2021 arrives.

If you have student loan debt, you should take action now to erase as much as possible, in case payments – and interest rates – return to pre-pandemic levels before further action is taken. relief is adopted.

Here are some things you can do to help you pay off your student debt faster.

Withdrawal of your “break” payments

Pressing pause

trioocean / Shutterstock

While it may be tempting to use the remaining few months of the moratorium to take a break from your student loans, continuing to make your regular payments – or paying more than usual – is a good idea if you can afford it. .

Since the interest rates on federal student loans are frozen at 0%, any payments you make now will go entirely to the principal of your loan.

This means that you will be able to reduce your debt much more than you normally would.

Keep in mind that if you have private student loans, you are probably still responsible for your normal payments, unless your lender has offered you a forbearance period.

Even then, your loan will accumulate interest, so you should continue to make your regular payments if possible.

Refinance private loans

Man on laptop

Vadym Pastukh / Shutterstock

If your student loans are from a private lender, you may be able to lower your monthly fees by refinancing your loan at a lower rate.

Your eligibility for refinancing will largely depend on your current credit score and income.

If you are not sure about your credit score, there are websites that will allow you to check it for free online and give you personalized advice on how to improve it if it is not looking very good. state.

Even if you lost your job due to the pandemic, you may still be eligible for a refi if you can demonstrate investment income or income from a side gig, or find a co-signer to support your claim.

To get the best rate on a refinanced student loan, it’s important to use a free service that will allow you to shop around and compare quotes from multiple lenders.

Keep in mind that refinancing is not an option if you have a federal student loan, and replacing a federal loan with a private loan will make you ineligible for any other government loan relief measure, that is. ie if they ever arrive.

Change your payment plan

Repayment plan

Jack_the_sparow / Shutterstock

You may be able to erase your student loan debt faster by changing your current payment plan.

While an income-based repayment plan can help make your regular payments more affordable, switching to a standard repayment plan could help you get off debt faster, if you are able to pay a mortgage. little more each month.

This option may not be suitable for everyone, especially if you think your income could be affected if another COVID-19 lockdown occurs.

Regardless of your payment plan, you should make sure you sign up for automatic payment if you have a federal student loan.

Signing up for automatic deposits will allow you to benefit from a 0.25% interest rate reduction, which could be very useful if rates return to their pre-COVID levels at the end of the year.

Mississippi payday loan company faces possible shutdown


“A little hiccup means disaster, and that’s what it was for me,” Adam said.

Adam uses his first name only to protect the privacy of his family. He says about six years ago he borrowed money from two payday loan companies. He had nowhere to turn to pay an electric bill and medical bills. Adam says he was denied a bank loan. He recounts his experience.

“It’s that spiral that’s very hard to get out of. You walk in, say you need $ 200, and they’re like okay. Write me a check for $ 274.32,” Adam said.

Adam says the $ 74.32 would be interest for two weeks. He says it took a year and a half to pay off a loan. Adam would take back the check he used as collateral and get a new loan over and over again. He says he now has money saved. Whitney Barkley works for the Center for Responsible Lending in North Carolina. She says payday lenders charge 500% interest rates. Barkley says Madison, Mississippi-based All American Check Cashing is facing violations that could shut it down.

“They would renew borrowers’ loans, which means they would ask them to take out new loans in order to repay the money they owed from old loans, and then shift those fees onto the new loans,” Barkley said.

The company is seeking a court order to prevent the Mississippi Department of Banking and Consumer Finance from revoking its business license. Charles Lee works at the Mississippi Center for Justice.

“I was aware of the investigation. I have been aware of it for about a year and we got the idea that this was happening throughout our interaction with consumers,” said Lee.

Mississippi regulators would not comment. The attorney general’s office said in a statement “this office cannot confirm, deny or comment on the existence or non-existence of an investigation.”

NationalPayday Loan Relief Offers Payday Loan Consolidation


OAKLAND PARK, Florida, Jan. 18, 2016 / PRNewswire / – Abused Consumers Are Trapped; Is there hope for victims seeking help, asks NationalPayday Loan Relief?

Photo – http://photos.prnewswire.com/prnh/20160118/323066

Recent trend shows lenders are targeting demographics, as country outraged by multibillion dollar lending industry calls for immediate action

The battle to free millions of people trapped in abusive loan terms is proving effective as defense firms bring financial relief to consumers nationwide. Although the efforts have been successful, predatory lenders continue to use unscrupulous tactics to lure consumers into unsecured loans, exploiting the need for financial assistance. The loans usually carry triple-digit interest rates and come with high penalty fees for missed payments. When a payment is missed, consumers will use another loan to cover the costs of the original – a cycle of debt, or debt trap, impossible to escape. Recently, the Consumer Financial Protection Bureau (CFPB) and advocacy firms, such as the recently founded National Payday Loan Relief.com, have focused their attention on helping victims settle their debt – and exposing the dishonest nature predatory lenders to prevent further incidents from happening. In a recent article published in the Wall Street Journal, the CFPB announces its intention to regulate at the federal level payday loan companies – a multi-billion dollar industry, enforced by the laws of its own states. This lack of organization allows lenders to distribute loans to individuals living in a state where loans are prohibited.

While options may be limited for some, National Payday Loan Relief.com urges consumers to adjust their budgets and monitor their spending habits where possible, and to avoid unnecessary borrowing until regulations are put in place. square.

“While loans fill a need in times of financial difficulty, the sad reality is that many people resort to them as a temporary solution, but find themselves in an ever-deepening cycle of debt that cannot be broken. We help our clients, in an ethical and moral way, to get out of the cycle and put their financial life in order “, Chantelle Morman, COO, Consumer Capital Advocates, LLC.

For consumers facing incredible debts, efforts are underway to relieve them. National Payday Loan Relief.com (PDLR) has been around for two years and helps consumers overwhelmed with payday loan debt. The company is strongly supported by a team of professionals with over 20 years of experience in the debt mitigation industry. PDLR has helped thousands of clients not only with payday loan debt, but also with unsecured debt, such as credit cards and medical bills. PDLR also offers its clients legal protection and security throughout the duration of the program.

For more information on debt relief, please visit:

www.Nationalpaydayloanrelief.com | (888) .407.4521

SOURCE NationalPayday Loan Relief

Related links


Citigroup – Citi Warns of ‘Significant’ Improvement in Carbon Tax Loan Losses | Zoom Fintech


Citigroup – Citi warns of ‘significant’ improvement in carbon tax loan losses

Citigroup Inc. has found that swift enactment of a carbon tax would apparently lead to a major improvement in losses on loans the bank has made to certain oil and petroleum companies.

In a unique situation modeled by the lender, which applied a tax of $ 50 for every ton of carbon dioxide produced by exploration and manufacturing companies over a three-year interval, Citigroup noticed a “significant but manageable increase in expected losses, “according to a report. launched Thursday.

Check out dynamic updates from key land information points

“It’s an eye-catching train to check a portfolio of buyers in a rapidly emerging carbon price scheme and perceive what’s going on and which buyers are resilient and what are the substances for resilience, ”said Val Smith, Citigroup’s director of sustainability, in an interview.

Citigroup printed the report – the second of its form – as part of the agency’s pledge to implement a collection of suggestions made by employment pressure on monetary disclosures related to local weather. For the latest version of the report, shareholders asked the lender to assess additional short-term local weather risks that Citigroup buyers may face, Smith said.

Throughout the report, the lender has distinguished between the dangers of transition – those associated with the financial system’s transition to much less carbon use, such as new local weather insurance policies or applied science – and bodily hazards, as well as those produced by the bodily impacts of climate change, such as rising seas or excessive weather events.

In evaluating its portfolio, Citigroup found that it lends to 25 industries facing an excessive stage of transition threat or bodily threat.

“It was important to publish this information so that our investors and other stakeholders can really begin to understand where we are exposed and to what extent this is of higher climate risk,” Smith said. “It gives information on where we are going to focus.”

Read more: Polluters are making progress on zero internet, according to local weather Motion 100+

Wall Street is making high calls for a higher measure and to manage the impacts of their loans on local climate change. Citigroup, one of the largest lenders to vitality businesses, said earlier this year that it would measure and disclose emissions linked to its loan portfolio and strive to fund $ 250 billion of sustainable stocks of by 2025.

Citigroup has already started pressuring President-elect Joe Biden and Congress to adopt “ambitious” local climate change options, government chief executive Michael Corbat said in Thursday’s report.

“We understand that climate change is an increasingly important issue for our regulators, investors and customers,” Corbat said. “We know there is a long way to go – and quickly.”

Loan Advances.com announces an increase in the number of payday loan lenders.


LoanAdvances.com recently expanded its panel of payday lenders with the goal of improving the ability of customers to access payday loans online. Additional providers have therefore seen a significant increase in approved payday loan applications.

(PRWeb UK) February 10, 2011

LoanAdvances.com has just announced that there will be additional payday lenders integrated into their online payday loan application system. Having additional lenders has dramatically increased the conversion rates for UK payday loan clients and by having access and success in lending small payday advance loans, many loan seekers Existing and new LoanAdvances.com are now much more likely to be approved. for an unsecured payday loan.

Despite the increase in lenders with LoanAdvances.com, the process of accessing a payday loan has not changed. The online payday loan application form will ask for key data, such as national insurance number and current address. Once this is submitted, the panel of lenders will be automatically informed and the best lender will then be chosen. Payday loans are a form of unsecured loan and are accessible as long as the loan criteria are met by people who are in some form of paid employment. LoanAdvances operates 24/7 and that means no matter what time of day or night, the opportunity to access finance is there.

The additional lenders that have been integrated with LoanAdvances.com manage their repayment structure in the same way as all other payday loan providers. If you borrow a small cash advance loan at the beginning of the month, the loan will need to be repaid at the end of the month; this is related to the salary of the loan seekers.

Barbara Hunt, Principal, is pleased that other lenders have now joined LoanAdvances.com, “this will now give our UK loan applications a much higher chance of being approved for a payday loan. We understand that sometimes trying to access an unsecured cash loan can be difficult. We now have the feature to really help those who need to find a small cash advance fast.

She added, “As we have a professional working relationship with the UK’s leading payday loan providers, we are able to continue to help people who might otherwise be denied credit elsewhere.”


For the original version on PRWeb, visit: http://www.prweb.com/releases/prweb2011/02/prweb5055064.htm

Payday Loan Company Sentenced to Pay Fees to Manitobans


Payday loan company ordered to pay back hundreds of dollars in fees to 61 Manitobans that were overcharged.

The Manitoba government’s consumer protection office said Cash Store Financial Services Inc. violated the maximum allowed fees for short-term loans – $ 17 for every $ 100 borrowed, including all associated fees.

The company, which owns The Cash Store and Instaloans, charged consumers additional fees for payment cards or electronic funds transfers, according to the protection office.

These charges brought the total cost of borrowing above the legal limit.

“It is very important that these thresholds are not exceeded because they are very vulnerable citizens,” Gail Anderson, director of the Office of Consumer Protection, told CBC News on Tuesday.

Gordon Repula, a retired farmer, told CBC News earlier this year about a line of credit he took out from The Cash Store – and the 33% fee he had to pay.

Repula said in February he had to repay $ 133.18 of the $ 100 he borrowed from a line of credit at a Cash Store in Winnipeg.

“This is the worst company we have ever loaned to,” he said.

The government says that people who overpayed at Cash Store or Instaloans stores between October 18, 2010 and October 17, 2012 may be eligible for a refund.

Consumers can call the Consumer Protection Office at 1-800-782-0067.

A spokesperson for Cash Store Financial Services told CBC News Tuesday night that he was following Manitoba laws and had paid back all the money he owed.

The lines of credit offered by the company are legal, the spokesperson added.

“Customers were literally getting ripped off”

The province’s crackdown on Cash Store Financial Services pleased Diane Robidoux of Xtra Cash, a payday lender near downtown Winnipeg.

“I’m really, really happy, because I don’t like what I’m seeing,” she said.

Robidoux said her store never charges more than what’s legally allowed, but added that she has heard many complaints about The Cash Store’s practices.

“Customers think $ 17 is a lot of money and I often want to say, ‘Well, you know, try this place and then come back,’” she said.

“Customers were literally getting ripped off – [that] was my opinion. “

Robidoux said many clients are not even aware that there is a law governing payday loans in Manitoba. The legislation entered into force in 2010.

The Credit Counseling Society of Manitoba says it has seen a 30% decrease in the number of people struggling with payday debt since then.

“These regulations are in place to protect consumers, and they are working,” said Christi Posner, counsel for the company.

But Robidoux said the law was not working well enough, pointing out that The Cash Store had allowed its payday loan license to expire, meaning its line of credit products bypass the law.

The provincial government said it was still working to update the legislation, but said no changes were planned at this time.

payday lender Scott Tucker sentenced to over 16 years in prison | KCUR 89.3


Leawood businessman Scott Tucker was sentenced today in New York to more than 16 years in prison for running an illegal internet payday lending empire.

Tucker, who is also a racing car driver, and Timothy Muir, an Overland Park lawyer who worked for him, were convicted in New York in October of 14 charges against them. Muir was sentenced to 7 years in prison.

Federal prosecutors said Tucker’s businesses were charging payday loan clients illegally high interest rates, up to 700%. They said Tucker, 55, and Muir, 46, tried to thwart state usury laws by falsely claiming that businesses were owned by Native American tribes and were protected by sovereign immunity.

Tucker’s attorney said he intended to appeal his conviction.

In handing down the sentence, US District Judge P. Kevin Castel described the crimes of Tucker and Muir as “a ploy to extract money from people in desperate circumstances” which “created heartache and grief. … Not just financial losses, ”according to a press release from the United States Attorney’s Office for the Southern District of New York.

The Federal Trade Commission also sued Tucker for deceptive and unfair debt collection practices. In October 2016, a judge sentenced him with a judgment of $ 1.3 billion. The FTC said it was the biggest award it has ever won in a contentious case.

Tucker, who plays on American and European racing circuits, was sentenced to one year in prison in 1991 for making a false statement to a bank.

Dan Margolies is a senior journalist and editor for KCUR. You can reach him on Twitter @DanMargolies.

“Wonga offered me a payday loan that was higher than my monthly salary”: the borrower had to fight to get out of a debt spiral


“Wonga offered me a payday loan that was higher than my monthly salary”: the borrower had to fight to get out of a spiral of debt

Steve Doran took out a payday loan in March 2011 and did not pay off his debts until early this year.

She first borrowed around £ 170 but after paying it off took another larger loan, then eventually borrowed more than three times the original amount.

Steve, 26, of Dartford, Kent, believes young people need to be alerted to the dangers of payday loans. “My exits matched my entrances, but there was little room for an emergency,” she says.

VICIOUS CIRCLE: When Steve Doran paid off her loan she had nothing left to live on, so she had to borrow again

“When I paid off the first loan, I didn’t have enough money to last the month, so I took out another loan and the cycle continued. “

Steve, who works as a activities coordinator at a retirement home, borrowed from payroll giant Wonga, which operates a “trust score.”

This means that borrowers who repay on time are often rewarded with the opportunity to borrow more next time. Steve says she was finally offered a loan that was greater than her monthly salary, which she did not accept.

“It was only bloody determination that got me out of this spiral of debt,” she says.

“I was always afraid to admit to anyone that I had problems because I was afraid people would judge me. It’s not just about staying awake at night wondering how to repay – you feel lonely too. I don’t want other people to feel that way.

Wonga says Steve changed his salary details, which is part of the loan decision criteria and could explain why he was offered more than his monthly income.

He said, “Wonga is committed to lending money only to people who can afford to repay it in a timely manner.

“An example of a loan offer exceeding the salary should not be possible, but we are not perfect.”

The company claims that 85% of loans are repaid on time and less than 10% of loans are extended.

“Our distraught friend has embarked on a nightmare”

Arthur Breens and his wife Judy, 69, were deeply touched by the plight of a friend in debt who came to them for help last summer. She had gotten into trouble after taking out loans from several online and high street lenders.

Anna (not her real name), 30, has learning difficulties and didn’t realize what she was getting into when she initially borrowed less than £ 500.

High rates, penalties and debts converted into new loans saw the original loan multiply to £ 5,000.

COMFORT: Arthur and Judy Breen advised a young friend

COMFORT: Arthur and Judy Breen advised a young friend

Unexpectedly, money was also taken from her bank account, a common – and legitimate – feature of payday loans. Arthur, 66, a builder from west London, took time off to sit with his friend and try to put together the documents.

He said, “It was a nightmare scenario – she had completely lost track. It was so sad for us to see this bright, happy young girl crying in front of us, and to see the financial tangle she was in.

Anna had used a mix of online and Main Street payday lenders. Things get even more complicated because part of the debt has been ceded to collection companies.

“It was difficult to determine what had been transmitted to whom and when,” explains Arthur. Feeling overwhelmed, Arthur took Anna to seek professional financial help.

A small repayment has been made and the rest of the debt will be written off. He says, “She understands that she has borrowed too much and is not paying it back, which she feels guilty about.
“But the companies haven’t even verified its status and it’s clear to me that’s all too common.”

The right way to borrow … what you can pay back

Payday loans should only be used when customers are confident they can repay after the month has passed.

And the priority in choosing a lender should be cost, not speed.

COMPARE: The difference in the cost of a 30-day £ 100 loan can be as high as £ 37, so it’s essential to compare.

Choose a lender belonging to the Consumer Finance Association, the Consumer Credit Trade Association, the BCCA or the Finance & Leasing Association, which represent short-term lenders. In theory, members should follow a customer charter of best practices. Pay back on time.

CONSIDER ALTERNATIVES: Ask your bank what overdraft it offers and the fees.
First Direct offers £ 250 interest-free as standard with its 1st account, while Nationwide offers a three-month interest-free overdraft with its FlexAccount.

Santander allows new customers to use an arranged overdraft at no interest and charge for four months with its two checking accounts, after which charges apply.

The Tesco Bank Clubcard credit card gives 16 months of interest-free credit. Barclaycard Initial – for people with bad credit – offers three months interest free on purchases. The interest rate due after three months starts at 29.9 percent, but could be higher, depending on who makes the claim.
To put that in perspective, £ 100 borrowed and repaid in a month would cost around £ 2.50.

You can find more credit card examples with comparison sites like MoneySupermarket or GoCompare.

ASK FOR HELP: In the event of a crisis, make an appointment at your local Citizens Advice Office (citizensadvice.org.uk) or contact Step Change (stepchange.org, 0800 138 1111) or the National Debtline (nationaldebtline.co.uk, 0808 808 4000).

Some links in this article may be affiliate links. If you click on it, we can earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Nimble Money payday lender for sale, offers due this week


The company had sales of $ 56 million and a profit of $ 4 million in fiscal 2017, according to accounts filed with the business regulator. As of June 30, it also had a loan portfolio of approximately $ 40 million, partly funded by Silicon Valley-based private equity firm Partners for Growth, which provided a $ 20 million loan. to the society.

The Tyrekickers have been told that the 2018 numbers are expected to be higher, following investments in brand awareness, including TV advertising.

It is understood that the two-step sale process was triggered by an unsolicited offer for the company, which was allegedly issued by one of the existing shareholders.

The public unlisted company was founded by friends Sean Teahan and Greg Ellis in 2007, before changing the name to Nimble Money in 2012.

The company has attracted outside investors in recent years, with stock broker Baillieu Holst making a pre-IPO placement in 2014. Melbourne-based private equity firm Lempriere Capital Partners is said to be an investor, as is the founder of ‘iSelect, Damien Waller, and Melbourne lawyer Leslie Webb. .

However, the company has so far failed to live up to its potential.

Those who switched to the 2014 placement were asked to expect revenue of $ 76 million and EBITDA of $ 15 million in calendar year 2015, and issued checks based on an enterprise value of approximately $ 140 million.

Elsewhere, KPMG has claimed another industry scalp for its foray into the world of client advice and marketing by adding former second manager of Zenith Australia media agency Karen Halligan to its team.

It is understood that Halligan will start at KPMG as a director and report to partner Carmen Bekker, who was hired late last year to lead a marketing director advisory team.

FTC files lawsuit against payday loan transaction claiming tribal affiliation – The Denver Post


The Federal Trade Commission filed a lawsuit Monday against an online payday loan transaction that claimed Native American tribal affiliations were circumventing state regulations.

The FTC said the lender allegedly racked up undisclosed and inflated fees and illegally collected loan payments by threatening borrowers with arrest and prosecution. The agency has asked a federal court to stop the allegedly illegal business tactics while the FTC continues its action against the defendants.

The loan transaction had been the target of eight years of investigations by the Colorado attorney general’s office. However, a Denver district judge ruled in February that the attorney general could no longer investigate because tribes affiliated with lenders are protected from state investigations by tribal sovereign immunity laws.

The FTC alleges that the claims of the tribal-affiliated defendants do not exempt them from complying with federal law.

The named defendants in the FTC case are Scott A. Tucker, Blaine A. Tucker, Timothy J. Muir, Don E. Brady, Robert D. Campbell, Troy L. LittleAxe, AMG Services Inc., Red Cedar Services Inc., SFS Inc., Tribal Financial Services, AMG Capital Management LLC, Level 5 Motorsports LLC, LeadFlash Consulting LLC, PartnerWeekly LLC, Black Creek Capital Corp., Broadmoor Capital Partners LLC and Muir Law Firm LLC.

A related case investigated by the Colorado Attorney General alleged that the Cash Advance and Preferred Cash Loans, controlled by Scott Tucker, had formed affiliations with the Miami Tribe of Oklahoma and the Santee Sioux Nation of Nebraska to circumvent state regulations.

Critics called the arrangements “rent-a-tribe.” The Native American Fair Commerce Coalition, an advocacy group for tribes engaged in online commerce, said the FTC lawsuit was a concern.

“We are surprised that the FTC is taking this step,” said Barry Brandon, executive director of the group. He said the recent Denver District Court ruling shows that the tribes were legitimately involved in the business and that their sovereign immunity was appropriate.

The FTC said the loan transaction generated more than 7,500 complaints to law enforcement authorities. In many cases, defendants’ inflated fees left borrowers with supposed debts of more than triple the amount they had borrowed.

Steve Raabe: 303-954-1948 or [email protected]

Payday Loan Company Targeting Struggling Brits In Facebook Groups Charging Up To 306% Interest


STRUGGLE families warned to be wary of cash offers on social media sites after a payday loan broker targeted Facebook buy and sell groups.

Bee Loans masqueraded as individuals on Facebook to recommend that users take out loans of £ 100 to £ 5,000, with an exorbitant interest rate of 305.9% APR.


Bee Loans impersonated individuals on Facebook to get people to take out their loans

After being contacted by The Sun, the broker “suspended” the use of such advertisements saying he was not aware of what was going on.

In an ad, which was spotted by Charlotte Burns blogging on Lotty Earns, someone commented on a local buying and selling group saying, “What are the odds of me getting a loan today. I need around £ 600 and i don’t have good credit at all. Who will deffo help plz [sic]”.

What appears to be an individual then responds with the following: “Bee Loans will make that amount for you, they make loans for people with very bad credit.”

“I got £ 800 last Christmas which really helped me.”

To which the original user replies: “Great, I just searched for them on google, is this the right website for them? ApplyNow.beeloans.co.uk/ #Ad”

    LottyEarns discovered that Bee Loans was posing as Facebook users to promote its loan brokerage service


LottyEarns discovered that Bee Loans was posing as Facebook users to promote its loan brokerage service
    Another Twitter user reports seeing this Bee Loans ad on Facebook


Another Twitter user reports seeing this Bee Loans ad on Facebook

The commentator then responds by saying, “Yes this is the correct one, if you ask for that amount now it should be with you in the next few hours they are usually really quick.”

To which the original poster responds: “Ok, thanks for your help, I’ll do it now x #sponsoredad”

It was only the inclusion of “#Ad” and “#sponsoredad” that aroused Charlotte’s suspicion.

And it looks like Charlotte is not alone. When she tweeted about it, someone else said they saw a similar thread on another local Facebook page.

Again, what looked like a chat between two Facebook users also included the words “#Ad” and “#sponsoredad” in the posts.

According to the rules of the advertising watchdog, advertisements must be “obviously recognizable as such” – whether on social media or otherwise.

They don’t necessarily need to include hashtags to say they’re an advertisement, but the Advertising Standards Authority (ASA) says that “the status of a tweet, blog, vlog, d ‘an Instagram post or story should be clear “.

How to request a refund from payday lenders

YOU can seek compensation from a payday lender if the loan was unaffordable, even if you have finished paying it off.

If you believe you are entitled to compensation, you should follow these DebtCamel steps to find out how to make a claim.

1. Check if you sold the loan incorrectly

Before a lender gives you a loan, they must check whether you are able to repay it.

For a payday loan to be affordable, you need to be able to pay it off the next month as well as pay your other bills and debts.

The loan was unaffordable if:

  • you often renewed loans or borrowed again soon after repaying a loan;
  • your loans from a lender were increasing in size;
  • some reimbursements were late; Where
  • the loan was a big part of your income.

Ask the lender for a copy of your loan details, such as when you took it out and how much interest you paid.

Compare it to your bank statements from the time you took it out and see if you could have paid off the loan after paying your bills.

2. Make a complaint
There are websites that will help you submit your complaint to the lender, but be aware that if you are successful, they will take part of your compensation.

DebtHacker.co.uk is a completely free tool that will help you in the same process.

If you prefer to do it yourself, you should write a letter or email citing “unaffordable loans” and request a full refund of the interest and fees you paid, plus the 8% interest on the loan. ombudsman in addition.

Also request that the loan be removed from your credit report.

You can find letter templates in DebtCamel, MoneySavingExpert, and MoneyAdviceService.

3. Contact the Mediator

If you have not heard from them after eight weeks, you must contact the financial mediator.

You should also contact them if your complaint is dismissed, the repayment is too low, or if they refuse to consider loans that are over six years old and have been sold to a debt collector.

In a statement, William Ellis Sinclair, who is both behind Beeloans and short-term loan research site Moolr, said: “Bee Loans is a trading style of William Ellis Sinclair (WES), an established financial broker. .

“WES has been made aware of a problem with the advertisements promoting Bee Loans today, January 10, 2019. These advertisements were designed and maintained by an advertising affiliate and do not appear to comply with WES advertising guidelines as the affiliates must follow.

“We have therefore decided to take steps to suspend this type of advertising for the time being, pending review.”

Sara Williams, a consultant for the Citizens Advice charity and blogger at Debt Camel, warns that short-term loans can “sting”.

She wrote on Twitter, “Stop looking for a loan,” they say… then they quote a 305% APR representative. Ouch it stings “.

Sara added, “It can be quick and easy to find a bad credit loan through Bee Loans, but it can be long and difficult to pay it off.

“If you’re struggling with bills and debt, talk to your creditors about a payment arrangement or look at a free debt management plan – borrowing more only makes your situation worse the next month.”

If you already have a relationship with Bee Loans, be sure to speak to the right company, as the Financial Conduct Authority (FCA) has issued a warning regarding companies trying to clone the loan search engine.

You can also file complaints about what you believe to be misleading advertisements through the ASA website. The Sun will report Bee Loans Facebook ads to the watchdog.

Millions of people could have to repay payday loans, as lenders were warned only last year to offer unaffordable loans.

We spoke to a father of two who got £ 3,750 back on a £ 600 payday loan he couldn’t afford.

Meanwhile, there is a new free tool that could help millions of people seek repayments from payday lenders for unaffordable loans.

brian flynn personal info payday loan details scam

We pay for your stories! Do you have a story for the Sun Online Money team? Write to us at [email protected] or call 0207 78 24516. Don’t forget to join Sun Money’s Facebook group for the latest great deals and money saving tips.

Increase in consumer complaints about fraud, banking and payday loans


An increase of over 40% in consumer complaints about fraud and scams has helped bring the total number of complaints found by the Financial Ombudsman to its highest level in five years.

The Financial Ombudsman Service (FOS), which resolves cases where consumers and financial firms fail to reach an agreement, said the total number of new complaints it received in 2018-2019 increased by 14% by year to reach 388,392 – despite a decrease in PPI complaints.

PPI (Payment Protection Insurance) is the biggest subject of litigation the Financial Ombudsman Service (FOS) has ever seen, with a total of over two million complaints registered.

But for the first time in 10 years, PPI complaints accounted for less than half of new complaints received, accounting for 46% of the total in 2018-19.

And while grievances over the PPI appear to be easing as the August 29 deadline approaches, complaints about some other products and services are on the rise.

Complaints of fraud and scams increased by 43% in 2018-19, with 12,195 new complaints received – a record annual total for the service, which began collecting such numbers in 2015-16.

Authorized push payment fraud (APP) – where someone is tricked into transferring money directly to a fraudster – is one of the fastest growing types of fraud, the ombudsperson said.

A new voluntary code to help victims of APP fraud is introduced in May as part of efforts to tackle the problem.

Caroline Wayman, Chief Ombudsman, said: “People manage their money in different ways, and fraud and scams are getting more and more sophisticated.

“We know from the complaints we see that banks don’t always treat victims of fraud fairly.

“They have to do better.”

Speaking of complaints in general, she said: “Too often we find that the interests of consumers are not rooted in financial services.

“This marks a five-year high in the number of complaints consumers have made to us, and the behavior we’ve seen from some companies is just not good enough.

“While we see examples of companies responding well to customer concerns, we also see many companies that are not. Our message to businesses is that practices must improve. “

The FOS also said it has seen a “surprising” 130% increase in new payday loan complaints, with nearly 40,000 new complaints filed last year.

Its report for 2018-2019 also highlighted several other areas of concern.

Banking and credit complaints increased by 8% over the previous year, with 150,000 complaints filed with the mediation service.

The FOS said it was clear that banks did not understand the individual impact of IT failures on consumers – with technology glitches that blocked millions of bank customers from their accounts last year.

There were 41,069 current account complaints in 2018-19, a 27% jump from the previous year.

Some 42% of current account complaints handled by the financial ombudsperson last year were upheld in favor of consumers – compared to 28% of complaints overall.

And home emergency coverage and building insurance have seen an increase in the number of complaints.

Building insurance claims increased 42% (to 6,723) and home emergency coverage claims increased 38% (to 2,751).

And there were 180,507 new PPI complaints, up from 186,418 in 2017-18.

Research also found that millennials under the age of 34 are particularly likely to complain about checking accounts and payday loans, while older groups are more likely to complain about PPI, which has been widely mis-sold. few years ago.

You might be interested in …

Here are the products that different age groups are most likely to complain about, ranked from first to third most likely, according to the Financial Ombudsman Service:

Under 25

1. Current accounts

2. Payday loans

3. Auto / motorcycle insurance

25 to 34

1. Payday loans

2. Current accounts

3. PPI

35 to 44

1. PPI

2. Payday loans

3. Current accounts

45 to 54

1. PPI

2. Payday loans

3. Current accounts

55 to 64

1. PPI

2. Current accounts

3. Credit cards

Over 65

1. PPI

2. Current accounts

3. Credit cards

Hamilton votes to restrict new payday loan spots to no more than 15


Hamilton on Tuesday became one of the first cities in Ontario to limit the number of payday lenders within its boundaries.

The city councilors voted not to authorize more than 15 companies of this type, that is to say one per district. It may even restrict them completely to the city center and around Flamboro Downs.

They will stop at nothing to exploit people.-Tom Cooper, Hamilton Roundtable on Poverty Reduction

The city’s 30 existing payday loan spots would remain, vested in under the new bylaw. And the city council has yet to ratify this decision on February 28.

But Ward 3 councilor Matthew Green says he hopes this will encourage other cities to “kick out (the payday lenders) from the base.”

Green said he has seen “the pressure that occurs when (users) fall short on these products.

“The vicious nature of collection companies. The impact it has on people with the incessant phone calls. The call from family members. The pressure it puts on people to pay back these things when they are not. ‘have never had the chance to pay them in the first place. “

The city passes the bylaw after the province passes Bill 59. Under the law, the province allows local municipalities to regulate the location and number of payday lending establishments. This came into effect on January 1.

Our customers send us Christmas cards.– Patrick Mohan, Canadian Independent Payday Loans Association

Two payday loan associations told advisers the industry is poorly understood. They give loans when banks don’t, often for emergency purposes like paying for a car, said Patrick Mohan, president and co-founder of the Independent Payday Loan Association of Canada.

“Our customers send us Christmas cards,” he said.

But Tom Cooper, director of the Hamilton Roundtable for Poverty Reduction, said misleading advertising and annual interest rates of up to 391 percent attract people and cost them dearly.

In 2014, he said, local payday loan outlets had a program to buy Christmas gift cards from people for 50 cents on the dollar.

“This has provided us with a lot of insight into this industry,” Cooper said. “They will stop at nothing to exploit people.”

Getting a loan from strangers on the Internet


The Internet is a powerful mechanism for connecting buyers and sellers who might otherwise never have met. Although the power of this system has often been used to sell second-hand books, trade CDs, or unload “collector” clowns in firefighter disguise, there is no reason that it does not work so well for , say, loans.

Prosper.com, a recently launched website, aims to do just that: connect those who have a little extra cash with those who need it. Salon publishes a long article on Prosper, describing the system as a “market overflowing with doom”. This is because users who need money post their stories and photos online and lenders can decide if they are ready to lend the money. This setup ensures that most stories are heartache stories designed to explain why the potential borrower, despite the odds so clearly against them, deserves a small loan from a complete stranger. For example, a randomly drawn list reads as follows:

“Hello. I’m looking to pay my Chase credit card, which has a balance of $ 2,900 at an APR of 31.49% because it’s too close to their $ 3,000 limit. Once that’s paid off. , I’ll tackle the $ 4,300 Discover card, which has a 25% more reasonable APR. Priorities! I divorced in February and I’m having a little trouble with the costs involved since that time. That concludes the points negatives, now the positives. I have my own video production business, mainly working on commercials and videos for businesses and organizations. I’m also a month away from the end of my freelance documentary on accepting size and discrimination: The Bigger Picture. I pay my bills on time, all the time. I like to earn more than the minimum payment. I have no expensive hobbies (outside of the cinema) and I do neither drink nor smoke. I have no big expenses to come. Now I am not married and I have sold the home, my living expenses have gone down quite dramatically. Thanks for your consideration. “

Potential lenders review this information and decide whether or not to grant a loan. The borrower’s publication indicates the highest interest rate the borrower is willing to pay; lenders offer a small amount of money (often $ 100 or less), usually at the highest interest rate, and collectively fund many of these loan applications. Prosper takes care of all the money distribution and collection, and takes a small share for himself. Loans don’t just go to the people who write the best sob stories; Prosper also offers tools to help lenders make an informed decision.

“To post a list of loans on the site, borrowers determine the amount they are looking for and the maximum interest rate they are willing to pay. (You can borrow up to $ 25,000 on Prosper; depending on the state you live in, you might also face a minimum loan amount.) Borrowers give Prosper some personal information (annual income, account number bank and social security number) and authorize the site to collect financial data from credit agencies. Prosper shows the data to potential lenders. it collects, including a credit score, the number of lines of credit the borrower has opened in the past decade, the number of defaults he has had and his debt-to-income ratio. “

The advantage of this system is that it allows humans, rather than machines, to make lending decisions. Lenders can consider a person’s history and circumstances, but the downside is that they cannot be sure these stories are true. Perhaps surprisingly, however, Prosper’s default rate is actually better than that of credit card companies, even though people asking for money are often the type who are turned down by traditional lenders. It also allows people to borrow a few thousand dollars at rates much lower than those typically charged by credit cards and payday lenders, making it easier to repay these loans and helping those who borrow escape the cycle. indebtedness.

CFPB removes some consumer protections for payday loans


Federal regulators have finalized a new rule for payday lenders that removes a key provision developed under the Obama administration. Under the revised rule, lenders will no longer have to verify that borrowers can repay their loans when due.

Consumer advocates say without this protection borrowers are often trapped and have to borrow over and over again, at interest rates of up to 400%.

The Consumer Financial Protection Bureau – a watchdog agency created in the aftermath of the 2008-09 financial crisis – attempted to curb the practices of payday lenders, crafting a rule that was finalized in 2017. The Trump administration s He has been trying to dilute the rule since he took over the office of consumer affairs at the end of the year.

The payday loan industry has welcomed the overhaul.

“CFPB’s action will ensure that essential credit continues to flow to communities and consumers across the country, which is especially important in these unprecedented times,” said D. Lynn DeVault, President of Community Financial Services Association of America, an industry trade group. .

Consumer groups have lambasted the content of the new rule and its timeline during a pandemic that has left tens of millions of people out of work.

“There’s never a good time to authorize predatory loans with 400% interest rates, but it’s the worst possible time,” said Mike Calhoun, president of the Center for Responsible Lending. “The pain caused by the CFPB gutting the wage rule will be felt most by those who can least afford it, including communities of color who are disproportionately targeted by payday lenders.”

The revised rule leaves in place another Obama-era provision that is designed to limit the ability of payday lenders to make repeated attempts to debit borrowers’ bank accounts. This measure – which is currently suspended by court order – can help avoid costly overdraft fees.

Copyright 2021 NPR. To learn more, visit https://www.npr.org.

Payday Loans, Online Style – Los Angeles Times


Many unsavory businesses are moving into the sordid belly of the internet, including some particularly unscrupulous payday lenders who use high fees and shady methods to empty borrowers’ offline bank accounts. This month, the State Department for Business Oversight took an important step to protect Californians from these predators by warning banks and credit unions not to process transactions from unlicensed online lenders. It was the latest in a growing number of moves by state and federal regulators to weed out the worst providers of a risky form of credit.

Advocates of payday loans say they are an important last resort option for Californians with cash flow problems and bad credit, even though they can be more expensive than conventional credit cards or bank loans. . The way they usually work is for storefront lenders to ask borrowers to write them a post-dated check for a loan plus fees. Checks are cashed two weeks later, presumably after the borrower’s next paycheck. Online lenders do it differently: they ask borrowers to grant them electronic access to their bank accounts, which allows lenders to transfer money in and out. The state has a relatively low limit on payday loans – no more than $ 300, including fees up to $ 45 – and prohibits lenders from giving clients a second loan until they have paid off the first.

State law applies its lending rules and licensing requirements to any entity that does business here, regardless of where it is based. Nonetheless, many out-of-state online lenders (some headquartered in offshore tax havens) have flouted these requirements, as have others who have partnered with Indian tribes. The unscrupulous levy outrageous fees or dairy borrowers’ accounts for fees and interest for months, extracting far more than state law allows.

Now California is trying to cut off unlicensed lenders ‘access to its residents’ bank accounts. Business Supervision Commissioner Jan Lynn Owen sent a letter Oct. 7 to all state-licensed banks and credit unions, warning them that they may violate or facilitate a violation of federal law and state, as well as concerns about their safety and soundness, by allowing electronic transactions with unlicensed online lenders. She asked them to stop doing business with 16 specific online payday operations and redouble their efforts to identify and exclude other unlicensed lenders.

Similar efforts are underway in New York and other states, putting pressure on operators of electronic transaction clearinghouses that banks rely on to stop serving law-breaking payday lenders. . It’s probably a much more successful approach than trying to crack down on sites that may shut down and restart under a new name or in a new location overnight – or that try to protect themselves with claims of tribal sovereignty. The online payday loan industry is growing rapidly, accounting for more than 38% of the nearly $ 50 billion payday loans in 2012, according to one estimate. It’s crucial that consumers who turn to these lenders have at least as much protection as they would if they borrowed from the corner store.

McKenzie payday loan millionaire dies at 59


Toby McKenzie

A basketball arena at UTC has been named for him. Millions of his dollars have gone to local schools, charities, ball fields and individuals.

Steve “Toby” McKenzie, originally from Cleveland, Tennessee, who grew up in poverty, built a fortune as a pioneer of the national check-cashing and payday loan industry in the early 1990s. He invested millions in over a hundred businesses and real estate speculations and then lost almost everything during the economic recession.

More than a year before McKenzie died Thursday of unknown causes, he begged his hometown to help him fight an involuntary bankruptcy which he said left him penniless, unable even to afford the medication needed.

He was 59 when he died in a hospital in Chattanooga. He is survived by his wife, Rebecca McKenzie, his three children and his two daughters-in-law.

“Toby left a legacy of generous support for the community he loved,” said D. Gary Davis, Mayor of Bradley County. “He was a great supporter of education.… My thoughts and prayers are with his family. Toby will be missed.”

McKenzie’s disgrace has become a public saga.

In 2008, when his bankruptcy began, the court ordered him to make $ 11.5 million in lease payments on the defaulting properties.

The following year he risked losing his two homes, each worth more than half a million dollars, and his personal assets were liquidated. In total, he owed more than $ 200 million to 40 creditors across the country, according to the records.

The University of Tennessee withdrew its name from an athletics building because it broke its financial promise. His ex-wife, Brenda Lawson, paid part and the building was named for her instead.

Yet he fought the creditors every moment. He told reporters that he had never done anything embarrassing or unfair.

McKenzie sued a former business partner. His wife went to court and begged a judge for their relief, saying the bankruptcy case had crippled them.

“When my husband was handing out money left and right, everyone was there, right? “Said Rebecca McKenzie in tears in bankruptcy court in the spring of 2010.” This man literally gave millions to this community, but when he had such serious medical problems [after declaring bankruptcy], we couldn’t even ask the trustee to help us pay his medical bills. “

In January 2012, a letter from McKenzie appeared in the Cleveland Daily Banner asking for public support and prayer. He said he made a legal request so that everyone involved could come to an agreement or a settlement.

He said he had no medical coverage and was diagnosed with hepatic encephalopathy, a disease caused by liver failure that leads to confusion and coma. He said without help he would die.

Nothing good had come of the bankruptcy case, he wrote, adding that it continued because of the greed of others.

“When I say I want my life back, it literally means,” he wrote. “They left me absolutely nothing.”

Finally, in March, the bankruptcy case was heading for a comprehensive settlement, just a month before his death.

His family will receive his friends from 5 p.m. to 8 p.m. Saturday at Fike Funeral Home

A funeral service will be held Sunday at Mount Olive Church of God in Cleveland, of which he was a member.

Contact editor Joan McClane at [email protected] or 423-757-6601. Follow her on Twitter at @JoanGarrettCTFP.

Almost half of UK workers suffer from ‘money stress’ before payday


One in five had to resort to payday loans at some point in the past year, while two in five (43%) were forced to use their overdraft to cover costs in the past week before their next payment. Photo “Francisco Moreno / Unsplash

Almost half (46%) of all UK workers suffer from money stress and anxiety in the week leading up to their next payday, research shows.

Londoners are the hardest hit, with three in five workers (57%) in the capital feeling undue pressure during this time, according to a study by the pay-on-demand app fastPAYE.

These results are somewhat surprising, as two in five UK workers (78%) live hand to mouth in February 2020 – unable to cover unforeseen costs when they arise.

As a result of these financial struggles – many of which have been exacerbated by the ongoing COVID-19 pandemic – many workers have admitted to turning to “alternative” funding as an unfortunate necessity.

WATCH: What UK government COVID-19 support is available?

READ MORE: Sticking to New Years Resolutions could save Britons £ 137 billion a year

One in five had to resort to payday loans at some point in the past year, while two in five (43%) were forced to use their overdraft to cover costs in the past week before their next payment.

Disturbingly, this is the most common ‘alternative’ method of financing credit cards, with 55% having to rely on one to fend for themselves until the end of the month. which could generate long-term interest to survive in the short term.

More than a third (36%) said they are likely to use the money or credit they acquire to help them out in the week leading up to payday to pay for their groceries.

Bills (27%), leisure activities (19%) and home repairs (15%) were also common reasons for additional borrowing, according to the survey.

READ MORE: COVID-19 – Low-paid workers in UK more than twice as likely to lose jobs during pandemic

One in five workers said they would consider a new job in the same role if they gave them access to their already-earned wages before payday.

“[The findings] are of deep concern in terms of implications for people’s mental well-being as payday approaches – however, they also expose a salary payment structure that is no longer fit for purpose, ”said Lee Bowden, commercial director of fastPAYE.

“As working practices evolve and the way we treat and manage money transforms, the way we pay labor has hardly changed.

“One-fifth of those surveyed saying they would consider moving to another company in the same role if that company gave them access to wages already earned before payday is a sign of changing times and the expectations of workers in the modern workplace. “

WATCH: Why can’t governments just print more money?

Loan becomes easy with ATD Money “Payday Loan”


Aug 20, 2019 10:56 AM STI

New Delhi [India] Aug 19 (ANI / NewsView): Renowned ATD Fintech company with its ATD Money app launches a “payday loan” which aims to help employees in the corporate sector during times of financial crisis.
ATD Money app is a rapidly growing mobile app that provides instant and cashless loans to the working class.
Often we notice that the working class faces financial crises at the end of the month due to unforeseen expenses. So, to help employees, ATD Money app has developed a ‘payday loan‘ which provides short term financial support to employees in business sector / organizations to meet their immediate cash shortage on the basis of their average monthly salary.
When taking out a loan, one of the main concerns is the interest that is charged on the principal amount that the borrower has to pay extra out of pocket. To alleviate the interest burden, ATD Money offers a unique method of repaying the interest paid for the loan by purchasing products from the online e-commerce site “Myshopbazzar.com”.
“We are happy to launch the payday loan model and help employees in the corporate sector during their financial emergency. In this model, we give them money that is a small amount for a short period of time. Banks and other financial institutions are not very We would like to reach more people and offer them simple and hassle free services, ”said Manoranjan Mohanty, CEO of ATD Fintech Services Pvt Ltd.
The working sector with a salary range of 15 to 250,000 per month and aged 22 to 50 is eligible for payday loans. ATD Money app can be downloaded from Google Play Store. Today, most of the workers are engaged in an organized industry in India which is facing a financial crisis in their day to day life. Therefore, the market opportunity in this sector is very high.
This story is provided by NewsView. ANI will not be responsible for the content of this article in any way. (ANI / NewsView)

Payday lender Scott Tucker appeals $ 1.3 billion fine


Scott tucker

Scott tucker

Photo file

Payday loan businessman Scott Tucker wants an appeals court fined him $ 1.26 billion last year in a case filed by the Federal Trade Commission that accused the Leawood resident of fraudulent lending practices.

Tucker, a professional racing car driver who made his fortune in short-term consumer loans, says the FTC went beyond its authority in its case against him, relied on lousy evidence to determine the amount of the fine of $ 1.26 billion and failed to prove that his company’s loans were misleading.

Tucker, through his attorneys, filed a 110-page brief Friday night to the U.S. 9th District Circuit Court of Appeals which also argues that a judge in the case ignored the evidence who favored Tucker by deciding that the FTC had built a compelling case showing that his company extended and recovered on illegal loans.

An FTC spokesperson declined to comment on the allegations made in Tucker’s appeal, citing an ongoing litigation. The FTC previously noted that the $ 1.26 billion penalty against Tucker was the highest amount obtained through litigation in the federal agency’s history. The case ended in late September 2016 when a Nevada judge issued summary judgment in favor of the FTC.

Tucker, who attended Rockhurst High School and later Kansas State University, created a leading online payday loan operation through various companies including AMG Capital Management, Black Creek Capital Corp . and Broadmoor Capital Partners. Tucker’s appeal brief says his companies made more than one million loans in 2011 and $ 5 million between 2008 and 2012.

Loan and service companies operated in Overland Park, where about 600 employees worked. The companies also claimed affiliations with Native American tribes, relationships that the FTC said were nominal in nature and aimed at evading state usury laws.

In 2012, the FTC sued Tucker and his companies, alleging that consumers took loans on deceptive and deceptive terms, infringed on undisclosed fees, and threatened borrowers when she tried to collect loans.

A New York grand jury indicted Tucker in February 2016 on similar allegations; Tucker’s criminal trial is scheduled to begin in September. He has pleaded not guilty and denies committing any wrongdoing.

Tucker’s call said the FTC was relying solely on its in-house data analyst to substantiate its claim of more than $ 1 billion in consumer damages. Tucker’s call said the analyst had no knowledge of the record keeping of the loan transaction, was not an expert in statistics or economics, and produced unreliable calculations with a basis of loan information data.

The appeal also pointed out that the FTC “handpicked” four clients of Tucker’s lending operations to testify in the case who, when questioned, admitted that they had not read the loan disclosures and the understood once they did.

Tucker claims in the appeal that the judge overseeing the FTC case authorized the use of inadmissible evidence by the FTC while ignoring evidence of loan transactions that contradicted the agency’s claims. Taken together, Tucker argued that the judge should not have been able to rule on summary judgment in favor of the FTC.

The FTC has until August 21 to respond.

Council to vote on ban on future ‘predatory’ payday lender groups


Content of the article

City council will vote on Monday on proposed land use rules that would ban new clusters of payday lending businesses, given concerns that these high-interest lenders have sprung up in low-income neighborhoods.


Content of the article

Com. André Chabot welcomed the recommendation of municipal staff that payday loan outlets should be 400 meters apart, calling the proposed regulation a “good first step” to regulate these lenders.

Chabot said the separation distance was greater than he expected given city hall requires liquor stores to be 300 meters apart. But he said the move would limit the growth of payday lenders in the hopes that consumers would seek loans and financial advice from banks.

“It’s probably more evident in my area than anywhere else in the city, so for me (the proposal) is a good first step,” said Chabot, the councilor for Ward 10. “But it’s going to take a long time before that. to see how this will impact my communities because they are already there. “


Content of the article

Payday loans are a short-term, high-interest form of credit that allows customers to borrow up to $ 1,500.

In Alberta, payday lenders are permitted to charge $ 23 per $ 100 borrowed, with the rate accruing over a short period. This is an interest rate of 600% on a $ 300 two-week loan at the maximum borrowing rate.

Last March, the city’s planning and urban development committee voted in favor of amendments to the land use by-law that would prohibit payday loan companies and pawn shops from being within 400 meters from another such business.

In Calgary, payday loan businesses are clustered along major corridors, including 17th Avenue SE, 36th Street SE, Center Street North, and Macleod Trail S.

According to a report to the council, businesses tend to be located where community household income is about 70 percent of the average household income in Calgary. The report also states that these communities have significant corridors, which is likely another factor in the location of payday loan companies.


Content of the article

The administration says the 400-meter separation between businesses will help reduce future consolidation and create “viable local and mixed-use areas.”

Com. Druh Farrell said city hall has few regulatory tools to restrict the payday lending industry, but said the proposed regulation would limit the growth of “predatory” lenders focused on low-income neighborhoods.

“Somehow we’ve accepted this as normal, but it’s predatory,” Farrell said. “I hope the new provincial government will take stronger action.

The NDP government has signaled its intention to review payday loan regulations by next spring, stressing that consumer protection is a top priority.

Alison Karim-McSwiney says mayor’s efforts don’t go far enough. In a letter to the city’s land use planning department this summer, the executive director of International Avenue BRZ said her community was “saturated” with payday lenders.

“Since access to these services is so easy, it means that multiple payday loans can be taken out, resulting in a consumer going into debt into a multitude of debts,” Karim-McSwiney wrote.

“International Avenue BRZ supports the total moratorium on all payday loans and pawn shops in our area.”

[email protected]

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How To Take A High Interest Loan And Avoid The Debt Cycle Smart change: personal finance


But the “simple loan” of the American bank offers a rare example. The loan typically has an APR of around 71%. Borrowers with automatic payments pay a fee of $ 12 for every $ 100 borrowed and repay the loan over three months.

OppLoans, a Chicago-based online lender, provides loans to borrowers with bad credit and has APRs of up to 160% in some states. CEO Jared Kaplan says it’s more expensive for his business to acquire and subscribe to customers, resulting in higher rates.

“Whether [your APR is] at 79, 99 or 160, you’re dealing with a risky customer base and the price should justify that risk, ”he says.

Choose a lender who verifies your financial data

Lenders who do not determine your repayment capacity using information such as your income, existing debts, and credit information tend to offer high interest loans with short repayment periods, which makes them difficult to repay and traps you in a cycle of debt.

Banks and other lenders who can access your bank account information and payment history can determine if you can afford the loan.

Simple loan applicants must have a checking account for six months and have direct deposits sent to the account for three months before they can apply, said Mike Shepard, senior vice president of consumer loans at the US Bank.

Money Saving Expert Martin Lewis Reveals How You Could Recover Thousands Of Mis-Sold Payday Loans


Martin Lewis has revealed how to recover thousands of poorly sold payday loans.

The money saving expert has appeared on This Morning to urge viewers not to wait to check to see if you’ve been mis-sold for a payday loan as it could save you thousands of dollars.

Speaking to Phillip Schofield and Holly Willoughby on ITV’s morning show, the finance guru explained that Wonga clients who had been mis-sold were told last week that they would receive 4.3% of what was owed to them – and that there is nothing they can do about it. he.

“Spit, swear, be angry and get on with your life. That’s it, ”said Martin.

Payday loan company Wonga has been under administration since August 2018, but it’s not all bad news.

Martin then urged people who think they’ve been mis-sold by other companies to act now as it could save you a lot of money.

“Wonga clients who got payments after mis-selling their loans only get 4.3 pence for every £ 100 owed. So someone who owes £ 2,000 will only get £ 86, ”Martin told viewers.

“A lot of these companies go bankrupt because of a combination of regulation reducing profits and paying the price for mis-selling so many loans.

“If you’ve been mis-sold for a payday loan by a company that’s still solvent, you get the full amount back. But if he goes bankrupt, you are only one of the creditors, and you will be lucky enough to get pennies a pound like Wonga’s clients.

“So put on your skates.”

So what counts as a poorly sold payday loan? Martin also explained this to viewers. He said: “First of all they had to check if it was affordable to use. So if they gave you £ 1000 to pay off in a month and you made £ 500 per month, that n is not affordable and it was quite common.

“It was despicable. They were vultures paying for vulnerable people.”

Martin then went into detail about what would be considered a mis-sold payday loan case. For example, if the lender didn’t specify how much it would cost you to repay the loan or if you weren’t told how to complain and how and when to repay the loan, that matters.

“You can claim existing loans and loans that you have already paid off, usually as long as you raise the case within six years of taking out the loan,” Martin said.

If you think you’ve been mis-sold for a payday loan and want to get it back, the process is straightforward.

Martin said, “You can write a formal letter. You don’t get the loan back, but you get the interest back, but on payday loans it’s huge.

“Or there are free online tools that will do it for you. You don’t need to pay anyone to do it.”

For more money saving tips and payday loan advice, visit the Money Saving Expert website.

Swiss start-up targeting payday clients with newly acquired banking license


Yapeal, a digital banking startup, which became Switzerland’s first fintech banking licensee earlier this month, spoke to Finextra Research about the task of innovating in a market dominated by giants such as UBS and Credit Suisse.

Andy Waar, co-founder of Yapeal, believes Yapeal can bring significant innovation to the Swiss retail bank, delivering digital capabilities incumbents don’t brag about.

“The platform is purely cloud native, 100% digital and works in real time, which no other bank in Switzerland does, so it’s an absolute killing,” he says.

Yapeal aims to start a wave of digital disruption that has been seen in many other markets, but has not been as widespread in Switzerland.

However, this could change with the introduction of fintech banking licenses last year by the Financial Market Supervisory Authority (FINMA) to stimulate competition in the sector.

“Switzerland has a very dynamic fintech scene and many startups are building their success stories in international markets, sometimes neglecting their home country due to the limited size of the market and rather risk averse private equity investors” , explains Enrico Bauer, COO of Yapeal.

Yapeal was granted his license by the Swiss regulator earlier this month and is looking to attract payday clients who need help managing their money.

The Swiss tax system is fully self-reporting, so citizens’ salaries are paid according to their gross salary, provided they are saving enough for the time their taxes are due.
“It’s a real problem for a lot of people,” Waar says.

“They get their money back and put an amount aside, but most of the time it’s not enough and they run into problems.

Waar explains that Yapeal’s algorithm allows him to predict how much a customer should report, based on their age, address, marital status, etc.

Therefore, far from specifically targeting a particular demographic, Yapeal believes it can target customers from all walks of life, as those who live hand to mouth spans all segments.

“This financial situation extends to all age groups,” Waar said. “Young people, students, first home, living as a couple, family, children, career, buying a house, retirement, inheritance …”

Inspired by blockchain

Yapeal’s founders describe the platform as blockchain-inspired, but not blockchain-based. This means that the underlying data is stored on an electronic ledger using cryptography and hashing to confirm its veracity.

However, there is no distribution in the ledger, which means that Yapeal’s model cannot be considered a true blockchain. This has the advantage of being able to settle transactions faster, given the time it can take for a blockchain to verify new blocks on a distributed ledger.

“The underlying data schema – the way it’s recorded and the ways to go back and verify it is super blockchain-inspired,” said Yapeal co-founder Andy Waar.

Waar explains that he sees Yapeal’s unique selling point as its real-time operation, which is not compatible with a fully distributed ledger.

“Blockchain and real time are not friends. We have to do things instantly. When we use our debit cards, information crosses the ocean four times in less than a second.

That could change in the future, and Waar leaves the door open for Yapeal’s operations becoming fully blockchain-based, which could extend to cryptocurrency services for transaction and custody.

“Our system is ‘cryptocurrency ready’ so that wouldn’t be a problem as soon as we want to open it up to it, but at the moment we believe the clients we want to attract have higher priorities than that. “

Caps and collaborations

The fintech banking license caps deposits at 100 million francs, but Waar believes Yapeal’s total will be extremely variable, making it sort of a regulatory gray area.

Assuming that most clients use their Yapeal as their salary account, as is the bank’s intention, the funds held on deposit will increase towards the end of the month and then gradually decrease over the following weeks. This will depend on whether the bank’s compliance with the deposit limit is determined by its maximum or average number, which Waar says will be determined before Yapeal launches.

The license also means that deposits cannot be invested elsewhere, so loans are prohibited.

Yapeal intends to charge a monthly fee for using his bank account, which will serve as a source of income.

The bank is currently considering many subscription models, from charging one flat rate for all services to offering many plans with tiered prices.

Waar does not believe, however, that Yapeal will follow the freemium model that Revolut uses for example and Monzo intends to review.

“We think people are willing to pay for a service, if it makes sense and is delivered well,” he says.

Yapeal also sees opportunities in licensing its platforms to Swiss incumbents seeking to leverage its digital capabilities.

The platform was also specifically designed to “be B2B ready,” according to Waar, and conversations have started with traditional banks interested in some of the things it can offer, such as a fully automated onboarding process.

Yapeal is currently offering access to its ALPHA program to potential customers who wish to test the platform before its full launch. The bank is currently not offering any clues as to when this will happen.

Jude Bellingham, Che Adams & Birmingham City’s ‘Glorified Payday Loan’ Explained


Birmingham City have received an advance of £ 18million for the sale of Jude Bellingham and Che Adams.

Details of a deal with Macquarie Bank have been filed with Companies House, showing the Australian company has given Blues the £ 13million due to transfer from Bellingham to Borussia Dortmund and the £ 5million still to be received from Southampton after Adams’ transfer last summer.

It’s unclear what interest or fees the Blues are paying, but the arrangement comes at a time when they have signed nine new players despite huge uncertainty over when they will once again have paying supporters through the turnstiles.

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The move raised a number of questions, according to football finance expert Kieran Maguire clarified the situation.


The Blues have received an advance of money owed to them by Dortmund and the Saints – as follows.

Bellingham: £ 3million payable on January 15, 2021, £ 5million payable on August 31, 2021 and £ 5million payable on August 31, 2022

Adams: £ 5million payable July 1, 2021.

All the details can be found here.

Bellingham. Adams.

Is it a loan?

KM: “It’s a glorified payday loan. This is called invoice factoring, a loan is when you give someone money and they pay you back that money later – this is what happens here .

Are they paying interest or fees?

KM: “If I give you £ 16million and you give me back £ 18million, which we call that an arrangement fee, you can dress it up however you like, but it is indeed an interest and it should be treated like this in the accounts.

“I have a strong suspicion that Birmingham won’t have to pay a physical penny, but what they will do is have Macquarie pay them a discount on that £ 18million.”

Che Adams

Why did they make this gesture?

KM: “It was done for cash flow reasons, it’s quite common, Liverpool did it with the sale of [Philippe] Coutinho in Barcelona for example, so there is nothing wrong.

“It’s also common in other industries. Rather than sitting with an IOU from Southampton or Dortmund in the CFO’s drawer, you cash them in.

“That way you get the cash up front – which can be used to pay for operational costs or used by the manager in terms of the game budget.”

What does that mean ?

KM: “It’s not a huge danger sign because these things are quite common, there are quite a few banks involved in this particular industry and it’s a regular feature of modern football.

“Given the current climate, it’s a pretty useful facility, it might be cheaper than Birmingham to go to any commercial bank and try to arrange a loan or an overdraft.

“There are potentially benefits, if they can get a better effective interest rate from MacQuarie.”

Was there another way?

Potentially – the owners could have done it themselves.

KM: “It seems a little strange that the owners could have actually signed a similar agreement themselves, that way there would be no interest as they could have done it at zero percent.”

Jude bellingham


KM: “The thing to get across is not to panic, this is not unique to Birmingham, it is a common feature of football, in the COVID environment we are seeing more and more clubs operating with similar issues.

“In the Premier League they tend to do the exact same thing with the next TV money installments. It makes sense from a business point of view.

From a footballing point of view, this shows how important Birmingham City’s handling of Jude Bellingham’s transfer has been.

There was a risk the teenager left for a small fee this summer, but the good relationship they have established with his family has allowed Dortmund to pay for a full transfer which has paid huge dividends in the financial climate. current.

CARES Loan Waiver: The What and the How | SmithAmundsen LLC


The CARES Act promulgates a new loan program through the Small Business Act, the Paycheck Protection Program (the “”Program“), to provide eligible borrowers with loans to help cover costs related to the COVID-19 emergency. Under the program, borrowers are eligible for loan forgiveness up to the principal amount of the loan.

How do I get a discount on my loan?

Borrowers are entitled to a loan forgiveness equal to the amount of fees incurred and paid during the 8 week period beginning on the date the loan was granted for:

  • Salary costs;
  • Interest payments on mortgage bonds contracted before February 15, 2020;
  • Payment of rental obligations under a lease in force before February 15, 2020; and
  • Utility payments for electricity, gas, water, transportation, telephone or internet if the service started before February 15, 2020.

To qualify for loan forgiveness, the borrower must submit an application to the lender who manages the loan with the appropriate verification documents, certification by an authorized representative, and other documents required by the SBA. Loan cancellation will not be granted in the absence of such documentation. Lenders must make a decision on loan cancellation within 60 days of receiving the borrower’s request.

Borrowers with tipped employees may receive a rebate for additional wages paid to those employees.

What are the salary costs?

Personnel costs include:

  • the sum of the payments of any remuneration relating to employees which is:
    • salary, wages, commission or similar remuneration;
    • payment of a tip in cash or equivalent;
    • payment of vacation, parental, family, medical or sick leave;
    • severance or severance pay;
    • payment required for group health care benefits, including insurance premiums;
    • the payment of any retirement benefit; or
    • payment of state or local tax assessed on employee compensation; and
  • the sum of the payments of any remuneration or income of a sole proprietor or independent contractor which is salary, commission, income, net income from self-employment or similar remuneration and which is of a amount not exceeding $ 100,000 in 1 year, prorated over the period covered.

Personnel costs Do not include:

  • compensation of an individual employee in excess of an annual salary of $ 100,000, prorated over the period covered;
  • taxes imposed or withheld under Chapter 21, 22 or 24 of the Internal Revenue Code of 1986 during the period covered;
  • any compensation for an employee whose primary place of residence is outside the United States;
  • qualified sick leave wages for which credit is granted under Section 7001 of the Families First Coronavirus Response Act; or
  • eligible family leave wages for which credit is granted under Section 7003 of the Families First Coronavirus Response Act.

Are there any special considerations or limitations I should be aware of?

To maximize loan cancellation, you need to consider the following:

  • The loan cancellation will be proportionately reduced by any reduction in the average number of full-time equivalent employees per month employed during the period covered compared to a prior period.
  • The loan cancellation will be reduced by the amount of any reduction in the wages or total wages of certain employees that exceeds 25% of the employee’s wages or total wages in the most recent full quarter.
  • Loan cancellation reductions resulting from certain employment and / or salary reductions may be avoided if the borrower has eliminated the reduction by June 30, 2020.
  • Maintain documentation verifying the number of full-time equivalent employees on payroll and rate of pay, including federal and state returns, and verifying payments on covered costs.
  • Submit the documentation to the lender in a timely manner.

What happens to loan amounts that are not canceled?

Any remaining balance will be carried over as a loan under the program with a maximum maturity of 10 years from the date the borrower requests a loan forgiveness. Interest rates on loans granted under the Program cannot exceed 4%.

Are there any federal tax consequences?

Amounts remitted are excluded from gross income for federal income tax purposes.

UK payday lenders will live to lend another day despite credit cap


The announcement that the payday loan industry will – finally – see a cap on the cost of credit is good news. But any belief that this simple step will wipe out the industry would be wrong.

For starters, the cost cap on a payday loan introduced by the Financial Conduct Authority (FCA) is well below industry trends. Take the problem with what has been called the “far west” of the payroll industry. While companies such as Wonga.com or Kreditech are well-known companies operating only on the Internet, the “wild west” refers to companies that go under the radar. They may be operating from overseas and trading in the UK market, or are set up to appear as a payday loan website when in fact it is a brokerage firm taking an application in line and sells it to a lender. This particular trick means that a borrower bears the cost of the loan and any associated additional fees, but also the brokerage firm’s fees.

Green Day Practices

What is starting to happen more and more, somewhat stimulated by the larger presence of online businesses, is that the payday loan trade associations are suggesting that there is a “them and us” situation on the market. market. Some associations are trying to convince the FCA that they should focus less on regulating the “nicer” part of the payday market, and more on these “Wild West businesses” online and even offline.

The artificial distinction between the online and offline worlds of payday loans is really about the inability of regulators to monitor compliance in the retail credit industry. For every settlement, there is a workaround: for example, payday lenders can change the length of the credit agreement to avoid falling below the cap. There are no friendly policemen on the main street or knocking on doors on websites to make sure the rules are followed.

Back to the streets

Carl Packman’s work on the sector revealed evidence of this schism attempt as well as the absence of any united front among lenders in the UK or any other country:

Interestingly, more and more payday companies are ditching the Internet, despite the fact that many consumers are migrating to online loans. Some lenders fight to appear nicer, better and more responsible and effectively say to the regulator “go regulate someone else, leave us alone; we are doing everything right ‘.

In some ways, this is a simple response to stricter regulation; an attempt to focus attention elsewhere. A hijack attempt, you could call it. Packman notes that this trend has already started to appear in the United States:

What I’m guessing is that as the regulations in this country get a lot stricter, especially with the payday lenders themselves and the move towards more consumer-friendly regulation, then I think we’re going to assist. to a back-migration from the Internet to offline… especially since some of the largest companies in the United States are doing it right now.

From bottom to top

Lenders have not only been subject to regulations imposed from above. There have been localized initiatives to shake their influence – as well as the bizarre heavily focused satire. However, looking at grassroots efforts, we actually see more evidence of a viable future for the troubleshooting industry.

Calm. This is a joke.
Darren cullen, CC BY

In addition to efforts by politicians and national activists to make sense of a previously poorly regulated industry, some UK local authorities have been keen to take a strong stand against the industry. In 2012, Lewisham council passed a vote that pledged to promote credit unions in the borough, while deter people to take out loans from payday lenders.

In 2013 Medway Council decided to block payday loan company websites from all board computers, including public libraries. Other measures taken by Medway included banning loan advertisements on board-owned billboards and free advertising for Medway Credit Union. Newham’s council, meanwhile, agreed to ban payday lender advertising on its property.

Credit unions as alternatives

Oddly enough, until the cost cap on payday loans goes into effect, slated for January 2015, their benevolent cousin, the Credit Unions, remains the only financial institution in the UK where a price cap is mandatory. Credit unions were constrained by law to an interest rate cap of 26.8% (or 2% per month) which rose to 42.6% (or 3% per month) from April 2014 to give them more leeway to compete with the short term at high cost. retail credit providers, such as the payday and home loan industry.

In fact, credit unions are the most regulated retail credit providers and provide proof that a cap does not kill an entire industry. As part of the Credit Union expansion project initiated when the Archbishop of Canterbury Justin Welby vowed to “surpass Wonga” there are still many more restrictions on how credit unions operate.

Efforts to give credit unions more freedoms as community development finance institutions seek to better serve those who otherwise depend on payday lenders and other forms of high-cost credit. But we are still a long way from realizing Welby’s ambition. UK CDFIs – which include all credit unions and other forms of CDFIs – still only serve around 4% of the retail banking market.

The big challenge is to create a level playing field between the different segments of the retail banking industry. Those who want to use finance to improve the lives of communities and individuals and are content to make a reasonable profit, such as community development funding and social enterprise, should not be at a regulatory disadvantage compared to companies that believe in maximum profits, whatever the costs. .

The crackdown on payday loan scams is welcome


The thirst for quick money at the expense of others has caused trouble for some businessmen in the region.

The thirst for quick money at the expense of others has caused trouble for some businessmen in the region.

Jon Elswick

The Associated Press

A settlement with the Federal Trade Commission will put an end to the dishonest online payday loan transactions by two Kansas City-area businessmen.

The action, which must be approved by a federal judge, shines an ignominious spotlight on a group of local entrepreneurs who made quick fortunes by looting the bank accounts of most low-income consumers.

Timothy A. Coppinger, Frampton T. Rowland III and a host of their companies agreed to pay settlements totaling $ 54 million. The money will be used to compensate their victims.

The charges against the two businessmen are truly shocking. The FTC alleged that Coppinger, Rowland and their companies obtained financial information from unsuspecting victims, deposited money into their bank accounts without authorization, then withdrew payments and claimed they were collecting loans.

But in many cases, consumers had not even authorized a loan. And those who had been tied up for finance charges and fraudulent interest rates.

It’s good that federal enforcement has stopped operations and the victims will get compensation. But the allegations appear glaring enough to raise questions about whether criminal charges are warranted.

Last week’s settlement follows a similar action in January, in which the FTC ordered Overland Park businessman Scott Tucker to pay $ 21 million in refunds to defrauded customers. Tucker remains a defendant in other FTC litigation. The Federal Bureau of Consumer Financial Protection has lawsuits pending against several other Kansas City area payday lenders.

Fortunately, the app seems to have curbed this region’s appetite for online loans. Banks refuse to cooperate and entrepreneurs are no longer envied for their ill-gotten fortunes.

Some local schools, churches and charities have been too quick to accept generous donations without questioning how their newly wealthy benefactors had acquired their wealth. These institutions should now examine their own conscience.

Ongoing legal actions against online lenders should also be noted in Topeka, Jefferson City and Washington. Too many politicians in Missouri and Kansas are beholden to the traditional and online payday lenders who have contributed to their campaigns.

They too hesitate to question their benefactors, much less to regulate them. But regulate they must. We need controls on the frantic sale of financial information to consumers and strict caps on the interest rates charged by short-term lenders.

It’s too easy for unscrupulous businesses to take advantage of people in times of need.

The Florida real estate market is booming. Is a crash coming?


Carol Hasbrouck knows more than a little about why the housing market failed during the Great Recession – at the time, she was a loan officer who was at the forefront of irresponsible lending tactics that would later have dire consequences.

During the frantic years of home buying before the crash, she remembers hearing about loans given to people a day after they finalized bankruptcy, or negative amortization loans where borrowers would pay less than the amount owed on them. their interests and would go into more debt. each month.

“There was just a lot of nonsense,” said Hasbrouck, who is now a St. Petersburg-based real estate agent with Charles Rutenberg Realty.

When the coronavirus pandemic brought mourning to the United States last spring, home sales slowed in Tampa Bay and beyond. But since the summer, the market has roared white, and some local realtors say they get multiple offers for every new listing, resulting in many above-asking sales. And the prices continued to climb rapidly.

The sustained, gravity-defying rebound in the market – as much of the rest of the economy remains in a pandemic recession – has some wondering if it is headed for another collapse.

Despite the rapid sales, Hasbrouck said the current boom still doesn’t have many similarities to the run-up to the crisis in 2007, as there isn’t the same proliferation of subprime mortgages.

“I don’t think it’s anything like that,” she said. “I believe it’s a matter of pure economics – demand and supply.”

From a statistical perspective, it is not difficult to find comparisons between the current market and the bubble before the Great Recession.

Len Kiefer, deputy chief economist at credit giant Freddie Mac, noted how, by some metrics, national house price growth in 2020 was higher than in the mid-2000s. The S&P CoreLogic Case Indices- Shiller, a national home price measurement tool, revealed that prices in the Tampa metro area rose 10.7% last year.

Earlier this month, Florida Realtors released figures for January that showed the median selling price of a single-family home in Pinellas to be $ 309,450, up from $ 265,000 in January 2020. Hillsborough’s median selling price was $ 297,500 last month; Pasco was $ 265,000; and Hernando was $ 210,500.

Kiefer said it was only natural, with numbers like this, for people to wonder if the housing market is about to fall again. But he said he didn’t think so.

“We don’t know, but the research we’ve done makes us think it’s probably not going to be a repeat,” he said. “There are a lot of ways it’s different, despite similar statistics. “

This time around, booming demand is fueled by millennials coming of age to buy a home – driven by record interest rates – combined with baby boomers living longer, Kiefer said. Compare that to the period before the Great Recession, when a large number of investors were trying to make a quick buck through rapid appreciation, he added.

“The hallmark of the bubble is speculative behavior, where the expectation of future price growth drives current price growth,” Kiefer said. “It’s certainly not what’s happening now … it’s that people need housing.”

Yet one of the biggest remaining questions is whether, at some point, there will be a rush of foreclosures.

According to a new analysis from real estate data firm Black Knight, the national mortgage default rate has seen steady improvements since the start of the pandemic. But About 2.1 million homeowners were 90 days or more past due on their mortgages at the end of January, five times the levels before the pandemic.

At the current rate of improvement, 1.8 million mortgages would still be considered seriously past due at the end of June, Black Knight said. This this is when the foreclosure moratoriums on government guaranteed loans are set to expire, although the Biden administration also announced up to six months mortgage forbearance after that.

Economists said they were optimistic that the housing market, deprived of inventory, could absorb some distressed properties, but that doesn’t lessen the impact for homeowners going through tough times.

“How does it end for the people at the bottom of the ladder, who haven’t had a job,… (their) payments have been delayed? It’s really not clear, ”said Scott Brown, chief economist at Raymond James. “I think it’s going to be bumpy for a lot of households, but overall positive overall.”

Rachel Sartain Tenpenny, CEO and managing broker of Keller Williams Realty St. Petersburg, Gulf Beaches and Seminole, said that with prices rising, homeowners who can no longer afford their payments likely have plenty of equity to avoid the foreclosure.

“All they would have to do is let go of their egos and sell their house,” she said.

The lack of supply, combined with stricter loan requirements than in the days before the Great Recession, strengthened the market, Sartain added.

“There are still a lot of protections that are going to prevent us in the short term from seeing something like we saw 12 years ago,” she said.

So when will skyrocketing price increases slow down? And could the prices go down?

It could depend on external factors, such as how the economy rebounds drastically from the widespread distribution of coronavirus vaccines. Moreover, if the vaccine distribution causes a significant rebound in consumer spending, it could lead to a rapid rise in interest rates, which would significantly affect the housing market, Kiefer said.

For now, however, inventory shortages remain a major concern, especially for Florida, where many out-of-state residents have relocated during the pandemic.

“Sadly, looking at the math… even with the increase in construction, we are still falling short of what we need to stay in place,” Kiefer said, noting that the slowdown in construction after the Great Recession is one of the main culprits of the current crisis. shortages. “I expect the pressure to be even higher in 2021 than in 2020.”

Ann Rogers, a St. Petersburg associate broker at Foresite Residential Real Estate, is a real estate agent who has remained skeptical of the market boom in the past six months. Until recently, she sensed difficult similarities between the current real estate environment and 2006, when she watched people line up to buy condos that hadn’t even been built yet.

But in recent weeks, with so little inventory to sell, she said calls from buyers have slowed down because there was so little to show them.

“I have a buyer willing to buy up to $ 1.2 million, but we can’t find anything,” she said. “There just aren’t any new properties $ 500,000 to $ 1.2 million.”

She advises some of her buyers – especially those looking for homes under $ 400,000 – to wait, in case distressed properties emerge later in the year.

“I think there will be a noticeable change… but there are also a lot of investors ready to scratch them,” she said. “So that’s the question: how long will they be on the market? “

Now China grants loan to Bangladesh for Teesta River project, India News News


China grants Dhaka a $ 1 billion loan for the Teesta River management project.

Teesta is the fourth largest cross-border river in Bangladesh and flows through five northern districts – Gaibandha, Kurigram,
Lalmonirhat, Nilphamari and Rangpur.

At least 21 million people in Bangladesh depend on the Teesta River. Today, China is helping Bangladesh with the river management project, which should start in December. Reports say it was Bangladesh that asked China for a loan of $ 983 million.

The river, however, has nothing to do with China. Beijing only cares about two things: it’s about trapping Bangladesh’s debt and it’s an opportunity for China to control one of India’s allies.

Teesta is originally from India in Tsolamo. The river flows through Sikkim and West Bengal before entering Bangladesh. It is one of the 54 rivers that enter Bangladesh from India.

The Teesta has been a source of contention between the two countries with negotiations over water sharing dating back to 1951 when Bangladesh was East Pakistan.

Seven decades and a new country later, the negotiations have not quite come to fruition. Negotiations were speeded up in 2009, but the water-sharing agreement is still pending. Today, Bangladesh claims that due to a peculiar dam on the Indian side, the flow of the river is reduced during winters resulting in a two-month water crisis every year.

Bangladesh has portrayed India in a bad light and for China this represents an opportunity. This is the first time that China has been involved in a river management project in Bangladesh.

The Teesta River crisis is an opportunity for China to test the waters and an opportunity to stir up anti-Indian sentiment, it’s almost Nepalese déjà vu and the bad news is that so far, it seems to be working.

New Delhi sent its Foreign Minister to Bangladesh, Harsh Vardhan Shringla, on a one-day visit to Dhaka. Indian Foreign Minister is expected to appeal to Prime Minister Sheikh Hasina and Foreign Minister Abdul Momen.

India will also deliver a dozen wide-gauge diesel locomotives to Dhaka.

Meanwhile, sources claim that the Teesta project is just one of many projects China is funding in Bangladesh. There are at least nine more with the total loan amount said to be $ 6 billion. This is in addition to the $ 22 billion in Chinese loans that Bangladesh has already received, according to Bangladeshi media.

Mavropanos, Saliba, Ballard – Arsenal center-back Mikel Arteta to keep, sell or loan this summer


Arsenal will have several players returning from loan spells this summer and many of them are center-backs.

Gunners boss Mikel Arteta has to decide which player he will keep, sell or loan again.

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football.london looked at the dilemma Arteta faces regarding his center-back options and which player might

Mavropanos Dinos (23)

The 23-year-old Greek center-back has been successfully loaned to Bundesliga club Stuttgart this season.

He has been deployed to the right-back in some games and Stuttgart boss Pellegrino Matarazzo recently praised the defender for his strong physical presence at the back.

Konstantinos Mavropanos controls the ball during the Bundesliga match between VfB Stuttgart and Bayer Leverkusen

“He’s our gladiator! He’s a monster in terms of physique,” said Matarazzo.

“And when he makes a mistake he hums a few bad Greek words. I like that. He’s just a tough dog.”

football.london Understand that Arsenal are closely monitoring the progress of the center-back who hopes to have the opportunity to impress Arteta when he returns for the preseason this summer.

Likely outcome: keep

Guillaume Saliba (19)

Saliba, 19, is currently on loan at French squad Nice, where he won the Player of the Month award for January during his first few weeks at the club.

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The French defender is highly rated and has expressed in several interviews his frustration at not being offered first-team opportunities under Arteta.

Both technical director Edu and Arteta himself have suggested that Saliba’s long-term future lies at Arsenal and that he will return for the preseason where he has the opportunity to show his talents again.

Likely outcome: keep

Zech Medley

Medley joined the Scottish team from Kilmarnock on the deadline day to increase his experience.

He was recently on loan from Gillingham and has revealed his hopes of making his first-team debut in the near future.

Zech Medley is excelling in the early stages of his loan to Gillingham from Arsenal.

“The first game I was in was the loss to Celtic in the middle of the week, when I was an unused substitute, but I still tried to absorb it all because they’re such a big club.

“Besides having the opportunity to play first-team football, it was the biggest attraction for me. It will be a great career experience. The gaffer and Kieran [Tierney] both have done brilliantly here and are doing well now in the Premier League, so it shows that if you can do well here you can keep going. “

Medley’s contract at Arsenal expires this summer but football.london was told the club were “likely” to take an option to extend it.

Likely outcome: loan / release

Mark McGuinness

McGuinness has made 17 consecutive appearances for Ipswich this season and has become a mainstay of their defense.

Mark McGuinness of Arsenal

“My goal is to play at the highest level possible, whether at Arsenal or elsewhere, just at the highest level,” McGuinness said in October 2020.

“My dad has always been an Arsenal fan and he was thrilled when I joined them at a young age. I absolutely want to play for the first team – that’s my goal – and this movement is a good springboard to reach the highest level.

“But for now, I’m just focusing on Ipswich and helping them win a promotion this season.”

The 20-year-old will most likely be on loan again next summer as he fights for an opportunity in the first team.

Likely outcome: loan

Daniel Ballard

Ballard impressed during his time at Blackpool, winning the Man of the Match award in his first two appearances for The Seasiders.

The Ireland international has also won five caps for his country and is considered one of Arsenal’s top defensive prospects.

Daniel Ballard of Northern Ireland in action against George Puscas of Romania during the 2021 UEFA Nations League match between Romania and Northern Ireland at the Arena Nationala, in Bucharest, Romania on September 4, 2020. ( Photo by Alex Nicodim / NurPhoto via Getty Images)

Blackpool boss Neil Critchley said: “Daniel is playing like a leader, with real character and personality on the pitch. He has been great working with him and will continue to improve and improve.

“We thank Arsenal for entrusting us with the development of Daniel and now look forward to having him for the second half of the season.”

Ballard will be hoping for a chance to impress Arteta in the preseason, but a loan appears to be the most likely outcome for the 21-year-old.

Likely outcome: loan

Harry clarke

Clarke received praise from Oldham bosses Harry Kewell for helping fix their leaky defense.

He scored a late game-winner against Cheltenham in November and has continued to establish himself as a reliable defender to call on.

Harry Clarke and Nicolas Pépé

“He’s been a revelation and he loves it,” Kewell told Optus Sport in November 2020. “I’ve talked to him and told him as much as you can be the next big thing, if you’ve got 100 games behind you, that will only help.

“Harry Kane is a great example – he’s amazing, recently scored his 200th goal at Tottenham. He came out on loan.

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“It was only at 22 or 23 that he exploded at Spurs. He has men’s football (under his belt) and it gave him the opportunity to go back and be ready for his chance.

“It’s not always about going or staying at big clubs. To break through, you sometimes have to go to smaller clubs. “

Likely outcome: loan

Blackpool goalscorer Ellis Simms learns tough lessons, boss Neil Critchley says


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Love at first sight twice, regrets, management of the game and inviting pressure: Matt Sc …

It comes after the Everton lender scored his first goal at Bloomfield Road in Saturday’s 1-1 draw with AFC Wimbledon.

Despite putting his team in front, the 20-year-old was retired with 20 minutes left.

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Ellis Simms fights for the ball with Wimbledon’s Darnell Johnson in Saturday’s draw at Bloomfield Road

But Simms, whose Fylde Coast loan is his first experience in senior football, continues to familiarize himself with the demands of playing Saturday-Tuesday-Saturday.

Head coach Critchley said: “He’s a young player, he leads the line and he and Jerry (Yates) put in with a physical presence.

“I think it was his fifth start and physically it took a lot of his time playing so many games in such a short time. But he has to get used to it.

“Nonetheless, it was a great moment for him and I’m delighted he scored this goal at Bloomfield Road. That’s the kind of typical goal he scores. He’s a poacher, he’s a penalty player. “

In Gary Madine’s absence, Simms may have had to play more football than originally planned.

Madine was out of the Blackpool squad for the seventh game in a row as he battled an insidious groin complaint.

The forward was notable for his absence in Saturday’s post-match warm-up, which involved all the senior players in the pool who weren’t in the starting XI. He suggested the forward could be further from a comeback than expected.

Critchley said of Madine: “He ran back to the grass and did more work with the ball. We hope he can join training next week.

“He was training and doing a little more physical work on Saturday. I haven’t spoken to the staff yet (to see how they’re doing) but it’s something I’ll do.

Elsewhere, there was more encouraging news regarding CJ Hamilton, who started the game and lasted over an hour as he stepped up his comeback from a serious hamstring injury.

The winger, who had been out since December 19, returned to the bench in Tuesday’s draw against Crewe Alexandra.

Critchley added: “We want him to come back and we have decided to launch him on Saturday.

“The longer the game lasts and the longer you stay, this is where you run the most risk of CJ getting another injury.

“We want him to be as fit as possible so that he can play 90 minutes consistently.

“But maybe we just have to help him get back in there so he gets to the stage where he can play in every game.”

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Norwich City boss Daniel Farke sends message about the potential of Oliver Skipp on loan at Tottenham


Norwich City manager Daniel Farke refuses to give too much praise on the young shoulders of Tottenham Hotspur lender Oliver Skipp in public.

Jump joined the Canaries on loan from Spurs last summer in an effort to bolster his chances of claiming a first-team spot in north London and was nothing short of outstanding, playing a key role in the Norfolk-based club’s promotional load.

To date, the England Under-21 international, who is under contract with Spurs until the summer of 2024, has started all 30 games of the Norwich Championship.

Skipp has been a prominent presence in the Norwich midfielder throughout his time at Carrow Road, leading the assists table and winning countless man of the match accolades.

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Despite the formidable form he has been in, Farke, who currently have his team four points clear atop the league standings, refuses to give too much praise on the youngster’s shoulders.

Farke said The Eastern Daily Press: “I am always careful to praise young people too much.

“I like to keep the pressure on them because in these times they’re so celebrated by social media, agents and things like that.

“It’s also hard for young players to deal with that praise so I’m very careful to praise it too much, but actions are more important than words and when you look at Oliver’s season you can realize that he played more or less every second in the league for us, for a team that has a lot of competition in the team.

“It says a lot about how much I rate him and how much I appreciate him, I don’t want to praise him too much in public, it’s more like every day I keep criticizing him.

“I’m asking for more goals, more assists, better passing choices, lots of things to improve – but my actions speak louder than my words.

“He plays every second for more or less every game for such a good team. He’s a high level player and also a high level character.”

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Throughout his time at Carrow Road this quarter, Norwich fans have been delighted with Skipp’s performance, with many naming him the Championship’s best player this season and others insisting he should play in midfield of the Spurs next season.

In total, the 20-year-old has racked up 32 appearances in all competitions this season but failed to score.

Prospa ends loan deferrals amid rising confidence


It came amid a collapse in loan sales, the mounting plunging 41% to $ 181 million as small business loan demand remained below levels seen before the COVID-19 crisis. .

The company offers small business loans valued at between $ 5,000 and $ 300,000, with loan applications in under 10 minutes and financing distributed within 24 hours.

“We saw a significantly lower contribution from Victoria due to the region’s extended lockdown,” Prospa said. However, he said demand for capital increased towards the end of the year compared to early 2020.

The company’s performance in New Zealand also hit a record in terms of monthly settlements in December, although total fixtures fell 11% in the half-year.

Prospa chief executive Greg Moshal said he saw a “Renewed confidence” with SME customers during the first half of the year.

“While demand in Australia remains slightly below pre-COVID levels, we are seeing an accelerated recovery in creations that continued into 2021,” Moshal said.

In January, the company saw creations bounce back to 75% of pre-COVID-19 volumes.

Prospa said it would not pay a dividend and received JobKeeper payments of $ 2.7 million during the period.

“The first half of 2021 has shown the resilience of small businesses in the face of some of the most difficult business conditions of their lives,” said Prospa, “with many quick adjustments to the new environment and reopening as various localized restrictions have taken hold. been lifted “.

“In particular, the business and commerce sector has shown good demand for financing throughout the pandemic, and geographically, the reduced corporate risk appetite in Victoria has been offset by a focused focus on growth in New Zealand. “

At the height of the foreclosure, sales of Prospa loans slumped from $ 43 million in February to just $ 2.7 million in April. By December, it had reached $ 39.4 million in Australia.

In February, New Zealand creations were worth $ 7.2 million, falling to just $ 100,000 in April. In December, the figure reached $ 7.3 million.

3 limits successful people set for themselves at work


Your job can be stressful. There may be a lot of demands on you. To be successful, set boundaries with yourself and others. Identify the limits of what you are going to do or are willing to allow others to do. To help you identify your limits, here are three types of limits set by successful people at work:

1. Save your time.

Check E-mail two or three times a day, not several times an hour. Say “no” to requests that do not advance the purpose of your job. Conclude meetings at their scheduled end time. Stop sending follow-up emails after trying several times and pick up the phone.

Identify the habits and behaviors that waste your time. Is there another way to accomplish a task that would be more efficient or effective? Focus your efforts on work that will help you and your team move forward. Successful people respect their time and that of others.

Being aware of your time is especially critical if you are working virtually. Many professionals find that they are work longer hours during the coronavirus pandemic. Work hard, but don’t burn yourself out.

While successful people value their time, they don’t just focus on what they want to work on and say “no” to everything else. Successful people recognize that they are part of a team and need to support their colleagues. They compromise and recognize that everyone’s time is precious. When your teammates see that you respect their time, they are more likely to respect yours.

2. Conserve your energy.

Get away from your computer and take a break when you need to. Stop worrying about what you can’t control.

You may find yourself grinding your wheels without making any progress. Successful people recognize times when their actions are unproductive. Tell yourself to stop so that you can reserve your energy for the matters that need your brain.

3. Make your ideas your own.

Don’t let anyone else take credit for your idea. If you had an idea or if it was your accomplishment, make it clear to your colleagues. Your career advancement depends on the recognition of your achievements by people. If your accomplishments are not known, you will have a hard time reaching your goals.

Be a team player, but don’t be a doormat. While you don’t have to claim every little thing as your own, make sure your manager and coworkers are clear about the important things you’ve done.

Set boundaries around your time, energy, and property. It takes discipline to have limits. Investing in yourself is just as important as investing in your work.

What limits do you set for yourself? Share with me your stories and thoughts via Twitter or LinkedIn.

Stoke City boss asked about Sheffield United defender’s future after opening goal


Michael O’Neill says his priority is for Rhys Norrington-Davies to have a good experience at Town of Stoke over the next couple of months before the big question about what will happen next.

Norrington-Davies, who is on loan from Sheffield United, scored the deciding goal as Stoke beat Wycombe today.

It was a nice move, grabbing the ball from John Obi Mikel and playing a one-two with Steven Fletcher before moving under David Stockdale.

O’Neill was asked if the 21-year-old Welsh international could be back next season and said: “There is a lot of water to pass under bridge before you even think about it.

“The loan agreements we made in January were based on the market situation at that time. It’s a totally different market in the summer.

“We’ll also have to see what we do with our returning loan players.

“The most important thing is that these guys come here and have a good experience, if they want to revisit this option they see it as a positive option to come back to.

“But at the end of the day, that decision is also up to their parent club.”

It was Norrington-Davies’ first goal for Stoke and only second in senior football, having scored on his debut for Rochdale on loan last season.

O’Neill said: “It was a good play. We knew if we could pass the ball after we worked it down one side of the field, he could step in. It was a nice little one-two with Steven Fletcher and it’s a really good finish.

“Rhys is a player who needs to play on the front foot. He comes into the game and he is decisive.

“I think he’s probably suffered a bit since he got the red card. He didn’t play with the same focus or vigor as he did in the opener here, which I thought he looked great.

“Today I thought in the second half we saw the player we brought to the club.”

Mortgage Boom Fuels Launch of UW Credit Union Racial Equity Fund | Journal of Credit Unions


The University of Wisconsin Credit Union at Madison, which operates as UW Credit Union, has committed $ 1.5 million to a race equity fund to help communities of color in the state.

The project, which was announced on Wednesday, makes UW the latest in the credit union industry to pledge a significant amount of money to causes related to social justice and diversity, to equity and inclusion. In January, Visions Federal Credit Union of New Jersey awarded a $ 1 million grant to the state education association, the first installment of which will help launch a racial justice institute.

Through this fund, UW CU will donate $ 1.5 million to two separate sections of United Way, with two-thirds of these funds going to the Dane County nonprofit division, which serves consumers in and around the headquarters of the credit union. A United Way section serving greater Milwaukee will distribute the remaining $ 500,000 in that region.

“The pandemic has really brought increased attention to the racial disparities that exist in our communities, especially among our communities of color,” said Sheila Milton, vice president of diversity, equity and inclusion at the credit union. “Last year, with all the injustice and violence taken to critical heights, tensions were high and emotions aroused among our employees and members, and we felt it was necessary that we do something thing as quickly as possible. “

Sheila Milton, Vice President of Diversity, Equity and Inclusion at UW Credit Union

While the pandemic and social justice protests may have spurred the initiative, it was funded in large part by a substantial increase in mortgage volumes, Milton said. Data from the National Credit Union Administration’s appeal report shows that the institution’s mortgages with assets of $ 4.2 billion rose 17% in 2020 to exceed $ 1.5 billion, or more than 55% of its total loan portfolio. Overall loan balances there grew nearly 9.7% last year, while total revenues rose 37% to over $ 61 million.

United Way locals will distribute credit union funding where it is needed most, with grant applications accepted through an online portal. The application period opens on March 17, and decisions will be made by an advisory board made up of community members and credit union employees.

Part of the reason United Way was chosen as a partner, Milton said, is that the two organizations have a history of working together, including initiatives over the past year related to affordable housing and COVID assistance.

The program is expected to be an ongoing effort, Milton said, with the $ 1.5 million distributed over a period of up to four years. It is also hoped that additional funds can be allocated in the future.

“We know it’s not something that is done all at once,” she said. “We plan to partner with these organizations… and our commitment to this organization and this cause does not last just for a year. Now, we haven’t said anything publicly about the funding part going forward, but we know that this work takes a long time.

UW Credit Union is also not directly looking for this project to increase its results. While any growth in membership and lending from the fund will be a nice bonus, Milton said, “it’s probably not our driving force. When I think about economic mobility and financial stability, we want to do more with education and make sure that people who are not banked are banked, and make them understand the difference between a credit union and a bank. . We want to help provide them with that financial inclusion. “

Where can I get my real estate inquiry?


The amount of work required after bidding on a house and moving in may be more than you might think. For example, some homebuyers may need a real estate investigation before they close their home.

Land surveys are carried out to determine or confirm the boundaries of land, such as the parcel of land on which a house sits, and to identify other types of restrictions and conditions that apply to the legal description of a property. .

Whether you are buying a house or building an annex on your property, you will need a real estate survey. Let’s explore what it is and how to get one in more detail.

What is a real estate survey?

A real estate survey consists of defining what is yours and what is not. Curtis Sumner, executive director of the National Society of Professional Surveyors (NSPS), says they’re done for many different reasons.

“Real estate surveys are done for a number of reasons,” says Sumner.

He adds that surveys are used to establish boundaries when new parcels of land are developed, as well as to identify and confirm land boundaries already established.

For example, if you plan to put up a fence on your property, you will need to know where your property line ends and your neighbor’s line begins. This is what a real estate survey helps you determine.

If you are looking to buy a home, you may need to take a survey, depending on where you live. Many lenders and title companies require a copy of a survey to close a home, but they are not required everywhere.

Where can I find the survey of my property?

If you are buying a home, have the seller check with their lender and / or the property company to see if there is a real estate investigation on file. The local assessor’s office may also have one.

If you already own a home and a survey was never provided to you, your local real estate records or engineering department may have one on their records, but it is likely older and could be out of date. While such dated surveys are generally accurate on standard urban land, they can be wrong if you live on an old country plot that has been altered for suburban development. You can also check with the neighbors to see where they got theirs.

[READ: Real estate is back as Americans’ favorite long-term investment]

What are the different types of real estate surveys?

Since there are many reasons to conduct a survey, there are different types of surveys.

For example, surveys are done to show the boundaries of a parcel of land. There are also topographic surveys, which show the plan as well as the elevation of the land. If road improvements are requested, for example, a topographic survey would be required.

Other types of surveys include:

  • Monuments surveys: These are done if you want to add a fence to your property.
  • As-built investigations: Determine the property lines but also the places where improvements can be made, such as driveways and sidewalks.
  • Mortgage inquiries: Like the As-Built Statements, these show the ownership lines for an entire property that will be mortgaged.
  • Floodplain surveys: Display the flood zones.

If you are requesting a real estate survey, state why you need it. That way, when you get a quote for the job, it’s specific on what you need to do.

Why are real estate surveys important?

Although land surveys are not mandatory everywhere, they are in many jurisdictions across the country. This is because they detail how your property is officially defined. Rather than guessing where your property lines are, you have a document that specifies it.

Emory Wooll, managing director of Title Partners of South Florida, says property studies are required for title insurance policies from lenders.

“For (for a title insurance policy to be issued) we need to know if there are any encroachments on the property before closing,” Wooll explains. “They’re usually done before buying a home or, say, someone putting up a pool or a fence.”

Wooll says cities or contractors will need an investigation before they can withdraw permits. So if you are hoping to build a swimming pool in your backyard, you will need a recent survey. While you may be able to use an old survey to obtain permits, this is not always guaranteed. In this case, you may want to complete a new survey.

[READ: Best home improvement loans in 2020]

How much does a real estate survey cost

The cost of a real estate survey depends on the type of survey you need and the size, location and history of the property. A simple property boundary survey costs between $ 100 and $ 600, while a mortgage survey costs an average of $ 500, according to data from HomeAdvisor, which lists average costs for various types of real estate inquiries. The more complex a property’s features and record history, the more likely you will pay for a land surveyor’s time.

If you are buying a home and need an investigation to establish property lines, determine if a property is in a flood plain, or because your lender needs it, you will pay for the investigation.

How to hire a real estate expert?

Finding real estate experts in your area is one of the best ways to find companies to do the job.

“There is a surveying company in each of the 50 states, all of which are affiliated with NSPS“Says Sumner.” Each of these companies has a website, which will usually include a ‘Find a Surveyor’ section. “

Don’t be afraid to ask your title company or lender for recommendations. It can help you find a trustworthy and reliable land surveyor near you.

You should also take the time to interview your potential surveyor. Talk about your needs beforehand to make sure they can meet the requirements. Verify that the surveyor is licensed to practice in the state where the property is located, Sumner advises.

Be aware of the time it takes to complete a survey. Wooll says real estate investigations can usually be completed in a week, but it can take up to three, depending on the company.

Sumner says there’s no way to determine exactly how long it will take to complete a survey because there are so many variables to consider, including the quality and availability of property records, such as deeds.

At the end of the line

You may not need a real estate survey before buying a home. In some cases, your lender or title company may need it, so make sure you’re prepared for the extra legwork and costs. Whether you are closing a home or planning a major addition, knowing the precise boundaries of your property can help avoid costly headaches and conflict with neighbors down the road.

Learn more:

Why it’s essential to set boundaries while socially distancing yourself


With most people working from home and many more eager to connect with you, you’ve probably been approached for more Zoom meetings, FaceTimes, and phone calls than usual.

This time, however, you might find yourself without a good excuse to refuse. Everyone knows you are home and you probably don’t have anything planned tonight.

That’s why it’s crucial that we learn to set boundaries with people digitally in a way that is both professional and polite, but still firmly communicates what you do and what you don’t have the bandwidth for. .

According to Nedra Glover Tawwab, a licensed relationship therapist based in Charlotte, NC, a boundary is a mental, physical, and emotional boundary that helps you feel safe and comfortable with others. “Having boundaries is a way to honor your needs in your relationships with others,” she tells me.

Despite the importance of limits, many find it difficult to set them, especially now.

In the age of social distancing, Tawwab says it’s important to express that while some people may have more flexibility in their schedules, you need to communicate your limits verbally or through actions, such as sending messages. ‘voicemail calls when you are not available.

Here’s what Tawwab might look like:

  • “My work schedule has not changed and I am not available from 8 am to 4 pm.”
  • ” I will call you later. I am not free at the moment.
  • “Try to reach me after 5 pm.”
  • “Let’s set up a video chat so we can catch up. “

However, it’s important to remember that you don’t have to have a busy work schedule to decline a call. Many people experience a handful of different mental, emotional, and physical responses to the unprecedented challenges we continue to face, and sometimes that means needing more quiet time than usual.

If so, you can try sharing something like this:

  • “I’m not sure I’m ready for another call right now, hope you can understand.”
  • “I’m doing my best to take on new challenges right now and would like to take some time for myself tonight.”
  • “I would really like to catch up with you, but I don’t quite feel up to another video call today, could we reschedule?” “
  • “I’ve been on a lot of work calls and video conferences, so I try to take a break away from the screen. “
  • “I’m trying to limit the number of calls I’m taking right now so that I can focus my energy on my current projects, could we forward this via email? ”

Tawwab notes that you don’t need to justify or over-explain your reasoning.

The easiest way to set limits is to keep it simple without providing a story or apologizing for having limits, ”she says.

If you find yourself on the other side – whether you’re the person who keeps making calls, going out, or meeting – there are a few things you might want to consider as well. Try to approach your friend or colleague and give them an option.

You could say something like this:

  • “I would love to catch up. Are you available for video chat this week? “
  • “Let me know when would be a good time to chat. I would love to tell you about this new project that you have in progress.
  • “I know things are really stressful right now, but I would love FaceTime if you get the chance. Let me know when this would work for you.

By initiating this way, you offer your interlocutor a comfortable way to refuse. Essentially, you just don’t put them in a corner.

Remember not to assign an intention – we all have a finite amount of energy that we try to manage each day, and a host of new challenges to overcome while we’re at it. We don’t set limits because we fundamentally love someone or don’t have enough time for them, but because we need to prioritize our own health and well-being before we can effectively care for them. anything else.

It’s still true, but mostly in quarantine.

From boom to collapse | Featured sound system


WAYNESBURG – Greene County goes bankrupt.

Although she has received millions of dollars in payments from the natural gas industry to compensate counties like Greene that host natural gas wells, she is struggling to balance her budget of over $ 40 million. This year, in the midst of a pandemic, commissioners increased property taxes for the first time since 2010.

Without major changes, projections from the county budget office show Greene may not have the income or reserves to cover his costs by 2023.

It’s a financial situation that seemed almost guaranteed as the coal mining industry here has almost disappeared, emptying the backbone of the local economy. That was until the natural gas boom – and a massive influx of money that came with it – offered a different path.

The windfall seemed to give Greene County time to figure out how it would survive without coal.

But nearly 10 years and over 1,000 natural gas wells later, the county does not appear to be any better off financially than where it started, having spent $ 37.2 million on impact fees without setting aside. money to plan for the day when construction would inevitably slow down.

“I quickly realized that there was no budget planning,” said Mike Belding, one of the two new county commissioners in the three-seat governing body. “They were just spending the money as he came home.

Greene, home to 36,000 residents, is one of 31 counties in the state receiving “impact fee” payments under a state program launched in 2012, called Act 13. The funds are distributed annually and payments are based on factors such as the number of wells in an area and population.

According to reports filed with the Pennsylvania Public Utility Commission, only three other counties – Bradford, Susquehanna and Washington – received more money than Greene through the program’s lifetime impact fee.

But unlike others who have put money aside and saved it for future investments, budget reports show Greene has used around $ 17.5 million to balance his budget since 2015. The other half went to projects that the last commissioners deem short-sighted and unnecessary, such as ordering a $ 400,000 global plan that was never used and a $ 550,000 business loan program that was never used. ‘gave no return for the county.

Belding and the other new county commissioner, Betsy McClure, both Republicans, have vowed to stop using impact fees to balance the budget every year. So far, they have set aside around $ 4.5 million to use for future projects such as repaving roads, developing recreation areas and expanding broadband internet.

It hasn’t been easy, Belding said. Not relying on impact fees meant finding other ways to fill a $ 5 million hole in the 2021 budget.

“We tried every other opportunity we could, cutting all that expense,” Belding said. “We just couldn’t do it. So we made the difficult decision to raise taxes.

Bust, boom, bust

The decline of the coal industry is inevitable here. Just outside Waynesburg, the center of county government, the Emerald Mine appears to be inactive. It is one of nine that were in operation in 2011, according to records from the State Department of Environmental Protection.

But in 2015, Emerald Mine shut down for 38 years, citing depleted reserves, a slowing market and a tough regulatory environment. About 300 people have lost their jobs, and the mine’s green towers and endless rails are a constant reminder.

In 2019, the number of active mine sites increased from nine to four, and the county’s population declined by about 2,500.

“We are catching up to decades ago,” said Commissioner Blair Zimmerman, a Democrat who has served on the board since 2012 and has worked on the surface of the Cumberland mine for more than 40 years. He was previously mayor of Waynesburg.

He and the other two commissioners said the county should have started planning for the transition from reliance on coal a long time ago, and now it is paying the price for this inaction.

In 2012, Republican Governor Tom Corbett enacted Law 13, revising state regulations on the gas and oil industry.

In the first year of the program, Greene County was compensated $ 3 million. At the same time, temporary workers hired by gas companies to build hundreds of new wells have driven up demand for rental properties, Belding said. Properties rented for between $ 500 and $ 600 per month have sold for over $ 1,200, and new hotels have been built to accommodate the workforce.

Local businesses and restaurants were given a boost, and about 10 years ago a Walmart joined the ranks of fast food restaurants and gas station chains just off the highway.

The county was home to 1,257 natural gas wells and was collecting an average of $ 4.1 million in impact fee payments per year as of 2019, the most recent year for which data is available.

“It’s a godsend,” Belding said. “It’s like winning the lottery a bit. Getting a rush of money from something unexpected.

However, as the gas industry began to slow down, so did the number of out-of-town workers spending on hotels and the local economy. Energy companies are drilling fewer new natural gas wells, so payments under Bill 13 are also expected to decline.

The county also expects at least two more mining operations to end within the next two years.

Other rural Pennsylvania counties face similar challenges, said Lisa Schaefer, executive director of the County Commissioners Association of Pennsylvania, which supports county governments statewide.

Many have small commercial tax bases, but large areas of protected state land such as game areas, parks and forests, which are not taxed. The shrinking population means there are fewer people left to share the burden of property taxes. Those who stay tend to be older residents who are already out of the workforce.

About 18% of Greene County’s 36,000 residents are over 65 and 19% are under 18, according to census data.

Counties need to earn money to be able to provide services such as mental health supports, drug and alcohol programs, and child and youth services – programs that have been cut by dozens. millions of dollars at the state and federal levels in recent years.

“So if support for these levels continues to decline as well, it is increasingly difficult for counties to make up the difference, especially when they only have property taxes to turn to,” said Schaefer.

Neglecting reservations

Counties have broad discretion over how they spend impact fees, but they are required to report details to the Pennsylvania Public Utility Commission, and these reports are public online.

Records show Greene allocated millions to categories such as building public infrastructure, social services and public safety, but they don’t show exactly how this was broadcast. And in the past nine years, none has been devoted to planning initiatives, tax cuts, water conservation, or career and technical centers.

In contrast, Bradford County said it deposited about $ 23.8 million of its Bill 13 payments into its capital reserve fund. Washington, Greene’s most populous neighbor to the north, has set aside $ 37.1 million in reserves, records show. But Greene County has only set aside about $ 1.2 million for the capital reserve.

“For years before, it was difficult to have county leaders who just claim that coal is going to continue to grow at the same rate as before,” said Veronica Coptis, a native of Greene County and executive director of the Center for Coalfield Justice, a Washington County-based nonprofit that advocates for communities where fossil fuel mining takes place.

She has been working on issues related to the region’s economic development for seven years.

“It is definitely a turning point to see elected officials recognize the reality of our economic crisis,” said Coptis.

Residents often tell him that their communities need investments in basic infrastructure. This includes tackling issues such as burning or repaving roads and sidewalks, she said.

“They need to be able to trust their water,” she added. “Their schools must be good.

‘It’s pitiful’

Bob Morris, 58, opened Burgers and More – a walk-in sandwich shop serving beef from his own farm – on State Route 21 in Waynesburg about a year and a half ago.

He expected most of his customers to be truckers carrying fuel and equipment for local drilling operations. Instead, the majority are local residents looking for alternatives to fast food chains – the only businesses that seem to be able to survive, Morris said.

His niece, Kelli Bosworth, helps run the kitchen. Even on a cold Friday at the end of winter, there is a constant crowd for lunch, and Bosworth juggles between answering the phone and taking orders without an appointment.

As a 34-year-old mother of four, Bosworth said she would like to see more opportunities for her children – safe places like parks or pools where they can play, internet access and education .

About 20% of the county’s households had access to the internet in 2018, according to census data. As of last spring, about 40% of the county’s 4,652 elementary and high school students did not have access to online classes when schools closed at the start of the pandemic, according to county estimates.

It’s an improvement that longtime Greene owner Johnny Humble says is essential if the county is to attract – and retain – new businesses and residents. Of the 13 new businesses that held groundbreaking ceremonies with the county in 2019, 12 replaced previously full storefronts, Belding said.

Humble has run his business for 47 years, first with his father, then alone as a Humble Carpet and Decorating Center for 25 years. He still installs parquet with his son every day.

Although many of his clients are local, having a website and social media presence was essential to helping his business survive and grow, even before the coronavirus pandemic hit and he was forced. to limit in-person meetings with potential clients, Humble said.

“For God’s sake, we are living in 2021,” Humble said. “It’s pitiful.”

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Nottingham Forest squad news as boss Chris Hughton names his eleven to face Watford


Ryan Yates has returned to the starting lineup from Nottingham Forest as boss Chris Hughton made three changes to his eleven against Watford.

Midfielder Yates had missed the last two games with a recurrence of the calf problem that had sidelined him earlier this year.

But he was back in line for the Reds’ clash at Vicarage Road, with Cafu the man to fall on the bench.

Gaetan Bong also returned to the squad at left-back as Yuri Ribeiro was left out of today’s squad.

And there was a comeback for Luke Freeman, with Joe Lolley among the substitutes having started the 1-0 midweek loss at home to Luton Town.

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That meant the Reds would start with a back four made up of Cyrus Christie, Tobias Figueiredo, Joe Worrall – again team captain – and Bong, ahead of goalkeeper Brice Samba.

Yates was set to partner with Manchester United lender James Garner in midfield, with the latter back to the club where he spent the first half of the season on loan.

Freeman would join Anthony Knockaert and Filip Krovinovic in attack, ready to back lone striker Glenn Murray.

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It was also a return to territory known for the front man because he too spent the first part of the campaign on loan with the Hornets.

Forest was still without the injured Lewis Grabban, Harry Arter and Scott McKenna.

Along with Cafu and Lolley, Jordan Smith, Loic Mbe Soh, Jack Colback, Sammy Ameobi, Carl Jenkinson, Tyler Blackett and Lyle Taylor would form the substitutes’ bench.

Forest: Samba, Christie, Figueiredo, Worrall, Bong, Garner, Yates, Knockaert, Krovinovic, Freeman, Murray. Subtitles: Smith, Mbe Soh, Colback, Ameobi, Jenkinson, Cafu, Lolley, Blackett, Taylor.

SBA data shows nearly 1,400 businesses in Lebanon County have received PPP loans


Data released by the U.S. Small Business Administration (SBA) on July 6 shows that more than 200 businesses with postcodes in Lebanon County have received Paycheck Protection Program (PPP) loans of at least $ 150,000. , and nearly 1,200 others borrowed smaller amounts.

PPP is a loan program that Congress created when it passed the CARES (Coronavirus Aid, Relief, and Economic Security) law. The provision of the CARES Act aims to help small businesses, self-employed, sole proprietorships and nonprofits continue to pay their workers during the COVID-19 pandemic.

Read more: Local Lenders and Businesses Take Advantage of SBA Paycheck Protection Program Loans

Loan amounts are linked to the average monthly payroll of a business.

Local businesses receiving PPP loans of at least $ 150,000 were named in the dataset, while those borrowing less than $ 150,000 were not.

The US Treasury Department and the SBA initially had resisted publish information on the taxpayer-funded program, citing the sensitivity of information on the income and wages of corporate borrowers, but ad the release of the information on July 6.

“Today’s release of loan data strikes the right balance between transparency and protection of salary and personal income information for small businesses, sole proprietors and independent contractors,” the secretary said. US Treasury Department Steven Mnuchin regarding the availability of the dataset.

Under the P3, businesses can get loan forgiveness if the money is used for payroll, mortgage interest, rent, and utilities, and if certain employee and compensation levels are maintained. Businesses don’t have to keep their employees, but if they don’t, the loan amount forgiven will be reduced and businesses will have to repay the outstanding amount, at one percent interest. , within 24 months.

Number and amounts of loans from the county of Lebanon

The SBA has not released the exact amounts of all money loaned to local businesses under the P3. Instead, he bracketed the amounts and number of loans as follows:

  • $ 5-10 million: 2
  • $ 2-5 million: 6
  • $ 1 to $ 2 million: 19
  • $ 350,000 to $ 1 million: 67
  • $ 150,000 to $ 350,000: 109
  • Less than $ 150,000: 1,192

Exact loan amounts are included for loans less than $ 150,000, but as mentioned above, the names of these companies are not.

Just under $ 42 million was distributed to local businesses through loans of less than $ 150,000, with an average loan size of around $ 35,000. About 6,100 jobs have been “retained” through this program, a loosely defined concept that generally refers to the overall workforce of a business, with an average of five jobs retained per loan. This works out to about $ 6,900 per job retained. The main industries represented in these loans were religious organizations (47), “all other personal services” (35), “all other business support services” (34), real estate agents and brokers (32) and full service restaurants (30).

At least $ 80.8 million has been distributed to local businesses through loans greater than $ 150,000, with about 11,000 jobs retained or an average of 55 jobs per loan. This comes down to about $ 7,300 per job retained, although this is a lower limit based on using the minimum amounts for each of the loan tranches described above. The main industries represented in these loans were new car dealers (7), electrical contractors (7), full-service restaurants (6), doctors (5) and dentists (4), machining (5) and plumbing / heating / air conditioning contractors (5).

About 42 percent, or 84, of loans over $ 150,000 were made to businesses in zip code 17042. Additional zip codes with more than 10% of loans were 17046 (33 loans, 16%), 17067 ( 24 loans, 12%) and 17,078 (23 loans, 11%).

About 32%, or 381 loans, of less than $ 150,000 were made to businesses within zip code 17042. Additional zip codes with more than 10 percent of loans were 17078 (209 loans, 18 percent), 17046 ( 163 loans, 14 percent), 17,067 (120 loans, 10 percent) and 17,003 (120 loans, 10 percent).

Main borrowers, number of jobs that should be retained

The top eight borrowers and the number of jobs they said they expected to keep with the P3 loan money are:

$ 5,000,000 to $ 10,000,000

  • Weber, Inc .: 500 jobs retained
  • Consulting services in Pennsylvania: 500 jobs retained

$ 2,500,000 to $ 5,000,000

  • Cornwall Manor: no number given
  • Cedar Haven Acquisition, LLC. : 400 jobs retained
  • APR Supply Co.: 312 jobs retained
  • Denmar Associates, Inc .: 307 positions retained
  • PPC Lubricants, Inc .: 219 jobs retained
  • Everlast Roofing, Inc .: 215 jobs retained

Main lenders

Fulton Bank was the lender on 69 (34%) of loans of $ 150,000 and over, including three of eight loans of $ 2 million or more. Fulton Bank was the only lender to have managed more than one of the eight largest PPP loans.

Other financial institutions that made seven or more loans of at least $ 150,000 were:

  • Community Bank of First Citizens: 17
  • First National Bank of Pennsylvania: 13
  • Trust Co. Manufacturers and Traders: 10
  • Truist Bank d / b / a Branch Banking & Trust: 10
  • Jonestown Bank: 9
  • 1st Federal Credit Union members: 8
  • Peoples Security Bank & Trust Co .: 8
  • Orrstown Bank: 7
  • North West Shore: 7

Fulton Bank was also the largest originator of loans under $ 150,000, with 311, or about 26%. Jonestown Bank was the second largest originator, with 194 loans, or around 16%, followed by First National Bank (82 loans, 7%) and First Citizens (81 loans, 7%).

A searchable PPP loan database is accessible here. To view the LebTown data used to report this article, Click here. Additional figures accessible in this spreadsheet include the breakdown of loans between different cities and zip codes in Lebanon County, as well as the breakdown by sector.

Watch for more LebTown reports against this data in the days and weeks to come.

Note on the methodology: LebTown data was constructed by filtering aggregate files for zip codes which are primarily contained within Lebanon County. However, as noted in our COVID-19 tracker, zip codes do not fall perfectly within county boundaries, and as a result, some included businesses may be located outside of county boundaries. Likewise, we have omitted postal codes that contain limited amounts of land in Lebanon County, such as 17545 (Manheim), 19551 (Robesonia), 19567 (Womelsdorf) and 17963 (Pine Grove). We continue to refine the data and may update this article in the future.

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Davis Shaver contributed reporting for this article.

Stoke City boss confirms Angus Gunn loan status at Southampton amid “extreme competition”


Michael O’Neill has confirmed that Angus Gunn has entered into a loan deal with Town of Stoke until the end of next season.

The 25-year-old returned to the gloves after returning from an ankle injury, having been in a close three-way battle for first place with Adam davies and Joe bursik.

Davies started the campaign in first place until he injured his knee in October and – after Bursik, 20, was recalled from the loan at Doncaster and impressed in their absence – Gunn was back in shape. when O’Neill made a change in January.

Bursik has watched the last two games from the stands after Davies also regained his physical form, but the manager believes it has been an important year for his development.

“You have to be fair to the player” O’Neill told Radio Stoke’s Matt Sandoz. “Joe has done very well for us as a young goalkeeper entering the championship, having had the first part of the season on loan at Doncaster. He’s gaining experience all the time.

“Angus was ready to play, Joe was feeling peckish and with that Angus seized the opportunity. It’s unfortunate for Adam Davies because at the time he was just a little slower in his return from injury.

“These are all decisions I have to make.

“Joe is a big part of the future of this club – but being a goalkeeper is part of the team. There is only one who can play. Joe is taking care of that now, that is. is the other side of being a goalie.

“It’s up to Angus to make sure his form stays at a level where I don’t have to consider either of the other two guys.”

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He added: “Angus has entered into a loan deal for this season and next, so we’re not looking any further than that at the moment.”

Longtime former Stoke goalkeepers coach Andy Quy, on duty at Radio Stoke last night, knows the club are well stocked in that department, which will mean tough decisions.

He said: “It’s a really interesting prospect for the club in terms of goalkeeper management. With Angus being there for another season, Adam Davies still under contract and Josef having entered the first team, played at a good level and showed he is capable in the league.

“Also with Blondy (Nna Noukeu) behind pushing hard, there are four very good goalkeepers to welcome at the moment.”

He added: “I think there was an agreement (for Gunn) based on Joe’s loan out to League One and we weren’t expecting him to feature this season for Stoke City, It’s certain.

“I don’t think the club thought Joe would play in the league this season, the lane was considered a loan at Doncaster and there would be a full season and play good games at a high level. Doncaster is also looking for a promotion so this would have been a good test for him.

“The fact that Joe has come in and played at a very good level due to injuries gives them a problem as to how they are going to accommodate three first-team goalkeepers they have in the future and expect. certainly looking forward to next season. “

These top three team goalkeepers are expected to fight fiercely on a day-to-day basis at Clayton Wood.

Quy said: “It’s going to be extremely competitive. The training will be good, of high quality. They are three fantastic people in terms of people, the way they do their jobs and the qualities they have. The training will be excellent.

“The disappointment will come at the end of the week. One of them will be missing. But they will all have read the situation until January, they are not stupid. They understand in which direction things are going to go.

“Joe will have known that the other two would have been on his heels coming back from injury. It’s competition and you have to thrive in those conditions. His time may return, there are a lot of games by the end of the season.

Clubs are expected to follow Davies and Bursik’s status ahead of the summer transfer window. Davies will enter the final year of his contract while Bursik signed a long-term contract last season to keep him at the club until 2023.

Quy said: “This is something that will be evaluated at the end of the season. They will be looking at the goalkeepers in the building and what will be best for those individuals at this point and what will be best for the club.

“There may be interest from other clubs in Adam Davies or Josef, they have both played at a high level, so it’s up to Stoke City to make a decision on what they want and where they see the future of these keepers. “

The bet365 stadium will host the pre-season dinner

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Bursik made 16 appearances for Stoke before being pulled from the squad last month.

“I think at first he will be very disappointed,” Quy said. “He will feel that he has played at a good level, he will know what he needs to learn and what mistakes he made and how to correct them. He will have worked hard to achieve it.

“He will be desperate for another opportunity. He tasted it and he will be really desperate to get another one, hopefully this season.

“The first thing will be disappointment, the second thing will be knowing that he has to support the team, work hard, train hard every day and show the manager that you are the best that he can be every day and that that’s why he should be put on the squad again.