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Robins Financial Credit Union acquires Persons Banking Company

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Robins Financial Credit Union has signed a definitive agreement to acquire Persons Banking Company, a state chartered bank headquartered in Forsyth, GA.

“Robins Financial has a long history of improving the financial well-being of our members and the community,” said Christina O’Brien, President and CEO of Robins Financial Credit Union. “We have a strategic commitment to bring the benefits of credit union membership to more people while strengthening our position as a strong and trusted financial institution. The addition of Persons Banking Company will allow us to expand our footprint and ensure that we are able to impact the community as we live our mission to be member, funder and community driven. proud community.

The acquisition will provide members and employees of both companies with access to expanded products and services, in particular a full suite of business services ranging from business loans to enhanced business deposit products, as well as more assets finance and technology combined.

“I am excited about the opportunity we have to partner with Robins Financial in an effort that we believe provides significant opportunities for our customers, communities, employees and shareholders,” said Ogden Persons, CEO of Persons Banking Company. . “This partnership is an excellent opportunity to create value for both institutions.

“We are delighted to have the opportunity to offer additional benefits to our customers. With this acquisition, Robins Financial will expand its presence in the commercial market,” said Keith Beckham, President of Persons Banking Company. “I look forward to being part of this process and I look forward to being part of the Robins Financial team.”

Persons Banking Company, formerly The Farmers Bank, was formed in February 2015 from the merger of The Farmers Bank, The Peoples Bank, The Bank of Perry and Spivey State Bank. As of December 31, 2021, Persons Banking Company had $429.5 million in assets and five locations in Georgia.

As the second largest credit union in the state of Georgia, Robins Financial Credit Union, which was established in 1954, currently has over 240,000 members.

Honigman is representing Robins Financial Credit Union as legal counsel and Mercer Capital is its financial advisor in connection with this transaction. Fenimore Kay Harrison represents Persons Banking Company as legal counsel and Hovde Group and DA Davidson & Company are its financial advisers.

Arsenal news: Gunners’ ‘future’ claim made as Mikel Arteta challenge begins to bear fruit

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Former Arsenal captain Cesc Fabregas has called Bukayo Saka and Martin Odegaard the future of the club after the two were on the scoresheet in the 3-2 win over Watford on Sunday afternoon.

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Watford vs Arsenal: the pictures

Arsenal bolstered their top four Premier League hopes by beating Watford 3-2 on Sunday afternoon.

Manager Mikel Arteta played a major role in his side’s third goal which all but sealed the three points.

Martin Odegaard, Bukayo Saka and Gabriel Martinelli were all on target for the Gunners, who now sit fourth in the Premier League table.

Here are the latest titles from the Emirates Stadium…

Is Bukayo Saka Arsenal’s Player of the Season so far? Have your say in the comments section






Bukayo Saka was on the scoresheet as Arsenal beat Watford 3-2. (Photo by Alex Pantling/Getty Images)

Areta’s helping hand

Mikel Arteta asks Arsenal to finish in the top four while proving his tactics from the dugout.

However, for the Gunner’s last goal, he played a hand in motion, quite literally.

Coming out of his technical area to collect the ball, Arteta quickly gave the ball to Buyako Sako.

The England international then launched a counter-attack which led to Gabriel Martinelli putting the ball in the back of the net.

Read the full story here.

The Odegaard challenge works

One of the many roles of a manager is to motivate his players and get the most out of them.

Speaking ahead of the match, Arteta said summer signing Martin Odegaard needs to create and score more goals in the future.

“He has to play close to the opponent’s box, that’s for sure,” Arteta admitted ahead of Sunday’s game.

That’s exactly what the former Real Madrid playmaker did, opening the scoring as Arsenal won 3-2.

Read the full story here.

Fabregas salutes the duo

Bukayo Saka has once again shown the Premier League and the world just how good he is without even stepping into his prime.

The England international’s goal was his team’s second of the afternoon and put Arsenal ahead again, as they won 3-2.

Saka has been a revelation this season after announcing himself to the footballing world last season.

And former Arsenal captain Cesc Fabregas has called him and Martin Odegaard the club’s “present and future”.

Read the full story here.

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The company can raise a bank loan to complete an office complex

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The Kochi Corporation can apply for a bank loan to complete the construction of its new office complex.

It is estimated that the building, which stands near Marine Drive, could cost around ₹60 crore for completion.

The civic body has already disbursed around ₹19 crore for the project, which was started in 2005. The estimate for the project was revised to around ₹25 crore in 2006. Construction of the building was stalled for some time, which led to increased costs.

A package of proposals worth ₹28 crore will be submitted for consideration by the board of Kochi Corporation, which will meet on Tuesday. The proposals relate to interior electrification works, Wi-Fi, lighting, fans, air conditioners, layout of workstations and the UPS system. Proposals for the supply of furniture, painting and interior and finishing work will also be submitted for consideration by the council.

Financial proposals will be forwarded to the Chief Engineer of the Public Works Department as they reach millions. Some of the elected representatives of the UDF had previously made such a request.

Raising loans, Mayor M. Anilkumar said, for such projects is not new to the civic body. Earlier too, the civic body had taken out bank loans to meet the financial needs, including the purchase of the land in Brahmapuram. Repayment of loans will be possible for the community. In a few years, the amount, which will have to be raised now, will not be a financial burden and repayment of the loan will be an easy affair, he said.

On the suggestion of making full use of the civic body’s plan fund to complete the building, which was raised at a recent meeting of the corporation’s finance standing committee, Mr Anilkumar said the entire plan funds cannot be used for the project as it would conflict with other civic body activities. A portion of the Plan fund could be used. The remaining amount must be generated by other means, including the loan, he said.

Inflation is rising, catastrophes abound and the market is becoming volatile: what should an investor do?

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What should ordinary investors do now that the ground seems to be shifting beneath their feet?

Inflation is at historically high levels. Interest rates on consumer debt are rising.

And Europe’s biggest ground war since World War II erupted with Russia’s invasion of Ukraine last week.

The urge in times of apparent trouble is to do something impulsively or to think you should.

Resist the urge.

Yes, the world is a bit crazy now for “disaster investors”.

These are the high-flying speculators trying to profit from the wild swings in commodity prices resulting from geopolitical crises.

Let them get on with it.

But ordinary investors have little reason to reorganize their financial furniture.

Standing tapping is a good plan. Now is the time not to let ominous headlines distract you from maintaining household cash flow and saving for retirement.

The biggest challenge to these goals is inflation.

Expect inflation to get worse before it goes down. Statistics Canada will soon release inflation figures for February which will put price inflation at around 6%, even worse than the 30-year high of 5.1% recorded in January.

But the cavalry arrived.

With its quarter-point hike in its key rate this week to 0.5%, the Bank of Canada launched its long-awaited campaign of rate hikes aimed at bringing inflation down to 2%.

The Bank’s chances of success are good.

The current level of price inflation is abnormal and temporary.

It is a result of the rapid pace of global economic reopening and recovery and the resulting labor shortage and supply chain crisis. A geopolitical crisis in Eastern Europe did not help.

In contrast, the decades preceding the pandemic, dating from the aftermath of the oil shocks of the 1970s, were characterized by moderate inflation.

Meanwhile, however, banks and other consumer lenders raised rates this week along with the Bank of Canada.

They will continue to drive up the cost of borrowing with three or four more rate hikes planned by the Bank of Canada over the next year.

The era of easy money is not quite over, but it is coming to an end.

Which means careful budgeting and paying off mortgage, credit card and other debts have become more important.

Today’s uncertainty also has the potential to disturb ordinary investors’ sleep with money in the stock market.

However, equity markets are traditionally resilient to geopolitical shocks.

“Historically, events such as war, assassinations and terrorist attacks are simply not that significant to the factors driving the markets,” US fund manager Barry Ritholtz wrote this week.

“What drives stock prices is rising corporate revenues and profits, and the typical geopolitical event isn’t big enough to change them much.”

Indeed, the S&P/TSX Composite Index fell 0.5% on the first day of Russia’s invasion of Ukraine.

But in six days, the Toronto Stock Exchange had recouped this loss and posted a gain of 4% compared to the closing level of the day before the attacks.

The current allure of investing in the oil and gas sector is undeniable.

But beware.

A world oil price that was already in freefall before the start of the Ukraine invasion has jumped another 20% since the start. Canadian oil inventories have increased by about 90% over the past year.

It is worth testing the assumptions behind these high prices.

Which means, in a nutshell, that Canada and other energy exporters will not increase their production to cover a Russian shortfall.

And that Russian oil and gas will all but disappear from the world market, even though Western sanctions have largely exempted it.

And that consumers won’t reduce their oil and gas consumption, easing upward pressure on fuel prices, although Canadians have done so with every energy crisis since the oil shocks of the 1970s.

If you’re looking for security and decent returns, fixed income investments have become more attractive now that interest rates are on the rise.

The same goes for blue-chip stable-income stocks with high dividend payouts, like BCE Inc., the Big Five banks, and food retailers Metro Inc. and Loblaw Cos.

And have homes in Toronto.

The world price of oil has twice crashed by around 80% in the past decade. In contrast, the Toronto real estate market is stable.

In the past decade, the average sale price of Toronto homes has only fallen once, and briefly, by about 10% in 2017.

Goodness knows, a break from the near tripling of the average home sale price in Toronto over the past decade would be a welcome respite from about two years of near-panic buying.

But a pause means prices flatten, not fall sharply, before the long-term trend of rising values ​​reasserts itself.

This is the most likely future for the Toronto real estate market. It gives new meaning to the old phrase ‘safe as houses’.

Northern Hills Federal Credit Union expands in new location | Local News

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BELLE FOURCHE – To better serve its members, the Northern Hills Federal Credit Union (NHFCU) will move into its newly constructed building at the corner of Montana Street and Dakota Avenue, Belle Fourche, in late April.

“The new facility will have two ATMs and two ATMs. There will be more offices and an improved cashier and waiting areas,” said Kip Wagner, site manager.

The Northern Hills Federal Credit Union (NHFCU) was incorporated in October 1950 as the Fort Meade Federal Credit Union. At that time, he only served Fort employees. Meade Veterans Hospital. In 1985, the credit union moved to a facility in Sturgis on Main Street. Around this time, the name was changed to Meade Plus Federal Credit Union, and the scope of membership was expanded to serve other employer groups. In the 1980s the council expanded to Belle Fourche and later to Spearfish and Deadwood.

Together with the four branches, the NHFCU is the 10th largest credit union in South Dakota with assets totaling $127.24 million and providing banking services to approximately 10,000 members.

Today they are known as Northern Hills Federal Credit Union, which serves a large and diverse membership. With nearly 70 years of member-serving experience as a member-owned financial institution.

NHFCU has kept one goal in mind, to help improve the financial situation of each of its members by encouraging saving and borrowing at fair rates.

Wagner said the philosophy that will guide our organization over the next 50 years is that people help people.

The existing building at 504 Grant Street has been sold and will likely be occupied by a retail business.

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Son threatened his widowed mother into giving him huge sums of money to pay off his gambling debt

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A son who has accumulated a large debt through gambling has repeatedly threatened his recently bereaved mother to pay for the cost of his addiction.

Ben Rowsell made the threats shortly after his father died from July 2020 to August 2020, Merthyr Tydfil Crown Court understood.

Prosecutor Ieuan Bennett told the court how Rowsell threatened to fabricate a story to her mother’s employer that she was missing work, post embarrassing photos of her on social media, run her car on a hill and burn his clothes.

Read more: For more information on Rhondda, visit our Rhondda homepage here

In response to his threats, his mother agreed to pay him over £11,000 within a month. She also gave him over £25,000 in an attempt to get him to leave the family home, which he agreed to, but remained to live in the house.

The latest threat of damage to her clothes and belongings left her mother so worried that she decided she had to notify the police.

At the time of his arrest at Belle Vue Terrace, Treforest on August 17, 2020, the court heard how unapologetic Rowsell was for his actions.

Mr Bennett told the court: “The defendant was initially facing a criminal act of blackmail to which he pleaded not guilty on December 9, 2020. The case was then set down for trial in April this year.

“But the mother, who is the victim in this case, contacted the police and the CPS to indicate that she had decided not to support the case of the prosecution and not to appear as a witness at the trial.

“She explained that she had managed to improve her relationship with her son and that she did not want him to go to prison.”

As the blackmail charge was therefore dropped, Rowsell, 25, was instead charged with sending malicious texts with the intent to cause stress and anxiety to which he pleaded guilty. The first blackmail count will continue to lie on record, Mr Bennett said.

Mr Bennett continued: ‘The defendant’s gambling habit got worse in the spring of 2020 and it got worse after his father passed away. It appears his mum had managed to save some money and had savings of up to £180,000.

“His mother agreed to give him quite a large sum of money. In March 2020 she gave him £15,000 and in February 2020 she gave him £10,000.

“She asked him to leave the family home and said she would pay him £25,000 to do so. It seems that it didn’t work out and he stayed.

“In July 2020, the accused began uttering threatening phone calls asking him for money.

“He threatened to upload photos to social media which he said would embarrass her. He accused her of lying about her illness and said he would contact her employer. He threatened to roll her car down a hill.

“Following these threats in the summer of 2020, she gave him £11,800. There were two payments of £5,000, one of £1,200 and one of £600.

“She then decided, in light of the threats, that she needed to get in touch with the police. What prompted her to do this was a phone message from the accused of a photo of him holding a lighter on his clothes.

Mitigating Tim Evans said: “The defendant has no prior convictions, he has three strong character references and he wrote a letter of apology to the court prior to the pre-sentence report which details his state of mind at He looks back on this part of his life with absolute disbelief.

“His mother found within herself the courage to still love her son. She always supports him. It’s wonderful to know.

“The accused pleaded guilty at the earliest opportunity to the new indictment.

“He’s been working now for a while and he’s doing his best to avoid the adrenaline that he no doubt still feels thinking about the gambling that is part of the terrible addiction.”

Check crime reports where you live:

Judge Christopher Vosper QC spoke directly to Rowsell in court, saying: ‘It is frankly hardly believable that a son could have behaved towards his mother as you did at a time when she did not showed only kindness and had recently been widowed and was ill.

“You have a gambling habit or at least had one back then. It was a habit you had before June 2020, but after your father died, your mother thinks you have been gambling a lot more.

“You knew she had savings. You had gambling debts and decided you wanted some of that money.

“I saw the letter in which you express regret and of course you do so when you are sitting in court. But you showed no concern for your mother during the time of the indictment.

Judge Vosper QC told Rowsell he was lucky his mother did not back the blackmail charges against him.

He explained that he did not believe a short prison sentence was necessary and instead gave Rowsell a 12-month, 100-hour community order which included a 15-hour rehab class requirement.

As Rowsell of Wind Street, Porth, faces a surcharge, the judge told him he would not impose a financial penalty so the defendant could repay his debts.

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Dollar Loan Center opens in Henderson

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Henderson and sports officials are ready to double down with the opening of the Dollar Loan Center arena.

The $84 million facility is hosting its first event this week – the Big West Basketball Championships which run Tuesday through Saturday. The 6,000-capacity arena hosts two sports teams, the Vegas Silver Knights of the American Hockey League and the Vegas Knight Hawks of the Indoor Football League.

Designed as a smaller version of the Golden Knights’ home ice, the 6,000-capacity arena will host two sports teams, the American Hockey League’s Vegas Silver Knights and the Football League’s Vegas Knight Hawks. indoors.

Golden Knights team owner Bill Foley said he’s excited about the possibilities the Valley’s new athletic facility has to offer.

“I think what we’ve really done here is build a mini T-Mobile,” Foley said. “It’s about a third the size, but this version of T-Mobile, the Dollar Loan Center, is on steroids. I mean, it’s gorgeous on the inside and has all the amenities you’d want in an event center. It’s great for us and our teams.

The arena seats 5,573 fans for the Silver Knights and Knight Hawks games, with the ability to accommodate nearly 500 more via standing-room sections.

“There really isn’t a bad place in the house,” Foley said. “We went to great lengths in the design process to make sure the sight lines for indoor football, basketball or hockey are all perfect from anywhere in that arena.”

Dollar Loan Center also offers premium seating, including 28 suites, including four party suites, 167 club seats and 92 lodge seats.

The facility also includes a Craggy Range Sports Bar & Grill restaurant which will be open daily from Monday. Naming rights partner, Dollar Loan Center, also has an onsite retail short-term loan outlet that is open daily.

The Silver Knights team store, The Armory, will also be open daily for fans to pick up their favorite gear.

Crews built the 200,000 square foot facility in about 18 months, largely on the backs of 1,282 people working 415,000 man hours.

To show his appreciation for their hard work, Dollar Loan Center founder and arena naming rights sponsor Chuck Brennan gave the Knights organization $50,000 to split among project workers.

Besides sports, the arena is expected to be used for community events such as high school graduations, concerts, and other one-time events. This flexibility and the expected annual economic impact on the region is why Henderson pledged $42 million in public funding for the project.

“We’re excited about this and the investment that’s being made,” Henderson Mayor Debra March said. “We are looking at an annual return of $36 million in economic benefits in terms of putting money back into the economy. Boosting business, helping businesses in the district (at Green Valley Ranch) that were struggling. It’s really good for the community.

March believes the addition of the arena will help attract new businesses to the area, including some that might otherwise have looked elsewhere.

“There’s a lot of people looking to do more here because it’s an anchor,” March said. “It’s an anchor that’s going to do a lot of good for all of Henderson. It really brings east and west together with this central gathering place.

The Silver Knights will begin play at the Dollar Loan Center on April 8, when they leave their temporary home, Orleans Arena. Not only does the opening give the team a state-of-the-art location, it also moves the team a few miles from its training facility, Lifeguard Arena on Water Street in Henderson.

“It gives us a competitive edge,” Foley said. “Most of our Silver Knights players live in Henderson, so they bring that to the community. They are also in the community, visiting police stations, fire stations and schools. They are integrated into this community, just as VGK is integrated into all of Clark County.

Contact Mick Akers at [email protected] or 702-387-2920. To follow @mickakers on Twitter.

CAPIO SHARES RESULTS OF ANNUAL SUPPLIER PARTNER SURVEY

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“Each January, we survey our customers’ decision makers – typically the CFOs and CEOs of major hospitals and physician groups – to receive feedback on the quality of service from previous years and areas for improvement,” said explained Cannon. “The responses are extremely valuable and help our leadership team shape our strategy for the coming year and beyond.”

Cannon continued, “Our results over the past few years have been positive, but there is always room for improvement. We have great relationships with our customers, but we strive to be more advisory than reactive…and our results this year have demonstrated that our strategy is working for our healthcare partners.”

A new addition to Capio’s survey this year was to define the company’s Net Promoter Score (NPS) as an indicator of customer loyalty. Capio specifically asked its customers how likely they would be to recommend Capio to a friend or colleague. Capio’s NPS was a remarkable 78 (as a benchmark; scores above 50 are considered excellent. Apple’s most recently published NPS was 72; Costco’s last known NPS was 79).

“This high Net Promoter Score was hugely significant for our entire team,” Kutchel added. “As we explore the idea of ​​providing new products and programs to help consumers burdened with medical debt manage their path to financial well-being, we need to ensure that we provide the best service in the These high scores demonstrate the strong relationships we have with our customers and why they trust Capio not only as a supplier, but also as a true partner to support their business and their mission.”

Kutchel explained: “We were touched by many of the comments received, especially when hospital systems referenced the professional and thoughtful way our Capio team interacts with their patients. The level of trust and comfort that these important healthcare organizations have with Capio is exceptional.

The specific results of the Capio survey are as follows:

  • How likely are you to recommend Capio to a friend or colleague?
  • Overall, are you satisfied or dissatisfied with Capio?
    • Very Satisfied: 90%
    • Somewhat satisfied: 10%
  • Which of the following words would you use to describe our services? (Respondents could choose more than one word)
    • Reliable: 90%
    • Useful: 68%
    • High quality: 58%
    • Good value for money: 32%
    • Single: 25%
  • How well do our services meet your needs?
    • Extremely well: 53%
    • Very good: 42%
    • Fairly well: 5%
  • How do you rate the quality of service?
    • Very high quality: 55%
    • High quality: 45%
  • How well have we responded to your questions or concerns about our services?
    • Extremely responsive: 69%
    • Very responsive: 31%
  • How likely is your business to use our service again in the future?
    • Extremely likely: 50%
    • Very likely: 48%
    • Somewhat likely: 2%

About Capio
Capio helps healthcare providers and physician organizations increase their cash flow, while reducing their bad debts. To date, Capio has acquired and provided consumer services with more than $37 billion in patient accounts receivable, through partnerships with more than 800 supplier customers across the United States. Capio is committed to becoming better partners for its customers and to developing initiatives to help patients pay their medical bills and achieve financial well-being. To learn more about Capio, please visit our website.

SOURCECapio

Quarterfinal Recap: 2022 PenFed Credit Union Patriot League Men’s Basketball Championship

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BETHLEHEM, Pennsylvania – The top four seeds of the 2022 PenFed Credit Union Patriot League Men’s Basketball Championship protected the home court and advanced to Sunday’s semifinal. Both semi-final matchups will be broadcast live on CBS Sports Network.

No. 1 Colgate puts his 13-game winning streak on the line against No. 4 Lehigh, who handed the Raiders one of their two league losses this season. Live coverage between the Raiders and Mountain Hawks begins at 2 p.m. from Cotterell Court in Hamilton, NY

No. 2 Navy returns to the semifinals for the first time since 2018-19 and will host No. 3 Boston University, the 2020-21 League champions. Live coverage begins at 4 p.m. from Alumni Hall in Annapolis, Md.

COLGATE VIEWER INFORMATION | INFORMATION FOR NAVY SPECTATORS

For more information on the 2022 PenFed Credit Union Patriot League Men’s Basketball Championship, CLICK HERE. To view the PenFed Credit Union Patriot League Championship schedule, CLICK HERE.







DATED MEN’S BASKETBALL CHAMPIONSHIP | ROUND | BLANKET TIME

(every hour ET)
Sunday March 6 No. 4 Lehigh to No. 1 Colgate | Semi-finals | CBSSN 2 p.m.
Sunday March 6 Boston University No. 3 at Navy No. 2 | Semi-finals | CBSSN 4 p.m.
Wednesday March 9 2022 PenFed Credit Union Championship Game | CBSSN 7:30 p.m.

TO NO. 1 COLGATE RAIDERS (21-11, 16-2 PL) 96, NO. 9 BUCKNELL (9-23, 5-13 PL) 68
Cotterell Court/Hamilton, NY 7 p.m. (ESPN+)

THE SCORE OF THE BOX
HAMILTON, NY – Fifth-year guard Jack Ferguson scored a career-high 28 points to lead four double-digit Raiders, as No. 1 Colgate picked up a 96-68 victory over No. 9 Bucknell to advance to the semi-final of the Patriot League Championship for the fifth consecutive season.
* Ferguson connected 10 of 12 from the floor, including 7 of 8 from long range to help the Raiders win their 13th straight game. He had 17 points in the first half to help the Raiders open a 13-point lead at the break.
* Senior guard Nelly Cummings finished with 15 points, four assists and three steals, while sophomore center Jeff Woodward added 11 points and five rebounds off the bench. Junior center Keegan Records contributed 10 points.
* Colgate, the No. 5 3-point shooting team in the NCAA DI, connected 68.4 percent (13 for 19) from beyond the arc.
* Bucknell junior guard Xander Rice led the Bison with 17 points, six assists and two steals.
*Senior guard Andrew Funk, who was named Patriot League Men’s Basketball Scholar of the Year on Wednesday, finished with 13 points and seven assists.
SUMMARY: BUCKNEL | COLGATE

TO NO. 2 NAVY FRIENDSHIPS (20-10, 12-6 PL) 71, NO. 10 AMERICAN EAGLES (10-22, 5-13 PL) 64
Alumni Hall / Annapolis, Maryland 7 p.m. (ESPN+)

THE SCORE OF THE BOX
ANNAPOLIS, Md.Senior guard John Carter Jr. led three mids in double digits with 21 points, as the No. 2 Navy beat the No. 10 USA, 71-64 at Alumni Hall.
* Carter Jr. connected on 4 of 9 from 3-point range and knocked down four boards to lead Navy to the semifinals for the first time since 2018-19.
* Junior forward Daniel Deaver and senior guard Greg Summers finished with 12 and 11 points respectively off the bench. Deaver added eight boards and four assists, while Summers finished with seven rebounds, two steals and two blocks.
* Navy Reservists outscored the American bench, 35-6.
* Sophomore American forward Johnny O’Neil recorded a double-double with 17 points and 10 rebounds. He also recorded a pair of flights.
* Sophomore forward Matt Rogers finished with 12 points and six rebounds, while sophomore guard Colin Smalls added 11 points and four assists.
* Senior guard Stacy Beckton Jr. filled the stat sheet with 10 points, seven rebounds, four assists and two blocks.
RECAP: AMERICAN | MARINE

TO NO. 3 BOSTON UNIVERSITY TERRIERS (21-11, 11-7 PL) 76, NO. 6 LOYOLA MARYLAND GREYHOUNDS (14-16, 8-10 PL) 64
Case Gym “The Roof” / Boston, Mass. 7 p.m. (ESPN+)

THE SCORE OF THE BOX
BOSTONGraduate student guard Javante McCoy scored 26 points on 11-of-14 shooting from the floor to help No. 3 Boston defeat No. 6 Loyola Maryland, 76-64, advancing to the Patriot Championship semifinals. League.
* Patriot League Player of the Year graduate student forward Sukhmail Mathon recorded his 17th double-double of the season with 17 points and 12 rebounds. Leading hitter Walter Whyte finished with 19 points and six boards for the Terriers.
* The Terriers offense shot 63.8% (30 for 47) from the floor to go around four for the first time since winning the League title in 2019-20.
* Loyola Maryland junior guard Cam Spencer scored a season-high 28 points on 11-of-20 shooting from the field.
*Senior guard Kenneth Jones and Jaylin Andrews added 11 and 10 points respectively. Jones, the League’s assists leader, handed out five cents for the Greyhounds.
RECAP: LOYOLA MARYLAND | UNIVERSITY OF BOSTON

TO NO. 4 LEHIGH MOUNTAIN HAWKS (13-18, 10-8 PL) 91, NO. 5 DARK KNIGHTS WEST POINT ARMY (15-16, 9-9 PL) 77
Stabler Arena/Bethlehem, PA 7 p.m. (ESPN+)

THE SCORE OF THE BOX
BETHLEHEM, Pa.Senior forward Jeameril Wilson scored a career-high 23 points to lead four Mountain Hawks starters by double digits, as No. 4 Lehigh beat No. 5 Army West Point, 91-77, to advance. for the semi-final.
*Wilson scored 19 points in the first half to help the Mountain Hawks take a 42-33 lead before the break.
* Junior guard Evan Taylor scored 13 of his 20 first-half points and nine boards.
* Freshman guards Tyler Whitney-Sidney and Keith Higgins Jr scored 15 and 10 points, respectively. Whitney-Sidney added eight assists. Higgins Jr. contributed six rebounds and four assists for the Mountain Hawks.
* Sophomore guard Jalen Rucker led five Black Knights in double figures with 26 points. He also added five assists, four rebounds and two steals.
* Senior guard Josh Caldwell, the Patriot League Defensive Player of the Year, finished with 12 points, five rebounds and three steals. Junior forward Chris Mann also scored 12 points for the Black Knights. Senior guard Aaron Duhart and second-year forward Charlie Peterson each contributed 11 points.
SUMMARY: ARMY WEST POINT | THE TOP

ABOUT THE PATRIOT LEAGUE

The Patriot League is in its fourth decade of academic and athletic achievement, continually demonstrating that student-athletes can excel both academically and athletically without sacrificing high standards. The Patriot League’s athletic success is achieved as its member institutions remain committed to its founding principle of admitting and graduating student-athletes who are academically representative of their class. Participation in athletics at Patriot League institutions is considered an important part of a well-rounded education.

Jharkhand Budget: New Education Loan Scheme; Sahebganj Airport

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Announcing a series of schemes aimed at benefiting disadvantaged sections, the Jharkhand government on Thursday proposed in its budget the Guruji credit card scheme to provide an educational loan to higher education students at nominal interest. The JMM-led government of Jharkhand has unveiled a budget of Rs 1.01-lakh crore for the financial year 2022-23, with higher spending in sectors like health and infrastructure.

”For education loans, banks ask for collateral. But, poor students are usually not able to provide it. In such cases, they miss the opportunity to pursue higher education. Under Credit Card Guruji, the state government will be the guarantor for this loan,” Finance Department Principal Secretary Ajoy Kumar Singh said during a post-budget briefing here.

Mukhyamantri Sarathi Scheme has also been offered to help degree holders prepare for competitive examinations. The budget also earmarked for the Marang Gomke Jaipal Singh Munda Transnational Scholarship Program will now be extended to students from the Schedule Caste, Backward and Minority communities.

Finance Minister Rameshwar Oraon said recognizing that funds are insufficient for the whole family to reside in small houses built under Pradhan Mantri Awas Yojna (Rural), the state government plans to provide Rs 50,000 per house for the construction of an additional piece of state. funds. Under the Pradhan Mantri Awas Yojana (rural), construction works of 10.44 lakh houses have been completed so far and the remaining 5.22 lakh are expected to be completed in the next fiscal year, he said. The government also announced 100 units of free electricity for the poor and farmers to reduce the burden on their electricity bill.

Also, in an effort to encourage start-ups in the state, the finance minister proposed a seed venture capital fund in the budget. For 2022-23, a sum of Rs 50 crore has been proposed.

Furthermore, the government of Jharkhand has announced plans to establish an airport at Sahebganj to expand the air transport facilities in the Santhal region of the state. In addition, the government has also offered air ambulance service at minimum cost through wet hire. The Minister of Finance said that to provide health facilities to families from Especially Vulnerable Tribal Groups (PVTG) in rural areas, a bicycle ambulance service will also be launched. The creation of a Medico City in Ranchi is also proposed in the budget. The government has said children in Anaganwadi centers will now be provided with woolen uniforms. The state finance minister said that about 15 lakh children will benefit from this scheme.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

Mortgages drive up total household debt by 29% over the past three years

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StatsNZ’s senior director of wealth and poverty statistics, Andrew Neal, said current figures showed mortgages on family homes were a key driver of total household debt.

“Mortgage debt on the family home, which increased by 30% from 2018 to 2021, was the main reason for the increase in total household debt,” Neal said.

Other home loans, up 44%, also contributed to the increase, he said.

The largest portion of debt incurred by Kiwi households is housing debt, which accounts for 89% of total money owed (excluding trust properties).

Consumer loans, student loans and other loans and debts account for the remaining 11%.

Student loan debt remained virtually unchanged, while other loans showed a slight decrease, between the two survey periods (2015 to 2018 and 2018 to 2021), confirmed StatsNZ.

The survey of 4,400 households shows that for every $100 in total assets, Kiwi households owe just over $14 in liabilities.

Of Kiwi households that have a mortgage, half have less than $260,000 in debt on their homes – and the other half have more.

“While only 32% of households have a primary residence mortgage, for these households, median home debt rose to $260,000 in the year ending June 2021, up from $56,000 on three years,” StatsNZ said.

For Kiwis over 15, the average debt per person was $188,000, up $37,000 (24%) from the year ending June 2018.

What households are worth

The median “net worth,” defined as household assets minus their liabilities for the year ending June 2021, was $397,000.

Compared to the year ending June 2018 at $328,000, net worth is up 21%, StatsNZ said.

The increase in the value of owner-occupied dwellings (houses, apartments, etc.), other real estate and property held in family trusts were the main drivers of the increase.

For every $100 of property owned by New Zealand households (including property held in family trusts), they owe $25 in home loans, according to data from StatsNZ.

Net worth generally increases with age – Kiwis between the ages of 15 and 24 had the lowest median net worth at $3,000. People aged 65 to 74 had the highest median net worth, at $433,000.

13 Credit Union Champions Inducted into Credit Union House Hall of Leaders | 2022-03-02

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Thirteen credit union champions have been inducted into the Credit Union House Hall of Leaders in honor of their significant contributions to the credit union industry.

The ceremony took place at Credit Union House on Sunday, February 27, prior to the official kickoff of the 2022 National Association of Credit Unions Government Affairs Conference (GAC). Members of the Hall of Leaders are exceptional people who have dedicated their lives to carrying on the mission and philosophy of the credit union.

“The Credit Union House Hall of Leaders provides lasting recognition at the Capitol Hill facility to a distinguished group of individuals whose leadership serves as a role model for credit union leaders across the country,” said Brett Thompson, president of the Credit Union House and President/CEO of the Wisconsin Credit Union League. “Their names remind visitors to Credit Union House, including prominent elected officials, of the strong commitment to the values ​​upon which the credit union movement was founded.”

The 2022 inductees are:

  • Tim Baldwin, former CEO of San Antonio Citizens Federal Credit Union (Florida)
  • Ron Covey, Jr., Chairman and CEO of St. Mary’s Bank (New Hampshire)
  • Karen Fleming, CEO of HBI Credit Union (Minnesota)
  • John Graham, President and CEO of Expree Credit Union (Kentucky)
  • Jim Knoff, treasurer of the board of directors of Pima Federal Credit Union (Arizona)
  • Dave Larson, CEO of Affinity Credit Union (Minnesota)
  • Joseph McGee, President and CEO of Legacy Community Federal Credit Union (Alabama)
  • Gene Pelham, President and CEO of Rogue Credit Union (Oregon)
  • Floyd Rummel, III, CEO of Northern Hills Federal Credit Union (South Dakota)
  • David Suvall, President and CEO of Rhode Island Credit Union
  • Dennis Tanimoto, recently retired president/CEO of the Hawaii Credit Union League
  • John Winne, president and CEO of the Boston Firefighters Credit Union (Massachusetts)
  • In memory of George Shaver, former board member of the South Carolina Federal Credit Union

To learn more or see all past inductees, visit CUHouse.com

Poker Strategy: Don’t Pay Tight Players!

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Jonathan SmallDuring my time at last WSOPtime and time again I have seen people play too tight, hoping to get paid every time they got a strong hand.

While everyone should know to just get out of the way when these players decide to play for all their chips, it seemed tight players still often found a way to get some action with or near the nuts. .

The easiest way to avoid set up situations against these tight players is to never give them any action.

Suppose a player, who appears, acts and plays tight, raises to 500 of his 10,000 stacks from second position in the second tier of a big buy-in event. He has only played one hand so far, which turned out to be a pair of kings.

Everyone folds to you on the button. With almost your entire playable range besides aces and kings, you should call. Not because you’re afraid of your opponent or their hand, but because you want to play a pot in position against someone who will essentially turn their hand face up after the flop.

The flop comes KSpades Suit 7Diamond Suit 4Club Suit. Your opponent bets 600 and you call.

If your opponent bets on the turn again, unless you have AK or better, you should fold. If your opponent checks the turn, unless you know they are able to check/call with strong hands like aces and AK, you should bet the turn and river to try to make them lose hands like QQ and 9-9.

This should be your default line against weak, tight, and direct opponents. If you think your opponent would bet most tricks and a few rivers with QQ, or if you think they would never fold QQ on a KXX board, you should probably try to flop a strong hand while just spreading if you miss. .

Although this strategy seems easy enough, I consistently see players call the tight player’s raise with a hand such as KDiamond Suit JClub Suittop pair on the flop, then call down when the tight player makes three big bets!

Suppose the same action as before happens again and you have KDiamond Suit JClub Suit. Folding preflop may be better because you’ll often be outplayed, but let’s assume you hit the turn as it was played. If your opponent bets on any trick besides a king or jack, you fold quite easily. Even if you have top pair, you should realize that most tight players will have a range of exactly AA, AK, and possibly sets, making KJ an easy muck.

As the stacks get shallower and your implied odds decrease, try to fold to the initial raises of tight players. Suppose you have ASpades Suit JClub Suit on the button with 18 big blinds. If a player who hasn’t potted in an hour raises to 2.2 big blinds in early or middle position, you fold quickly even if ASpades Suit JClub Suit is normally a simple 3-bet shove against most opponents.

It’s important to always think about your opponent’s range and how your hand behaves when called. If your opponent’s opening range is the same as they plan to call your all-in with, you need a strong hand to push.

Another situation that often occurs is when you raise to two big blinds on your stack of 20 big blinds and a tight player goes all in for around 20 big blinds.

Let’s say you play 500-1,000 with an ante of 100, you have 20,000 and raise to 2,000 from middle position with ASpades Suit JClub Suit. A super tight player in the big blind goes all in for 19,000. Some players would assume that’s an easy call, but against someone who only goes all in with a range of big pairs, AK and AQ, you have a easy to fold because you only have 32% equity against this range.

All of this is to say that you should rarely give the player a tight action when you have low implied odds. If you can accurately identify your opponent’s range and realize that it has crushed your normally strong hand, you should fold.

It’s important to always compare your hand to your opponent’s range, not the range you or anyone else would play in a similar situation. As long as you know your opponent’s range is way too tight, and therefore incredibly strong, you can make excellent folds, saving countless chips in the long run.

Just be sure not to confuse a loose player with a tight player! ♠

Jonathan Little is twice WPT champion with over $7 million in live tournament winnings, bestselling author of 15 poker educational books and 2019 PGI Poker Personality of the Year. If you want to increase your poker skills and learn how to smash the games, check out his training site at PokerCoaching.com/cardplayer.

Collectius seizes a new loan portfolio in Thailand with Kiatnakin Phatra Bank

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Commenting on the transaction, Gustav A Eriksson, CEO of Collectius Group, said the company was pleased to partner with Kiatnakin Phatra Bank to strengthen its liquidity position and thereby increase operational efficiency.

Such a move allows credit to continue to flow freely, which would help the local economy on the road to recovery, he added.

“Following our acquisition of Magnate last year – one of Thailand’s leading debt servicing companies – we are confident of maintaining strong growth momentum in Thailand, where we have expanded our acquisitions from personal loans to financial leasing. and SME lending lately,” he said.

As a Singapore-based fintech pioneer in unsecured debt purchases, Collectius partnered in 2020 with IFC, a member of the World Bank Group, to launch a Distressed Asset Recovery Program (DARP) of $60 million dedicated to the acquisition and resolution of unsecured debt in Indonesia. , the Philippines, Malaysia, Thailand and Vietnam.

The DARP has enabled banks to offload $30 billion of NPLs and facilitates bond standardization for more than 18 million households and small and medium-sized businesses.

Collectius continues to strengthen its position as a preferred partner for selling consumer NPLs in Southeast Asia, using technology and digital strategies to create additional service capacity.

“In 2021, the company doubled its assets under management to $5 billion and saw 53% growth in portfolio volume and revenue respectively,” he added.

Private debt poised for continued growth after weathering pandemic

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After seeing its resilience tested like never before during two years of pandemic-related disruption, the private debt market is poised to grow as yield-hungry institutional investors expand their search for high-performing assets. .

The public health emergency lockdowns in 2020 delivered a series of hammer blows to borrowers, driving up default rates and creating new debt repayment challenges for private and public companies. Central bank stimulus programs have limited the damage and helped private debt weather the effects of the economic downturn.

Default rates on private loans in the United States peaked at 8.1% in the second quarter of 2020 before falling back to 1.04% in the fourth quarter of last year, according to the Proskauer Private Credit Default Index.

The rise in private debt is being driven by investors’ search for higher yields in a prolonged period of low interest rates and recent equity market volatility. Institutional investors are allocating their portfolios more to the asset class and turning away from more traditional assets to take advantage of the returns offered by private debt. Industry participants said they see no signs that enthusiasm for the asset class will wane this year.

“There is a growing trend to turn a small portion of your fixed income portfolio into direct lending funds,” said Jess Larsen, founder and managing director of Briarcliffe Credit Partners, a dedicated private credit placement agency, noting that investors were disappointed with the diminishing returns generated by traditional fixed income securities.

Last year was a banner year for private debt, with funds dedicated to the asset class reaching $191.2 billion, the highest annual sum since 2017, according to PitchBook data.

In a sign of investor confidence in the strategy’s continued strength, Blackstone raised $32.6 billion for its new private credit fund last year, which invests primarily in senior loans. Also last year, Ares Management raised $8 billion for an oversubscribed direct lending fund, nearly double the amount it originally targeted.

Larsen added that some of the top retirement consultants have also advised their clients to take capital from other parts of their portfolios, such as private equity and absolute return strategies, and reallocate it to debt. private.

Some large US pension funds have increased their allocation to private debt as they look for ways to boost investment returns.

Two of the largest pension funds in the United States – the nearly $482 billion Calpers and the $320 billion California State Teachers’ Retirement System – both increased their private credit allocation last year . Under a new four-year plan, Calpers has set a private debt allocation target of 5%, alongside other moves to increase its exposure to alternative assets, as the pension manager struggles to meet its investment return target of 6.8%. CalSTRS also added a 5% target allocation to private credit as part of its 13% allocation to fixed income, according to a July report from the repo manager.

Meanwhile, credit managers such as Barings BDC, Golub Capital, PGIM Private Capital and Benefit Street Partners announced a record amount of private debt creation, fueled by an acceleration in the flow of M&A deals over the past few years. last quarters.

Despite this optimism, private lenders are monitoring threats to the borrowing market, including the possibility of higher interest rates and rising inflation.

The Federal Reserve has signaled its intention to raise the federal funds rate to near zero from March as inflation climbed. Consumer prices in the United States hit a four-decade high of 7.5% in January, well above the Fed’s target.

While Russia’s invasion of Ukraine may affect how quickly the Fed raises rates, the dispute is unlikely to alter the US central bank’s overall policy approach.

As rates rise, the floating rate structure used by many private credit instruments offers investors the promise of higher returns, but it would also increase costs for borrowers.

And some credit market experts said even a series of rate hikes over the next two years would still leave prevailing rates at relatively modest levels.

“The Fed is signaling a rate hike of at least 1% this year, with analysts predicting another 1% hike in 2023,” said Randy Schwimmer, co-head of senior lending at Churchill Asset Management. “That takes us to a federal funds rate of about 2% by the end of next year, still modest from the 5.5% we had in June 2007. We still have a long way to go. to go before reaching the higher interest rate before the 2008 financial crisis.”

Data on interest coverage ratios, which measure a company’s ability to pay interest on its debt and are one of the main measures of risk in private debt markets, also suggest that borrowers are in average better able to withstand higher interest payments than in the 2007-2008 financial crisis, said Ian Fowler, co-head of Barings’ Global Private Finance group.

“Back then, your average interest rate coverage ratio was about two times, and today, just looking at our portfolio, the average interest rate coverage is three times or north of three times, that which gives companies more cushion to withstand higher interest rates,” Fowler said. .

However, it is important for borrowers to manage their exposure to higher interest rates, he said.

“Historically, it was common in loan documents for companies to fix 50% of interest rate exposure,” Fowler said. “It’s been out of the document over the last five or six years because we’ve been in a very low interest rate environment. It would be beneficial for all parties if that language finds its way back into the legal documents.”

Featured image by NiseriN/Getty Images

Doughboys Announces New Video Card for TVA Credit Union Ballpark

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JOHNSON CITY, Tennessee – TVA Credit Union Ballpark, home of the Johnson City Doughboys, will introduce a state-of-the-art LED video board this baseball season. The dashboard will be 30′ x 16′ with a 10mm color video display. Located in left field, it replaces the original scoreboard.

“The new TVA Credit Union Ballpark video board is the next phase of Boyd Sports’ stadium improvements,” said Boyd Sports Vice President Jeremy Boler. “This new video board will bring a whole new level of excitement to the fan experience and atmosphere of the game. Our Doughboys fans will really enjoy this new addition, as well as our players who will be able to enjoy a big league experience. It will also be a great asset to all of our community partners like Science Hill Baseball, Tri-City Otters and anyone who uses the TVA Credit Union ballpark.

The new videoboard will be an opportunity to present many elements to fans of the TVA Credit Union baseball stadium like never before.

“We are thrilled to have this new addition to the TVA Credit Union Ballpark,” said Johnson City Doughboys general manager Kiva Fuller. “Without a doubt, I know our team and our Doughboys fans will enjoy this new addition to the stadium, which will provide an exciting and fun experience for all.”

The Johnson City Doughboys will begin their season on June 2 inside the TVA Credit Union Ballpark against the Elizabethton River Riders. Additional Doughboys information, including their 2022 schedule, is available at jcdoughboys.com.

Build vs. Reduce: An IRA Income Strategy

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Ignite Funding: offering short-term investments for long-term investors since 2011.

We talk a lot about the need to save and invest for our financial future. The typical path most of us take to save is through our 401(k)/company retirement plans, or perhaps the old standby of contributing to an IRA. Some may even buy and maintain rental properties for income. Next, we are asked to create an elaborate estate plan, coupled with a strategy for growing and protecting the wealth that we have obtained because we know it is essential to creating a successful retirement and personal legacy.

Unfortunately, not much thought is given to creating a strategy for how to use retirement assets effectively once we reach these final stages of life. Most people will dip into their retirement accounts in large chunks. Pieces that will pay off a mortgage, pay for an extended vacation, a major purchase, or help out a family member. As the retirement account is depleted, so is the income-generating potential of that account. Creating a retirement strategy that allows you to comfortably live off the interest and dividend payments from the capital raised will ensure that these diligently accumulated assets will last a lifetime and even leave a legacy for those dear to us.

Needs of retirees

There comes a time in our lives when we look back at all we’ve done to support our families, raise our children, and hopefully save enough for our retirement years to enjoy the fruits of our labor. Life changes quite drastically when the house is empty and we no longer need to go to work. Retirees experiencing these life changes have specific needs that must be met:

  • Replace work income with fixed income investments, rather than equity investments to supplement other sources of retirement income such as Social Security and pensions.
  • Protect and preserve hard-earned capital to be able to weather the unpredictable, such as market fluctuations, inflation, changes in public policy, etc.
  • Have enough to pay for medical insurance before Medicare kicks in at age 65.
  • Have enough to pay for health care costs that increase with age, including elderly housing and caregiving.
  • To be able to enjoy the fruits of their savings.

Closing the income gap in retirement

The main problem facing retirees is how to replace the income they used to earn to live on. Sources of income from pensions, social security, disability and income properties may still not be enough. People who are of retirement age and have saved their money in a retirement account, can use that retirement account to produce an additional source of income that will last their lifetime! Imagine if you could withdraw $120,000 from a retirement account and generate $1,000 a month of income in perpetuity without spending a penny of the $120,000. Sounds too good to be true, right?

One of the ways to do this is to invest in trust deeds or secured promissory notes as they are commonly called. Trust deeds with Ignite Funding can be an effective tool for creating a retirement income strategy. They have unique product features that make them solid investments to use in a retirement income strategy:

  1. Fixed income – Trust deeds do not fluctuate in value like many securities. They produce a fixed monthly income.
  2. Physical, Tangible and Real Estate as Collateral – Real estate is a durable asset that retains its value even in the worst conditions, making capital preservation a key feature of this investment.
  3. Inflation protection – Real estate tends to appreciate at the rate of inflation over time and is directly correlated to population growth.
  4. Trust deeds will typically produce a conservative 10% to 12% annual return and are short-term investments that typically last six to 18 months.

Here is an illustration to demonstrate how $120,000 can be used to generate $1,000 per month of income in perpetuity.

Obviously, this is a very simplistic illustration. There are other variables that need to be considered. Variables such as trust deed defaults, custodial fees (IRA), interest lapse time between investments in the trust deed, and changes in interest rates offered by trust deeds . However, the basic illustration gives the retiree an extra $1,000 per month in interest income without ever reducing the value of the account! Also, if the retiree does not take the income distribution, the initial investment in 10 years: $1,000 per month x 12 = $12,000 per year. $12,000 per year x 10 years = $120,000. The retiree could double the size of the retirement account, increasing the opportunities for income generation in the later years of retirement as expenses continue to rise.

All investments involve risk

The fundamental risk associated with trust indentures is “liquidity risk”. Simply put, although these investments produce monthly income, they cannot be turned into cash on demand. Deeds of Trust are loan agreements with borrowers that pay interest only for the term of the loan and repay the principal with the sale or refinancing of the property. On rare occasions, borrowers may default on the loan agreement and interest payments stop. When this happens, Ignite Funding will act on behalf of the investor to seize the property, manage the asset until a buyer is found, then sell the property to recover the investor’s principal. This process can take some time, on average about one to three years.

Ignite Funding uses an intensive underwriting strategy that allows for diversification, whether across different borrowers, geographic locations, or types of real estate. This strategy, coupled with low investment minimums, means investors can minimize the risk of an investment failing and being seized. In our example, we used six trust deeds at $20,000 investment, instead of just one at $120,000 investment. So if one of those six were to default and be foreclosed, the investor could reduce their distribution to around $800 per month until the default is resolved.

Case study

We don’t live in a perfect world, so let’s look at two scenarios. One that reflects a retiree who, in his fear of retiring, has depleted a significant portion of his retirement account to pay off a large portion of his debt. Essentially, reducing the retirement account which is the way to earn income during retirement, without realizing the impacts that will be felt later. It happens a lot and, frankly, it’s out of fear of the unknown.

Take Ms. Allen as an example, she initially transferred over $200,000 into a self-directed IRA to invest in trust deeds as she sought to diversify into alternative investment and tax-free income in her Roth IRA. In the first scenario, when she retired, she, like so many others, paid for her house by taking a distribution of $120,000.

All looks good on the surface of this illustration as the value of his IRA account has increased since 2007. But the big question is whether everything will look like this in the future or will the distribution of $120,000 for paying off his house is going to have a future impact on the value of his IRA account that can’t be predicted?

We’ll take a look…

The illustration is starting to change and not in a good way. The value of the account decreases as the distributions become larger than the income generated. It’s no secret that as we age, the costs of care rise. Over time, it will deplete the value of the IRA account, eliminating the ability to generate income in perpetuity. Everything looks good on the surface of this illustration because the value of his IRA account has increased since 2007.

What if she didn’t pay for the house? Let’s take a look at scenario two…

What a difference a decision could make. Not only did the value of the IRA account increase by more than $250,000, but she could increase her income by $20,000 a year if she wanted to and still hadn’t touched the original IRA amount from 2007. .

Conclusion

The decisions we make today could have a lasting effect on our future. We can’t stress enough the importance of taking the time to create an “withdrawal” strategy that will use retirement assets more effectively. Make the most of the income-generating potential of your retirement account to ensure that these diligently accumulated assets will not only last a lifetime, but also leave a legacy for those dear to us.

If you’re ready to add trust investments with Ignite Funding to your retirement strategy, you can schedule a consultation at your convenience or text the word “Investments” to 844-552-7022.

Ignite Financing, LLC | 2140 E. Pebble Road, Suite 160, Las Vegas, NV 89123 | Phone. 702.739.9053 | T 877.739.9094 | F 702.922.6700 | NVMBL #311 | AZ CMB-0932150 | Money invested through a mortgage broker is not guaranteed to earn interest and is not insured. Before investing, investors should receive the applicable disclosure documents.

Members of the Las Vegas Review-Journal editorial and press team were not involved in the creation of this content.

Good Works: Daryl Margeris of Consumer Credit Counseling Service Focused on Education and Relationships | Local News

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Daryl Mangeris is the executive director of the Consumer Credit Counseling Service.

The consumer credit counseling service helps individuals and families achieve financial stability to improve their quality of life. Financial stress can make people feel lonely, but through education, counseling and debt management services, the agency accompanies people on the path to financial freedom.

Who do you serve?Our nonprofit organization serves everyone, regardless of income level or economic background. Most of the services we provide are free, made possible through the generosity of foundations such as the La Crosse Community Foundation, Centraide, grants and private donations.

Alex and Lora run the La Crosse office. They are certified and seasoned professionals who understand the stigma that often accompanies financial problems. Their extensive knowledge of budget and credit, housing and student loans provides those seeking assistance with options that will benefit individuals and families alike. They can be reached by dialing 800-350-CCCS (2227).

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How is the work you do different from what you expected?Although my role as CEO focuses primarily on the administrative functions of the agency, I relish the opportunity to teach, whether in person or in a virtual format. I didn’t expect to spend so much time in the office as I love building relationships, sharing our mission and growing our footprint, but it’s an important function nonetheless. Since my office is located at our head office in Sheboygan, I don’t travel as much as I would like to our office in La Crosse.

What is your dream vacation?

Before my first child was born in 2000, I loved riding dirt bikes. There was something special about opening up a trail or hearing the whine of the bike behind me. Before that, I owned a street bike that I sold to buy an engagement ring for my future wife. I recently purchased a dual-sport bike that I can ride on the road as well as on the trails. As it stands, riding this new bike will definitely be part of my dream vacation.

What would you like more people to understand about your organization or the people you serve?

I want more people to understand that we are a non-profit organization with a passion for helping individuals and families become financially stable. We do not judge anyone or their particular situation. Taking the first step towards financial wellness starts with contacting us and making an appointment or attending one of our financial education sessions. We realize that this first step can be difficult.

Bill approved to offer hazard pay to Idaho firefighters

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If it becomes law, firefighters will receive risk differential compensation equal to 25% of their hourly rate when working on an uncontrolled fire.

IDAHO, United States — The Idaho House on Friday approved a bill offering hazard pay to Idaho firefighters by a 49-to-19 margin, as reported by the Bonner County Daily Bee.

If the legislation becomes law, Idaho wildland firefighters will receive hazard differential compensation equal to 25% of their hourly rate when working on an uncontrolled fire or an active fire helideck.

“What it does is it recognizes that fighting wildfires is a very dangerous profession,” said the Chief of Fire Management for the Department of Lands (IDL) in Coeur d’Alene, Josh Harvey. “There are all kinds of things in that wildfire environment that can kill a person or seriously injure them.”

Harvey, born and raised in Idaho, has been a wildland firefighter since graduating from high school. He has spent a lot of time working side by side with interagency partners. He was also in charge of other federal or state firefighters who, while doing the same job, were paid a higher rate because they received hazard pay.

Washington Department of Natural Resources wildland firefighters receive a starting salary of $2,892 a month, or about $18.75 an hour. They receive an additional $2 per hour for emergency response duties.

Idaho IDL Wildland Firefighters start at $12.55 per hour. Their hourly rate is lower than that of some fast food workers.

Firefighters work a basic 40-hour week, but must be available to respond to a call anytime, any day of the week during fire danger season. They can also be sent to help in other states, away for more than two weeks at a time.

Upon reaching a dangerous scene, a firefighter may work 24 hours or more at a stretch if there is no one to relieve them.

Harvey said he had been part of several medical evacuation situations.

“They can be life threatening,” Harvey said. “Injuries themselves have long-term impacts.”

Harvey said he had friends who suffered significant spinal damage from falling branches. Others died on the job.

“I think this hazard pay is really a recognition of the men and women who are putting themselves in a position to do a job for the greater good of the public,” he said.

For the agency, Harvey said offering hazard pay is key to retaining some of the employees who are attracted to other agencies offering a higher rate of pay.

Historically, Harvey said, where they’ve seen the most difficulty retaining employees is in leadership positions. After just two seasons, 40% of IDL wildland firefighters are not returning to work for the agency.

“We put the initial investment in their training and gave them the first two years of experience and then they leave,” Harvey said. “You kind of have to go where the money is.”

Retaining experienced firefighters will also create a safer environment for everyone, as experienced firefighters have a greater incentive to stay. They will also be on site to ensure the safety of young firefighters by teaching them good habits and guiding them.

“I think the long-term investment in our firefighters is really going to pay off in our ability to provide quality fire protection to the ratepayers of Idaho,” Harvey said.

In a recent survey, 60% of IDL wildland firefighters who indicated they would not return to work for the agency next season said that if hazard pay was provided, they would stay with IDL.

Scott Phillips, policy and communications manager for IDL, estimated that between about $330,000 and $390,000 in hazard pay could be paid annually from the general fund.

Phillips said there are no additional fees or taxes being created. He said the department recognizes that the state has a budget and needs to be careful about how taxpayers’ money is spent, placing some restrictions on how hazard pay is paid to control costs.

According to the bill sponsored by Rep. Sage Dixon, R-Ponderay, firefighters would only be eligible for hazard pay for the time they are actually on that incident. This differs from federal policy: if an individual walks in a line of fire for even five minutes, he is entitled to hazard pay for the whole day.

After the approval of the House, the bill is now submitted to the Senate for consideration.

Only two Kootenai County representatives supported the bill: Coeur d’Alene Republicans Jim Addis and Paul Amador.

Local lawmakers who voted against were Vito Barbieri, R-Dalton Gardens; Ron Mendive, R-Coeur d’Alene; Doug Okuniewicz, R-Hayden; Heather Scott, R-Blanchard; and Tony Wisniewski, R-Post Falls.

HB588 is a companion bill to another bill being considered in the current session. IDL is working with the Idaho Joint Finance-Appropriations Committee to create a way to permanently raise firefighter wages to $15 an hour.

IDL is already raising the starting wage to $15 an hour this season, using funds from its existing budget, but the base budget is not enough to support the increased hourly rate. The 2023 budget request includes a decision to make the increase permanent.

The Bonner County Daily Bee is a partner of KREM 2 News. For more news from our partner, Click here.

The cost of living is skyrocketing – Lake Cowichan Gazette

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I remember a CBC report a few years ago where a reporter and a cameraman walked into a grocery store in the Yukon and started comparing prices from stores much further south in Canada.

I was struck by how much more people in the territory were paying for their basic groceries than we were, with prices typically 15-50% higher, depending on the article, than what we were paying at the time. .

I wondered how the people of the Yukon managed to survive when they had to pay such inflated prices for their food, on top of all their other expenses.

But as I was browsing my local supermarket last weekend, I began to realize that food prices in the area had reached or were reaching the same levels as at this grocery store in the Yukon.

(I can only imagine what those poor shoppers are now paying for their food if our prices have skyrocketed so much.)

Economists will point to a number of reasons why the cost of feeding yourself and your family is rising so much, including weather events like frosts and floods destroying crops, increased transport costs and issues related to the ongoing COVID-19 pandemic.

But knowing the underlying reasons does little to alleviate the financial pressures that many of us face as a result.

Then, when we head to the gas station to buy gas to take our very expensive groceries home, we are again hit in the wallet with gas prices that are now the most expensive I have ever seen. have ever seen.

Just last week, gas prices, which were already ridiculously high and averaged around $1.61 per litre, shot up again to $1.71 per liter in the Valley and industry experts say it is expected to climb much higher in the near future.

It’s getting a bit stressful for a lot of people, myself included, whose salaries just don’t keep up with the cost of living which is exploding into the stratosphere.

The purchasing power of many Canadians has drastically diminished in just a few years, and their future does not look as bright as they had imagined.

I’ve spoken to people who hoped to retire in the next decade, but their dreams of finally being able to relax and unwind in their golden years fade as the harsh realities of their new economic circumstances in these troubled times become clear. for them.

Many have told me that they have become resigned to the fact that they will likely die at their desks at some point in their old age, just trying to keep up with their ever-increasing bills.

A poll conducted by life insurance company PolicyMe last November determined that two-thirds of Canadians consider higher inflation rates and the rising cost of living to be their biggest financial stressor.

Following inflation, the study found that top financial stressors include saving for retirement [30 per cent]inability to absorb unexpected expenses [25 per cent]unpredictability of investments [25 per,cent]inability to save as much as before the pandemic [22 per cent]and high-interest consumer debt [17 per cent].

Andrew Ostro, CEO of PolicyMe, said at the start of 2021 that many people were optimistic about their financial future.

“But now Canadians are worried about the highest rate of inflation we’ve seen in a long time,” he said.

“Whether it’s dealing with rising prices for food, fuel or housing, people are stressed by the rising cost of living; and parents feel it the most.

These are indeed troubling times.


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2022 PenFed Credit Union Patriot League Men’s Basketball Championship Field Game (2.26.22)

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BETHLEHEM, Pa. – The Patriot League Men’s Basketball regular season ended Saturday, setting the 2022 PenFed Credit Union Patriot League Men’s Basketball Championship standings. First-round action begins Tuesday, March 1.

Colgate clinched the No. 1 championship seed for the third time in the past four seasons. The Raiders enter the tournament on a 12-game winning streak, among the longest winning streaks in the NCAA DI this season. They will host the winner of No. 9 Bucknell in the first-round match at No. 8 Lafayette in the quarter-finals.

Navy has claimed the No. 2 seed and will await the winner of the No. 10 American at No. 7 Holy Cross. No. 3 Boston University will host No. 6 Loyola Maryland and No. 4 Lehigh will host No. 5 Army West Point in the quarterfinal round on Thursday, March 3. All four games in the quarter-final round will be broadcast live on ESPN+.

CLICK HERE for more information on the 2022 PenFed Credit Union Patriot League Men’s Basketball Championship.













DATED MEN’S BASKETBALL CHAMPIONSHIP | ROUND | BLANKET TIME

(every hour ET)
Tuesday, March 1 No. 10 American at No. 7 Holy Cross | First round | ESPN+ 7 p.m.
Tuesday, March 1 No. 9 Bucknell at No. 8 Lafayette | First round | ESPN+ 7 p.m.
Thursday March 3 9/8 winner at No. 1 Colgate | Quarter-finals | ESPN+ 7 p.m.
Thursday March 3 Winner of 10/7 at No. 2 Navy | Quarter-finals | ESPN+ 7 p.m.
Thursday March 3 No. 6 Loyola Maryland at No. 3 Boston University | Quarter-finals | ESPN+ 7 p.m.
Thursday March 3 No. 5 Army West Point to No. 4 Lehigh | Quarter-finals | ESPN+ 7 p.m.
Sunday March 6 Winner of 9/8/1 vs. Winner of 5/4 | Semi-finals | CBSSN 2 p.m.
Sunday March 6 Winner of 10/7/2 vs. Winner of 6/3 | Semi-finals | CBSSN 4 p.m.
Wednesday March 9 2022 PenFed Credit Union Championship Game | CBSSN 7:30 p.m.

AT BUCKNELL BISON (8-22, 5-13 PL) 89, BOSTON UNIVERSITY TERRIERS (20-11, 11-7 PL) 78
Sojka Pavilion/Lewisburg, PA 2 p.m. (ESPN+)

THE SCORE OF THE BOX
LEWISBURG, Pennsylvania – Junior guard Xander Rice led five Bison in double figures with 19 points as Bucknell beat Boston University 89-78 to share the season series with the Terriers and earn the No. 9 seed in the Patriot Championship League.
* Senior guard Andrew Funk finished with 15 points, five rebounds and five assists, while first-year guard Elvin Edmonds IV and second-year center Andre Screen added 13 and 10 points respectively for the Bison.
*Junior center Alex Timmerman contributed 13 points off the bench to help the Bison reserves beat the Terriers bench 27-12.
* Graduate student guard Javante McCoy led the Terriers with 23 points on 10-of-20 shooting from the floor. He also added four rebounds and three assists.
* Graduate student forward Sukhmail Mathon recorded his 15th double-double of the season with 17 points and 13 rebounds, while senior forward Walter Whyte added 13 points and six rebounds.
RECAPS: UNIVERSITY OF BOSTON | BUCKNEL

AT AMERICAN EAGLES (9-13, 5-13 PL) 65, LOYOLA MARYLAND GREYHOUNDS (14-15, 8-10 PL) 55
Bender Arena/Washington, DC 2 p.m. (ESPN+)

THE SCORE OF THE BOX
WASHINGTON –Fifth-year guard Stacy Beckton Jr. scored a game-high 22 points to lead the Americans to a 65-55 victory over Loyola Maryland at Bender Arena on Saturday afternoon.
* Beckton Jr. added six boards, two assists, two steals and two blocked shots.
* Sophomore forward Johnny O’Neil added 17 points on 6-of-10 shooting from the field and 3-of-5 from long range. He also totaled eight tips, three blocks, two assists and two steals.
* Sophomore goaltender Colin Smalls and sophomore forward Matt Rogers each had 10 points for the American.
*The Eagles retired in the first half, taking a 35-14 halftime lead.
* Junior guard Cam Spencer scored a team-high 21, while senior guard Kenneth Jones added 13 for the Greyhounds.
*Junior forward Golden Dike had nine points and 10 rebounds. He also blocked a pair of shots for Loyola Maryland.
RECAP: LOYOLA MARYLAND | AMERICAN

LEHIGH MOUNTAIN HAWKS (12-18, 10-8, PL) 78, AT LAFAYETTE LEOPARDS (10-19, 7-11 PL) 58
Kirby Sports Center/Easton, PA 2 p.m. (ESPN+)

THE SCORE OF THE BOX
EASTON, Pa. –Junior forward Evan Taylor finished with 23 points on 10-of-11 shooting and pulled down nine rebounds to lead Lehigh to a 78-58 victory over Lafayette, clinching the No. 4 seed in the Patriot League championship.
* Senior center Nic Lynch recorded a double-double with 14 points and 11 rebounds, while senior forward Jeameril Wilson and freshman guard Tyler Whitney-Sidney had nine points apiece.
*Senior guard Tyrone Perry had eight points and four assists, while junior forward Leo O’Boyle finished with a team-high nine points for the Leopards.
* Lafayette junior center Neal Quinn added eight points, six boards and two blocks.
*Saturday’s game marked the final regular-season home game in legendary Lafayette men’s basketball head coach Fran O’Hanlon’s career. O’Hanlon was celebrated at a pre-game ceremony where February 26, 2022 was recognized as Fran O’Hanlon Day in Easton, Pennsylvania.
RECAP: LEHIGH | LAFAYETTE

AT COLGATE RAIDERS (20-11, 16-2 PL) 74, NAVY FRIENDS (19-10, 12-6 PL) 69
Cotterell Court/Hamilton, NY 2 p.m. (CBSSN)

THE SCORE OF THE BOX
HAMILTON, NY. –Senior guard Tucker Richardson scored a game-high 23 points to go along with nine rebounds, five assists and two steals to lead Colgate to a 74-69 win over Navy in front of a national television audience on CBS Sports Network.
* Senior guard Nelly Cummings added 15 points to help the Raiders finish the regular season on a 12-game winning streak.
* Colgate has completed 41.4% (12 for 29) of his 3-point attempts, with five players connected on two or more shots from long range.
* Navy senior guard John Carter Jr. scored a team-high 17 points and added six rebounds and three assists.
* Senior forward Richard Njoku added 12 points, seven rebounds and two blocks, while junior guard Sean Yoder and sophomore guard Austin Inge finished with 11 and 10 points, respectively.
RECAPS: NAVY | COLGATE

ARMY WEST POINT BLACK KNIGHTS (15-15, 9-9 PL) 66, AT HOLY CROSS CRUSADERS (9-21, 7-11 PL) 58
Hart Center/Worcester, Mass. 2 p.m. (ESPN+)

THE SCORE OF THE BOX
WORCESTER, Mass. – Sophomore guard Jalen Rucker scored a game-high 23 points and pulled out seven rebounds to lead Army West Point to a 66-58 victory over Holy Cross on Saturday afternoon to split the season series. The Black Knights have captured the No. 5 seed in the Patriot League Championship.
*Senior guard Josh Caldwell finished with 12 points and seven boards, while sophomore forward Charlie Peterson added 12 points to help the Black Knights win the final two games of the regular season.
* Holy Cross senior forward Gerrale Gates recorded his 13th double-double of the season with 18 points and 11 rebounds.
* Sophomore forward Judson Martindale came off the bench to score 13 points and grab six rebounds, while freshman guard Kyrell Luc finished with 11 points for the Crusaders.
RECAP: ARMY WEST POINT | THE HOLY CROSS

2021-22 Patriot League Final Men’s Basketball Standings (as of 02/26/22)














school Patriot League PCT. Globally PCT.
Colgate 16-2 .889 20-11 .645
Marine 12-6 .667 19-10 .655
Boston University 11-7 .611 20-11 .645
Lehigh 10-8 .556 12-18 .400
Army West Point 9-9 .500 15-15 .500
LoyolaMaryland 8-10 .444 14-15 .483
the holy cross 7-11 .389 9-21 .300
Lafayette 7-11 .389 10-19 .345
Bucknell 5-13 .278 8-22 .267
American 5-13 .278 9-21 .300

Patriot League Composite Men’s Basketball Schedule

ABOUT THE PATRIOT LEAGUE

The Patriot League is in its fourth decade of academic and athletic achievement, continually demonstrating that student-athletes can excel both academically and athletically without sacrificing high standards. The Patriot League’s athletic success is achieved as its member institutions remain committed to its founding principle of admitting and graduating student-athletes who are academically representative of their class. Participation in athletics at Patriot League institutions is considered an important part of a well-rounded education.

7 things I do now to prepare for a successful retirement

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These days, as my retirement time draws closer and closer, I have a new mantra. With everything from my money-saving strategy to my work plans, I’m constantly reminded: Finish strong!

I’ll be the first to admit that I didn’t always heed the advice of financial experts in my youth. From following my heart in a career choice that I was told early on would be more exciting than lucrative, to my habit in the early 2000s of refinancing my mortgage whenever I needed help. extra money, I’ve often done exactly what the financial advisers say you shouldn’t do.

I can’t say that I regret anything. My career as a journalist has been fascinating and fulfilling, and these home refinance decisions have helped me live a better life, raising my son as a single mother from an early age, forging a strong bond with him during regular trips to discover the United States. , Mexico and Canada, and helping him through his university years.

Yet, over the past 10 or so years, I realized I had to get serious. I adopted the attitude that there is still hope for us latecomers in retirement planning.

With a bit of catching up in mind, here are seven things I’m doing now to prepare for a successful retirement that will include lots of travel.

1. Keep an eye on my social security account

For years, I practically ignored the letters I received each year from the Social Security Administration. But a few years ago, I decided to take a closer look online. I found it easy to create a secure account (explained in this PDF).

Once you have an account, the SocialSecurity.gov website offers a wealth of information about your expected benefits, lifetime income history, and your full retirement age (FRA). It also includes a handy sliding scale that lets you determine what your advantage would be now, a year from now, or at any random date in the future. I found it helpful in letting me know what to expect and how to adjust my 401K and retirement savings schedule accordingly.

The author near Sedona, Arizona (Photo credit: Cindy Barks)

2. Accept freelance writing assignments

As a news enthusiast and career journalist, I have long been immersed in politics, government, and world news. I love it. But about 7 years ago I decided I needed another writing tool. Because I have always traveled at every opportunity, I decided to start a travel blog. To tie in with my location in Arizona, as well as my interest in places near and far, I called it NearandFarAZ.

It’s a labor of love, but I soon realized that I didn’t like trying to “monetize” my blog. I liked the idea of ​​freelance writing and soon landed an assignment with a trail magazine on a historic trail in my community, which led to a variety of wonderful writing opportunities focused on hike over the years. A few other freelance assignments also came up, then in 2019 I started writing articles and taking pictures for The journey awaits you and have since written over 150 articles.

Besides being one of the most enjoyable jobs I’ve ever had, freelance writing has given me an extra source of income while I plan my retirement strategy. There are many other side gig opportunities (educating online, selling online, or renting a spare room or second home) that would serve the same purpose. I wish I had started earlier!

Pro Tip: If you love your side job, like me, it could be a great source of extra income when you retire.

3. Pay off my mortgage sooner

I was aware of the financial advice that suggests that if you have a low interest rate on your mortgage, which I did, you might want to prioritize growing your savings before paying off your mortgage. For various reasons, I gave up on this strategy a few years ago and started putting all the extra money I had into my mortgage.

At the start of 2021, my mortgage was paid off about 4 years ahead of schedule, and I have to say it gave me a huge sense of freedom. Of course, everyone’s situation is different, but for me, the morale boost of having my house paid off was worth going against conventional wisdom.

4. Take a free course on retirement strategies

I recently participated in a free two-night course on retirement planning that was offered at my local public library. A quick internet search will reveal many opportunities for in-person or online courses. The course I took was sponsored by a nonprofit organization and provided information on tax trends that could affect Social Security benefits, as well as financial pitfalls to avoid during retirement.

The course also came with a chance to meet one-on-one with the fiduciary financial advisor who led the class. The meeting turned out to be a very useful assessment of my finances and retirement prospects. I’ve since made a few adjustments to my savings based on that advice, like switching to a Roth IRA rather than the tax-deferred programs I was focusing on.

The author using his points while traveling in the Czech Republic
The author using his points during a trip to the Czech Republic (Photo credit: Cindy Barks)

5. Save credit card points for future trips

I have accumulated and used tens of thousands of credit card points over the years and have been able to cover the majority of the costs for major trips like the one I took to the Czech Republic in 2018. Recently, however, I focused on accumulation rather than use. My theory is that during my working years, I have a little more income to pay for plane tickets and hotel rooms.

I’ve accepted several new airline and hotel credit cards over the past few years, and have been happy to see my point balances add up. I hope to have plenty of points and miles to use in my early years of retirement.

Pro tips: It is important to remember that this strategy involves some risk, as some experts predict that the value of credit card points will decrease in the coming years. Some have already done so, and it’s worth keeping an eye out for pending changes. Credit card holders should also check if and when their points expire. In addition, it goes without saying that you should pay your balance regularly in order to take full advantage of the advantages of credit card points.

The coastline of Portland, Maine
Portland, Maine (Photo credit: Cindy Barks)

6. Search for possible retreat places

While I don’t tend to go to places to check out their retirement potential, I often arrive at a destination and think, “This would be a great place to hang out.

A few of my favorite places in the western United States are the city of Paso Robles on the central California coast, the Oregon coast, and my all-time favorite city, San Francisco. On the East Coast, I loved Portland, Maine, and Virginia Beach, Virginia. I already live in one of the most popular retirement destinations in the country, so I could always choose to stay in Arizona as well.

I realize that many things will go into this decision, including the cost of living, which tends to be higher near the ocean and in larger cities, and the location of my family members. Still, having spent my whole life in landlocked places, it would be wonderful to be a short drive from the beach!

The Open Road and the Nevada Mountains
Photo credit: Cindy Barks

7. Keep traveling because you never know

For me, one of the great benefits of the COVID-19 pandemic has been to take advantage of travel opportunities when they arise, because you never know when the scenario will change.

Although the pandemic forced me to cancel two dream trips to Sicily and Florida early on, I have since been able to take trips to Nevada, Virginia Beach, Vancouver and the central California coast over the past last 2 years. Each of these trips occurred during a positive window of the pandemic, followed by periods when travel became more difficult again.

So my advice is to keep traveling when you can and don’t put off your travels until you retire. Although I hope to travel Continued after retirement, I just don’t see the logic in postponing travel altogether.

Overall, while I know it would have been better to start planning my retirement sooner, I remain hopeful that it is possible to recover from the early missteps and shape a successful retirement by taking more steps. late in life for finish strong.

Fossil fuel financing by world’s biggest banks revealed by new study

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A study on the financing of fossil fuels entitled “If money talks, what is the banking sector saying about climate change?” was published in the journal Climate policy.

The top ten banks are the largest funders of fossil fuel organizations. Although they discuss climate change more generally, they have not taken any definitive steps to reduce their impact on it. A total of $425.92 billion was spent in 2020 alone by banks such as JP Morgan Chase (US), Barclays (UK), Toronto Dominion Bank (Canada) and Mitsubishi UFJ Financial Group ( Japan) for fossil fuel financing.

If one must “follow the money” to find the culprits of a crime, what does this mean for the vast sums that the financial sector invests in fossil fuels?“, asks the author, associate professor Asa Lofgren, from the economics department in Gothenburg.

The study examines the annual reports covering the period 2015 to 2019 of the ten largest banks in the world and found that the majority of their efforts related to climate change focus on green technologies for their institutions, regardless of how the financing of their clients influences climate change. The largest fossil fuel funder is JP Morgan Chase with $64.93 billion, followed by Citigroup with $52.41 billion.

In the annual reviews we have studied, the climate change efforts of these large companies tend to relate to the direct effect of their work, such as reducing the electricity consumption of their buildings. There is little or no recognition of the indirect, but significant, effect of their customers’ emissions“, continued Lofgren.

You can read more of the study here.

Court ruling on NCSLT could hurt US consumer ABS and other resale financial products

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A federal district court has ruled that a lawsuit by the Consumer Financial Protection Bureau (CFPB) against more than a dozen student loan ABS trusts can go forward, saying the trusts are ” persons covered” and subject to the application of the agency.

The district court’s decision, released Dec. 13, was certified for an interlocutory appeal (an appeal in the middle of a case) this month, in which it acknowledged there could be disagreement over what constitute “covered persons”.

At issue, the CFPB alleges that the National Collegiate Student Loan Trust (NCSLT) engaged in deceptive student loan debt collection practices and unfair legal practices when servicing and collecting student loans that served as guarantee on transactions, thereby violating the Consumer Financial Protection Act of 2010. The CFPB sued 15 trusts in the NCSLT program on these grounds four and a half years ago, affecting approximately $12 billion in assets ABS of student loans.

What are “covered persons”? »

NCSLT “entered into debt collection and loan servicing when it contracted with managers and sub-departments to collect its debt and service its loans,” according to the decision.

The CFPB defines “Covered Persons” as “any person who undertakes to offer or provide a consumer financial product or service” or as any Affiliate of such person if the Affiliate acts as a service provider to person.

The CFPB said the misconduct resulted from actions taken by NCSLT contractors and repairers when collecting debts – not any action taken by the trusts themselves. Despite the distinction, the CFPB named the NCSLTs as defendants in the lawsuit.

In its ruling, the court said “the definition is broad enough to encompass actions taken on behalf of one person by another, at least where that action is at the core of their business.”

“This is a case we’ve been following for some time and it’s certainly the latest twist in the saga,” said Kristi Leo, president of the Structured Finance Association, the ABS trade body. “(With the potential for) widespread market implications.”

It starts with student loans

The effect of the CFPB lawsuit and court ruling has rippled through the industry.

“There is no reason to think that the CFPB will limit its view on this issue to student loans, and it could apply to other consumer financial products,” said Steven Kaplan, partner at Mayer Brown. , an international law firm, in an earlier conference call. this month dealing with the implications of the case.

NCSLT has over 800,000 private student loans worth $12 billion through 15 different Delaware statutory trusts established between 2001 and 2007.

ABS industry professionals are unsure how the court can consider NCSLT programs as “covered persons” because the trusts have no employees, no internal management and they are the managers and sub-departments who receive student loans. They rely on agreements with several third-party service providers to administer each trust.

“If there is someone who has broken the law, you sue that party,” said the SFA’s Leo. “You’re not going after the ‘Trust’.”

Judge Stephanos Bibas wrote this in his memorandum of opinion:

“If a dairy farmer contracts with a farmhand to milk his cows and never does that work himself, he is still employed in or in the business of milking cows,” he wrote in his post. decision.

Ten days after the Dec. 13 ruling, NCSLT and other interested parties requested an interlocutory appeal of the court order. NCSLT representatives argued that the platform does not act as one of the “covered persons” because trusts are “passive securitization vehicles that take no action related to servicing student loans or collecting debts”.

On February 11, the district court granted NCSLT’s request, finding that there may be disagreement over the interpretation of “covered persons.” On February 22, the Trusts asked the Court of Appeal to hear the appeal. The CFPB should respond before the court decides whether or not to hear the appeal.

Will other ABS get involved?

The NCSLT argues that the CFPB has no authority to bring an action under the CFPA.

As a precaution during this time, parties should ensure that they do not engage in activity or include language that triggers potential risks under applicable law, Kaplan said. They shouldn’t appoint a repairman as their agent, Kaplan said. They should not engage in any activity that directly gives rise to liability under applicable financial consumer protection law, Kaplan said.

Additionally, state licensing requirements can be triggered due to holding legal title to the underlying asset, Kaplan said.

Fitch Ratings maintains a less than desirable cap of “BBBsf” for NCSLT transactions and Rating Watch Negative (RNW) on all tranches rated “B-sf” or higher.

“Fitch will resolve the RWN as soon as further clarity becomes available on the outcome of the ongoing litigation involving the issuers and parties to the transaction,” said Pasquale Giordano, senior director at Fitch Ratings.

Fitch said that in its view, unexpected financial losses on its rated securities could materially affect the performance of the transaction and increase rating volatility, primarily because such losses and legal costs to defend related claims do not are not predictable.

“Could the cash flows actually be taken out of the trust? is clearly one of those things that people assess and that’s if trusts are found liable in the first place,” Leo said.

The situation raises other important questions, according to the NCSLT. Does the CFPB have the authority to prosecute NCSLTs under the CFPA? Even if it had the right to sue, the CFPB improperly filed its lawsuit because at the time of filing it was constitutionally unstable, the NCSLT argues.

ORNL FCU leases space to United Way of AC

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ORNL Federal Credit Union officials recently announced that United Way of Anderson County will lease office space in their building on Broadway Avenue in Oak Ridge.

The ORNL FCU will also endorse a number of improvements to make the space more conducive to the needs of the organization, according to a press release.

The mural on the ORNL Federal Credit Union building at Broadway Avenue.

With its current office located at 728 Emory Valley Road in Oak Ridge, United Way will join the Anderson County Family Justice Center in occupying the building at 301 Broadway Avenue. The Family Justice Center leases approximately 50% of the building and the remaining space is currently vacant. When renovations to the vacant space are complete, Centraide will occupy the remaining 50%. Construction is expected to begin in mid-March, with plans for UWAC to be occupied by the middle of the year.

UWAC provides support and services to any program aimed at advancing the common good with emphasis on youth development, self-sufficiency, health and services for the elderly, according to the press release from the UWAC. ‘ORNL FCU. The organization funds more than 40 local nonprofits, including the Boys & Girls Club, ASAP of Anderson, Children’s Museum of Oak Ridge, Emory Valley Center, Girls Inc., Helen Ross McNabb Center, and YWCA. In addition to funding, United Way provides training and technical assistance to any nonprofit in the area.

United Way is always looking for new ways to seamlessly provide direct assistance to clients in need. This support includes case management, referrals and basic needs.

Being co-located with the Family Justice Center and several other partners will create a comprehensive service center, the statement said. The availability of conference space will also allow for larger training sessions for the community and agencies, as well as the realization of United Way’s long-term dream of hosting resource days to provide large-scale assistance to individuals. from the community. This could be resume writing, interview training and clothing support for those re-entering the workforce, a car repair day or a day to provide full support through resource days.

“ORNL Federal Credit Union has been a long-time partner and strong supporter of the United Way mission. This is just another way they help make our mission possible. This space will be a huge improvement to the day-to-day operations of our organization, as well as the realization of several dreams,” said Naomi Asher, Executive Director of United Way, in the statement.

The Caisse Populaire donates approximately 3,300 square feet of space to Centraide over an agreed period of time, after which ownership will be transferred to the organization. Since the space is organized as a commercial condominium association, UWAC will join the other two entities (the Family Justice Center and the ORNL FCU) as landowners in the Broadway Building once their agreed tenure is completed.

“We felt that the best use of the remaining space at 301 Broadway would be to have a tenant with a complementary mission at the Family Justice Center,” said Colin Anderson, president and CEO of ORNL FCU, in the press release. “Because of the location of this building, we believe these important non-profit organizations add value to the community through their presence.

The 301 portion of the building faces Broadway Avenue, while 303 is the lower portion of the building, facing West Tennessee Avenue. The Credit Union facilities department currently operates out of the 303 Broadway space. The ORNL FCU has used the building as office space for various departments over the years. When Credit Union’s headquarters was renovated and its Northshore hub was completed in 2017, employees at 301/303 Broadway were moved and the space was used for storage.

MLK’s Atlanta borough is trying a new way to fight poverty: direct cash payments

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In Atlanta’s Old Fourth neighborhood, a $13 million initiative is launching this spring to give money directly to people experiencing poverty. It’s an idea called guaranteed income.

Pilot projects are already underway across the country, but it’s no coincidence that this trial is taking place in the former Fourth Ward, where Dr. Martin Luther King Jr. was born, preached and is now buried.

“He knew our civil rights were hollow if we didn’t also have economic rights to back them up, so among the reforms he advocated was a guaranteed income,” said Hope Wollensack, executive director of Georgia Resilience. and Opportunity Fund, the group helping to run the “In Her Hands” guaranteed income pilot project.

The pilot project will provide hundreds of low-income black women in the King neighborhood with cash payments that they can use as they wish — an average of $850 per month for two years. The organization says 38% of black women in the Old Fourth Ward live in poverty, which is significantly higher than other demographic groups.

Guaranteed income is a departure from traditional anti-poverty programs such as food stamps. Wollensack says cash allows people to pay off debts, afford a reliable car or regular childcare.

“Those with the lowest incomes often make some of the best financial decisions and that component of choice and agency really reflects how we trust people to be experts in their own lives, and our current programs don’t. don’t,” she said.

The pilot will eventually expand to other communities in metro Atlanta and rural Georgia. Organizers hope to prove that programs like this will help lift people out of poverty.

Michelle Lockhart is convinced it will.

Dr. Martin Luther King Jr. promoted guaranteed income towards the end of his life. An Atlanta pilot will take off this spring in the neighborhood where he was born and where he is now buried. (Sam Gringlas/WABE)

She has lived in the Old Fourth Ward most of her life. There were times when extra money would have made a huge difference, like when she lost her job and couldn’t afford the car.

“The car people kept calling me, ‘We need payment. We need payment,'” Lockhart said. “And I was like, ‘I’m trying to figure it out. things.’ And it stressed me out so much that I remember shaking.



Atlanta resident Michelle Lockhart says cash payments will help people struggling to pay off debt and get reliable transportation or childcare. (Courtesy of Michelle Lockhart)

Lockhart says it’s impossible to start a business or look for a better job when you’re just struggling to stay above water.

“The inability to get off the hamster wheel: this kid is sick, so you have to take him to the doctor, you have to stop working. And now you’re missing hours and you’re going to miss somewhere on a bill because that you miss days at work,” she says.

Even experts who embrace guaranteed income say it should always be bundled with other policies.

Luke Shaefer, who directs the Poverty Solutions program at the University of Michigan, says some traditional programs, like early childhood education, really work. But he says policymakers need to ask themselves:

“Would people be better off if I just gave them the money I spent on this program or if I gave them this program?”

Shaefer says the pandemic may have eroded some people’s discomfort with giving money directly to people facing economic hardship. Federal pandemic relief checks and the expansion of the Child Tax Credit were quite popular at the height of the pandemic and reduced child poverty.

Although that doesn’t mean lawmakers will be rushing to fund guaranteed income on a massive scale.

Proposals to make the expanded federal child tax credit permanent, for example, have now died in Congress and support has faded.

“Could it be that we had this historic moment, where we took an approach that we hadn’t done before, and then went back to our old ways?” Shaefer said.

On the terrace of the Dancing Goats cafe, where lattes are $5 and there’s a West Elm and a Warby Parker next door, Amir Farokhi says Dr. King’s neighborhood is changing fast.

Farokhi co-chairs the Guaranteed Income Pilot Project and represents Old Fourth Ward on the Atlanta City Council.

“So you literally have million-dollar homes on the same block of subsidized housing built 50 years ago,” he says. “It’s in many ways a reflection of Atlanta at large.”


Amir Farokhi represents Old Fourth Ward on the Atlanta City Council. (Sam Gringlas/WABE)

Atlanta ranks among the top cities for income inequality in the country. A smaller pilot across the city of Atlanta will also launch soon, but attracting state support to expand this program unconditionally would be a steep climb.

In Georgia, Republicans have touted work requirements, even for benefits like Medicaid. For now, this pilot project is funded by philanthropic dollars. But Farokhi says officials need to do more to tackle poverty.

“Whether you work 200,000 or 30,000 a year, there should be a place for you in this neighborhood and in this city,” he says.

This spring, Farokhi and others hope they will begin to reduce the inequalities Dr. King preached about in this city more than half a century ago.

Bill to Impose 36% Rate Cap Passes New Mexico House and Senate | Ballard Spahr LLP

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The New Mexico House and Senate both passed Bill 132 which would create a cap of 36% annual percentage rate (APR) on loans up to $10,000 made under the New Mexico Bank Installment Loan Act of 1959 (BILA) and the on New Mexico Small Loans (SLA). In an apparent effort to reach non-bank participants in bank-model programs, the bill would also expand ALC’s anti-avoidance provision. With the House having accepted the amendments made by the Senate, the bill now awaits Governor Grisham’s signature. If signed by the Governor, the bill will come into force on January 1, 2023.

BILA and SLA currently allow New Mexico state-chartered banks and SLA-approved lenders to charge a maximum APR of 175% on loans up to $5,000. The bill would increase the maximum loan amount to $10,000 and limit the maximum interest rate to an APR of 36% (which can be adjusted upwards if the prime interest rate exceeds 10% for three consecutive months ). For the purposes of calculating the APR, a lender must include the fee for any ancillary product or service sold or any fees charged under the credit extension, any credit insurance premium or fees, and any single-premium creditor insurance or any costs associated with the insurance. Only fees paid to public officials in connection with the granting of credit, including fees for registering a lien, can be excluded.

The bill also expands the scope of the existing anti-avoidance provision of the SLA which makes the SLA applicable to “a person who seeks to evade [the SLA’s] demand by any device, subterfuge or pretense whatsoever to include (a) making, offering, assisting or arranging for a debtor to obtain a loan with an APR greater than 36% by any method, including mail, telephone, Internet, or any electronic means, regardless of whether the person has a physical location in New Mexico, and (b) a person purporting to act as an agent, service provider or otherwise for another entity that is exempt from the SLA if, among other things:

  • The person owns, acquires or retains, directly or indirectly, the preponderant economic interest in the loan;
  • The person markets, negotiates, arranges or facilitates lending and has the right, obligation or first right of refusal to purchase loans, receivables or interest in loans; Where
  • The totality of the circumstances indicates that the person is the lender and that the transaction is structured in such a way as to circumvent the requirements of the SLA. In deciding whether the totality of the circumstances indicates that a person is the lender and that a transaction is structured to circumvent the SLA, all relevant factors may be considered, including whether the person (1) indemnifies, insures or protects an exempt entity for all costs or risks associated with the loan, (2) primarily designs, controls, or operates the loan program, or (3) purports to act as an agent, service provider or to another title for an exempt entity while acting directly as a lender in other states.

The new anti-avoidance provision regarding when a purported agent or service provider will be subject to the SLA closely follows the anti-avoidance provisions of the Illinois Predatory Lending Prevention Act which entered into force in March 2021 and changes to the Maine Consumer Credit Code which entered into force in June 2021.

[View source.]

Is 4% the “magic number” for mortgage rates to bite the housing market (and stocks)?

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The magic number in 2018 was around 4.8%. In 2006, it was around 6%. But with today’s super inflated house prices? Here are the signs.

By Wolf Richter for WOLF STREET.

According to the Mortgage Bankers Association today. The average rate for FHA-backed 30-year fixed-rate mortgages rose to 4.09%.

So where is the magic number beyond which this overinflated real estate market begins to feel the pressure of rising mortgage rates?

But mortgage rates remain ridiculously low, in the face of CPI inflation which has climbed to 7.5% and always fueled by continued interest rate repression and QE from the Fed – making it the most reckless Fed ever.

The “magic number” in 2018.

In the fall of 2018, as mortgage rates headed towards 5%, the housing market began to falter and stocks crashed. The magic number at the time seems to have been around 4.8%, and when mortgage rates rose above in September, things started to go wild.

After the S&P 500 fell about 20% on Dec. 24, 2018, and with the housing market weakening, Fed Chairman Powell caved under Trump’s daily hammer blows and now sadly does. famous U-Turn.

However, at the time, at the start of 2019, inflation was below the Fed’s target, as measured by its “core PCE,” at 1.6%, and that provided Powell with a fig leaf.

Today, inflation is the worst in 40 years and is skyrocketing, and core PCE inflation is 2.5 times the Fed’s objective. It is now inflation that hammers Powell on a daily basis – he who had ridiculed himself by calling “temporary” this monster that he had unleashed when everyone already knew that it would soar.

Where is the magic number this time beyond which the real estate market begins to feel the pressure?

Mortgage applications to buy a home fell sharply for three straight weeks, coinciding with soaring mortgage rates, and in the week ended Feb. 18 hit lows briefly embraced in August 2021 and then during lockdown, to enter the lower end of the range in 2019. The MBA Purchase Mortgage Applications Index is now down 28% from pandemic highs in January 2021 (data via Investing.com):

The “magic number” in 2006.

Not shown on chart: At the height of Housing Bubble 1, in January 2005, the MBA’s purchase mortgage index peaked at 500 – double the current level – before crashing.

At that time, the Fed was in the middle of its rate hike cycle, pushing the federal funds rate from 1.0% in June 2004 to eventually 5.25% in July 2006, pushing the fixed mortgage rate 30-year average at 6.4%, at which time the housing market began to collapse very slowly.

The Nasdaq began to decline in the summer of 2007, and little by little it all came crashing down globally, punctuated by Lehman’s bankruptcy in September 2008.

Higher mortgage rates, when house prices are already exorbitant, are very difficult for housing markets. And higher interest rates in general are hard on stocks.

So where was the magic number back then? Of course, 6.4% for the 30-year fixed mortgage rate, at these housing bubble 1 prices, was beyond the magic number.

Refi mortgage applications plunge.

Rising mortgage rates mean households are putting mortgage refinancing on the back burner. This is happening despite the historic boom in house prices that comes with much of the equity in real estate that could be withdrawn via cash rebates.

The MBA Refinance Mortgage Demand Index has now plunged to the lowest level since June 2019 and is down 74% from pandemic highs – and mortgage rates have just started to rise and are still ridiculously low , given that CPI inflation jumped to 7.5% (data via Investing.com):

The magic number now.

First-time home buyers, faced with these higher mortgage rates and sky-high prices, have already pulled out of this ridiculously Fed-inflated market as investors and cash buyers crowd the market.

In January, first-time buyers fell to just 27% of total home purchases, down from 30% in December and down from 34% for all of 2021, according to the National Association of Realtors.

Going forward, “some moderate-income buyers who barely qualified for a mortgage when interest rates were lower will no longer be able to afford a mortgage,” the NAR said.

With every increase in house prices and every increase in mortgage rates, more and more potential buyers are taken off the table. At first no one notices, but then the layers start to pile up, and at some point repeat buyers – like first-time buyers – start to thin out. And that’s what we see now.

At first, cash buyers and investors may be able to make up the difference. And that’s what happened during housing bubble 1, which was partly driven by investors, who then became the heart of the mortgage crisis when they walked away from multiple properties at once.

Individual investors or second home buyers piled into the market, accounting for 22% of home purchases in January, down from 17% in December and 15% in January last year, according to the NAR.

Cash purchases jumped to 27% of home purchases in January, from 23% in December and 19% in January 2021, according to the NAR.

But in January, mortgage rates were still in the 3.5% to 3.7% range, well below the 4% line. And already, visible layers of first-time buyers have begun to be driven out of the market which has been artificially inflated by the Fed’s reckless monetary policies, and which now faces rising but still artificially low mortgage rates.

So it looks like the magic number for the average 30-year fixed mortgage rate is a little north of 4%, a level at which layers of potential buyers, like first-time buyers, are disappearing from the market. It is already happening.

For now, like last time, over-enthusiastic investors are making up the difference, but if we’ve learned anything from the debacle 15 years ago, it’s that that investor enthusiasm will also fade in these ridiculously overinflated markets when interest rates rise. in the face of soaring house prices like in America’s most splendid real estate bubbles:

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Credit unions make a splash in student loans

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Source: Shutterstock.

Splash Financial said Wednesday that its student loan volume grew last year, and it called out two credit unions, among others, for contributing to its results.

The Cleveland, Ohio-based company provides an online platform where borrowers can get quotes to refinance their student loans from various banks and credit unions.

Among its new lenders, Splash named Bethpage Federal Credit Union of Bethpage, NY, on Long Island ($11.5 billion in assets, 432,699 members). NCUA data showed Bethpage held $9.8 million in private student loans as of Dec. 31, up from $540,703 a year earlier. Its student loans still represent only 0.1% of total loans.

“Today’s growing market is very competitive. Bethpage is thrilled to partner with Splash to accelerate new member and loan acquisition with a premium, frictionless digital student loan refinancing experience,” said John Witterschein, vice president, credit at consumption at Bethpage.

Splash also named First Tech Federal Credit Union of San Jose, Calif. ($14.7 billion in assets, 652,828 members) as an existing member that continues to invest in the platform.

First Tech’s private student loans grew from $11.2 million and 0.1% of total loans in December 2020 to $727.4 million and 7.5% of total loans at the end of December 2021.

“We strive to provide our members with personalized financial services and flexible loan refinancing options for a variety of situations,” said Marito Domingo, Chief Financial Officer of First Tech. “Over the past two years, Splash has evolved into one of our most trusted fintech partners – actively working with our team to support our goals and drive growth.”

Among all credit unions, private student loans accounted for $6.5 billion, or 0.5%, of their total $1.24 trillion portfolio as of Sept. 30. Student loan balances increased 8.3% over the previous 12 months, while total loans increased 6.2%.

A press release from Splash said it was attracting lenders looking to increase their visibility with the millennial and Gen Z demographic.

According to Splash, student loan rates have reached 7.90% since 2012, depending on the level of study, the type of loan and the date the loan was obtained. By comparison, Splash said its customers received an average rate of 3.51% APR last year, including a 0.25% rebate on autopay.

Steven Muszynski, founder and CEO of Splash Financial, said the company is helping those affected by the student debt crisis.

“Student loan debt traps many Americans — delaying or preventing them from enjoying the biggest milestones in life, such as buying their first home or starting a family,” Muszynski said. “At Splash, we make the process of saving student loans as quick and easy as possible, in the constant pursuit of our mission to make people more powerful than their debt.”

Senior police officers have joked about Wayne Couzens who ‘better blame him on the fact that he’s redheaded’

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Senior police officers have joked about Wayne Couzens ‘better blame him on the fact that he’s redheaded’ after hearing details of the killer cop’s initial defense strategy, a court heard today – while one used sexual innuendo to tag his ‘old’ story slipped and fell ‘next thing i knew…’.

Couzens, 48, abducted and killed marketing manager Sarah Everard, 33, as she walked home near Clapham Common, south London, on March 3 last year, before dump his body in a pond in Kent.

But the father-of-two claimed in his first court appearance on March 13 that he handed Ms Everard alive to an Eastern European gang to pay off a debt.

Details of that defense were shared by a reporter with a senior member of the Police Federation, Sergeant Simon Kempton, who is facing a misconduct hearing for discussing it with colleagues from a group on the application of Signal messaging.

Mr Kempton, of Dorset Police, who was on secondment as federation treasurer, told today’s hearing he would be ‘bewildered’ if he believed he had added to the distress of Mrs. Everard’s family.

In a message, sent to eight other members of the Police Federation, which represents officers in England and Wales, Mr Kempton said: ‘Wait until you hear what his defense was today.’

Mr Kempton adds: ‘He said he used prostitutes and took one to a Travel Lodge type venue in Folkestone’, followed by: ‘He underpaid her so her family was threatened by the gang.”

Details of Couzens’ defense were shared by a reporter with a senior member of the Police Federation, Sergeant Simon Kempton (pictured), who is facing a misconduct hearing for discussing it with colleagues from a group Messaging Signal.

Mr Kempton continues: “They said, ‘…well, you better find us another girl then…’

“So he went to find Sarah and took her to a rest stop in Kent where a Mercedes Sprinter on Romanian plates flashed him. He handed her over and never saw her again.

“Except he was seen on CCTV at B&Q and bought two bags from builders.

And she was found in a mason’s bag.

“So basically coughing to kidnap but deny murder.”

The sergeant adds in the messages: “Admitted in interview to regularly using prostitutes in the same hotel.

“No comment after finding the body and re-examining it.

“He and his wife bought land in Kent. Where Sarah’s body was found. I imagine the SIO will want to take a look over there.

A co-worker replies, “The old one ‘slipped and fell’, next thing I knew…”

He adds: ‘It’s better to just blame the fact that he’s redheaded’ – which saw at least two colleagues react with laughing emojis.

Another said: ‘He had suffered a nasty blow to the head, which might explain why he thought that excuse might fly.

Mr Kempton is accused of breaching police professional behavior standards relating to respect and courtesy, duties and responsibilities, use of social media and confidentiality.

It is further alleged that his actions had the potential to undermine trust in the police.

Wayne Couzens (pictured), 48, abducted and killed marketing manager Sarah Everard, 33, as she walked home near Clapham Common, south London, on March 3 last year before dumping his body in a pond in Kent.

Wayne Couzens (pictured), 48, abducted and killed marketing manager Sarah Everard, 33, as she walked home near Clapham Common, south London, on March 3 last year before dumping his body in a pond in Kent.

Giving evidence to a hearing at Dorset Police Headquarters, Mr Kempton denied any wrongdoing.

He said he thought it was vital that all members of the management team were briefed on the matter so they could discuss the position to take in subsequent press releases.

“We were talking about how we could play our part in building trust and the need to prepare lines for the media,” he said.

He continued: “At that time the federation, through me, we knew that (Couzens) had admitted at least one serious infraction, and that changes things on several levels.”

As Treasurer, Mr Kempton said he was also involved in claims by Police Federation members for legal funding.

‘My thought process went to the (legal funding) claims team, I didn’t know at the time that we hadn’t received a funding request from Couzens, but I thought it was not beyond the possibilities that (Couzens) might think: ‘Blimey, I need to ask for this help,’ he said.

“Once we’ve issued a press release we can’t get it back, so for me that was the most pressing concern, followed by a claim (for legal fees) which we may have already decided to fund.”

The press release subsequently issued by the Police Federation does not mention Couzens by name.

Mr Kempton said: “It was a deliberate decision, to make sure we focused on where we thought we should be, which was the Everard family, and that seems like a poor choice of words, but also to ‘get us away’ from Mr. Couzens.’

Asked about the tone of his messages, Mr Kempton said: ‘It was a conversation and I regret that given where I’m sitting, but it’s a conversation because it’s a conversation.’

A colleague jokes that Couzens

A colleague jokes that Couzens ‘better just blame him on the fact that he’s redheaded’ – to which at least two colleagues reacted with a laughing emoji

He said the messages were “factual” and that he was repeating what the reporter had told him.

When asked if he thought the messages were discourteous to Couzens, he replied: “I don’t think so, I’m basically repeating what Wayne Couzens said.”

Mr Kempton denied showing any disrespect and courtesy to Sarah Everard’s family, saying: ‘I don’t accept this and it’s hurtful.’

He continued: “God only knows what they’ve been through already – if I had contributed in any way to their plight, I would be beside myself.

“I don’t think I did, but I would be beside myself.”

PC Duncan reported Sgt Kempton’s messages to the Metropolitan Police because he did not know where the information came from at the time and feared there was a leak within the force.

But he defended Sgt Kempton for releasing the information on Tuesday.

He said: ‘I made an assumption at the time that it was obtained by gossip and it was totally inappropriate.

“Now knowing where it came from, I think he was right to do what he did with it.”

Mark Ley-Morgan, the lawyer for Dorset Police, previously said the exchange of messages was ‘sarcastic, derogatory and cynical and disrespectful to the death of Sarah Everard’.

Mr Ley-Morgan said: ‘Was the officer sharing information with the executive group for a justifiable reason or was he just chatting away?

“We would say he got into that information and was eager to share it with the group even though they didn’t need to know.

“He had no reason to share the information. The question is what he should have done once he had this information. He should have kept that to himself.

“It was not done because it was necessary, it was done to gossip and ran the risk of highly confidential information being put into the public domain.”

The misconduct hearing is scheduled to end on Friday.

It comes after three Metropolitan Police officers accused of exchanging grossly offensive messages with Couzens were first named on Tuesday – including one who is a former firearms counter-terrorism officer, just like the killer of Mrs Everard.

PC Jonathan Cobban, PC William Neville and PC Joel Borders have been named ahead of their court appearances next month.

William Neville (pictured), 33, lives in Surrey in a modern building with his wife

William Neville (pictured), 33, lives in Surrey in a modern building with his wife

PC Jonathan Cobban (pictured) and PC William Neville were first named ahead of their court appearance next month

PC Jonathan Cobban (pictured) and PC William Neville were first named ahead of their court appearance next month

A third man, former PC Joel Borders, 45, was also charged with sharing the offensive posts between April and August 2019.

A third man, former PC Joel Borders, 45, was also charged with sharing the offensive posts between April and August 2019.

PC Borders, 45, was charged with sharing the offensive posts between April and August 2019.

Borders, who now lists his job as a close protection officer, followed a similar career path to Couzens, having also served in the Civilian Nuclear Gendarmerie as a firearms officer.

He lists his skills as being an advanced driver, firearms, and counter-terrorism.

Couzens also worked for the CNC before joining the Met.

Cobban and Borders are charged with five counts of sending grossly offensive messages.

Neville, 33, who lives in Surrey in a modern building with his wife, is charged with two counts of the same offence.

Their colleague Cobban, 35, who shares a modern single-family home in Oxfordshire, will also stand trial.

Neville and Cobban’s neighbors knew they were police officers, but not of their alleged involvement with Couzens, who is serving a life sentence.

Both men were suspended from the force after being accused of participating in what the prosecution claimed were “grossly offensive” chats on WhatsApp.

The three men – who have been identified by the Crown Prosecution Service after a row over their undisclosed names – will appear in Westminster Magistrates Court on March 16.

FDB launches new loan program – FBC News

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The Fiji Development Bank has launched its new loan program for small and medium enterprises.

The program will also allow farmers to access up to $50,000 for their farming business.

FDB board chairman Andre Viljoen said the SME sustainability program will help companies strengthen and expand their operations and accelerate service delivery.

The article continues after the ad

Economy Minister Aiyaz Sayed-Khaiyum said there was a buzz in the business sector and the government would continue to provide an enabling environment.


“You need to have consistent policies, you need to have the overall goal of getting to your destination, and you don’t make things up as you go along and you also need stability, so stability in an economic sense, in socio-economic level, is also very important.

FDB chief executive Saudi Minam has announced that he will soon sign a memorandum of understanding with Business Assistance Fiji.

Minam says after that, the package should go live by March 7 and customers will be able to access support.

The FDB CEO adds that it will be for SMEs and farmers who want to access up to $50,000 for five-year financing at a rate of five percent.

He says the facility can be accessed digitally through the FDB online application portal.

Minam also revealed that FDB is currently working on its five-year plan.


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The latest news on the Russian-Ukrainian crisis

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WASHINGTON — The Biden administration will take steps to ensure that its sanctions against Russia over Ukraine don’t drive up energy prices — and will act to lower prices if they do, a senior State Department official said Tuesday.

U.S. sanctions stop ahead of measures that could curb oil and gas exports out of Russia, official says, as U.S. seeks to harm Russia’s economy while avoiding collateral damage to states -United.

“The sanctions that are being imposed today and that may be imposed in the near future do not and will not target oil and natural gas flows,” the official told reporters.

“Doing anything that affects…or stops energy transactions would have a significant impact on the United States, American citizens, and our allies. Our intention here, therefore, is to impose the strongest possible sanctions while trying to protect the American public and the rest of the world from these measures,” the official said.

U.S. officials are also working closely with other countries to ensure more supply comes to market if prices rise, the official added.

This could include releasing government-owned oil from the Strategic Petroleum Reserve, as the Biden administration did last year. But that won’t happen as long as prices remain stable, the official said.

U.S. officials have spoken with countries around the world, including the Middle East and Asia, that have been reluctant to join the United States in other recent reserve releases.

Saudi Arabia and other OPEC nations have told U.S. officials in recent meetings that they understand the need to maintain market stability given the ongoing international crisis, and the seriousness of the situation in Ukraine is likely to make major consumer countries in Asia, such as China, more likely to continue working with the United States on reserve releases than they have been on releases than the United States have claimed in recent months, the official said.

Communication Federal Credit Union uses data to drive

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SOUTH BEND, Indiana, Feb. 22, 2022 (GLOBE NEWSWIRE) — Aunalyticsa leading data platform company providing insights as a service to businesses, today announced that Communication Federal Credit Union (CFCU) uses Aunalytics Dawn for financial services so they can leverage their data to complete demanding projects more quickly and efficiently. Using Aunalytics’ advanced data analytics platform, combined with the company’s side-by-side approach that integrates technology and expertise for non-professional users, the credit union has accelerated its take member-centric decision-making to generate higher business value.

CFCU is a $1.7 billion full-service credit union with more than 200 employees and 23 branches in Oklahoma and Kansas. It serves over 105,000 members and partners with many successful companies such as OG&E, ONEOK, ONE Gas, AEP/PSO, Chaparral Energy, AT&T, Goodyear Tire and over 250 other groups.

Because of CFCU’s strong commitment to personalized service, the credit union takes a “hands-on” approach when it comes to business intelligence and how it manages data. Ben Smith, Vice President of Business Intelligence for CFCU, explains that “we work hard to get our hands dirty and figure out how we can execute on our strategic goals, measure accordingly, and then quickly adjust our findings. At the same time, we take an “anything is possible” approach, which posed a significant dark-era challenge for credit unions and data analytics many years ago when we were all just getting started. and trying to figure out how to do things. with a multitude of platforms, systems and a lot of data.

Having data was never a problem for CFCU as the organization had always had volumes of information to work with. However, it was scattered throughout the organization and was messy, disjointed and very difficult to bring together. As the credit union began to embrace analytics and become more data-driven, it quickly had to learn how to leverage data within technology platforms to meet strategic business information demands. executive management. Proving they could respond to requests with the anything is possible approach, the business intelligence team began to receive a flurry of requests and found themselves spending a lot of time, effort and determination to get there. to respond.

Coming to a point where the existing model was no longer sustainable, the team determined that they needed a data analytics solution provider to support their business intelligence initiatives. After an unsuccessful experience with its first vendor, CFCU established more concrete goals and a higher set of expectations for what it required from a data analytics vendor. Innovation and true partnership were high on his wish list. The business intelligence team spoke with many peers and industry experts before beginning the formal exploration process.

“We wanted to work with a cutting-edge technology company that had a proven track record of innovation, as well as experience in multiple industries, including financial services,” Smith said. “Additionally, we were looking for a partnership that would go far beyond the traditional services model – a partner that would support us in a way that we push them to excellence in the platform, and they push us to excellence in our analytics and platform outputs. It really required a fresh approach to our preliminary discovery questions when we met with different vendors.”

CFCU has narrowed its vendor selection to two vendors, including Aunalytics. In addition to outdoing the other company, Aunalytics offered a side-by-side partnership model that integrated technology and expertise into an end-to-end solution designed for non-technical business users. Aunalytics was also flexible, open, agile and offered an unparalleled level of support.

Implementation of the Aunalytics data platform and Daybreak® for financial services, CFCU has achieved immediate high value impact in centralized automated data cleansing, organization, structuring, consolidation and aggregation. The credit union was able to obtain and operate daily cleansed data, delivered seamlessly in a dynamic environment without investing in the necessary cloud infrastructure, software and people such as data engineers, data scientists and daily support. CFCU now uses this data to complete demanding projects with greater speed and efficiency.

Designed from the ground up for midsize credit unions and community banks, Daybreak for Financial Services is a cloud-native data platform that empowers users to focus on critical business outcomes. The solution seamlessly integrates and cleanses data for accuracy, and uses analytics based on artificial intelligence (AI) and machine learning (ML) to glean timely customer insights and actionable insights that generate strategic value. It includes the transactional banking data that a financial institution creates and aggregates daily into analytics, to provide the most up-to-date information that business users can act on at the start of each business day.

“Our approach at the start of our data analytics journey was that anything was possible — given enough time, effort, and determination,” Smith said. “Our approach now with Aunalytics is that everything is quickly possible – with the right tools, innovation and partnerships.

“Communication Federal Credit Union was struggling with what many financial institutions are faced with – massive amounts of data that is typically siled across the organization, making it difficult and time-consuming to aggregate and integrate for business value. higher,” said Ryan Wilson, vice president. President, Client Relations at Aunalytics. “We are excited to work with them in a side-by-side manner that helps CFCU achieve its business goals while reducing and streamlining the manual processes required before implementing the Daybreak solution.”

Full case study here.

Tweet this: [email protected] Communication Federal Credit Union Leverages Data to Drive Higher Business Value Using Aunalytics Daybreak for Financial Services ML #DigitalTransformation

About Analytics
Aunalytics is a data platform company providing answers for your business. Named a Digital Innovator by analyst firm Intellyx and selected to the prestigious Inc. 5000 list, Aunalytics provides Insights-as-a-Service to answer the most important IT and business questions for enterprises and midsize businesses. the Aunalytics® cloud-native data platform is designed for universal data access, advanced analytics and AI while unifying disparate data silos into a single record of accurate and actionable business insights. His DawnMT The intelligent industry data store combined with the power of the Aunalytics data platform provides industry-specific data models with built-in queries and AI to ensure access to accurate and timely data and answers to critical business and IT questions. Through its side-by-side digital transformation model, Aunalytics provides scalable, on-demand access to technology, data science, and artificial intelligence experts to seamlessly transform its members’ businesses. To learn more, contact us at +1 855-799-DATA or visit Aunalytics at http://www.aunalytics.com Or on Twitter and LinkedIn.

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“The reward is worth it”

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(Getty Images)

In honor of turning 56 this year, Cindy Crawford has revealed some essential advice she wishes she had for her younger self.

The day before her birthday, Feb. 20, Crawford shared a black-and-white photo of herself as a child sitting next to a birthday cake on Instagram. In the caption, the model reflected on her younger years, “looking at little Cindy and thinking about what [she] would tell him.

“I would tell her to be kinder to herself, to treat herself like she treats her friends,” she wrote. “I would tell him that everyone feels nervous in new situations and sometimes you just have to fake it until you make it. I would tell him not to be afraid to make a fool of himself – dance, sing, etc. – even if she’s not good at it.

She then encouraged her younger self to “laugh as much as possible” and “be vulnerable.”

“The risk of showing her true self to the people she loves – the payoff is worth it,” she continued. “Practice gratitude. Keep growing, learning and becoming… life is a blessing!

In the comments, some famous faces applauded her for sharing her words of wisdom and wished her a happy birthday.

“Wonderful ideas!” model Frederique van der Wal wrote. “The best thing to do is to keep growing and shedding those layers that we’ve imposed on ourselves.”

“Great advice for all ages,” model Christie Brinkley wrote. “Happy Birthday.”

Previously, Crawford opened up about aging. Talk to People in June, she opened up about what her skincare routine means to her based on her age.

“With skincare, my approach has been ‘age maintenance,'” she explained. “Gravity is still there and things will happen, but let me take care of my skin as best I can.”

The model also explained that at the time, she wasn’t as busy with her career as she had been in the past. However, that’s not necessarily a bad thing, nor is she afraid to retire when the time comes.

“One of the big things for me was slowing down and realizing that I’m okay,” she said. “I feel like I’ve been so busy for the past 30 years that I was like, ‘Oh my God, what am I going to do with myself?’ [Now] If I retire – not that I intend to – but that doesn’t scare me anymore. I know I’m okay with a less busy schedule and it’s liberating to know that.

Green New Deal Guide: MISE Decree Incentives | Denton

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The Interministerial Order (MISE and MEF) of December 1, 2021 (the MISE Order), published in the Italian Official Gazette of February 1, 2022, provides for the granting of incentives to support research, development and innovation projects for the ecological and circular transition in support of the objectives of the “Italian Green New Deal”, with a budget of 750 million euros.

The measure is intended to support the projects of companies eligible for subsidized financing from the Revolving Fund for Business Support and Investment in Research (FRI). It also provides for the granting of contributions to support industrial research, experimental development and, for SMEs, the industrialization of research and development results.
The grants consist of direct grants, subsidized loans (FRI) and also involve bank loans.

Eligible companies:

Companies of all sizes carrying out industrial, agro-industrial, artisanal or industrial service activities and research centres. Projects can be submitted individually or jointly with other companies.

Eligible projects:

Projects consistent with the areas of intervention of the Italian Green New Deal, taking into account in particular the following objectives:

  • Decarbonization of the economy;
  • circular economy;
  • Reduce the use of plastics and replace plastics with alternative materials;
  • Urban regeneration;
  • Sustainable tourism;
  • Adaptation and mitigation of risks for Italy arising from climate change.

Industrial research and experimental development activities must be intended for the creation of new products, processes or services, or for the significant improvement of existing products, processes or services.
Industrialization investments (eligible only for SMEs) must be characterized by a high degree of innovation and sustainability and aim to diversify an establishment’s production by providing additional new products or to radically transform the overall production process of an existing establishment.
The MISE decree contains detailed rules on investments, eligible expenses, requirements of candidate companies and procedures for granting measures.

How to Spot Fake or Abusive Debt Collectors Hiding on Social Media

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Social media is where you watch cooking videos, view photos of dream travel destinations, and scroll through endless news headlines. Now, sites like Instagram, Facebook, and Twitter could also be where debt collectors slip into your direct messages.

At the end of 2021, changes to the rules under the Fair Debt Collections Practices Act came into effect, which specify how third-party debt collectors can communicate via social media, email and text. . (You might see the abbreviated deed in FDCPA.)

Consumer rights advocates like April Kuehnhoff, an attorney at the National Consumer Law Center in Boston, worry the rules could lead to confusion and an increase in scams.

“It is much cheaper to use electronic communications to reach more people. We will see an increase in the number of illegitimate actors posing as debt collectors and sending emails, direct messages or text messages to people in an effort to get them to pay money for debts they didn’t actually incur,” Kuehnhoff says.

Spotting the signs and knowing your rights can help guard against unfair and fraudulent debt collection practices. Here’s what to watch out for and how to stay safe when browsing notifications.

RED FLAGS

Several warning signs can alert you to abusive behavior or scams:

◼️The message is not private.

Collectors can ask to join your friends or followers as long as they tell you they are debt collectors. However, the Debt Collections Act of 2021 states that all communications must be private. This means that posts cannot be seen by the public or people in your network on the platform. If you receive a message that others can see, it signals a bad actor.

◼️ Important information is missing.

Debt collectors are legally required to share specific details about the debt, including the amount owed, the name of the creditor, and information about your rights. They will usually provide this information, called validation notice, the first time they contact you or within five days.

“If someone just said ‘I’m a debt collector’ and nothing else, I would definitely be suspicious from the get-go,” says Katie Bossler, quality assurance specialist at GreenPath, a credit counseling agency in non-profit.

◼️ You are threatened or harassed.

“Sometimes scammers threaten consumers with arrest or deportation or try to scare them into paying quickly,” says Kuehnhoff. But it is illegal for collectors to make threats or use violent or profane language.

A collector also cannot legally sue you if the debt is statute barred or past the statute of limitations. How do you know if your debt is time-barred? Research your state laws and review your payment history on your credit reports. Or consider seeking help from your local legal aid office or nonprofit credit counseling agency.

◼️ You are being asked to make an unusual payment.

Fraudsters often seek prompt payment through hard-to-recover methods. A legitimate debt collector won’t force you to pay using questionable means such as a money transfer, bitcoin terminal, or prepaid card, Kuehnhoff says. “They won’t tell you to go to the Apple Store and buy an Apple [gift] map.”

Do not pay anything without first confirming that the debt and the collector are real. You can learn more about fake and abusive debt collectors from the Federal Trade Commission. See arkansasonline.com/221debt.

PROTECT YOUR RIGHTS

The new collections law gives you certain protections. For example, you can disable communications. Collectors are required to provide an easy and free way to end social media contact. This will not, however, erase the debt.

You also have the right to dispute a debt that you believe is incorrect or that does not belong to you. However, you will need to submit a written request within 30 days of receiving the notice if you wish to dispute or obtain more information about the debt. Information on how to do either should be included in the collector’s initial communication.

How can you check the debt and the collector? Bossler suggests getting your free credit reports from AnnualCreditReport.com first. “Make a list of debts you owe: creditors, balances, account numbers. The debt collector will often refer to the last four digits of the account number,” says Bossler.

You may be dealing with a collection service for the original creditor, which makes it easier to match details. But the original creditor could have sold the debt to an outside company. This third-party collector must provide information such as their name, company, and mailing address. Use these details to verify their authenticity.

Several states have their debt collection licenses registered with the National Multistate Licensing System, Kuehnhoff explains. “Even if your state doesn’t use it, it may be worth checking to see if this name is a legitimate debt collection name registered in other states.”

Even if everything checks out, don’t feel pressured to pay right away. Making a payment could revive a debt that had passed the statute of limitations. Instead, give yourself time to make a plan that works for you and your budget.

If a debt collector violates your rights or you are scammed, you can file a complaint with the FTC, the Consumer Financial Protection Bureau, or your state attorney general’s office.

This report was provided to The Associated Press by personal finance website NerdWallet. Lauren Schwahn is a writer at NerdWallet.

New Sponsor for Thunder Road Labor Day Classic

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The New England Federal Credit Union is signing on as the title sponsor for the always-thrilling Labor Day Classic at Barre, Thunder Road in Vermont. (Photo by Daniel Holben)

BARRE, Vt. – One of Thunder Road’s most iconic and highest paying races has received a new title sponsor.

The New England Federal Credit Union has pledged to host the ACT Late Model Tour for 200 laps of door-to-door action during the 44th annual Labor Day Classic.

Based in Williston, the New England Federal Credit Union (NEFCU) serves communities in twelve Vermont counties: Addison, Bennington, Caledonia, Chittenden, Franklin, Grand Isle, Lamoille, Orange, Rutland, Washington, Windham, and Windsor; and four New Hampshire counties: Cheshire, Grafton, Merrimack and Sullivan. This member-owned institution has been meeting the financial needs of these communities for more than 60 years.

NEFCU is committed to helping members, staff and the communities they serve improve their economic well-being and achieve their financial goals. NEFCU is also the largest Vermont-domiciled financial institution and is the leader in originating and locally servicing the most mortgages in the entire Green Mountain State.

Their convenient suite of online and mobile banking services allows members to easily and securely bank from anywhere, anytime.

“We are absolutely thrilled to have the New England Federal Credit Union join us in 2022,” said Cris Michaud, managing partner of Thunder Road. “To add a partner with such extensive connections across Vermont and New Hampshire, we truly believe we benefit from another and we look forward to celebrating Labor Day weekend in the exciting way of Thunder. Road.”

“Engaging with individuals and organizations across the region in a meaningful way is very important to NEFCU,” said Sarah Ricker, Senior Community Relations Specialist at NEFCU. “We are grateful to have the opportunity to sponsor the 44th Thunder Road Labor Day Classic and support the dedicated race teams, drivers and audiences of this iconic local event.”

The 44th New England Federal Credit Union Labor Day Classic is scheduled for Sunday, September 4 with the ACT Late Model Tour taking home the grand prize of $5,000 in the annual 200-tour affair. Also on the ticket are Lenny’s Shoe and Apparel Flying Tigers, rk Miles Street Stocks and Burnett Scrap Metals Road Warriors. The Flying Tigers and Street Stocks will crown their champions as part of the festivities.

Leeds 2-4 Man United: Ralf Rangnick substitutions pay off in Elland Road thriller

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Fred and Anthony Elanga scored to put the team 4-2 away after losing a two-goal lead in the early stages of the second half.

In a searing atmosphere, the visitors took the lead in the 34th minute, with captain Harry Maguire heading home to score his side’s first league goal from a corner all season.

As the rain grew more torrential, United added to the home side’s woes when Bruno Fernandes, who scored a hat-trick in the reverse game earlier this season, poked another header into the net in stoppage time of the first half.

Seemingly dead and buried, Leeds turned the game around with two goals in under a minute at the start of the second to lift the roof off Elland Road.

Spain striker Rodrigo’s cross looped past United striker David de Gea and into the net before Dan James slotted in Leeds substitute Raphinha to equalize at the far post.

The visitors were the ones to cross the line, however, as Fred put his side ahead with 20 minutes left before Elanga settled the game with a late fourth.

The result moved fourth-placed United to 46 points, four behind Chelsea in third, while Leeds remain 15th, five points above the relegation zone.

Additional Reuters reports

Know the Score – Albuquerque Journal

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Because interest rates are low, credit companies may make tempting offers to entice you into taking out a loan or getting a credit card. Take your time to make a decision that is right for you and your financial health before going ahead with such offers.

What is a credit score?

A credit score is a three-digit number that summarizes information on your credit report. The number changes depending on what is happening in your financial life.

There are two different names for credit score, FICO or VantageScore. The FICO score is named after the company that invented this three-digit scoring system in the mid-1980s, Fair Isaac Inc. The three major credit reporting agencies created their own scoring system, called VantageScore, designed to produce a more consistent score across all three credit reporting agencies. Each credit reporting agency collects different financial information about you and therefore reports a different credit score.

Credit scores are designed to estimate your likelihood of repaying a debt.

What are the ranges?

From NerdWallet:

• A score of 720 or higher is generally considered excellent credit.

• A score between 690 and 719 is considered good credit.

• Scores between 630 and 689 are fair credit.

• And scores of 629 or less are bad credit.

Other sites had different ranges and names with similar messages about the meanings.

What factors come into play?

• Pay bills on time. Any late payment can affect your score. Late payments of 30 days or more stay past due on your credit history for years.

• How much you owe. Just because you have a high credit limit on your credit card doesn’t mean you should use it. The sites I looked at recommended using 30% or less of the credit limit. Lower is better.

• Credit age. The longer you have credit, the better your score.

• Composition of credit. Having more than one type of credit such as a loan and a credit card.

• How long ago you applied for credit. When you apply for credit, an investigation is done on your credit file and may cause your score to drop temporarily. For example, applying for a new credit card that offers airline miles, cash rewards for signing up, or other incentives could negatively affect your credit score.

What does this really mean?

The score can affect your approval for a loan or credit and the interest rate you pay on the loan. People with high scores generally receive lower interest rates on mortgages, credit cards, and loans because they are considered to be at low risk of default. Average scores will likely qualify for new credit, but not ideal rates. Low scores mean a damaged credit history, such as defaults on different types of credit. It can also be the result of bankruptcy, which stays on a credit report for seven years.

Establish credit

Start small. Your bank, credit union, or other financial institution with which you have an account may offer you a credit card. When you are approved for a loan or credit card, make payments on time and in full. Credit is also established by paying your utility bills on time.

Watch your score

According to the Consumer Financial Protection Bureau, there are four main ways to get a credit score. (See the government website below for additional links.)

1. Check your credit card or other loan statement. Many credit card companies and loan companies provide credit scores on monthly statements or by logging into your account.

2. Talk to a nonprofit advisor. Nonprofit credit counselors and HUD-licensed housing counselors can often provide you with a free credit report and score and help you review them. (I couldn’t find a New Mexico nonprofit credit counselor on the website, but I did find Housing Counselors for New Mexico.)

3. Use a credit score service. Many services and websites advertise a “free credit score”. Review them carefully, as you may be charged a fee for ongoing monitoring.

4. Buy sheet music. You can buy directly from credit reporting companies. Know what you are buying and acknowledge efforts to sell additional products or services.

Obtain and review your credit report:

You are entitled to a free copy of your credit report every 12 months from each of the three national credit reporting companies. It is important to review your credit reports, which you can do free of charge at www.AnnualCreditReport.com. If there are errors in your credit reports, they can unnecessarily lower your scores. You can submit information to correct errors.

Sources: www.nerdwallet.com, www.investopedia.com and www.consumerfinance.gov.

Honor Credit Union will open five branches | News

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BERRIEN SPRINGS – Honor Credit Union is poised for a busy 2022.

The credit union, headquartered in Berrien Springs, will open three new locations in southwest Michigan: Hartford, Buchanan and Baroda. Additionally, Honor will open branches in Jenison and Allendale this year.

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Girlfriend trolled for expecting her rich partner to pay his debts

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Thousands of internet commentators were left stunned after a 25-year-old detailed his girlfriend’s reaction to learning of their substantial wealth.

In a viral Reddit post posted to r/AmITheA**hole, Redditor u/gfis2mad said their family was “quietly wealthy” but assured they made a conscious effort not to post it. The Redditor also shared how their sister recently revealed the family’s wealth to their girlfriend.

Titled “AITA for getting mad at my sister for telling my girlfriend about our family’s wealth,” the viral post received 8.4,000 votes and 2.1,000 comments in just 9 hours.

Explaining that their family generally makes sure they “spend money on experiences rather than things,” u/gfis2mad said their girlfriend learned how much money they had by making shopping with their sister.

“Apparently [my sister] flashed my dad’s credit card and told the salesman how much money she needed to spend,” the Redditor wrote. “My girlfriend was shocked.”

“We had a huge discussion and ended up fighting about it,” they added. “She was shocked to see roughly how much money we had and told me I was a little selfish for not mentioning it when she had college and medical debts.”

A recent viral post on Reddit has sparked a debate about wealthy partners and whether they should be responsible for paying off student debt.
Zinkevych/iStock/Getty Images Plus

In the US, student loan debt stands at $1.75 trillion and, according to Education Data, is growing six times faster than the US economy.

Despite the seemingly endless political commentary surrounding its elimination, more than 43 million former and current students face federal student loan debt. When Americans with private and federal student loan debt are included, that figure jumps to 44.7 million, per Nitro.

For those 43 million Americans, Education Data reported that the average federal student loan debt balance is $37,113. For those facing private student loan debt, the average balance also jumps to $40,904.

With nearly a quarter of Americans facing student loan debt and a recent Debt.com survey which found that 50% of Americans also face some form of medical debt, people across the country are struggling to meet their daily needs. base, while ensuring the follow-up of the various reimbursements.

Although My Bank Tracker recommends that couples in long-term relationships consider helping each other with student loan debt to improve credit, the independent financial comparison website also warns of the potential dangers involved. to this decision.

“Unfortunately, when you give someone money to pay off their student loans…there’s no guarantee they’ll pay you back,” the site reads. “That’s what makes it risky to help a partner repay their loans. You could give your partner thousands of dollars to help you with loans, but never get anything in return.”

In their original Reddit post, u/gfis2mad said they had recently started considering helping their girlfriend with her student and medical debts, but acknowledged that their sister’s neglect had dramatically accelerated the timeline.

“It all happened a little too soon,” they wrote.

Commenters responding to the viral post were less sympathetic and took aim at the original poster’s girlfriend for insinuating that her partner should be responsible for his debt just because they are wealthy.

In the top comment of the post, which received nearly 20,000 votes, Redditor u/NUT-me-SHELL told the original poster that their girlfriend’s reaction to their wealth could be a potential red flag.

“The biggest con** here is your girlfriend for assuming that because you come from a wealthy family you have to pay her debt,” they commented. “Is that really the kind of person you want to have a relationship with?”

Redditor u/DanDan_notaman, whose comment received 5,000 votes, echoed the same sentiment.

“Your parents’ money has nothing and never will have anything to do with his college and medical debts,” they wrote.

Receiving over 2,800 votes, Redditor u/abrokeinheart offered a fiery response to the original poster.

“Sorry, she wants YOU to pay off her debt?” Just because your family is rich? they wondered.

“The audacity and the right she has,” they added. “Your and your family’s finances are really none of his business unless you all get married.”

Pleasant City Fire Department orders new truck after receiving USDA loan

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PLEASANT CITY — The Pleasant City Volunteer Fire Department has ordered a new lightweight rescue fire truck after receiving $79,500 from the United States Department of Agriculture.

“We applied for the USDA loan about a year and a half ago and finally received notification that we got the loan a few months ago,” Fire Chief Tom Regan said. “That’s when we ordered the truck, but we don’t know when we will receive it.

“We hope to get him this summer. He will be a great addition and improve the department,” added Regan.

The cost of the new truck when complete will be around $140,000, according to Regan. The Pleasant City department will be responsible for paying the balance after applying the $79,500 to the cost.

Regan said the one-tonne truck with a crew cab and poly salvage body would be a welcome addition to the Guernsey County South Department’s fleet.

“A lot of the time we respond to a structure fire or other call with a truck that can only carry five people, so that will allow us to send more personnel to the scene,” Regan said.

The chief also believes the new truck will help his department prepare for the future.

“With (Guernsey) Power Station, who knows what will be needed in this area,” Regan said of public safety. “We also have a few people doing first responder training, so maybe in the future we will add first responder services.”

The department plans to equip the truck with rescue tools and first aid medical supplies for responding to non-fire related incidents, such as car accidents.

“We don’t always need an engine to answer a call,” Regan said. “This truck can be used for those types of calls and we can’t wait for it to get here.”

The loan is part of $602,500 provided through the USDA’s Direct Community Facilities Loan and Grant Program to nine communities in southeast Ohio.

“Now more than ever, we need to make sure communities in Southeast Ohio have the resources they need to improve the daily lives of their residents,” U.S. Sen. Sherrod Brown, D-OH, said recently. , when the prices are announced.

Other grant and loan recipients included:

  • Franklin Township (Columbiana Co.), $53,000 grant and $100,000 loan.
  • Village of Syracuse (Meigs Co.), loan of $21,000.
  • Green Township (Hocking Co.), $76,000 loan.
  • Township of Deerfield (Morgan Co.), loan of $51,000.
  • Morgan Township (Morgan Co.), $74,500 loan.
  • Penn Township (Morgan Co.), loan of $19,500.
  • Canton of Malta (Morgan Co.), loan of $56,500.
  • Grandview Township (Washington Co.), $71,500 loan.

The program helps small towns, cities and rural communities improve their infrastructure and provide essential facilities such as schools, libraries, courthouses, public safety, hospitals, colleges and daycares.

FOS PM: DAZN erases $4.3 billion in debt

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For those hoping to see the college football playoff expand beyond four teams: It won’t happen — at least not until 2025. CFP executive director says there won’t be any changes until at the end of his current 12-year contract.



DAZN wipes the slate clean with a $4.3 billion recapitalization from its billionaire owner.

Len BlavatnikInvestment firm Access Industries Holdings LLC, DAZN’s largest shareholder, repaid loans, converted shares and took a larger stake in the sports streaming service to eliminate DAZN’s debt from the end of 2021.

Blavatnik saw his wealth grow of $9.8 billion between the start of 2021 and $31.2 billion in mid-May.

DAZN checked in a loss above $1.3 billion for 2019. The company said revenue grew by 20%, but was still far from profitable.

Access puts a an additional $250 million in DAZN as it seeks to expand into new markets.

Specifically, the company aligns moves in:

On Wednesday, DAZN reached an agreement with Buzzerwhich will provide abridged boxing highlights available through micropayments.

fight for rights

DAZN has built its audience through combat sports but has recently sought out some of the biggest audiences in other sports, especially soccer.

It holds A-series broadcast rights and turned down an offer from Sky of $1.8 billion more than three years to divide them. These rights are credited with helping boost his subscriber count from 9 million to 11 million.

In December, he struck a split deal with Movistar to broadcast the league. The five-year pact is worth a handset $5.6 billion.

However, DAZN suffered a significant setback when a deal to acquire BT Sports and its coveted English Premier League the rights fell through. BT is currently in negotiations with Discovery.

DraftKings/Design: Alex Brooks

DraftKings raised its revenue forecast for the fiscal year after the latest sports betting earnings report on Friday, but its shares fell on concerns about profitability.

The Boston-based company generated $473 million of revenue in the fourth quarter of 2021, an increase of 47% compared to the same period of the previous year. Despite the growth, DraftKings posted a loss of $326 million in the quarter, a jump from a loss of $243 million in the fourth quarter of 2020.

Losses for the full fiscal year 2021 reached $1.5 billion in fiscal year 2021, compared to $1.2 billion in 2020.

DraftKings expects fiscal 2022 revenue to be between $1.9 billion and $2 billion, a slight increase from a previous target of between $1.7 billion and $1.9 billion. of dollars. The company attributes the expected growth to the recent launch of mobile sports betting in Louisiana and New york.

DraftKings plans to continue expanding.

  • The company explores market opportunities in Maryland, Port Ricoand Ohio.
  • Currently, it offers mobile betting in 17 states — about 35% of the American population.

The company’s shares fell more than 20% Friday in response to its reported losses.

More than the game

Last December, NFLPA licensing partner OneTeam Partners and DraftKings announced an agreement to publish products on DraftKings Marketplace during the 2022-23 NFL season.

The two entities plan to create NFTs that can be used in games on the DraftKings platform.


Kirby Lee-USA TODAY Sports/Design: Alex Brooks

Fanatics and a number of high-profile investors are buying vintage sports jersey maker Mitchell & Ness for $250 million, five times the amount Adidas sold it in 2016 to Juggernaut Capital Partners.

Sportswear company is joined by investors including entrepreneur Maverick Carter, rappers Jay-Z, Meek Mill and Lil Baby, and TikTok’s famous D’Amelio family. Jay-Z became Vice President of Fanatics and participated in a $322 million funding round last year, valuing the company at $18 billion.

Fanatics would supervise 75% from the jersey maker, and the additional investors will own the rest.

  • Mitchell & Ness checked in $350 million in revenue last year and $70 million in profit.
  • Since its acquisition by Juggernaut Capital, the company revenue has tripled, according to to CEO Kevin Wulff.

Mitchell & Ness will operate as a separate brand. The deal is expected to help increase the company’s global brand awareness, expand its product portfolio and bring new league and team rights. In November, Mitchell & Ness officials noted they wanted to open five to six more bricks and mortar American stores.

The Fortune of the Fanatics

Fanatics’ trading card company was valued at $10 billion in September and has grown to to acquire Topps for $500 million in January. It has exclusive agreements with the NBA, MLBtheir players’ associations and the NFLPA.

The company also showed growth interest in his own bookmaker, although he was recently denied a license in New York.

  • In The Leadoff, the Washington Commanders are set to build a new stadium complex in Virginia, Formula 1 has a record year for viewership, Monster Beverage nears an $85 billion merger, and the cost of Beijing Winter Olympics is higher than expected. Click here to listen.
  • Major League Rugby has extended its deal with BitFire Networks to support the league’s global broadcast transmissions.
  • The Italian Serie A is exploring a tournament in the United States that would take place during the 2022 World Cup. The potential tournament is part of a plan to expand the international reach of Serie A.
  • The Oakland City Council vote to certify an Environmental Impact Assessment for the proposed Howard Terminal baseball stadium in Oakland A. The stadium is part of a $12 billion development plan that includes housing, hotels and retail space.


Find out exactly what’s happening in private markets every week with highlights from our Front Office Sports Insights trade tracker.

We carefully monitor public and private market data to capture a picture of what the sports landscape looks like.

This week Transaction tracking strong points:

  • fit onthe developer of a fitness app designed to provide on-the-go group fitness workouts, raised $40 million in a Series C funding round led by Delta-v Capital.
  • CSM Sports, the operator of a workflow automation platform designed to maximize sports content, raised $100 million in a Series D funding round led by Ion Asset Management.
  • sports religion, the developer of a sports media platform intended to provide game highlights, scores, podcasts and articles on various sports, has announced that it will raise $50 million in seed capital. The company was co-founded by Tom Brady.
  • Triple Dot Studiosoperator of a game studio that develops casual mobile games, raised $116 million in a Series B funding round led by Harry Stebbings and 20VC.
  • mazedeveloper of computer and video games for renowned franchises, has entered into a definitive agreement to be acquired by Nacon for $60 million.

To try full Transaction tracking.

(Note: all at market close 2/18/22)

Team Durant takes on Team LeBron on Sunday at Rocket Mortgage FieldHouse for the 2022 NBA All-Star Game.

How to watch: 8 p.m. ET on TNT

Betting odds: Team LeBron -5.5 || ML-220 || O/U 320.5* (Bet on DraftKings)

Take: Expect King James and Steph Curry to pack a punch. Take Team LeBron to cover.

*Ratings/lines are subject to change. The T&Cs apply. To see draftkings.com/sportsbook for more details.


Do I need a co-signer for my credit card if I’m under 21?

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Getting a credit card in your name can help you build a good credit history, which can come in handy later when you’re ready to buy a car or a house. But do you need a co-signer for a credit card if you’re new to using credit?

If you are under 21, the general answer is yes, unless you have independent income. The Credit Card Accountability and Disclosure (CARD) Act of 2009 created new rules for card issuers regarding applicants under the age of 21. debt.

Unfortunately, most major credit card issuers have stopped allowing co-signers. While that doesn’t mean you can’t get a credit card at all if you’re under 21, it can limit your options.

Why you might not qualify for a credit card on your own

Technically, you can apply for a credit card at 18. However, the CARD Act requires card issuers to exercise discretion when approving young applicants. To get a credit card in your name before age 21, you must have one of the following:

  • A co-signer willing to share responsibility for the card
  • Proof of independent income

These rules are designed to protect young consumers from abusive credit card practices that could lead them into debt. They can also help young adults develop good credit habits. You may be less likely to have a high balance, for example, if your parent has co-signed your card and is monitoring account activity.

Having a co-signer also benefits the credit card company because there’s someone else who can be held responsible for the debt if you can’t pay. The credit card company can take collection action against the co-signer, including suing them for the debt. But getting a credit card with a co-signer has become more difficult because most major card issuers no longer allow co-signers.

This means that if you are under 21, your ability to get a credit card in your name will depend on your income or not. However, the CARD Act does not specify a certain amount of required income. If you don’t have independent income, which may be the case if you go to school full time or have a job but don’t earn much, you are less likely to be approved.

What credit cards allow co-signers?

Most major card issuers have stopped allowing co-signers of any kind. As of January 2022, the list of card issuers that do not allow co-signers includes:

Bank of America offers an alternative to the traditional cosigner arrangement. If you apply for a Bank of America credit card and are approved, you can ask them to add a co-applicant to your account. However, this is not exactly the same as having a co-signer up front. And if you’re under 21, you’ll still need to show proof of income to be approved.

You may be able to find credit cards issued by smaller banks or credit unions that still allow co-signers. If you have a student checking account with a local bank or credit union, this might be a good place to start looking for cards that allow co-signers. Or you can check with your parents’ bank to see if they’ll co-sign a credit card on your behalf.

Alternative: Become an authorized user

If you can’t get a credit card in your name because you’re under 21 and don’t pass the income test, there’s another option. You could become an authorized user on someone else’s credit card account.

An Authorized User is someone added to the Account by the Primary Cardholder. As an authorized user, you will have your own credit card with your name on it which is linked to the account. You can use the card to make purchases, but you are not responsible for any debt created. You won’t be able to do things like:

  • Request credit limit increases
  • Add other authorized users
  • Redeem rewards unless authorized to do so by the primary cardholder

Becoming an Authorized User can be a backdoor way to establish credit since most major card issuers report Authorized User status to the three major credit bureaus. As long as the primary cardholder has good credit habits (paying on time, keeping balances low, etc.), your credit score can benefit. The impact is not exactly the same as having a card in your name alone. But you can always piggyback on someone else’s good credit to help you build your own credit history.

There are pros and cons to being an authorized user, with the main benefit being the ability to build credit. On the other hand, you may not receive any credit benefits if the card issuer does not report authorized user status to the credit bureaus. And if the primary cardholder pays late, has high credit usage on the card, or worse, defaults on the balance, your credit score could be negatively affected.

Overall, it’s worth considering becoming an authorized user if you’re trying to get a credit card before age 21. If you’re considering asking someone to add you to one of their credit card accounts, be sure to choose someone who has a history of responsible credit use. And it might be a good idea to agree some ground rules in advance about how you’ll use the card and what you might pay for the balance.

Credit cards for your 21st birthday

The good news is that these CARD Act regulations no longer apply once you turn 21. At that time, you will be able to apply for student credit cards or other cards in your name without the need for a co-signer. However, the app will probably still ask you for your annual income. Keep in mind that your approval may depend on your credit score. If you don’t have a long credit history yet, your best option might be starter credit cards or secured cards.

Beginner credit cards tend to have lower credit limits and may or may not charge annual fees. A secured card requires a cash deposit to open, which usually acts as a credit limit. Either could be a good stepping stone to building credit so you can eventually get approved for cards that offer more features and benefits.

The bottom line

Getting your first credit card under 21 can be daunting if you don’t have independent income or if the card you’re interested in doesn’t allow co-signers. You can wait until you’re 21 to apply for a credit card, but going the authorized user route could get you credit sooner. The most important thing to remember when getting a credit card at any age is to use it responsibly, which means paying on time and keeping balances low.

Mortgage agent joins Listerhill in Spring Hill

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With unprecedented economic growth throughout Central Tennessee and the continued impact on the housing market, Listerhill Credit Union is pleased to announce the addition of Morgan Prestage as a Mortgage Loan Officer in South Central. of Tennessee.

In his new role, Prestage will help expand the credit union’s service capacity in the Spring Hill area, according to Torrey Moore, vice president of mortgages.

“We are very pleased to have Morgan on our mortgage team in Tennessee,” Moore said. “Instead of just responding to the high demand for our mortgage applications, we can now help our members in the Spring Hill area turn their dream home into a reality faster.”

Prestage has been an External Mortgage Agent at the Listerhill branch in Russellville, Alabama since 2019 and has nearly eight years of banking and mortgage experience. In its new location, Prestage will continue to focus specifically on helping mortgage seekers achieve their real estate goals and connect with local realtors in the Spring Hill area.

Born and raised in Red Bay, Alabama, Prestage now lives in Summertown with her husband Steven and three children.

“Having a young family who have just moved to the area, I understand the challenges potential buyers face and want to make sure the home buying process is not one of them,” Prestage said. .

Listerhill currently has a branch on Hatcher Lane in Columbia, but plans to open another full-service branch in Spring Hill in the near future. According to Prestage, those wishing to meet her in person can do so at the Columbia branch or at a Spring Hill office by appointment.

“Listerhill is excited to expand our ability to serve our local communities while positioning ourselves for growth by meeting demand, exceeding expectations and bringing the credit union difference to new areas,” Moore said. “Having Morgan available in the Spring Hill area will complement an already outstanding team we have at Listerhill.”

Listerhill Credit Union is a member-owned, not-for-profit financial institution. Founded by Shoals residents 70 years ago, Listerhill has grown to include 90,000 members, $1.1 billion in assets and 17 branches, making it the seventh largest Alabama-based credit union. For more information, please visit www.listerhill.com or call 800-239-6033.

Giant’s online sales yield to parent company Ahold Delhaize | Lehigh Valley Regional News

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Once again, The Giant Company earned special recognition in the fourth quarter from its parent company, Ahold Delhaize. The Carlisle giant is at the forefront of Ahold Delhaize’s initiatives in online shopping.

In a statement, Frans Muller, President and CEO of Ahold Delhaize, said: “To advance its omnichannel offerings in the United States, Giant Food has launched online marketplace solution Ship2me, initially offering around 40,000 general merchandise and additional food items. Our US brands also added new click-and-collect locations in the fourth quarter, for a total addition of 270 in 2021.”

“As we enter 2022, we will accelerate our omnichannel investments,” Muller continued. Improving omnichannel productivity also remains a very high priority as part of the commitment we announced at our November Investor Day to achieve fully allocated profitability across the Group’s e-commerce operations by 2025. comes as the global COVID-19 pandemic continues to highlight the importance of strong omnichannel food retail operations that provide consumers with a variety of shopping options, including robust online offerings.

“In this regard, we are proud of The GIANT Company’s new e-commerce distribution center which opened in the Philadelphia market in the fourth quarter. It supports our growth and productivity ambitions for 2022 and beyond.

US Highlights

Ahold Delhaize’s US brands include The Giant Company, Peapod, Giant Food, Food Lion, FreshDirect, Stop & Shop, Hannaford and Martins. Sales in the United States increased by 1.5% at constant exchange rates. Excluding the 53rd week of last year, fourth quarter US net sales increased 9.2%. Comparable sales in the United States excluding gasoline increased by 4.8%.

Adverse weather conditions had a negative impact of approximately 0.2% on comparable sales in the United States in the fourth quarter. Combining growth rates over the past two years, growth was 16.0%, accelerating from 15.3% growth in the third quarter of 2019 and 2020 combined. Brand performance continued to be led by Food Lion, which has now recorded 37 consecutive quarters of positive sales growth.

In the fourth quarter of 2021, the segment’s online sales grew 30.5% in constant currency (cc), driven by the continued expansion of click-and-collect facilities and the acquisition of FreshDirect. Excluding the acquisition of FreshDirect, online sales in the US grew 7.5% cc, building on the significant growth of 128.5% in the same quarter last year.

Underlying operating margin in the United States was 4.4%, up 0.5% at constant currencies compared to the prior year period, driven by reduced costs to COVID-19 and strong cost reduction initiatives.

Group Highlights

Besides the United States, Ahold Delhaize operates stores in Europe and Indonesia.

“We ended 2021 on a high note,” Muller observed, “with positive Group comparable sales momentum in the fourth quarter and stable Group margins, positioning us for a good start towards the next phase of our Leading Together strategy. announced last November.

“Our financial results in 2021 significantly exceeded our initial expectations, with positive comparable sales growth for the full year and stable comparable underlying profit over 52 weeks compared to the record results of 2020.”

Group sales amounted to 20.1 billion euros, up 0.1%. Excluding the 53rd week of last year, Group net sales in the fourth quarter of 2021 increased by 6.7% cc.

On a two-year basis, the Group’s growth of 14.2% in the fourth quarter of 2021 and 2020 combined compares to the 12.2% growth recorded in the third quarter of these two years combined.

The group’s underlying operating margin was 4.2% in the quarter, stable compared to the prior year, as sales leverage and strong cost reduction initiatives offset rising supply chain costs and inflationary cost pressures. Underlying profit from continuing operations amounted to 598 million euros, up 6.7% over the quarter.

Underlying diluted EPS of €2.19 in 2021 increased 28.8% from 2019 base and significantly exceeded the company’s original guidance of mid to high single digit growth from 2019. This increase compared to the original forecast comes from strong domestic demand and the Group’s underlying operating margins better than expected at 4.4%, against initial forecast of “at least 4%”.

“Looking back over the past year,” Muller observed, “I am very proud of how associates have brought our values ​​to life in how they have responded to ongoing developments associated with COVID-19 and natural disasters. in our brands’ markets, including major floods in Belgium, tornadoes in the Czech Republic, fires in Greece and Hurricane Ida in the United States Through it all, the associates rose to the challenge of taking care of the customers and communities.

Outlook

Ahold Delhaize said management remains confident in the company’s ability to grow sales in 2022. Strong sales are expected to result from current trends in consumer behavior favoring more home food consumption and online food shopping, which corresponds well to the omnichannel activity of Ahold Delhaize. model and growth investments.

As supply chain disruptions, inflation and rising costs as well as the expected easing of consumer government subsidies pose challenges for the industry in 2022, Ahold Delhaize Group’s underlying operating margin should be at least 4.0%, consistent with the historical profile of the business. . Management believes that the Company’s brands continue to offer consumers a strong buying proposition and are well positioned to maintain profitability in the current inflationary environment.

The 2022 target is based on €967 million in savings from 2021, which greatly exceeds the initial savings forecast of over €750 million. Underlying EPS is expected to decline low to mid single digits from 2021, primarily due to a return to historical margin levels in 2022 from high levels in 2021.

Net investments are expected to be around €2.5 billion, reflecting an acceleration of the company’s investments in its digital and omnichannel offering to support the accelerated sales growth. In addition, Ahold Delhaize declares that it remains committed to its dividend policy and its share buyback program in 2022. It plans to increase the annual dividend in 2022 to €0.95 per share and has previously announced a share buyback program. billion euro shares for 2022. .

The owners currently have around $10 trillion in usable equity. Is it time for a cash-out refi?

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Many people with high equity, who have not recently refinanced or purchased, could benefit from refinancing.

Getty Images/iStockphoto

Withdrawal refi rate locks increased by 9.2% between December 2021 and January 2022, according to data from the just-released Black Knight’s Originations Market Monitor report. Additionally, the average loan for purchases and refinances increased by $6,400, bringing the average loan amount to approximately $374,000.

The rise in cash-in refinances shouldn’t come as much of a surprise, say Black Knight pros: “With some $10 trillion of owner-operable equity in the market, it makes sense that we’re seeing cash-in refinance lock-ins. on the rise,” said Scott Happ, president of Black Knight Secondary Marketing Technologies.

But rates are rising, you might notice – so what’s going on? Yes, that’s true, but they’re still near historic lows, and the pros predict they’ll rise in the coming years. “Mortgage rates are still about 1% lower than 2011,” says Nadia Evangelou, senior economist at the National Association of Realtors, even as home values ​​rise. “If they bought their house 10 years ago, their house is worth nearly $200,000 more.” That said, it could mean “their new home loan will be a lot bigger,” says Evangelou.

Many people with high equity, who have not recently refinanced or purchased, could benefit from refinancing. Indeed, a previous Black Knight report found that nearly 5.9 million high-quality refinance applicants could save money by refinancing. Additionally, more than one million Americans could save $400 per month and 661,000 homeowners could save $500 or more.

But what about doing a cash refinance in particular. Greg McBride, chief financial analyst at Bankrate, says if you have significant equity in your home and can lower the interest rate on your current mortgage, a cash-out refinance can be an attractive way to leverage the equity in your home. “Even after you take money out, you’ll need to maintain a 20-25% equity cushion to get the best terms and avoid private mortgage insurance so you can’t borrow against all your equity,” says McBride.

This is not an option for everyone, even if you reach the equity threshold. You’ll need a decent credit score, sufficient equity, and a solid financial footing (this guide will help you understand the pros and cons of a withdrawal refi). And if you fail to repay the loan, you could lose your home.

If you’ve already refinanced at or below the current rate, a cash-out refinance probably isn’t your best option. “Think twice about getting cashback if it means you’ll raise the rate by half or three-quarters of a percentage point,” says NerdWallet real estate and mortgage expert Holden Lewis. “There would be no benefit to refinancing your existing mortgage and you would incur another round of closing costs to do so. Plus, if your current mortgage balance is close to 80% of your home’s current market value, you won’t be able to pull out much, or any equity, without pushing yourself for a higher rate and insurance. private mortgage,” says McBride.

Law firm Pomerantz is investigating the claims

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NEW YORK, Feb. 16 18, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.

The investigation focuses on whether Affirm and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On December 16, 2021, the Consumer Financial Protection Bureau (the “CFPB”) announced that it had opened an investigation into the payment service offered by Affirm known as “buy-now, pay-later” (“BPL”). The CFPB issued an order to Affirm, along with four other companies offering BNPL, seeking information about Affirm’s facilitation of excessive consumer debt, regulatory arbitrage and data collection. The CFPB has expressed concern about “debt accumulation, regulatory arbitrage and data collection” and is seeking data on product risks and benefits. In a statement addressed to the services of the BNPL, the director of the CFPB declared: “[t]The consumer receives the product immediately, but he also incurs the debt immediately.

On this news, Affirm’s stock price fell $11.74 per share, or 10%, to close at $99.24 per share on December 16, 2021.

Then, on Feb. 10, 2022, during market hours, Affirm’s stock price spiked after a tweet later deleted from the company’s official Twitter account posted second-quarter metrics. Then, still during market hours on the same day, Affirm tweeted a second tweet, attaching its quarterly results which included a third quarter revenue forecast that was missing some analyst estimates and included an expanded net loss.

On this news, Affirm’s stock price fell $12.13 per share, or 20.67%, to close at $46.55 per share on February 11, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SAFE Credit Union Podcast Celebrates ‘US Economy Week’ | News

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FOLSOM, Calif., February 16, 2022 /PRNewswire-PRWeb/ — As many Americans face financial challenges amid high inflation, SAFE Credit Union experts will offer key strategies on how people can invest in themselves during the Week. of the American economy – Feb. 21-Feb. 25.

Each weekday, the Perfect Cents podcast will explore ways to build financial resilience.

“The need to be financially resilient is even clearer as we experience inflation and recover from the pandemic,” says SAFE Credit Union’s assistant vice president of community relations. Rebecca Delmundo. “We look forward to reaching out to our members and our community as we share the importance of saving and budgeting during America Saves Week.”

Each year, America Saves – a national initiative led by organizations and communities – strives to transform the lives of Americans by helping them realize opportunities to strengthen their savings.

SAFE’s Perfect Cents Podcast – with Hosts Alex Becerra and Brit Kelleher and guests – will highlight this year’s five cornerstones of America Saves Week.

  • the 21st of February: “Save automatically” with Karrine Schuldheiszresponsible for payroll and benefits for SAFE Credit Union.
  • tuesday february 22: “Saving for the unexpected” with Amber DiBernardovice president of marketing and communications.
  • Wednesday February 23: “Save to withdraw” with Steve RaymondSAFE Financial Advisor.
  • Thursday February 24: “Saving by reducing debt”
  • Friday February 25: “Save as Family” with Rebecca DelmundoAssistant Vice President of Community Relations and Financial Wellness Speaker.

New episodes of the Perfect Cents Podcast stream every two weeks on Thursdays. the February 25 the episode will conclude the first season of the podcast. Season 2 will be launched the 17th of March. Podcasts can be found and downloaded at https://safe-credit-union.libsyn.com/

For more information or to get in touch with one of our podcasters or experts, please contact Robyn EifertsenSAFE Public Relations and Communications Specialist at [email protected] or (916) 792-1284.

About SECURITY

SAFE Credit Union is a leading financial institution in Northern California with over $4.4 billion of assets and more than 240,000 members. SAFE is a state-chartered, not-for-profit credit union with membership open to businesses and individuals living or working in Sacramento, Usher, yolo, Eldorado, Sutter, mound, Nevada, Solano, San Joaquin, Against Costa, Yuba, loveand Alameda counties. Insured by NCUA. http://www.safecu.org.

Media Contact

Carol FergusonSAFE Credit Union, 916-836-6318, [email protected]

Robyn EifertsenSAFE Credit Union, (916) 792-1284, [email protected]

SOURCE SAFE Credit Union

SME lender finance companies raise $144M led by SoftBank Vision Fund 2, plus $150M in debt lines – TechCrunch

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Small businesses are the backbone of Southeast Asia’s economy, but many struggle to get working capital loans because they don’t have a traditional credit history or collateral , say the founders of Finance companies. The fintech, which claims to be the region’s largest SME digital finance platform, uses alternative forms of credit scoring and has disbursed over $2 billion in finance to MSMEs since its launch in 2015. Today, the finance companies announced that they have raised $144 million in an oversubscribed Series C+ round led by SoftBank Vision Fund 2, with the participation of new investors like VNG Corporation, Rapyd Ventures, EDBI, Indies Capital, K3 Ventures and Ascend Vietnam.

It has also received $150 million in lines of credit from institutional investors, some of which have been drawn down since last year.

TechCrunch first covered funding companies when it raised its Series A in 2016. The company’s previous round was a $45 million Series C raised between 2020 and 2021. Part of its new funding, or $16 million, will be distributed to former and existing employees through its stock option plan in the form of share buybacks.

The company was founded in 2015 by Kelvin Teo and Reynold Wijaya after they met at Harvard Business School. It is now licensed and registered in Singapore, Indonesia (where it is known as Modalku), Malaysia and Thailand. He recently started operating in Vietnam and will use part of his C+ series to enter the Philippines.

The platform provides online loans ranging from $500 to $1.5 million. Since its launch, it has disbursed over $2 billion in business finance to MSMEs through over 4.9 million loan transactions. Finance company customers range in size from corner stores and e-commerce sellers to mid-sized companies, such as fast-growing startups and established corporations, who want to access revenue-based financing faster than bank loans, which typically take about two to three months to disburse, Teo tells TechCrunch.

A recent impact study calculated using Asian Development Bank methodology showed that MSMEs supported by finance companies contributed $3.6 billion to GDP and 350,000 jobs.

Covering a wide range of businesses, Teo claims finance companies have better customer acquisition costs and better loan-to-value ratios. It also accumulates data faster to train its data scoring models, which draw on traditional and alternative data sources. Traditional sources include bank statements and credit bureau information, where available, while alternatives may include transaction information, online reviews, and supply chain data feed.

One of the advantages of finance companies is that some of their data sources are proprietary, while they have exclusive rights to others through partnerships. This gives the startup an edge over new players, Teo says, as well as the amount of loan repayment data finance companies have collected since its launch. He added that the default rate of finance companies is between 1% and 2% even during the COVID-19 pandemic, which is why she was able to receive lines of credit from so many institutions.

Interest rates from finance companies are usually higher than those from banks, but less than or equal to those from credit cards. In fact, they offer a credit card with a debit line to replace corporate cards. It also partners with companies including e-commerce platforms like Shopee and Bukalapak, accounting app BukuWarung, fintech Alterra and agritech platform Tanihub that provide access to working capital loans to their SME clients. .

Teo and Wijaya argue that the main competitors of finance companies are not banks. Instead, Teo says many of his clients relied on loans from friends or family, savings and personal credit cards to fund their businesses. “The opportunity is huge because it’s a quality financing gap of US$300 billion,” he says.

In a prepared statement, SoftBank Investment Advisers Managing Partner Greg Moon said, “SMEs in Southeast Asia have historically struggled to access institutional funding and instead have been forced to rely primarily on personal financing to support growth. Finance companies are building a bridge for these companies to access more sustainable and cheaper finance by creating unique datasets of their performance and using AI-based technology to assess their creditworthiness more efficiently than traditional models.

We live on $25,000 a year and we have $15,000 in debt. Should we accept my father’s offer to pay our deficit?

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Dear Dave,

We have $15,000 in credit card debt. My husband works very hard, but only earns about $25,000 a year. We’re also living in a very old trailer right now, and I’m staying home with our newborn. My dad told us he was willing to pay off our debt if we agreed to get financial advice together and show that we really want to improve our finances. What should we do?

harpist

Dear Harper,

I wouldn’t take your dad’s money if it was a loan. If you really want to spoil family events, owe a debt to your parents. It twists you inside. And it will be especially hard on your husband. No matter what anyone else says, the borrower is still the lender’s slave.

If it’s a gift, meaning there’s no expectation of a refund, that’s another story. Still, I think your dad has a great idea in making paying off debt for both of you dependent on some sort of financial advice and making a proactive effort to turn things around, get out of debt, and save some money. – for the future of your child and for yours. I would probably do the same.

You don’t sound crazy with your money, but it’s hard to support a family on that kind of income. You and your husband should sit down together, develop a monthly budget and a realistic five-year plan to improve his earning potential. Make it a date night. Hold hands, do something inexpensive that you both love, and let him know he can be anything he wants to be. Then help him decide exactly what and where he wants to be in five years. What does he want to do and what feasible steps can he take educationally or in terms of professional training to get there?

If you want to go to work at some point when your baby is a bit older, that’s fine. I completely understand the desire to be home with a brand new baby. But hard work isn’t enough these days. You also need to increase your brainpower and market value. God bless you friends!

— Dave

BlockFi, a crypto company, reaches $100 million settlement for failing to register loan products.

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The Securities and Exchange Commission has reached a $100 million settlement with BlockFi Lending over registration failures, the first since the regulator warned last fall that it would take action against cryptocurrency firms offering lending products that have not registered them as securities or have not registered as an investment. businesses.

“Today’s regulations make it clear that crypto markets must comply with proven securities laws, such as the Securities Act of 1933 and the Investment Companies Act of 1940,” SEC Chairman Gary Gensler said in a statement Monday.

Since March 2019, New Jersey-based BlockFi has offered its customers the ability to lend digital assets to the company and earn interest on those loans, the commission said. Regulators said the program was essentially an investment contract, in which customers loaned their money with the promise that they would be repaid later. BlockFi should have registered them as securities and should have registered as an investment firm, the SEC found.

While the settlement was the first of its kind, the threat of SEC scrutiny had already derailed plans by Coinbase, the largest US-based cryptocurrency exchange, to launch a similar lending product. . Coinbase executives argued that its new product should not be considered a security, but they canceled plans for an interest-bearing Lend product in September.

BlockFi chief executive Zac Prince said the settlement was a step forward.

“Today’s milestone is another example of our pioneering efforts to ensure regulatory clarity for the entire industry and our customers, just as we did for our first product – crypto lending. “, Mr. Prince said in a statement.

BlockFi was preparing to offer a new version of its lending product called BlockFi Yield that would follow SEC rules, Prince said.

“We intend BlockFi Yield to be a new interest-bearing crypto security, registered with the SEC, that will allow clients to earn interest on their crypto assets,” he said.

The company said existing customers of its current loan product, BlockFi Interest Accounts, would be able to keep their loans open and earn interest as usual, but they would not be able to add to their positions. The company also said it would stop offering this product to new US customers. BlockFi has 60 days to meet SEC registration requirements.

Half of the $100 million settlement will go to the SEC, while the other half will go to 32 states where regulators had made similar charges against BlockFi, the commission said.

Insolvent Canadians have highest level of unsecured debt since 2016

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KITCHENER, ON, February 14, 2022 /CNW/ – The average insolvent debtor in 2021 had to $50,484 in unsecured debt, up 3.3% from 2020, the highest level we’ve seen since 2016, according to a to study led by Licensed Insolvency Trustees Hoyes, Michalos & Associates Inc. The increase in unpaid tax liabilities and student loans among insolvent debtors is driving the increase.

“Tax debt has once again become the main driver of consumer insolvency debt,” says Doug Hoes, Licensed Insolvency Trustee. “This is despite a slowdown in Canada Revenue Agency collection activity over the past two years.”

In 2021, 4 in 10 insolvent debtors owed taxes when they filed. Tax debtors owed on average $19,776 taxes and interest, going from a minimum of $15,866 the year before. Taxes owed may include personal income tax, HST, source deductions and property taxes.

“Much of the increase was due to tax liabilities created by CERB and CRB payments made in 2020, which had little or no withholding taxes,” adds Ted Michalos, Licensed Insolvency Trustee. “In our view, this increase in tax bankruptcies is just the tip of the iceberg.”

Another concerning trend is a record percentage of insolvent debtors struggling with student loan obligations. The average student loan debt among those who filed for student loans was $17,005up a staggering 11.5%, the highest level since our study began in 2011.

“Emergency student loan relief in the form of deferrals and interest relief available during COVID-19 has not helped everyone and was likely a factor in the increase in outstanding loan balances students when filing for insolvency,” says Doug Hoes. “The pandemic has worsened long-term repayment conditions for many millennials, as they are more likely to work in precarious jobs affected by COVID-19 lockdowns.”

“Highly indebted Canadians just can’t seem to take a break,” says Ted Michalos. “COVID-19 has caused our average customer’s income to drop, but their housing and other living costs continue to skyrocket, with no sign that inflation will slow anytime soon. Insolvent debtors are left with just $200 one month, after paying the necessities, to pay off their debts. It’s unmanageable.”

For more information, see Joe Debtor’s full study here: https://www.hoyes.com/press/joe-debtor/.

About Hoyes, Michalos & Associates, Inc.

Hoyes, Michalos & Associates Inc., a licensed insolvency trustee firm co-founded by Doug Hoes and Ted Michalos in 1999, established himself as the leading voice on personal debt issues in Ontario. Hoyes Michalos provides real debt management solutions to help Ontarians get out of debt, including consumer proposals and personal bankruptcy, with offices everywhere Ontario. Further information is available at www.hoyes.com

SOURCE Hoyes, Michalos & Associates Inc.

For further information: Douglas Hoyes, CPA, Licensed Insolvency Trustee, [email protected]; Ted Michalos, CPA, Licensed Insolvency Trustee, [email protected]1-866-747-0660

Getting crushed by huge interest rates on credit cards? KPRC 2 Investigates shows you how to reduce them

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SUGAR LAND, Texas – With inflation now the highest in 40 years and the Federal Reserve set to raise interest rates repeatedly, financial experts say credit card interest rates are also set to rise.

As things stand, credit card holders are paying an average interest rate of 16.3%, according to Experian.

So what can you do about it?

Christine Nguyen is a hardworking wife and mother of five and the owner of The Sweet Boutique bakery in Sugar Land.

She specializes in making beautiful designer desserts and imaginative cakes.

But she says paying the huge interest rates on the eleven different credit cards she uses is anything but child’s play!

“We are a family of seven and we are just a small business and we try to be successful every day and having to pay this exorbitant amount of interest on a credit card just hurts,” Nguyen said. .

Not only that, Nguyen and her husband have several cards with interest rates as high as 22.9% and they have accumulated around $24,000 in credit card debt.

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So you can easily see why Christine wants and needs help lowering her credit card interest rates.

Fortunately, according to a Bankrate.com study, 78% of people who took the time to ask their credit card company for a lower interest rate got one.

The problem is that most credit card holders never make that call.

So now, with the help of Richard Rosso, financial expert at RIA Advisors, we’re going to teach Christine three key steps to negotiating a lower interest rate with credit card companies.

The first step: Call your credit card company and let them know you’re a good customer.

“You have to ask them to look at your credit account history with the company and tell them, ‘I’ve never missed a payment.’ I’ve been with you for at least a year. And I rarely call to complain,” Rosso said.

Second step : Make your presentation. Ask them to lower your interest rate.

Tell them you’ve looked at other lower interest credit cards on creditcards.com, but want to stick with them.

And remember to be kind, not demanding.

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“What you don’t want is to come in and say get down on this! Do this! interest rate,” Rosso said.

If that doesn’t work, you still have one game left.

Third step: Ask for the retention service, which will tell them that you are ready to leave them eventually. That you are serious.

“Tell them, ‘Can I talk to someone about your detention service?’ Say, “Look, I might have to investigate, and I hate to do it, but I might have to go investigate some other offers and transfer my account to another credit card company. I really want to stay with you, but I have to lower this interest rate,” Rosso said.

Finally, if you can’t lower your rate with your current credit card company, Bankrate.com’s Ted Rossman has compiled a list of five incredibly low interest rate credit cards you should check out that are unrelated. to any of the mega banks.

  • There is the Navy Federal Platinum Card with an interest rate of 5.9%. 18%, depending on your credit score.

  • The Trustmark Bank Visa Platinum card at 6.15% to 11.15%.

  • The Prime Lake Michigan Credit Union card at 6.25% to 14.25%.

  • The USAA Rate Advantage Visa Platinum at 6.9% to 23.9%

  • The first Federal Credit Union Platinum technology at 6.99% to 18.00%.

Two of these cards are designed to help those who have served or are currently serving in the military, but you don’t need to have served yourself, just having a relative who has served or is serving may suffice. to qualify.

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The two credit union cards listed above are an example of how local and community banks and credit unions can sometimes offer much lower interest rates on credit cards.

As Rossman says, “I don’t think a lot of people realize how much they’re paying in interest and how much just shopping around could save them.”

Copyright 2022 by KPRC Click2Houston – All Rights Reserved.

The most common money is in relationships

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Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products.

Financial problems can be a major obstacle in romantic relationships, with nearly a third (30%) of couples experiencing financial infidelity in the past year, according to a recent US News & World Report survey.

Similar to infidelity in love, financial infidelity occurs when a partner deliberately chooses not to tell the truth, but in this case it is something around money.

While financial infidelity can certainly take many forms, survey results identified that the biggest money-related lies that emerged in relationships were secret shopping (31.4%), hiding debts (28.7%) and dishonesty regarding income (22.6%).

These numbers help paint a bigger picture of the impact of money on our partnerships. A key part of overcoming lying to your spouse about huge credit card debt you might have, or if your partner is being dishonest about how much money they actually earn, is to better understand your own personal financial management and that of the other. skills.

“Couples are likely to have different levels of financial literacy,” Beverly Harzog, credit card expert at US News & World Report, told Select. “The important thing is that they grow together and are able to compromise when it comes to budgeting and spending. There are many resources available to deepen your financial knowledge, such as books, websites, and free apps. “

In short, getting to know together how your money works and where your money goes can help you avoid long-term financial infidelity. Whether it’s reducing debt or being proactive about budgeting, leveraging resources to come to terms with each other is key.

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There is a strong correlation between financial infidelity and high debt

For many couples, carrying the weight of debt can make or break a relationship, especially when one partner is unaware of the other’s financial burden.

According to the US News survey, more than half of couples who experienced financial infidelity were also heavily in debt. On the other hand, among those who did not experience financial infidelity, only 22.7% were in debt.

Tackle your debt, or at least talking about it openly with your partner is a good first step to getting on the same page. “Couples need to be in agreement when it comes to debt reduction,” Harzog says. “You set a common financial goal and you have to work together to get there.”

What to do if you or your partner have credit card debt

“Most of the great [credit card] issuers have apps to help you track expenses,” says Harzog. “If you still have a very good credit score, consider using a balance transfer credit card to get out of debt. Once you’ve decided on a strategy to get rid of debt, cut spending to help you reach your goal.”

Balance transfer cards offer no interest on balance transfers for a set period – usually for at least six months and up to 21 months. During the introductory period of the 0% APR, you can pay off your debts without paying costly interest charges. For example, the Citi® Diamond Preferred® Card and Citi Simplicity® Card offer an introductory APR of 0% for 21 months on balance transfers from the date of the first transfer (after that, a variable APR of 13.74 % to 23.74% on the Citi Diamond Preferred card and a variable APR of 14.74% to 24.74% on the Citi Simplicity). All transfers must be completed within the first 4 months. The balance transfer fee for each card is $5 or 5% of the transfer amount, whichever is greater.

Citi Simplicity® Card

  • Awards

  • welcome bonus

  • Annual subscription

  • Introduction AVR

    0% for 21 months on balance transfers; 0% for 12 months on purchases

  • Regular APR

    14.74% to 24.74% variable

  • Balance Transfer Fee

    5% of each balance transfer; $5 minimum

  • Foreign transaction fees

  • Credit needed

Another good option that also allows you to earn money on your expenses is the Citi® Double Cash Card. This card offers zero interest on balance transfers for the first 18 months (after that, 13.99% to 23.99% variable APR). Cardholders earn 2% cash back on all eligible purchases (1% when they purchase and an additional 1% after they pay their credit card bill). Keep in mind that once the introductory 0% APR period is over, interest will kick in, so you want to make sure you pay off your balance within that interest-free period.

Citi® Dual Charge Card

  • Awards

    2% Cash Back: 1% on all qualifying purchases and an additional 1% after you pay your credit card bill

  • welcome bonus

  • Annual subscription

  • Introduction AVR

    0% for the first 18 months on balance transfers; N/A for purchases

  • Regular APR

    13.99% – 23.99% variable on purchases and balance transfers

  • Balance Transfer Fee

    For balance transfers made within 4 months of account opening, an introductory balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies

  • Foreign transaction fees

  • Credit needed

What to do if you or your partner have student loans

Does your spouse need motivation to finally reduce their student debt?

Apps like Chipper have a special roundup feature that allows users to reduce their student loans by applying spare change from their daily purchases. This tool, which should be used at the top users making the minimum monthly payment on their student loans, will ensure that you are constantly investing money in your loans without having to think about it.

Chipper can also help you or your partner develop a strategy for repaying student loans by connecting the user to forgiveness programs and income-driven repayment plans to potentially help lower monthly payments.

For private student borrowers, it’s worth considering refinancing your student loans at a lower interest rate, especially now that we hope to see rate increases in March. When you refinance your student loans, you have the option of getting a lower rate, and you can extend or shorten your loan term depending on how quickly you want to pay off your loans. This could make your monthly payments more manageable and save you money in the long run.

SoFi student loan refinance is a great option for borrowers looking to refinance at a lower rate while still having some protections should their financial circumstances change. For even better refinance terms or lower rates, applicants with a lower credit score can also apply with a co-signer.

Check out Select’s in-depth coverage at personal finance, technology and tools, The well-being and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

How to make 2022 the year you’ll be debt free

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Becoming debt free is a dream for many. And it’s a dream you may be able to achieve in 2022 – depending on how much consumer debt (debt you owe for the purchase of goods) you have and your repayment plans.

So, will 2022 be the year you finally say goodbye to your consumer debt? Here are some key questions that can help you determine if it’s possible to be debt free this year.

1. How much do you currently owe?

When trying to figure out if you can be debt free in 2022, you should first take stock of your total outstanding balance. After all, if you owe $20,000 and your annual income is $30,000, it’s highly unlikely you’ll be able to pay off all of your debt in a single year.

If you are unsure of the total outstanding balance, you can find out by logging into all of your credit accounts online or by viewing all of your loan and credit card statements. You can also pull your credit report, which will allow you to see a total list of the current accounts you have. This way you can make sure you don’t miss any when you add up your total debt.

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2. What is your current payment schedule?

After determining how much you owe, consider what you pay each month for your credit balances. If you owe $10,000 and you’re paying $500 a month, you won’t be able to pay off your debt for many years, especially since part of that monthly payment will be used to pay interest rather than reduce your main balance.

Certain debts, such as personal loans, require fixed monthly payments that will allow you to repay your debt according to a clear schedule. But with credit card debt, it can be difficult to know how long it will take to be debt free, as your minimum payment can fluctuate depending on your current balance. The good news is that there are many debt calculators you can use online to estimate when you will be debt free based on your monthly payments.

3. Can you refinance to help pay off your debts?

For many people, refinance current debt may be the best way to make reimbursement cheaper and easier. And depending on your situation, it could even get you debt free in 2022 or soon after.

Refinancing consists of taking out a new loan that is used to repay one or more existing debts. You could use a personal loan and pay off a bunch of credit cards and other creditors. Or you could do a credit card balance transfer transfer money from a high-rate credit card to a card that offers 0% interest on the transferred balance for a limited time.

If you’re considering refinancing, look at the repayment schedule for your new loan and how much you can spend on monthly payments to see if you can be debt-free this year. If you can transfer a credit card balance of $2,000 to a 0% APR card and you can afford monthly payments of $500, you should easily be able to get out of debt this year – even if your new card charges a balance transfer fee – since your monthly payments would be large enough to reduce the principal balance to $0 when you pay no interest.

CAN YOU SAVE $3,000 A YEAR? This is how much it costs on average to maintain a house

4. Can you rework your budget to devote more money to debt repayment?

Finally, ask yourself if you can rework your budget spend more money on debt repayment. The more you can send your creditors each month, the faster the principal balance will drop. If you can send enough money each month to creditors, you should be able to become debt free in 2022.

By following these four steps, you can get a good idea of ​​whether you can make this the year that you will definitely pay off your consumer debt. And remember, even if you can’t fully pay off your balance in 2022, refinancing or paying down your debt can still help free you from that financial burden as soon as possible.

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[COLUMN] Client Files Chapter 13 for $400,000 Unsecured Debt –

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[COLUMN] Client Files Chapter 13 for $400,000 Unsecured Debt –

This is what I call a borderline case of Chapter 7 with trumps. Therefore, it is better not to file chapter 7 as the asset may be lost in chapter 7, while chapter 13 is safe enough because chapter 13 trustee, unlike chapter 7 trustee, does not have the power to liquidate the assets. This is a key difference that can only be emphasized today, when home values ​​keep going up due to very low mortgage rates.

At first glance, you might be wondering why not just file Chapter 7 and wipe out all $400,000 of unsecured debt all at once? Well, you have to look at the details of the deal, especially the asset structure.

The client, husband and wife, is in his fifties. Still young. Both have owned and operated their own businesses for at least 20 years. The pandemic killed both companies.

The husband has a salary from his job that survived the pandemic. The woman also has a job that survived the pandemic.

They owe $400,000 in business loans, all unsecured. Unsecured which means they are signature loans without any collateral of any kind.

The Borderline Case Chapter 7

Under the means test, they may actually qualify for Chapter 7. But filing a Chapter 7 would be a big mistake. Why? They own a house that is currently worth $1 million. The balance of the first and only mortgage is $400,000. This means that their entire capital of $600,000 is completely exempt since they live in LA County. Sure, that sounds great on paper, but when the net worth is fully depleted at $600,000 and the Chapter 7 administrators are so excited to liquidate homes, the administrators have real estate agents who are hungry wolves waiting on the sidelines to devour your home. These real estate agents can earn $50,000 through their commissions. That’s a lot of money. When there’s that kind of money to be made, they look at you like a roast pig ready to be eaten.

Even if Zillow’s appraisal says your home has a current fair market value of $1 million, you can be sure that these hard-working realtors can have a buyer ready for at least $100,000 out of $1 million. . Remember that there is always an overbid for houses in LA because there is a shortage of houses. There is a lot of demand and a limited supply, so both of these will cause you to lose your home in a Chapter 7.

Chapter 7 The trustee has the power to sell your house

The Chapter 7 trustee has the power to sell your home for, say, $1.1 million, give you your $600,000 exempt principal in cash, and use the rest of the money to pay off a portion of unsecured debt of $400,000. What will actually happen is that the real estate agents will receive $50,000 and there will be $50,000 left over to pay the trustee’s lawyers and trustee administration costs. In all likelihood, ten cents will go to unsecured creditors of $400,000. Ridiculous isn’t it? But still true.

Chapter 13 The trustee does not have the power to sell your house

But in Chapter 13, the clients house is completely safe because the Chapter 13 trustee does not have the authority to sell an asset. There is a liquidation analysis that compares how much unsecured creditors can get in Chapter 7 versus the proposed plan in Chapter 13. So the question that clients will address in Chapter 13 is how far the payment can go. plan ? They could do this with a very low plan payment, say $300 per month, which pays $18,000 on the $400,000. This makes it a 5% plan, i.e. it pays 5% of the $400,000. Once the $18,000 is fully paid in 60 months, the difference between $400,000 and $18,000, $382,000 will be discharged.

Of course, the Chapter 13 trustee will try to get a higher plan payment arguing that the value of the house is understated, but normally an appraisal report will solve this problem, with NO RISK of losing the house because the Chapter 13 trustee does not have authority to sell the home. The worst possibility in a Chapter 13 is a higher than proposed plan payment, say an increase when the car payment is made, or the case is dismissed because it is not feasible. Unlike a Chapter 7, once the home’s value is in question, the next day there will be a for sale sign on your lawn and your home will be listed on MLS the same day.

Almost impossible to dismiss the Chapter 7 case

You might think there’s no problem because you can still get your Chapter 7 case thrown out. Think again because it’s nearly impossible to get out of a Chapter 7 case once the petition is fully filed.

Conversion from Chapter 7 to Chapter 13

The only possible way out of the Chapter 7 case once the Chapter 7 trustee has targeted your home for sale is to convert your case to Chapter 13. To convert your case to Chapter 13, you will need to prove that you have the means , income, to qualify for Chapter 13. It’s like a square circle. In chapter 7 you show that you have no disposable income whereas in chapter 13 you must show that you have disposable income to fund a plan. Either way, you’ll have to pay the full Chapter 7 trustee administration fee in your Chapter 13. Good luck on that. Just a motion to employ a real estate agent for the Chapter 7 trustee is expensive. By package, I mean between $5,000 and $10,000. By the time your home is listed on MLS, Chapter 7 trustee administration costs can be as high as $35,000 for two weeks of work. Nothing unusual about that. It’s all in the playbook. Trust me on this; you never want your house in the crosshairs of the chapter 7 trustee. You’ll be in the lion’s den like Daniel. But in Daniel’s case, our Almighty Lord God shut all the lions’ mouths in the den and Daniel walked away without a scratch the next morning.

God’s plans are to prosper you, not to harm you

Despite all your troubles, you can rest assured that the plans of our God are to prosper you, not to harm you. “For I know the plans I have for you,” says the Lord, “plans to prosper you, not to harm you, plans to give you hope and a future,” Jeremiah 29:11. What could be clearer than that God so loved that he sent his beloved only Son, Jesus Christ, who also loved us so much, to die for us, to give us a chance to pass the eternity with them in heaven. What a brilliant and glorious plan for us underserved humans!”

Our God can and does wonders beyond our imagination. When you think all is lost, divine intervention comes out of nowhere to solve your problems. “Don’t remember old things and don’t consider things of the past. Behold, I will do something new, now it will arise; won’t you realize it? I will even make a way in the wilderness, rivers in the wilderness,” Isaiah 43:18-19.

Believe it or not, Walt Disney asked for Chapter 7 not once, but twice before his global Disney empire became a success. He became a billionaire after getting rid of all his debts twice. Milton Hershey, of Hershey Chocolates, the world’s largest chocolate company, also filed for Chapter 7 once before becoming a successful billionaire.

If you need debt relief, schedule an appointment to see me. I will analyze your case personally.

* * *

Disclaimer: None of the above is considered legal advice to anyone. There is absolutely no attorney-client relationship established by reading this article.

* * *

Lawrence Bautista Yang specializes in bankruptcy, business, real estate and civil litigation and has successfully represented over five thousand clients in California. Please call Angie, Barbara or Jess at (626) 284-1142 for an appointment at 20274 Carrey Road, Walnut, CA 91789 or 1000 S. Fremont Ave., Mailstop 58, Building A-10 South Suite 10042, Alhambra, CA 91803.

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UNCLE Credit Union Celebrates 65 Years of Service to the Bay Area | Regional News/CA

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UNCLE Credit Union, which serves four counties in the eastern region of the San Francisco Bay Area and Central Valley, celebrates its 65th anniversary this year.

A $636 million full-service financial institution, UNCLE has been a trusted provider and major contributor to the communities it serves since its inception in 1957. The multi-award-winning organization has been recognized by both its industry and its membership area for excellence in service, culture, leadership, philanthropy, financial strength and performance.

The credit union has its roots in the radiation laboratory at the University of California, Livermore, which would later become the research and development institute known as Lawrence Livermore National Laboratory. Four physicists employed by the lab pooled their funds to form Radiation Laboratory Livermore Credit Union – providing financial services to the entire lab community. As the cooperative grew in size and financial strength, it expanded its charter and expanded its offerings to include an evolving line of competitive products and services. In 1988 it was renamed UNCLE Credit Union, an abbreviated form of University of California Livermore Employees Credit Union.

“This anniversary holds special significance for us as an organization dedicated to promoting the financial success of our members. It is symbolized by the blue sapphire – which represents loyalty, prosperity, trust and integrity,” said UNCLE Credit Union Chairman of the Board, Chung Bothwell. “As a co-op, our earnings are reinvested into the credit union to provide the products and personalized service that help our members achieve important life goals and create a more secure financial future. For six and a half decades, the trust and faith entrusted to us has enabled us to prosper and prosper for the benefit of all of our members.

Stan Kroenke’s bet on the Los Angeles Rams could pay off in the Super Bowl, but he spent nothing on Arsenal in January amid battle for Champions League places

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Stan Kroenke bet big on the Los Angeles Rams this season and they were rewarded with a Super Bowl berth.

Kroenke, of course, is also the owner of Arsenal and some fans may look enviously at how far ‘Silent Stan’ has gone to try and earn some silverware.

Getty Images – Getty

Kroenke’s LA Rams reached the Super Bowl

The two clubs’ philosophies this season and their apparent ambitions are opposites.

The Rams have done everything they can to try to win a Super Bowl before their opportunity slips away, while with Arsenal it’s a much longer process, focused on developing young players.

Arsenal’s 2021 summer strategy showed that their goals were to buy young players and try to develop them into world-class players.

All six players manager Mikel Arteta signed were under 23 and he is hoping for a return on their £140million investment.

The Gunners have a real chance of finishing in the top four this season, which would be the first time since 2015/16, and giving them a huge boost for next summer and beyond.

Arteta's Arsenal made no additions in January, despite challenging top four

Getty

Arteta’s Arsenal made no additions in January, despite challenging top four

Many teams would play in January and make signings to give them the edge, but Arsenal and Kroenke took a more measured approach.

The only player signed was Colorado Rapids defenseman Auston Trusty, a club Kroenke also owns, and loaned out directly.

Arteta reportedly traveled to the United States to discuss transfers with the owner, but they ended the January window with no additions to reinforce now.

The LA Rams have taken the complete opposite approach to a Super Bowl run.

Coach Sean McVay and general manager Les Snead essentially traded the future of the NFL franchise to sign experienced players.

Rams spent big to get Stafford from Detriot

Getty

Rams spent big to get Stafford from Detriot

In 2019, they traded their 2020 and 2021 first-round picks to sign Jalen Ramsey from the Jacksonville Jaguars.

Early in the season, they traded their future 2022 and 2023 first-round picks to sign quarterback Matthew Stafford from the Detroit Lions.

They even traded several picks during the season to bolster their roster, giving away picks later to get running back Sony Michel from the New England Patriots.

While Von Miller joined the Denver Broncos in exchange for second- and third-round picks in 2022.

Superstar wide receiver Odell Beckham Jr has also been picked in free agency to add another experienced and talented player to their roster.

Draft picks are a huge commodity in the NFL, but the Rams have taken the approach of ditching them and they’re one game away from seeing Kroenke’s gamble pay off.

In the 2022 draft, they won’t make a selection until the fourth round, but fans probably won’t care if they beat the Cincinnati Bengals in Sunday’s Super Bowl.

Beckham joined the Rams midway through the 2021 season

Getty Images – Getty

Beckham joined the Rams midway through the 2021 season

Kroenke invested a lot of money in the LA Rams, building them the impressive SoFi Stadium which will also host the Super Bowl.

It cost more than £4billion, nearly double the original projection, and he was forced to take out two more loans from the league, totaling £725million, to complete the project.

“We have been working on this project for several years and it is wonderful to see it come to fruition. Reach the big game, the big game in our house,” Kroenke told NFL Network after the Rams won the NFC Championship Game.

“It means a lot to the region and we are proud of it. The economic benefits, I’m really proud to come to Inglewood.

Arsenal fans can watch with a touch of envy just how involved Kroenke is with the Rams and his willingness to support their ‘win now’ approach.

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Breakup Fees & SOFR Loans: Breakup is still expensive | Moore & Van Allen LLC

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[co-author: Ashley Longman]

It may not be Taylor Swift’s next song, but an early payment changes the lender-borrower relationship. In an exchange, we all know there are consequences. Rather than a “break cost,” the swap market simply calls it an early termination fee. In lending, traditionally, less time/energy was spent negotiating terms requiring the borrower to compensate a lender for breach costs. Today, however, it is a hot topic. Specifically, in the context of SOFR loan prepayments where the concept of “break costs” is a nebulous/unclear concept, leaving some market participants to wonder, in a post-LIBOR world, “Are there still “break costs” for loans simply due to prepayment?

Hot plug: The term SOFR has break costs for the same reason as LIBOR. The same goes for Daily Simple SOFR, although the costs may be lower than the Term SOFR. As explained in more detail below, “break costs” describe the costs to the bank of managing expected cash flows between SOFR assets and liabilities (largely funded by SOFR assets). Breakage costs are not opportunity costs. The following outlines some aspects of bank risk management in broad strokes, but the basic concept is there, and that basic concept justifies a cost break.

LIBOR-World: Breaking costs = LIBOR deposits

In the days of LIBOR, it was not uncommon to see a loan include a concept of compensating the bank for “breaking costs” (even if there was no prepayment penalty). While the same loan provided any guidance as to the calculation of any breakage fees, it was often based on the concept of what the bank might otherwise have earned on a “LIBOR deposit” or otherwise put its funds to use. This provision may be the source of this confusion. It clearly links break costs to a concept of opportunity costs, i.e. costs reflecting what the bank would otherwise have gained by purchasing a LIBOR asset at the start of the interest period.

SOFR-World: Breakage costs = ???

Now parties are seeing prepayment of a SOFR loan and struggling to justify the breakage fee because, to paraphrase, “If the bank needs a SOFR return for the rest of the interest period, it can simply participate in the overnight repo market”. First, let’s leave out whether it’s even possible for a bank to be prepaid on day T and have the same funds available for the repo market that night. The thought is not wrong, but if you prepay forward SOFR, the chances of forward SOFR being perfectly equal to real SOFR are close to zero. The question is not what the bank might have gained otherwise. The question is whether the bank will have met expectations for its cash outflows (eg, SOFR liabilities) based on the receipt of forward SOFR from the borrower. If the bank does not receive forward SOFR to cover its SOFR liabilities, the bank may need to find another SOFR asset and purchase it (or write off a SOFR liability) as part of its broader management of the bank’s entire risk portfolio. The bank won’t just bet (or expect) that the overnight repo market will be close enough to the forward SOFR.

Context: 2020 Banking and risk management

Some parties may view the business of the bank as making loans and then using the income from that loan to fund other loans or pay normal expenses. It’s the old “Bailey Building and Loan” model, and George Baily is everybody’s banker. It’s your bank of the 1920s/30s (and the best Christmas movie, sorry elf).

In today’s banking industry: The goal is to minimize the time a bank has static money on its books. If cash leaves the bank, then the bank generates revenue from (i) fees and/or (ii) spreads. Here, “spreads” really means any concept where the bank asks a customer to pay $XYZ for a product, and that value is higher than cost to the bank to provide this product.

What is also important to realize here: Cash outflows are not always a one-time event (eg, the granting of a loan) – i.e. a bank may hold a liability that requires many recurring payments. Example: an exchange. The diagram below shows how banks will think about swaps and fund the bank’s obligations on that swap. It’s not “unique” or “Ed, of course… in some cases, but not all”. A big nuance missing here is that sometimes the ‘hedging asset’ can be unique (as described below using a swap) or the bank can engage in portfolio hedging (so not 1 to 1 ). Also, rather than a cost of “1.0% per month”, the cost could be a one-time payment for the purchase of SOFR paid tickets/titles.

In any case, the bank does not commit to a SOFR liability (here, a commitment to pay SOFR on a swap) without an asset that is expected to produce the return on SOFR. An important function of treasury/risk management teams is to manage this risk. The bank does not want to store the risk ofWell I don’t know what SOFR will do tomorrow, but I bet we can afford it.” To this end, the bank wants a Term SOFR asset to pay for any Term SOFR liability.

Outage Costs = Risk Management Costs

Banks are trying to maintain cash outside from the bank in sync with incoming money in from (i) the Federal Reserve, (ii) assets purchased or (iii) assets produced by the bank. The problem with (i): you have to repay that loan. The problem with (ii): these usually cost more than (iii). This makes (iii) a fairly efficient means of financing banking activities.

This is why your SOFR loans always require a provision for cancellation fees. If the borrower repays early, the bank will incur expenses because it needs to adjust its expectations of the SOFR revenue from that loan. If a term SOFR loan is prepaid on Monday, then on Tuesday the bank needs an asset to produce that term SOFR expectation. Good risk management here is not “Hey, just do overnight restsbecause the forward SOFR rate on January 1 is not impacted by a sudden drop in SOFR rates during this interest period. So: For the bank to pay forward SOFR, it needs a forward SOFR asset. If he can’t find a perfect match, then not only are the costs of buying an imperfect asset “breaking costs”, but any delta that costs the bank money must also be included in the “breaking costs”.

To be fair, the costs may be low on a loan-by-loan basis, but a bank will want to consider this on a portfolio basis. For a SOFR Daily Simple loan, the costs may be even lower, but there is always a good chance that a bank will not have funds at the door on T-day, and the same funds are used on the repo market that night (so there will always be a cost to the bank to plug the hole during the period when the prepaid funds cannot otherwise be tapped).

These are not prepayment fees/penalties. It is simply the bank demanding that the borrower return the entire bank for incurring new costs to manage a new risk created by the prepayment.

There may be other costs as well, but the above is one cost that makes sense to me and provides at least one good reason why (i) lenders should retain “break-fee” provisions and ( ii) a borrower trying to negotiate it, should at least appreciate the bank is not unreasonable. Ultimately, it’s up for negotiation (like anything else), but perhaps that context can steer the negotiation away from focusing solely on whether or not there are breakout costs.

If breakage fees exist, how much $$$$ are the breakage fees?

Good question. Some LIBOR loans never went into this detail, others did and based it on a LIBOR deposit. A possible answer would be to use the USD SOFR ICE swap rate (HERE), whenever ICE starts posting it. This rate, as of the prepayment date, applied to the prepaid amount for the remainder of the interest period or fiscal quarter, on an ACT/360 basis, should be a fair estimate of the cost to the bank. That said, it can be argued that a premium could be added as there are transaction costs beyond what can be captured by the USD SOFR ICE swap rate. To be clear, there are also other possible measures (for example, simply opt for Term SOFR or Term SOFR + Adjustment for the remainder of the period of interest). Perhaps that is where the parties should focus their energy today. Not on the existence of breakage costs, but rather on “They exist, but breaking up with our new partner SOFR is expensive.”

INVESTOR ALERT: Kirby McInerney LLP continues investigation into shareholder claims on behalf of Affirm Holdings, Inc. (AFRM)

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NEW YORK–(BUSINESS WIRE)–The law firm Kirby McInerney LLP investigation of potential claims against Affirm Holdings, Inc. (“Affirm” or the “Company”) (NASDAQ: AFRM). The investigation focuses on whether Affirm violated federal securities laws and/or engaged in other illegal business practices.

Affirm, headquartered in San Francisco, CA, operates a digital and mobile commerce platform in the United States and Canada. Affirm’s platform includes a point-of-sale payment solution for consumers, commerce solutions for merchants and a consumer-centric app.

On December 16, 2021, the Consumer Financial Protection Bureau (the “CFPB”) announced that it had launched an investigation into the payment service offered by Affirm known as “buy-now, pay-later” (“BPL”). The CFPB issued an order to Affirm, along with four other companies offering BNPL, seeking information about Affirm’s facilitation of excessive consumer debt, regulatory arbitrage and data collection. The CFPB has expressed concern about “debt accumulation, regulatory arbitrage and data collection” and is seeking data on product risks and benefits. In a statement to BNPL services, CFPB Director Rohit Chopra said: “[t]The consumer receives the product immediately, but he also incurs the debt immediately. On this news, Affirm’s stock price fell $11.74 per share, or approximately 10.6%, from $110.98 per share to close at $99.24 per share on December 16, 2021.

Then, on February 10, 2022, Affirm announced details of the company’s financial performance, including that its sales grew 77%, in the second quarter of fiscal 2022 (ended December 31, 2021), suggesting that revenues would exceed expectations. Later in the day, the company deleted the previous tweet and announced its second quarter 2022 financial results, including a net loss of $159.7 million that missed analyst estimates of $100.3 million. on average. On this news, Affirm’s stock price declined $16.00 per share, or approximately 21.4%, from $74.68 per share to close at $58.68 per share on February 10, 2022.

If you have purchased or otherwise acquired Affirm securities, have information or would like to know more about such claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by completing this Contact formto discuss your rights or interests in relation to these matters at no cost to you.

Kirby McInerney LLP is a New York-based law firm specializing in securities, antitrust, whistleblower and consumer litigation. The company’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm is available on the Kirby McInerney LLP website: http://www.kmllp.com.

This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.

Sarasota County Educational Foundation to Name Two Suncoast Credit Union Scholars in 2022

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The coast of the gift

The Suncoast Credit Union Foundation is partnering with the Sarasota County Education Foundation to provide two $2,000 scholarships to high school graduates of the class of 2022. High school graduates of the class of 2022 from the service territory of 21 Suncoast Credit Union counties have the opportunity to apply for financial support to further their education, thanks to an investment of $116,000 in scholarships by the Tampa Credit Union Foundation. Applications are open through March 1 and are available at www.EdFoundationSRQ.org/SCUScholarship. This year’s Suncoast Credit Union Scholars program represents an ongoing philosophy of the foundation to support education initiatives and the well-being and potential of children. Since its creation in 1990, the Foundation has awarded more than $33 million, including more than $2.4 million in scholarships.

“We believe the best way to build better communities is to invest in education and health initiatives for children,” said Cindy Helton, CEO of the Suncoast Credit Union Foundation. “Through the Suncoast Credit Union Scholars program, we have the opportunity to invest in individual human potential, which is especially rewarding.”

Crowdfunding campaign helps Queen’s University international student pay for 4th year tuition – Kingston

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An international student at Queen’s University was unable to afford his fourth-year tuition when his parents, back in Ecuador, faced financial hardship due to COVID-19.

So, in December, he launched a $90,000 fundraising campaign, counting on the generosity of others.

This generosity paid off for Gilmar Gutierrez.

Read more:

International medical student at Queen’s University turns to fundraising to pay tuition

Her story, commitment, and funding from others made a dream come true, and since reaching that total, Gutierrez has been able to pay her tuition and will graduate from medical school later this year.

“The support has been absolutely amazing, beyond any of my dreams, and I’ve said it on social media as well,” Gutierrez says.

The story continues under the ad

“I will never have enough words to thank everyone who has donated to truly express the gratitude I feel. So the only thing I can do to show it is in my actions as a professional of health.

“I will give back and do my best to help others the same way I received all this help.”

Gutierrez, who just completed his externship at Providence Care Hospital, was more than overwhelmed with financial support.

So did others, who thought, “Why would anyone care about an Ecuadorian international medical student?

“I think the context of the pandemic also plays an important role, and we can all relate to that,” says Wenjue Knutsen, adjunct associate professor at Queen’s University.

“And I’m thinking of Canadian values, our core values, our core belief in education and health care. He’s going back to help Canadians, so I think that also reflects Canadian values. »

Read more:

Mohawk College student seeks tuition assistance after pandemic hits family business hard

Tuition fees were officially paid last Friday.

“It’s like the heaviest weight I’ve ever felt on my shoulders has finally been lifted,” Gutierrez says.

The story continues under the ad

“It’s incredible.”

© 2022 Global News, a division of Corus Entertainment Inc.

Trinidad Loan Association appoints new CEO

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News



The Trinidad Building and Loan Association (TBLA) has appointed Christopher Lewis as CEO. –

LA Trinidad Building and Loan Association (TBLA) has appointed Christopher Lewis as CEO and Secretary of the Board.

In a press release Thursday, Chairman Bliss Seepersad said his experience should foster good stakeholder relations and meet the needs of the organization.

“We welcome Christopher to the Trinidad Building and Loan Association. He brings a wealth of experience and we look forward to working with him as we continue to fulfill the purpose of the organization.

“Mr. Lewis will play a pivotal role as we build the value of the organization for its members, depositors, mortgagors, staff and other stakeholders in the very different times the world currently faces; and beyond.”

TBLA said Lewis is excited to build on the company’s foundations and introduce its products and services to a new generation of customers – a new suite of services that will resonate with the needs and lifestyles of young investors. .

Lewis holds two MBAs, a long-time member of ACCA and a member of the Institute of Chartered Accountants of TT.

He has also served as CEO of major retail organizations, managing director of a financial services company, and held senior finance and management positions in several large local and regional corporations.

Seepersad also recognized the work of outgoing CEO Leslie Nelson and thanked him for his service which it described as unwavering.

“Mr. Nelson has been with the organization for over a decade. His unwavering leadership has served us well and leaves us in a position of strength to face the current challenges of our country. We wish him a happy retirement. »

TBLA, established in 1891, is an Aboriginal financial institution that provides savings and mortgage financing for home ownership and credit facilities for its members.

Amer Sports’ debt rose thanks to faster-than-expected deleveraging

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S&P Global Ratings raised its debt rating on Amer Sports due to expectations that the sporting goods giant will report a “resilient” in 2021 with an estimated turnover of 2.5 billion euros, up 7 to 8% compared to pre-pandemic levels.

The rating agency expects this performance to allow Amer Sports to make progress in reducing its debt. This expects S&P Global Ratings-adjusted debt to EBITDA to decline to nearly 9.0x (including a €1.3 billion intercompany loan) from 12.5x in 2020.

The rating agency added that although Amer Sport’s ongoing investments to further develop its direct-to-consumer distribution channel, primarily in China and the United States, are expected to result in negative free operating cash flow of €80-90m (including lease payments) in 2022, he believes his liquidity profile will adequately fund the expansion.

S&P upgraded its ratings on Amer Sports and Company B’s €1.7 billion senior secured term loan and €315 million revolving credit facility to maturity from “B-” to “B” 2026. The stable outlook reflects S&P’s view that Amer Sports’ gradual EBITDA expansion will support deleveraging at 7x-8x in 2022 despite rising input costs and logistical constraints.

Amer Sports is majority controlled by Anta Sports but still has an outstanding debt. Amer Sports brands include Salomon, Arc’teryx, Peak Performance, Atomic, Suunto and Wilson.

S&P wrote in its analysis:Amer Sports’ resilience in the face of COVID-19 challenges has enabled strong cash management and accelerated deleveraging at less than 10x. We estimate Amer Sports significantly reduced leverage in 2021, achieving S&P Global Ratings Adjusted Debt to EBITDA of nearly 9.0x versus 12.5x in 2020. This is driven by strong increases sales of highly profitable product segments such as footwear and clothing (around 55% of estimated revenue in 2021), as well as strict management of working capital and investments (capex) over 2020-2021. The disposal of non-strategic assets, such as Precor in the fitness segment, also fueled deleveraging, allowing the company to repay the drawn portion of its €315 million revolving line of credit (RCF) at maturity. 2026 and €100 million add-on to term loan B. Our calculation of net debt at the end of 2021 considers cash on the balance sheet of around €500 million. Adjusted debt includes a €1.3 billion intercompany loan which was funded by the proceeds of the €1.3 billion Term Loan A issued by Amer Sports Holding (Cayman) Ltd., outside the group restricted. Amer Sports provides payment of interest due on Term Loan A through regular cash interest payments on the intercompany loan.

For the full year 2021, we expect Amer Sport sales to approach 2.5 billion euros, representing growth of around 15% year-on-year. Our estimates exclude revenue from Suunto (maker of sports watches, dive computers and precision instruments) as this division was declared a discontinued operation in 2021. Amer Sports recently agreed to sell Suunto’s business to Dongguan Liesheng Electronic Technology Co. Ltd., a Chinese technology company focused on smart and sports wearables. We expect Suunto to have had dilutive effects on margins and required relatively high investments to support new product development. We expect the transaction to close in the first half of 2022. The sale is in line with Amer Sports’ commitment to focus on footwear and apparel, direct-to-consumer expansion through store openings ( mainly in China and the United States) and e-commerce, as well as the development of leading brands such as Salomon, Arc’ Teryx, Wilson and Peak Performance. At the same consolidation scope (excluding the fitness segment, since its sale in 2021, and the upcoming sale of Suunto), Amer Sports’ turnover should increase by around 20% in 2021 compared to 2020 and exceed 2019 ( before the pandemic) from 7 to 8 percent. We expect footwear and apparel to have led growth primarily due to strong demand from Chinese consumers (representing around 12% of total sales in 2021). Although mobility restrictions and social distancing measures related to COVID-19 reduced store traffic, new store openings contributed significantly to the company’s revenue growth, as did the increased demand on e-commerce platforms.

We assume that Amer Sports will benefit from positive consumer demand for sportswear and footwear over the next few years. We believe that e-commerce (approximately 28% of global sportswear sales in 2021) will continue to overtake in-store retail. We believe demand will continue to be supported by consumers increasingly participating in outdoor activities and the continued relaxation of dress codes in many developed countries. Geographically, China is likely to be the fastest growing market, growing around 12% over the period 2022-2026; according to Euromonitor, a growing population of runners is driving the growth of the market. We also believe that the 2022 Winter Olympics in China will drive more interest in winter sports in the region, supporting the sales recovery in the winter sports equipment segment. In China, local brands are gaining ground, mainly after the March 2021 controversy over Xinjiang cotton caused a drop in sales of Western brands. In this context, Anta (major shareholder of Amer Sports) has expanded its domestic market share in China to almost 16% in 2021 in retail value, demonstrating a growing and established network in the country, which could support the strategy of expansion of Amer.

We expect Amer to increase profitability in 2022 despite increased market volatility. In 2021, Amer achieved an adjusted EBITDA margin by S&P Global Ratings of 12.0% to 12.5%, compared to 11.8% in 2020. This despite an increase in input and transport costs over the course of the year. year and non-recurring costs of 30 to 35 €. million related mainly to the reorganization of the group. Although inflationary pressure and logistical disruptions will likely persist, at least in the first half of 2022, we believe the business could increase profitability to nearly 13% in 2022, supported by a significant reduction in one-time costs, its ability to increase in price sales, and an improved product mix through faster growth in highly profitable categories such as footwear and apparel. In addition, Amer Sports’ continued direct consumer penetration will support profitability through better control of selling prices in directly operated stores and online sales, as well as new product launches at higher price points. students.

Negative free operating cash flow (FOCF) expected in 2022 limits Amer Sports’ standalone solvency. share of sales in the direct-to-consumer channel thanks to the opening of selected new stores, varying between 40 and 50 openings per year, mainly in China and the United States. exit. At the same time, capital spending will likely peak over the next two to three years to support the acceleration of new store openings and IT investments. We assume that capital expenditure will reach €120-130 million in 2022, a significant increase from the €70-75 million forecast at the end of 2021. That said, we believe that the company has enough cash to support its expansion strategy with around €500 million of balance sheet cash expected at the end of 2021 and full availability under its RCF of €315 million maturing in 2026. A significant portion of existing cash comes from proceeds from the sale of Precor (approximately €367 million in 2021). We have not taken into account in our assumptions the expected proceeds from the announced sale of Suunto since we expect them to be insignificant.

Our “B” rating on Amer Sports incorporates a notch of support from its major shareholder Anta Sports. We consider Amer Sports to be moderately strategic for its main shareholder. Indeed, Amer Sports plays a vital role in Anta’s strategy to promote winter sports in China. We consider the continued operational support of Anta Sports to support the growth of Amer Sports in China, where the shareholder can leverage its established presence in the country and its knowledge of consumers. We note that Amer Sports sales in China have grown over the past three years, representing approximately 12% of total revenue in 2021 compared to 4% in 2019. We also observed limited financial support received from Anta materialized in the agreement to delay approximately €12 million of interest payments on the €1.3 billion intercompany loan in 2020; they were then paid in 2021.

“The stable outlook reflects our view that, despite higher input costs and logistical challenges, Amer Sports will continue to benefit from favorable consumer demand for activewear, particularly apparel and footwear. , and the continued expansion of direct-to-consumer sales, primarily in China and the United States, of its flagship brands.

“We expect the gradual strengthening of the business EBITDA to support deleveraging to 7x-8x in 2022 from 9x in 2021. This despite a negative FOCF of €80-90m (including lease payments) to support expansion projects.”

Patriot League Men’s Basketball Recap Presented by PenFed Credit Union (2.9.22)

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IN BOSTON UNIVERSITY TERRIERS (17-9, 8-5 PL) 75, ARMY WEST POINT BLACK KNIGHTS (13-12, 7-6 PL) 74
Case Gym / Boston, Mass. 7 p.m. (ESPN+)

THE SCORE OF THE BOX
BOSTON –Grad student forward Sukhmail Mathon’s old-school three-point play with a second left in regulation time gave Boston University a 75-74 victory over Army West Point at Case Gym on Wednesday evening.
* Two points behind in time, Mathon received a pass from graduate student guard Javante McCoy in the paint, scored, fouled and made the ensuing free throw to give BU the dramatic victory . Mathon finished with nine points and eight rebounds.
* Terriers forward Walter Whyte scored a season-high 21 points on 5-for-8 3-pointers, and McCoy added 13 points, nine rebounds and six assists to help BU split the season series with Army West Point.
* Sophomore guard Daman Tate scored 12 points to lead a BU bench unit that outscored Army Reserves, 24-4.
*Senior guard Josh Caldwell and second-year guard Jalen Rucker each scored 19 points for the Black Knights. Rucker finished with five assists, while Caldwell added five steals.
*Junior forward Chris Mann had a double-double with 17 points and 10 rebounds, while sophomore forward Chris Peterson added 11 points.
RECAP: ARMY WEST POINT | UNIVERSITY OF BOSTON

AT HOLY CROSS CRUSADERS (7-16, 5-6 PL) 68, LOYOLA MARYLAND GREYHOUNDS (13-11, 7-6 PL) 64
Hart Center/Worcester, Mass. 7 p.m. (ESPN+)

THE SCORE OF THE BOX
WORCESTER, Mass. –First-year guard Kyrell Luc went 4-for-4 from the free throw line in the final 30 seconds of the game to help Holy Cross hold off Loyola Maryland in a 68-64 win at Hart Center on Wednesday night.
*Luc finished with 18 points, seven assists and three steals, while senior forward Gerrale Gates scored a team-high 23 points to help the Crusaders share the season streak with the Greyhounds.
* Sophomore Bo Montgomery finished with 13 points on 6-of-8 shooting and pulled out five rebounds for Holy Cross.
* Loyola Maryland junior guard Cam Spencer scored a game-high 27 points to go along with five rebounds, three assists and two steals.
* Freshman forward Veljko Ilic added 11 points and senior guard Kenneth Jones contributed 10 points and four assists.
RECAP: LOYOLA MARYLAND | THE HOLY CROSS

AT COLGATE RAIDERS (13-11, 9-2 PL) 78, LEHIGH MOUNTAIN HAWKS (9-16, 7-6 PL) 62
Cotterell Court/Hamilton, NY 7 p.m. (ESPN+)

THE SCORE OF THE BOX
HAMILTON, NY –Senior guard Nelly Cummings led three Raiders in double figures with 19 points as Colgate beat Lehigh 78-62 to help Matt Langel become the winningest coach in program history.
* Langel, a three-time Patriot League Coach of the Year, earned his 166th career win as Colgate extended his winning streak to five games.
* Senior guard Tucker Richardson had 17 points and eight rebounds, and junior forward Keegan Records had 13 points and six boards to help the Raiders share their season streak with the Mountain Hawks.
*Senior center Nic Lynch led the Mountain Hawks with 18 points and nine rebounds.
* Lehigh senior forward Jeameril Wilson and freshman goaltender Keith Higgins Jr. finished with 11 and 10 points, respectively.
RECAP: LEHIGH | COLGATE

AT BUCKNELL BISON (6-19, 3-10 PL) 68, AMERICAN EAGLES (6-17, 2-9 PL) 66
Sojka Pavilion/Lewisburg, PA 7 p.m. (ESPN+)

THE SCORE OF THE BOX
LEWISBURG, Pa. –Sophomore forward Andre Screen matched his career high with 20 points to lead Bucknell to a 68-66 win over American at Sojka Pavilion.
* Connected screen on 9 of 13 from the ground to help the Bison share the season streak with the Eagles.
* Bucknell shot 68% from the floor and 55% from beyond the arc to take a 39-28 halftime lead.
*Senior guard Andrew Funk and junior guard Xander Rice finished with 16 and 11 points as the Bison held off the American’s late run.
* Graduate student Stacy Beckton Jr. scored nine of 18 points in the final six minutes of the game to bring the Eagles within two points after trailing to 16 points in the second half.
*American finished the game on a 15-2 streak, beating Bucknell 38-29 in the second half.
* Sophomore forward Matt Rogers and senior guard Jaxon Knotek scored 12 and 10 points respectively for the Eagles.
RECAP: AMERICAN | BUCKNEL

ABOUT THE PATRIOT LEAGUE

The Patriot League is in its fourth decade of academic and athletic achievement, continually demonstrating that student-athletes can excel both academically and athletically without sacrificing high standards. The Patriot League’s athletic success is achieved as its member institutions remain committed to its founding principle of admitting and graduating student-athletes who are academically representative of their class. Participation in athletics at Patriot League institutions is considered an important part of a well-rounded education.

Student loan: how to pay off your debt

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The Wellness Wednesday Financial Education series returns February 16, focusing on student loan debt. The seminar will consist of two one-hour sessions at noon and 3 p.m. Eastern Standard Time (9 a.m. and noon Pacific Standard Time).

Student debt can take away some of the joy of getting a college degree. According to the Department of Education, 36.3 million federal student loan recipients owe more than $1.3 trillion.

“Veterans, like many other Americans, may have borrowed to help pay for education costs,” said Wayshak Hill, VA program analyst for the Wellness Wednesday Financial Education program. “This seminar will cover repayment options and discuss earning strategies.”

Register here or email [email protected] for more information. Wellness Wednesday financial education seminars are offered free of charge to transitioning military members, veterans, spouses, families and caregivers. The seminars are sponsored by VA and, in partnership, presented by Prudential Financial Services.

Previous seminars in the series have covered women and money, taxes, buying a home, managing a job change, paying for college, budgeting, savings funds. emergency and advice for a healthy financial life. The seminars have consistently received high marks from attendees.

Participants also have access to the Financial Wellness Center, a learning-focused digital portal with more than 100 short educational articles and interactive tools that include financial self-assessment, budgeting, and fitness help and advice. student loan.

In addition to the Wellness Wednesday Financial Education series, please review VA’s many financial resources that can help you and your family manage, secure, and protect your financial health and well-being.

For more information, please contact [email protected] or call 1-844-592-8993.

*These links are provided for informational purposes only. VA does not officially endorse or endorse Prudential or their products, nor has it performed any due diligence regarding Prudential or their products.

The company’s expansion into the industrial automation market continues

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MONTREAL , February 9, 2022 /PRNewswire/ – Kinova®, a leading private developer of robotic solutions in the medical and industrial markets, announced the pre-closing of investments totaling $40 million (32 million US dollars), led by Graham Partners with participation from Export Development Canada (EDC). The robotics company is also pleased to announce the preliminary conclusion of an agreement with the government of Canada under the Strategic Innovation Fund (SIF) for a total of $20 million (16 million US dollars).

These investments will accelerate the development and commercialization of Kinova’s solutions. Additionally, the Canadian robot maker will use the funds to augment engineering resources to meet global customer demands. New products for industrial markets will be announced later in 2022.

“Kinova stands to benefit from Graham Partners’ deep medical and industrial technology expertise, as well as experience deploying automation solutions across its portfolio of leading manufacturing and industrial technology businesses. Graham Partners will leverage its industry resources, operational expertise and knowledge to support Kinova’s growth,” said Charles DeguirePresident and CEO of Kinova.

Denis DuneganManaging Director of Graham Partners, added, “We believe Kinova’s cobot technology and expertise in medical and industrial applications is unique in the robotics industry. We are excited to leverage our expertise to help drive value creation and growth at Kinova. Marc BelangerChief Financial Officer of Kinova, added, “We are delighted to have Graham Partners and EDC as shareholders. They will allow Kinova to continue its impressive international growth, both organically and through acquisitions.

“Canadians are developing innovative solutions to real-world problems and our government will always be there to support them. Kinova’s robotic products demonstrate this kind of innovation and we’re proud to support them as they increase manufacturing, create high-quality jobs and help grow from Canada world leadership in the next generation of robots,” said the Honorable François-Philip ChampagneMinister of Innovation, Science and Industry.

The company was supported in the transaction by Fasken Martineau DuMoulin LLP as legal counsel. Dechert LLP and Stikeman Elliott LLP acted as legal advisors to the investors.

About Kinova
Kinova Inc., headquartered in Boisbriand (Greater Montreal), Quebec, Canada, is a leader in innovative robotics. Founded in 2006, the company designs and manufactures robots for various markets, including medical robotics, assistive robotics, research and education, and more recently industrial and professional automation. Kinova’s ingenious technology enhances and extends customer capabilities with a human-first approach to meet the growing need for robotics in increasingly complex industries. For more information, visit kinovarobotics.com

About Graham Partners
Graham Partners is a private equity firm focused on investing in technology-driven companies that drive innovation in advanced manufacturing, driving product substitutions, raw material conversions and disruptions to traditional end markets . Since the company was founded in 1988 by Steven Graham, Graham Partners has completed more than 140 acquisitions, joint ventures, financings and divestitures. Committed capital raised since inception through Graham Partners funds as well as Graham-led co-investments totals approximately $3.6 billion, which differs from regulatory Assets under management. Based in the suburbs philadelphia creamthe company has access to extensive operating resources and industry expertise and is a member of the Graham Group, an alliance of independent operating companies, investment firms and philanthropic entities, all of which share the common entrepreneurial heritage Donald Graham. For more information, visit grahampartners.net

About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses of all sizes succeed on the world stage. As global risk experts, we equip Canadian businesses with the tools they need – the business knowledge, financing solutions, equity, insurance and relationships – to grow their business with confidence. Underlying all of our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges caused by the global response to COVID-19, the Government of Canada expanded EDC’s national capabilities to December 31, 2021. This expanded mandate will allow EDC to extend its support to companies focused on the domestic market. For more information, visit edc.ca

SOURCE Kinova Robotics

Poll: Only half of Americans have more emergency savings than credit card debt

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Many Americans are just a burst pipe, a car breakdown or a sick pet away from costly credit card debt, according to a new Bankrate survey.

Just over half (53%) of American adults have more money stashed away in an emergency savings fund than they have accumulated in credit card debt, the January survey found. 2022 to more than 1,000 American adults.

And more than one in five US households (22%) have more credit card debt than the amount they have saved for unexpected expenses. The good news is that this number is down five percentage points from Bankrate’s January 2021 emergency savings survey.

Finally, 15% of households have no credit card debt, but no emergency savings. It’s also a precarious financial situation, says Greg McBride, CFA, chief financial analyst at Bankrate: “Without emergency savings, you could be one unexpected expense away from having high-cost credit card debt.

Millennials are more likely to have more card debt than savings

Millennials were more likely of all generations to say the amount of credit card debt they owe is more than the amount they saved for a rainy day.

Here are the percentages of each generation who have more credit card debt than emergency savings, according to the survey:

  • 32% of millennials (26 to 41 years old)
  • 24% of Generation X (aged 42-57)
  • 23% of Gen Zers (aged 18-25)
  • 15% of baby boomers (aged 58-76)

The lack of an emergency fund can mean you’re borrowing money from friends and family or pulling out a credit card if something goes wrong, says Melinda Opperman, president and chief relationship officer at Credit.orga non-profit organization that provides consumer education and debt relief.

Using a credit card can add more pressure if you are in debt. And you might not even have the option if your cards are maxed, Opperman points out. Being in this kind of financial difficulty can exacerbate the stress of a daily accident like a flat tire. “It becomes a huge emergency and you panic. It can ruin your whole day,” she says.

But an emergency fund can turn the same problem into a minor inconvenience, she says. “It gives you such peace of mind; you can’t put a price tag on it.

The pandemic is hitting the wallets of young adults the hardest

Many households hid money during the COVID-19 pandemic because they were spending less on expensive categories like travel and receiving help through federal stimulus checks and other relief programs. .

“During the pandemic, many people have made progress toward achieving their financial goals,” says Bruce McClary, senior vice president of memberships and communications at the National Foundation for Credit Counseling (NFCC).

In fact, a 2019 pre-pandemic Bankrate poll found that only 44% of Americans then said they had more emergency savings than credit card debt, nearly 10 percentage points lower than the new survey.

But overall, about one in three American adults say their emergency savings account balance has gone down over the past two years. Compared to before the pandemic, the survey found that:

  • 34% have less emergency savings now
  • 33% have the same amount of emergency savings
  • 27% have more emergency savings now

The generation most likely to have less cash savings now than before the pandemic: Gen Z. 46% of Gen Zers have less money in emergency savings now than before the onset of the pandemic. pandemic in early 2020. Just over one in four in this age group (28%) have more.

“Young workers were the hardest hit by unemployment and income disruption early in the pandemic,” McBride says. “And that took a toll on their emergency savings.”

This is likely due in part to the fact that many young adults work in service industries in fields that have been hit hard by the pandemic, including travel, restaurants and hospitality, McClary says.

Upper-middle-income households are more likely to have more card debt than their savings

Households earning between $50,000 and $74,999 a year are the most likely (38%) to have more credit card debt than emergency savings, the survey found.

This may be partly because consumers in higher income brackets also tend to have higher credit limits on their cards, Opperman points out. Here are the percentages in different income brackets whose credit card debt exceeds their emergency savings:

  • Low income (less than $30,000 per year): 31%
  • Lower middle income ($30,000 to $49,999 per year): 26%
  • High income ($75,000 and over) — 14%

“The impact of every dollar on a person’s budget is magnified when they make less money,” McClary says. “And the cost of high-interest debt can also put additional pressure on comparatively low-income households.”

Top Priority: Get Out of Debt or Save

The poll found that half of Americans (50%) are focused on increasing their savings while nearly one in three (32%) prioritize paying down debt. According to the survey, less than one in 20 households (4%) focus on both simultaneously.

Older millennials and Gen Xers were split almost evenly between prioritizing debt repayment and emergency savings. But nearly two in three Gen Zers (64%) said they prioritize increasing emergency savings over paying down debt (30%). Young baby boomers (aged 58-67) also prioritize saving (57%) over debt repayment.

The survey found that Americans who have been building up their savings have made a lot of progress recently. The number of households who report having more savings now than before the pandemic increased by 10% compared to July 2021.

Many struggle with whether to prioritize paying off debt or saving. It makes sense to make savings your number one priority, up to a point, says Opperman. “Until you get an emergency nest egg of at least $1,000, I would keep that as my goal,” she says.

How to pay off debt and increase emergency savings

Do you lack sufficient emergency savings to get you through a crisis? Here are five expert tips for reducing any credit card debt you have while increasing your emergency savings:

  1. Rearrange your budget. Many people get tricked into “emergencies” which are actually irregular expenses they forgot to budget for, says Kristy Marshall, founder and CEO of Money Bliss. For example, the car insurance premium you pay every six months, the property taxes you pay every year, or your dog’s annual checkup at the vet. “Not having money set aside for these things is usually what causes people to have an emergency,” Marshall says.
  2. Start small with emergency savings. Don’t have an emergency savings account? Start small, Opperman recommends. At Credit.org, they recommend starting by saving $500 in an emergency savings account, she says. Once you hit that goal, aim to hit $1,000, she says. Even having a small amount of emergency savings can help you handle day-to-day issues like replacing a $100 tire. You can start by transferring as little as $25 into a savings account each payday, she says. Try using a savings calculator to set an achievable and trackable goal.
  3. Take the challenge to save money. Participate in a money saving challenge can be a great way to get started or create an emergency fund, says Marshall. Her favorite challenge: a no-spend month where you write down the items you want to buy, but don’t buy them. Instead, save that money. And check social media for a local “buy nothing” group you can join to clear the clutter and pick up the items you want without spending any money. “At the end of the month, decide what you missed out on and what you actually want in your budget,” she says.
  4. Minimize interest payments. High interest rates can eat up a significant chunk of your monthly credit card payments and make paying off your debt much longer. Try to lower your credit card interest rate if possible, recommends McClary. If you have weak credit and are struggling to make payments, this may mean setting up a debt management plan (DMP) through a credit counseling agency. non-profit. They may be able to negotiate lower interest rates with your credit card companies, he says. And if you have good credit and can easily make your payments, you might want to look for an interest-free credit card offer.
  5. Grow your emergency fund. Once you’ve established a small emergency fund and are on track to pay off your credit card debt, build your fund. But what is a good amount of emergency funds? Many personal finance experts recommend that you strive to have six months of expenses to protect you in the event of a major emergency like job loss or illness. Start by putting a small percentage of your income into your emergency account and then build it up over time, McClary says. For example, build up to saving 10% of your income for one year, he says, then increase it to 15% the next year.

One final thought: It’s important to know that sometimes you’ll have to spend some money from your emergency fund, and there will be progress and setbacks, McClary says.

“Your emergency fund is supposed to be there for you to tap into if you have an emergency,” he says. “So don’t worry.”

NAFCU, CUNA support FinCEN database

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Source: Shutterstock.

NAFCU and CUNA have come out in favor of a new proposal for a beneficial ownership database from the Financial Crimes Enforcement Network (FinCEN).

The Corporate Transparency Act (CTA), a section of the Anti-Money Laundering Act passed in 2020, requires entities to report beneficial ownership information and corporate applications directly to FinCEN.

In separate letters from FinCEN this week, credit union labor organizations urged network officials to align reporting requirements with the Bank Secrecy Act (BSA) and anti-money laundering and anti-corruption financing. Terrorism (AML/CFT) in which credit unions regularly operate.

According to the letter sent by CUNA Senior Advocacy Director and Attorney Elizabeth Sullivan, she said, “Credit unions hope that the database contemplated in the CTA will provide significant and significant relief from the burden created by the rule. CDD final. The likelihood of this outcome depends on FinCEN having in place a CDD-compliant database and a framework that includes appropriate safe harbors to ensure that financial institutions accessing it more efficiently obtain accurate information. and useful.

In NAFCU’s letter from regulatory affairs adviser Aminah Moore, the association urged FinCEN to adopt shorter reporting deadlines for existing companies and ensure verification of information provided.

“It is important for FinCEN to provide beneficial ownership information to credit unions with consent from a reporting company in a timely and efficient manner, as credit unions must perform CDD analysis at account opening. Any delays in transferring beneficial ownership information will hamper the new account opening process and may cause credit unions to duplicate efforts, collect the same information and only increase compliance burdens.

Both groups said they would like FinCEN to slow implementation of its proposed requirements until more work is done on the actual language of the rule.

“CUNA strongly urges FinCEN to wait to finalize the language of these reporting requirements until it has first enacted revisions to the CDD regulations to align the two rules. FinCEN should await the end of the comment period on this proposal, and FinCEN has carefully digested comments from affected financial institutions. Only after FinCEN considers the implications from the perspective of reporting entities and financial institutions subject to CDD requirements can it confidently create a functional and consistent framework that will operate effectively and efficiently. efficient.

NAFCU added further recommendations to the agency before implementing the proposal. Recommendations included:

  • Ensure review and oversight expectations are consistent with those of other federal regulators.
  • Establish data security protocols.
  • Maintain clarity and simplicity in communications.

I took out student loans for my now imprisoned son. I owe $50,000. Please help.

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From student loan forgiveness to refinancing, a few options to consider.

Getty Images/iStockphoto

Question: I just turned 60 and will probably have to work another 20 years. I currently owe about $50,000 in Parent PLUS loans which have grown to this amount over the years. My son cannot afford to pay his share, due to past, present and future incarceration. Can I get relief or am I stuck with the full loan amount? Do I have to make an agreement to pay according to my income?

Have a question about getting out of a student loan or other debt? Email [email protected]

Responnse: Unfortunately, despite the situation, you are probably responsible for at least some of this debt. Indeed, Parent PLUS loans are the sole responsibility of the borrowing parent, regardless of their child’s ability to pay. “Parent PLUS borrowers don’t have as many repayment options as undergraduate borrowers if they’re having trouble repaying their debt,” says Anna Helhoski, student loan expert at NerdWallet. That said, Leslie H. Tayne, financial attorney and founder of Tayne Law Group, says you might not have to pay the full amount. “And even if you do, there are ways to tailor the required payments to your budget,” says Tayne. Here are some options suggested by the pros, from loan forgiveness to refinancing your student loans.

Student Loan Forgiveness Programs

If you haven’t already, your best bet might be to consolidate your Parent PLUS Loans into Federal Direct Loans and then apply for the Income Contingent Repayment (ICR) Plan, both of which can be done online for free. . “Under the ICR plan, your required payments will be based on your income and could be as low as $0 per month. Then, after you’ve made qualifying payments for 25 years, you may be eligible for the remaining balance to be written off,” says Tayne.

Keep in mind, however, that you must recertify your income each year and may have to pay tax on the amount remitted. As one of four income-based repayment plans, ICR caps payments at 20% of a parent’s income or what you would pay with a fixed monthly payment over 12 years. “Borrowing parents can use the Federal Student Aid Loan Calculator to find out how much they would pay under this plan,” says Helhoski.

It is also possible to get forgiveness earlier through the Public Service Loan Forgiveness Program (PSLF). “To qualify, you must work for the government or a nonprofit organization and make ten years of qualifying payments under the ICR plan,” Tayne says. Some people may even qualify for $0 payments if their income is very low.

“You can also explore the Tiered Repayment Plan and the Extended Repayment Plan,” says Tayne. “If you think your income will increase over time, GRP might work for your budget because your payments would increase every 2 years and you would pay off the debt in 10 years.” Under ERP, payments would be spread over 25 years, which means you would pay significantly less each month.

There are extreme situations where loans can be forgiven, such as if your son dies or becomes totally and permanently disabled. Or, if your son’s school closed before he graduated or soon after he retired from school, you may qualify for debt forgiveness. It’s also worth mentioning that some employers offer student loan assistance and an employee rebate, including companies like Ally, Estée Lauder, Google, Hulu, and Peloton.

Student Loan Refinance

Finally, refinancing debt into a private loan might be a good idea if your finances are sound and you want a lower interest rate. However, “you will lose the benefits of federal student loans, such as access to the ICR plan if you do. If you think you can secure a path to forgiveness, it’s best not to refinance,” Tayne says. .

The case is progressing; Consumer files final brief before case is reconsidered

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On February 1, 2022, Mr. Hunstein filed the last brief he can file before Tthe Eleventh Circuit Court of Appeals will hear oral arguments in Atlanta on February 22, 2022 in the case of Hunstein v Preferred Collection & Management Services, Inc, 994 F.3d 1341 (11th Cir. 2021). The brief was filed in response to Preferred’s Memory of January 18, 2022in which he urged the Eleventh Circuit to affirm the dismissal of the case brought by the district court.

For a recap of how we got here see this article.

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In his brief, Mr. Hunstein argued:

  • Any transmission of data to an entity not explicitly listed in the FDCPA is prohibited; otherwise, debt collectors could label anyone their agent, and the definition of a debt collector in the FDCPA would be meaningless.

insideARM point of view:

Mr. Hunstein’s argument that separate companies cannot act as agents is perplexing sincene of the many definitions of the word “agent” is a “person or company who serves. » Although he mentions this position several times in his brief, Mr. Hunstein does not explain it. He attempts to claim that the letter seller was not an agent in the “traditional sense”, but his brief does not explain what that “traditional meaning” is or why the letter seller in this case did not meets these criteria.

Hopefully the Eleventh Circuit will see this argument for what it is: an empty shell with no substance. That said, if the court finds that a third party cannot be an agent unless they meet some unknown “traditional meaning” criteria, this could provide an excellent defense to the next creditor who is embroiled in a lawsuit for an alleged FDCPA violation of its collection agency.

9 reasons why you should consider joining a credit union

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Ferran Treatise Soler/Getty Images

If you’ve toyed with the idea of ​​joining a credit union because you think you and your money might be better served, you might be right.

GOBankingRates’ Best Banks 2022: Discover the Best Banks, Credit Unions and More
Find out: how much you should have in your savings account at each stage of life

“We are now facing inflation rates not seen in decades,” said Cyndie Martini, CEO and President of Member Access Processing. “Now, more than ever, we need our money to work smarter for us – and that’s not in a bank.

“We all know that the historical reason for going to a bank was the convenience of having more branches. But the pandemic has taught us that we can do almost any banking activity online. From now on, the need for bank branches is less than ever. Smart consumers are turning to credit unions.

Of course, just like banks, not all credit unions are created equal. So before you commit to joining, it’s important to do your research on the best credit unions. However, before you do, here are nine reasons why you should consider joining a credit union to help you decide if it’s the right financial decision for you.

GOBankingRates’ Top Picks: Best Savings Accounts of 2022

They belong to their members

“Credit unions are not-for-profit financial cooperatives and answer only to their members, which means no outside stakeholders are involved,” said Steve Sexton, personal finance expert and CEO of Sexton. Advisory Group. “Cooperatives are controlled by their members and always operate in their best interests. As not-for-profit organizations, credit unions do not make risky investments or pressure their members to sign up for certain accounts or services. »

More: Can you open a bank account without a social security number?

Their customers are not just members, they are stakeholders

“Banks operate to generate revenue for their shareholders,” said Ahren Tiller, founder and supervising attorney of the Bankruptcy Law Center. “On the other hand, credit unions are member-owned, so in a credit union you are not just a member, but also a stakeholder. If you have $20 in your account, you have the same voting rights as someone who has $20,000 in their account. This means that as long as you are a member, you have a say in deciding the direction of the union.

See: GOBankingRates’ Best Online Banks of 2022

They offer personalized services

“They are able to offer more personalized services where members can feel their concerns are addressed quickly and thoroughly,” said Erin Ellis, Certified Financial Advisor at Philadelphia Federal Credit Union. Some of these services may include:

  • Financial literacy programs, events and seminars that can help you take control of your finances and grow your money
  • Tools to help you calculate mortgages and investments and create savings plans
  • Advice on important financial matters to guide you in making the right financial choices

Read more: Gen Z and Millennials Favor National and Online Banks, Survey Shows – What Does This Mean for the Future of Credit Unions?

They are as safe as banks

“Credit unions are safe because they are backed by the National Credit Union Share Insurance Fund (similar to the FDIC), which insures member credit union accounts for up to $250,000,” Sexton said.

They offer higher savings rates than the big banks

“Credit unions pass on more of their profits to their members,” said Steffa Mantilla, Certified Financial Education Instructor and CEO/Founder of Money Tamer. “That means savings accounts and CDs will have higher savings rates than you can find at big banks.”

Read: Bank accounts that will help you supplement and expand your social security

They usually offer better loan rates than banks

“Credit unions generally have lower interest rates on loans,” said Molly Ford-Coates, Certified Financial Advisor (AFC®) and founder and CEO of Ford Financial Management. “Having a lower interest rate means you’ll pay less over the life of the loan.”

They don’t focus on fees

“When money has less value, customers can’t afford to give money away or make it earn less,” Martini said. “Credit unions offer lower fees and lower or no ATM fees.”

And bank charges can really add up. According to Forbes Advisor’s 2021 Survey of Current Account Fees, monthly maintenance fees average $5.14 across all financial institutions, with credit unions charging among the cheapest, if at all . And the average fee for an out-of-network ATM is $1.77, but many credit unions either don’t charge this fee or refund a certain number of transactions each month.

Boost your finances: 7 simple habits that will make you richer in 2022

They work with people who have credit problems

“Joining a credit union is fantastic for people with low credit because they are more likely to accept someone in that situation and still offer a good interest rate or APR on a loan” , said Jenna Carson, financial partner at Money Lucid. “That’s a fantastic benefit that a bank just won’t give you.”

They work with small businesses

“If you’re running a small business, credit unions have more flexible terms,” ​​Mantilla said. “They will work with you to give you a loan or an advance where a big corporate bank wouldn’t. Credit unions have the opportunity to help small businesses that big banks would miss. »

More from GOBankingRates

About the Author

Cynthia Measom is a personal finance writer and editor with over 12 years of collective experience. His articles have appeared in MSN, Aol, Yahoo Finance, INSIDER, Houston Chronicle, The Seattle Times and The Network Journal. She attended the University of Texas at Austin and earned a Bachelor of Arts in English.

Tax cuts, COVID and crime top list of issues for new session – NBC Connecticut

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Tax cuts, criminal justice reform and the future of COVID-19 restrictions are among the many issues Connecticut lawmakers are expected to address in the 2022 legislative session on Wednesday.

This will be the third year in a row that the General Assembly will have to complete its work during a lingering pandemic. Lawmakers plan to hold virtual meetings for at least the month of February.

But unlike the last two legislative sessions, this year Democratic Gov. Ned Lamont faces re-election in November, along with the entire Democratic-controlled General Assembly, and politics are expected to play a bigger role. in the three-month session. Already, it looks like some of the issues will likely carry over to the gubernatorial race.

Here’s what to expect:

tax cuts

Lamont is due to present state lawmakers with proposed changes to the two-year, $46.3 billion state budget passed last year. Considering the state expects to have an operating surplus of $1.48 billion by the end of the current fiscal year, Lamont and Republicans have proposed tax cuts.

Lamont unveiled a five-part plan last week that includes expanding eligibility for the state property tax credit against personal income tax; the capping of local property taxes on motor vehicles; accelerate the planned and progressive exemption of income from pensions and annuities from personal income tax; and expanding eligibility for a student loan tax credit program for employers who help repay their workers’ loans.

Meanwhile, Senate Republicans have already proposed temporarily cutting Connecticut’s sales tax rate to help families hit by inflation. They called for reducing the tax from 6.35% to 5.99% and eliminating the additional 1% tax on meals from February 15 to the end of calendar year 2022.

Lamont’s expected Republican rival in the race for governor, Madison businessman Bob Stefanowski, criticized the governor’s plan for failing to address what is needed to make Connecticut more affordable. He also called for lowering the sales tax, eliminating the tax on food and restaurants, and making gasoline cheaper.

The Connecticut Business and Industry Association criticized the governor’s plan for not doing enough to help businesses, many of which are struggling with labor shortages and the lingering effects of the pandemic. The CBIA has proposed a number of initiatives, including exempting safety clothing and personal protective equipment from sales tax and using more federal coronavirus relief funds to reduce the estimated debt. $1 billion from the state unemployment fund that businesses will eventually have to repay.

“Too many Connecticut small businesses – critical to our prospects for recovery – are struggling and desperately need help dealing with labor shortages, inflation, pending tax hikes to pay off state unemployment fund debt and many other challenges,” said AABC President and CEO Chris. DiPentima said in a statement.

COVID-19 Restrictions

One of the first tasks state lawmakers face when the session convenes is deciding what to do with the governor’s roughly 12 remaining executive orders, which are due to expire when his public health and civil preparedness emergencies expire on Feb. 15. measures, including face mask and vaccination requirements.

A vote to extend some of Lamont’s orders could come in the early days of the session. On Wednesday, the governor suggested there could be changes to mask-wearing rules in schools.

“Well, if the numbers keep going in the right direction, we’re going to have a really solid conversation with the Legislative Assembly over the next week. Let’s see where we are in a few days, but there could be some changes coming,” he said. However, Lamont still wants the state Department of Education to have the ability to reinstate mask wearing if it becomes necessary.

Other issues

Even though the legislative session is shortened this year, given the November election, lawmakers are still expected to debate a wide range of topics, including juvenile delinquency. While some Democrats argue that there is a pandemic-driven increase in certain criminal activity in Connecticut that all states have experienced, Republicans argue that there has been an increase in violent crime specifically in Connecticut that must be addressed this session.

“Connecticut must act to make our state a safer place. We need action,” said state Senate Minority Leader Kevin Kelly, R-Stratford.

Meanwhile, expect lawmakers to debate how the state should spend the remaining $232 million in federal COVID relief funds, a figure that will likely change after Lamont releases his budget proposal. the state.

They are also likely to discuss how best to spend $5.38 billion in federal funding Connecticut expects to receive over the next five years; whether to set aside more federal funds to improve ventilation in schools; how to help non-profit community organizations in financial difficulty; whether to help terminally ill patients die; how to deal with various labor shortages; whether to ban flavored vaping products; how to address racial disparities in public health; and whether to try again to impose limits on solitary confinement in prisons after Lamont vetoed such a bill last year, among other issues.

WA leads in new loan commitments

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December 2021 saw an increase in the value of new lending commitments across Australia, with the total housing average increasing by 4.4% to a record $32.8 billion, according to the latest publication. lending indicators from the Australian Bureau of Statistics.

Owner-occupied housing increased by 5.3%, with Western Australia recording a 7.1% increase.

Along with Victoria (up 5.2%) and New South Wales (up 3%), WA led the overall rise in homeowner loan commitments.

REIWA Chairman Damian Collins said that based on their 2022 forecast of 10% price growth and values ​​remaining the same or rising, he would expect to see increased funding from the lodging.

“We have to remember that WA is only just above where it was in 2014 in finance,” he said.

“Most other cities across the country are much higher than they’ve ever been before and we’re really only getting back to the levels we’ve seen in the past for homeowner lending.

“When you get into investor lending, we’re still a long way from where we were in previous peaks, around $6 million a month.”

In 2006, 2007, 2013 and 2014, WA’s investor lending peaked at around $1 billion.

“I anticipate that overall we will see more investors in 2022, which will increase investor financing, and the homeownership market will remain strong, especially the upgrade market,” said M. .Collins.

“Other states may slow down a bit next year, but we’ll likely continue to grow as we catch up with some of their growth.”

According to Collins, interest rates have been low, prompting people to buy and upgrade their homes.

“People have taken the opportunity, they are transacting more and the prices are going up,” he said.

An increase in transactions at higher prices means more loans, which leads to a substantial increase in redemption across the country.

The lending market’s senior financial adviser, Greg La Brash, said he hadn’t seen anything to suggest lending would slow.

“When COVID-19 hit, there was a real push towards refinancing,” he said.

“Homeowners and investors knew they could at least take control of their finances by finding a better interest rate or consolidating their debt.

“That trend has now turned to buying.”

The loan market saw a 54% increase in disbursements in the last quarter compared to the previous three months, according to La Brash.

‘I’ve been in mortgage brokerage in Perth for over 10 years and this is the busiest I’ve seen,’ he said.

“I’ve had more inquiries from investors lately, reflecting the long lines we’re seeing of tenants going to rental property inspections across the city.”

Inflation data, Peloton takeover? and Disney earnings lead the week ahead

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After a stronger-than-expected jobs report on Friday, investors will focus on new data on consumer inflation and earnings from Disney, Uber and Chipotle Mexican Grill, to name a few.

Additionally, Peloton, which is also reporting profits, will attract even higher interest from investors after rumors swirled about a takeover over the weekend.

THIS IS WHERE PRICE VALUATION HITS CONSUMERS THE MOST

Teleprinter Security Last Change Change %
Me: DJI DOW JONES AVERAGES 35089.74 -21.42 -0.06%
SP500 S&P500 4500.53 +23.09 +0.52%
I: COMP NASDAQ COMPOSITE INDEX 14098.006675 +219.19 +1.58%

This as US stocks ended Friday after another week of volatility fueled by Facebook losing the most value on record, while Amazon posted the biggest gain in value on record.

Teleprinter Security Last Change Change %
Facebook META PLATFORMS INC. 237.09 -0.67 -0.28%
AMZN AMAZON.COM INC. 3,152.79 +375.88 +13.54%

FOX Business takes a look at the next events likely to move Financial markets in the coming days.

Monday 2/7

Investors will have the first chance to react to reports that Amazon and Nike may be considering Beleaguered Peloton for an acquisition. The news, reported by The Wall Street Journal, sent shares soaring more than 30% in extended trading Friday night.

Teleprinter Security Last Change Change %
PTON INTERACTIVE PELOTON INC. 24.60 +0.35 +1.44%
AMZN AMAZON.COM INC. 3,152.79 +375.88 +13.54%
NKE NIKE INC. 145.39 +0.08 +0.06%

Kicking off the week for earnings will be Hasbro and Tyson Foods before the market open and Simon Property Group, Take-Two Interactive and Tenet Healthcare after the bell. On the economic data side, investors will take note of the latest information on consumer credit.

Teleprinter Security Last Change Change %
AT HASBRO INC. 93.92 +0.14 +0.15%
TSN TYSON FOODS INC. 88.29 -2.03 -2.25%
GPS SIMON REAL ESTATE GROUP INC. 145.18 -0.38 -0.26%
THC TENET HEALTHCARE CORP. 72.84 -2.36 -3.14%

Meanwhile, in the world of politics, President Biden will welcome German Chancellor Scholz to the White House. The leaders are expected to discuss “their common commitment to ongoing diplomacy and joint efforts to deter further Russian aggression against Ukraine”, as well as “ending the COVID-19 pandemic, addressing the threat of climate change and to promote economic prosperity and international security”. “, according to White House press secretary Jen Psaki.

(AP Photo/Michael Sohn, Pool/AP Newsroom)

tuesday 2/8

Earnings on Tuesday’s schedule include Coty and Harley-Davidson before market open and Chipotle Mexican Grill, Lyft, Peloton Interactive and Spirit Airlines after the bell.

Teleprinter Security Last Change Change %
COTY COTY INC. 8.47 +0.07 +0.83%
PORK HARLEY-DAVIDSON INC. 35.75 +0.15 +0.42%
GCM CHIPOTLE MEXICAN GRILL INC. 1,483.44 +36.00 +2.49%
LYFT LYFT INC. 37.68 +1.32 +3.63%
PTON INTERACTIVE PELOTON INC. 24.60 +0.35 +1.44%
TO SAVE SPIRIT AIRLINES INC. 21.73 +0.04 +0.18%

Tuesday’s economic data will include the NFIB’s business optimism index, the international trade deficit for December and real household debt for the fourth quarter of 2021.

Wednesday 2/9

The parade of results takes place on Wednesday with CVS Health, Fox Corp, parent company of FOX Business and Fox News, as well as YUM! Brands before market opening. Mattel, Uber and Disney will be in the spotlight after the bell.

Teleprinter Security Last Change Change %
SVC CVS HEALTH CORP. 108.49 -0.23 -0.21%
FOXA FOX CORP. 40.69 -0.21 -0.51%
YUM YUM! BRANDS INC. 125.27 -0.08 -0.06%
CARPET MATTEL INC. 21.28 -0.09 -0.42%
UBER UBER TECHNOLOGIES INC. 37.05 +2.51 +7.27%
SAY THE WALT DISNEY CO. 142.02 +1.99 +1.42%

Inventories and wholesale sales, weekly mortgage applications and weekly Energy Information Administration crude inventories will dominate Wednesday’s economic data. US oil hit $92 a barrel last week, a 7-year high.

Teleprinter Security Last Change Change %
USO US OIL FUND LP 64.91 +1.40 +2.20%

Other notable events include Samsung’s Galaxy Unpacked event, which is expected to unveil new flagship smartphones to compete with Apple’s iPhone 13 and iPhone 13 Pro.

Teleprinter Security Last Change Change %
AAPL APPLE INC. 172.39 -0.29 -0.17%

(AP Photo/Tristan Werkmeister/AP Newsroom)

Thursday 2/10

Coca-Cola, Kellogg, PepsiCo, PG&E and Twitter will top the earnings list ahead of Thursday’s market open, while Expedia and Zillow Group will be among the companies targeted after the bell.

Teleprinter Security Last Change Change %
KO THE COCA-COLA CO. 60.96 -0.65 -1.05%
K KELLOGG CO. 61.58 -1.89 -2.98%
EGP n / A n / A n / A n / A
TWTR TWITTER INC. 36.94 +2.46 +7.13%
EXPE EXPEDIA GROUP INC. 185.31 +1.65 +0.90%
ZG ZILLOW GROUP INC. 47.74 +1.17 +2.51%

Thursday will be the busiest day for economic data with the consumer price index, federal budget deficit and initial and continuing unemployment claims.

Consumer prices +7.3% Jan. estimate

Consumer prices, which rose 7% to their highest level since 1982 in December, are expected to rise 7.3%, economists estimate.

friday 2/11

The week will end with earnings from Dominion Energy, Newell Brands and Under Armor before the market opens.

Teleprinter Security Last Change Change %
D DOMINION ENERGY INC. 80.18 -0.83 -1.02%
NWL NEWELL BRANDS INC. 9:33 p.m. -1.99 -8.53%
UAA UNDER ARMOR INC. 19.57 +0.39 +2.03%

The University of Michigan will also release its consumer confidence index and 5-year inflation expectations.

Patriot League Announces Women’s Basketball Recap Presented by PenFed Credit Union (2.5.22)

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At HOLY CROSS CRUSADERS (15-7, 9-2 PL) 74, ARMY WEST POINT BLACK KNIGHTS (12-9, 6-5 PL) 54

The score of the box
WORCESTER, Mass. – Holy Cross picked up their ninth league win with a 74-54 win over Army West Point on Saturday afternoon.
* Holy Cross senior guard Avery LaBarbera had his 15th double-double of the season with 23 points and 10 rebounds. She also had five assists and a block.
* Sophomore forward Janelle Allen recorded career highs in points (18) and rebounds (8), while sophomore guard Bronagh Power-Cassidy added 13 points and three assists in the win.
* Army had a pair of players scoring in double digits, including junior forward Sabria Hunter (13) and season-high sophomore guard Sam McNaughton (12).
* Hunter also grabbed 11 rebounds for his 10th double-double of the season.
Recap: Army West Point | the holy cross

at COLGATE RAIDERS (4-18, 2-9 PL) 74, AMERICAN EAGLES (13-7, 6-4 PL) 60

The score of the box
HAMILTON, N.Y. – Four Colgate players scored double digits in the team’s 74-60 victory over American on Saturday afternoon.
* Junior guard Alexa Brodie scored a season-high 23 points. Freshman goaltender Taylor Golembiewski (15), freshman goaltender Morgan McMahon (13) and sophomore forward Tiasia McMillan (12) also contributed to the balanced offensive effort.
* Brodie, Golembiewski and McMillan added six rebounds each.
* The Raiders shot a season-high 52.7 percent from the field (29 for 55).
* The Eagles were led by second-year forward Emily Johns with 16 points and four assists, followed by senior forward Taylor Brown with 14 points.
* The American bench outscored Colgate Reserves, 22-4.
Recap: american | Colgate

LEHIGH MOUNTAIN HAWKS (15-6, 7-3 PL) 68 to BOSTON UNIVERSITY TERRIERS (13-9, 9-2 PL) 65
The score of the box

BOSTON- A 19-point outing from Megan Walker propelled Lehigh to a 68-65 victory at Boston University on Saturday afternoon.
* Sophomore guard Mackenzie Kramer finished with 11 points and four assists while Jamie Behar added 10 points, five rebounds and two steals.
* With the win, Lehigh holds an 11-9 all-time series advantage against Boston U.
* BU freshman guard Alex Giannaros led all players with 22 points, followed by junior guard Sydney Johnson with 19 and sophomore guard Caitlin Weimer with eight.
* Junior forward Maren Durant peaked in rebounds (15) and blocks (3).

Recap: Boston University | Lehigh



at NAVY MIDSHIPMEN (7-14, 4-7 PL) 61, LOYOLA MARYLAND GREYHOUNDS (4-17, 1-10 PL) 54
The score of the box

ANNAPOLIS, Md. – Senior guard Jennifer Coleman had her 15th double-double of the season in Navy’s 61-54 win over Loyola Maryland.
* Coleman led the team with 16 points, 10 rebounds and four assists.
* Sophomore guard Sydne Watts and junior guard Mimi Schrader both had 13 points.
* Navy went 16 for 18 (.889) from the free throw line.
* Loyola freshman guard Lex Therien notched his 10th double-double (18 points, 10 rebounds) this season to go along with four steals.
* Senior guard Taleah Dixon finished with 17 points, five rebounds and three assists.

Recap: LoyolaMaryland | Marine


Fans can visit the official Patriot League website – www.patriotleague.org – for up-to-date information on men’s and women’s basketball schedules in addition to the other 22 League sports. Almost all Patriot League men’s and women’s basketball games can be seen on ESPN+ – www.patriotleague.tv. International viewers can visit www.patriotleague.org/watch for League coverage. Additionally, select Patriot League basketball games will be nationally televised on CBS Sports Network.



ABOUT THE PATRIOT LEAGUE
The Patriot League is in its fourth decade of academic and athletic achievement, continually demonstrating that student-athletes can excel both academically and athletically without sacrificing high standards. The Patriot League’s athletic success is achieved as its member institutions remain committed to its founding principle of admitting and graduating student-athletes who are academically representative of their class. Participation in athletics at Patriot League institutions is considered an important part of a well-rounded education.

 

An Act of Love: Washington Church Helps Clear $2.5 Million in Missouri Medical Debt | Local News

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Unbeknownst to them, hundreds of low-income Missourians burdened with heavy medical debt are about to find that their burden has been lifted.

As part of a partnership between the Lutheran Peace Church in Washington and the New York-based nonprofit RIP Medical Debt, eligible Missourians in 80 counties are set to have their medical debt erased by 2, $5 million.

The debt was purchased for about a penny on the dollar from various collection agencies, with the $13,437 the church collected being applied to the medical debt of 824 people. This includes nearly $9,000 that non-religious members have contributed to Peace Lutheran’s campaign, which began in December 2019.

Affected Missourians should have received or will receive a letter from RIP Medical Debt regarding their debt forgiveness in the coming weeks, said Daniel Lempert, director of communications for RIP Medical Debt.

“We started this campaign (in 2019) with the intention of focusing on the medical debt of people in our community, in Franklin County and counties immediately adjacent to Franklin County,” said Aimee Appell, pastor of the Peace Lutheran Church, which averages about 100 people per service.

RIP Medical Debt can target debt portfolios from specific geographic regions and prioritize debt belonging to certain groups of people, such as veterans, but not to specific people, Lempert said. This means that religious affiliation plays no role in who benefits from the Peace Lutheran donation.

“This is not just a gift to these individuals or their families, but to society as a whole,” Appell said. “Now these people can take the money they were going to spend on their debt and use it in their local economies.

“This campaign is going to create a ripple effect that will ultimately benefit communities across Missouri,” she said.

In Franklin County, the campaign erased $24,515.20 in medical debt, benefiting 10 residents.

The campaign paid the medical debts of 116 St. Charles County residents, which totaled $167,144. The campaign also paid the medical debts of 32 St. Louis County residents, who had debts totaling $26,343; 62 residents of Jefferson County, who had debts totaling $74,127; 12 Washington County residents, who had debts totaling $15,006; 16 residents of Crawford County, who had debts in total$34,618; and a Gasconade County resident totaling $753.41. The campaign also paid the medical debts of 18 residents of the city of St. Louis, who had debts totaling $36,262.

After paying those debts, Peace Lutheran expanded the reach of the campaign to include any Missouri resident who faces medical debts of 5% or more of their annual household income, or lives below 200% of the threshold. of federal poverty. For a family of four, this would represent a family income of approximately $54,000.

Peace Lutheran’s decision came after a separate campaign by a different church wiped out medical debts in neighboring counties. Instead of keeping what they collected to pay off future medical debts, Peace Lutheran decided to put the money to work now.

“We were shown a map of the hardest hit areas — areas that are the poorest parts of our state, like in the Bootheel and in the Ozarks,” Appell said. “We saw that these people needed as much as our immediate neighbours. So we decided that we didn’t want that money sitting in a bank account and not helping people. That’s not what God calls us to do – he calls us to help each other, to help our neighbors.

Campaign dollars will indeed help people in many different ways, including emotionally, spiritually and physically, Lempert said.

“Medical debt may actually be a barrier that prevents some people from seeking follow-up medical care,” Lempert said.

Medical debt relief has been a growing trend in recent years. Since 2018, dozens of churches across the country — and in Missouri — have partnered with RIP Medical Debt.

For example, in 2019, Columbia’s Crossing Church raised more than $430,000 in a campaign that resulted in the repayment of $43 million in medical debt for low-income Missourians.

In 2020, several United Churches of Christ in the St. Louis area joined together to pay off $12.9 million in medical debt for more than 11,000 families in the St. Louis area.

Since its inception in 2018, RIP Medical Debt has purchased $3.9 billion in medical debt, helping more than 2.3 million American individuals and families.

According to a study by the Urban Institute, more than 30% of non-elderly adults in Missouri had medical debt in 2015, which matches the most recent data available. Missouri ranks seventh in the nation for the highest medical debt burden, according to the study.

Kathy Hurlbert, a member of the Lutheran Congregation of Peace and a resident of Washington, knows firsthand how debilitating it can be to deal with a large medical debt. She met what seemed like insurmountable bills when her husband, Larry, died of cancer which the couple say was likely caused by Larry’s exposure to Agent Orange in Vietnam.

“At the lowest point in my life, I found a bill shortly after his death for $21,000. I was lucky enough to be able to cash in on a life insurance policy, but not everyone is so lucky Hurlbert said “Medical bills can be so overwhelming, especially if they don’t have insurance.”

Hurlbert spoke openly about his experiences with the Peace Lutheran congregation and with friends. She said participating in the RIP Medical Debt campaign and seeing the response from the community has strengthened her faith.

“For me, it just showed me that there are still people who care about us in this world,” Hurlbert said.

Even in Retirement, It’s Wise to Monitor Your Credit Score | Business

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Question: Now that I’m retired, my income and expenses are the same every month. So, do I still need to watch my credit score?

Responnse: The Federal Consumer Financial Protection Bureau recommends regular monitoring of credit scores at any age, but especially for seniors who are often at greater risk of identity theft or fraud. Unexplained credit score changes are warning signs of these crimes.

Unfortunately, data breaches have made identity theft and fraud more common by exposing the personal information of millions of consumers. In some cases, criminals steal social security numbers and birth dates. Unlike credit card numbers, this type of personal information cannot be changed easily, making the need for protection against fraud and identity theft all the more important.

There are several ways to protect sensitive information from misuse, including bank and credit card statement verification, fraud alerts with account security freeze options, identity theft protection services and, of course, credit rating monitoring.

Consumers can request a free credit report every 12 months to check for errors or fraudulent entries from annualcreditreport.com.

There are three national credit bureaus: Experian, TransUnion and Equifax. When reviewing your report, question any unrecognized entries and verify that personal and financial information is accurate and complete.

Credit ratings will likely change with large credit purchases, new loan applications, or other available or new access to credit. For example, many retirees are downsizing or adjusting the size of their homes, often resulting in a new mortgage. To qualify for the best rates, make sure your credit scores are optimal for you by correcting any errors on your credit reports, according to MoneyWise.com.

Experian Credit Bureau suggests that one way to easily improve a credit score is to reduce the amount of debt. Avoid making routine payments with credit cards that are themselves revolving credits. By keeping these account balances low, you can avoid getting into debt.

Also, Experian warns that moving balances between credit card accounts does not eliminate the debt problem. Additionally, consumers should regularly scan credit reports to see if any accounts have overdue payments and subsequent charges to eliminate any errors.

To boost credit scores, determine exactly how much you owe and interest rate on each existing credit card or loan, then pay off the highest rate accounts first, depending on myFICO.com.

In retirement, income and bills are often similar from month to month; so, myFICO.com recommends automated payment plans directly from bank or credit union accounts. Scheduling payments to individual creditors can help you get your bills under control and reduce the risk of late payments, which could lead to a lower credit score.

Additionally, AARP suggests that you shouldn’t rush to close old accounts. The age of your oldest and newest credit accounts and the average age of all accounts represent 15% of your credit score. If you don’t pay annual fees on old accounts, it might be worth keeping them open. The longer you’ve had credit, the better your score usually is.

Again, it’s important to monitor your credit score regularly, especially in retirement, to protect against fraud and help you meet any future credit access needs.

Michael Bateman is a retiree who previously worked in marketing and corporate communications.

Michael Bateman is a retiree who previously worked in marketing and corporate communications.

Inaccurate Credit Reports and Article III

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A recent case from the Eastern District of California addressed the division of authority on the issue of whether an inaccurate credit report alone is sufficient to establish material harm for the purposes of Article III.

In Kellie Gadomski vs. Patelco Credit Union, no. 2:17-cv-00695-TLN-AC, 2020 WL 223878, 2022 US Dist. LEXIS 13741 (ED Cal. Jan. 24, 2022), Plaintiff, a California consumer, brought an action against Defendant, an information provider, alleging two causes of action for violation of the Fair Credit Reporting Act (“FCRA”) ) and the California Consumer Credit Reporting Agencies Act (“CCCRAA”) with respect to a consumer credit card debt (the “Debt”) owed by Plaintiff to Defendant.

Plaintiff asserted that Defendant incorrectly reported that the debt was “charged” or otherwise past due/unpaid, as opposed to “discharged from bankruptcy”, after Plaintiff’s Chapter 7 bankruptcy “without assets”, in which the debt would have been foreseen, has been discharged. . Further, the plaintiff asserted that the defendant’s failure to meet the Metro 2 reporting standard constituted misrepresentation or misrepresentation.

Defendant proposed to dismiss Plaintiff’s claims in their entirety because Plaintiff lacked standing and did not allege damage. The Court first considered the Plaintiff’s claim for actual damages, finding that the Plaintiff’s alleged actual damages were insufficient to establish actual standing because she did not allege actual damages. beyond court costs. Next, the Court analyzed the plaintiff’s claim for emotional distress, finding that the allegations were vague and conclusive, and were therefore insufficient to establish standing.

Much of the Court’s analysis focused on the damage done to the plaintiff’s solvency and the alleged “chilling effect” of the defendant’s reports. The defendant argued that the plaintiff’s claims of harm were insufficient to state a claim based on the decision in Jaras v. Equifax766 F. App’x 492 (9and Cir. 2019). In opposition, the plaintiff argued that the Court should rely on Robins vs. Spokeo, Inc.867 F.3d 1108 (9and Cir. 2017)(“Spokeo III”).

In Jarasthe court concluded in the absence of allegations showing that an inaccurate credit report affected a attempted or imminent transaction, an inaccurate credit report alone was insufficient to allege concrete harm in fact. In Spokeo IIIthe court held that a plaintiff need not allege further harm because an inaccurate credit report alone constitutes factual harm.

In addressing these two conflicting positions, the Court said “there is no clear authority on whether an inaccurate credit report alone is sufficient to establish concrete harm in fact.” The Court recognized that Jaras distinguished himself from Spokeo III pointing out that the Spokeo III the plaintiff’s credit report “had already been requested and obtained by at least one third party, and that they were of a type sufficiently likely to adversely affect his employment prospects at a time when he was unemployed and actively seeking employment job”. In Gadomskythe Eastern District of California finally uncovered the facts of Jaras reflected the facts of this case, namely that, as for Jaras, “Plaintiff did not allege concrete harm in fact because she did not provide any facts alleging that the inaccurate credit report adversely affected her ability to complete a transaction in the past or in the imminent future.” Instead, the Court rejected the plaintiff’s claim that an inaccurate credit report had a “chilling effect”. excluding prevent it from establishing new positive accounts and improving its credit”, concluding that the allegations of solvency damage and chilling effect are insufficient to establish standing under Article III.

Finding that the plaintiff did not have standing, the Court granted the defendant’s motion to dismiss but granted leave to amend. Defendant also proposed to strike Plaintiff’s group allegations for both claims. The Court dismissed Defendant’s motion to strike Plaintiff’s class claims as premature and moot because the Court dismissed the applications with leave to amend.

Practical tip:

Although the motions in Gadomsky were informed before the Supreme Court TransUnion LLC vs. Ramirez decision, Gadomsky demonstrates that Ramirez has not resolved the division of competences for all matters under Article III. Practitioners should continue to assess whether Article III standing exists in Fair Credit Reporting Act claims filed in federal courts.

Copyright © 2022 Womble Bond Dickinson (US) LLP All rights reserved.National Law Review, Volume XII, Number 35

FSRA Submits Draft Credit Union Rules to Strengthen Credit Union Sector to Minister for Approval

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TORONTO, February 4, 2022 /CNW/ – The Financial Services Regulatory Authority of Ontario (ARSF) has submitted its Sound Business and Financial Practices Rule, Capital Requirements Rule and Liquidity Requirements Rule to the Minister of Finance for approval. The rules position the credit union sector as a leader in FSRA’s evolving principles-based, results-driven regulatory approach. If approved, the rules will strengthen the credit union sector and bring it more in line with international standards.

The proposed rules modernize the framework for credit unions and the sound business and financial practices rule replaces the Ontario (SOAD) By-Law No. 5. If approved, the Rules will come into force no later than 15 days after Minister’s approval or on the date the Government of the Ontario proclaims the entry into force of the CUCPA 2020.

The following documents can be viewed on the FSRA website:

FSRA is proud to build a stronger regulatory framework so that credit unions can expand their business activities with caution and safety.

Learn more:

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial security, fairness and choice for all.

Learn more at www.fsrao.ca.

SOURCE Financial Services Regulatory Authority of Ontario

For further information: For media inquiries: Russ Courtney, Senior Media Relations and Digital Officer, Financial Services Regulatory Authority, C: 437-225-8551, Email: [email protected]

Golden State Warriors’ Klay Thompson dazzles in win: ‘Hard work pays off’

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SAN FRANCISCO — Ahead of the Golden State Warriors’ 126-114 victory over the Sacramento Kings on Thursday night, Warriors general manager Bob Myers said Klay Thompson has been physically ahead of schedule since returning from a two-period and a half years. hiatus. Thompson’s shot, Myers said, would come in time.

Thompson said he didn’t hear Myers’ comments before the game, but the way he played Thursday felt like a direct response: Thompson’s shot wasn’t just coming, it was coming.

Thompson finished with 23 points on 8 of 11 shooting, including 7 of 9 from 3-pointers. Twenty of his points came in 10 minutes between the first and second quarters, fueled by six consecutive 3-pointers.

“It was so good,” Thompson said. “With everything I’ve been through, I really enjoy nights like this. The filming part is so much fun and when you see the hard work paying off, it has a different impact now that there’s a few years. Being happy can be so fragile doing what we do and it can be taken away from you in an instant.

“I hit my first couple and thought I played with good pace tonight. And even going into the second half I’m proud of myself for not trying to force it. I was 20 in thinking I might have a 40-point night or something, but I think I played a great full game.”

Not rushing and playing in the flow of play has been a priority for Thompson since his first game on Jan. 9. It’s also something he admits he struggled to do, especially at first.

But when he does, the Warriors say they see flashes of who he was before his injuries.

“He had that look in his eye. You like to see him,” said Stephen Curry, who finished the night with 20 points on 7-of-11 shooting, seven assists and two steals. “It’s a big boost for the whole team.”

Along with his tally, Thompson had seven assists – something that was kind of a new trend for him.

“I think he’s always had it in him,” Warriors coach Steve Kerr said of Thompson’s improved passing tally. “I think we have more ground spacing at the moment… so the ground is open and he puts the ball on the ground, puts it in the paint and does a good job of finding open players.”

According to Curry, now that Thompson is back and shooting the ball more like he used to, opposing teams are starting to defend him harder. This allowed him to become more of a ball handler and passer.

“Take what the defense gives him,” Curry said. “He’s shown he can be an amazing playmaker and use that against defense if they want to be super aggressive to get close to him.

“He has to keep finding that balance because we know he can shoot, we know he can score, and until he plays his full rotation over 30 minutes, that balance is very important for may he continue to have rhythm in our attack.”

Copyright © 2022 ESPN Internet Ventures. All rights reserved.

$2.355 billion in new loan agreements signed in Q1 – Pakistan

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ISLAMABAD: The Government of Pakistan has signed new loan agreements worth $2.355 billion with various bilateral and multilateral development partners, and foreign commercial banks in the 1st quarter of the current fiscal year 2021- 22, revealed the Ministry of Economic Affairs.

According to official data, of the total new agreements, $628 million in financing agreements were signed with multilateral development partners and $686 million with foreign commercial banks.

He further revealed that the government had received $1.42 billion from the international capital market through automatic issuances. The Eurobonds were issued at the premium amount of $42 million.

Among multilateral development partners, the AfDB emerged as the largest partner in terms of new External Economic Assistance (EFA) commitments of $500 million (21% of total commitments), followed by the World Bank.

Of $2.355 billion, $1,727 million (or 73% of total commitments) was earmarked for program financing through foreign commercial banks and Eurobonds. An amount of 628 million dollars (or 27% of the total) has been allocated to finance the project. No funds were committed for the financing of raw materials in the 1st quarter.

During the reporting period, the government committed $628 million in project funding for the procurement of Covid-19 vaccines and the education and training sector of the economy. The AfDB has committed $500 million against the “Covid19 Vaccine Support Project”.

An additional $127 million has been committed by the World Bank to fund a project called “Sindh Early Learning Enhancement through Classroom Transformation (SELECT)”, earmarking 20% ​​of the project funding for education and training.

Disbursements of $3.216 billion between July and September 2021 were mainly for loan/grant projects and programs from multilateral and bilateral development partners and financial institutions.

The composition of disbursements is as follows: (a) US$1,597 million, or 50% of total disbursements, came from multilateral development partners, mainly AfDB, World Bank and IDB; (b) $468 million, or 15% of total disbursements, came from foreign commercial banks. (c) $1,000 million, or 31% of total disbursements, came from international bondholders; (d) $109 million, or 3% of disbursements, came from bilateral development partners, particularly China, the United States and the United Kingdom.

About $1,597 million (50% of disbursements) came from multilateral development partners and a disbursement of $1,000 million (31% of total disbursements) came from bondholders. Among multilateral development partners, the World Bank and AfDB were the main development partners with disbursements of $529 million and $461 million (16% and 14% of total disbursements), followed by IDB and the AIIB. China was the largest among bilateral partners disbursing $73 million, or 67% of the total bilateral development partner share of $109 million.

An amount of 468 million dollars (or 22% of the total) was obtained from foreign commercial banks and 796 million dollars (or 38% of the total) in the form of project financing. The remaining 21% of disbursements were for commodity financing.

During Q1 2021-22, the largest share of disbursements, 37% of the total, was received for Covid19 funding needs. On the other hand, the most important sector in terms of disbursements is that of energy and electricity, with a share of 24% in the total aid to the project of 853 million dollars, followed by transport and communications (11% share), transport and communications (11% share), and land use planning and housing (six percent share of total project aid).

As of September 30, 2021, Pakistan’s total external public debt stood at $86.8 billion. Pakistan’s external public debt comes from three main sources, namely multilateral external debt accounting for 41% of the share of total external public debt (including IMF financing), followed by bilateral external debt (24% of total ) and foreign commercial debt. banks (11% share of the total).

The remaining 16% of external public debt is made up of the State Administration of Foreign Exchange (SAFE), China deposit and Eurobonds (including sukuk).

The government paid an amount of $1,353 million between July and September 2021 in debt service for external public borrowings. This includes principal repayment of $1,036 million and interest payments of $317 million.

During the period under review, the bulk of repayments were made to foreign commercial banks, with a 32% share of total repayments, followed by the World Bank (22% share), AfDB (20% share) and China (14% share). generally).

For the period under review, net transfers to the government’s external public debt were $2,065 million, compared to $1,408 million during the corresponding period last year. The share of longer-term concessional external loans increased by $1,145 million (multilateral and bilateral loans) and the share of commercial borrowing increased by $1,143 million, including net borrowing of $143 million from commercial banks and $1,000 million from Eurobonds.

Copyright Business Recorder, 2022

Fourth Circuit Says Mortgage Servicer Violated Maryland Consumer Debt Collection Act by Charging Convenience Fee for Phone or Online Payments | Ballard Spahr LLP

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The United States Court of Appeals for the Fourth Circuit recently ruled that a mortgage manager violated the Maryland Consumer Debt Collection Act (MCDCA) by charging borrowers a $5 convenience fee for monthly payments made by phone or online.

In Alexander v. Carrington Mortgage Services, LLC, plaintiffs filed a class action lawsuit against Carrington, their mortgage manager, challenging the convenience fee in which they alleged that the manager violated MCDCA Section 14-202(11) by engaging in conduct that violates the Fair Debt Collection Practices Act. (FDCPA) (Sec. 14-202(11) Claim) and MCDCA Section 14-202(8) when attempting to assert a right knowing that such right does not exist (Sec. 14-202(8) Complaint) . Regarding Sec. 14-202(11) Claim, plaintiffs argued that the repairer violated the FDCPA provision which prohibits a “[t]the collection of any amount (including any interest, commission, charge or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

The District Court dismissed MCDCA’s claims, finding that the service agent was not a “collector” for the purposes of either MCDCA’s claims. As for Sec. 14-202(11) Claim, it also held that the service agent was not a “collection agent” under the FDCPA, the plaintiffs’ choice to make online payments was “authorized by the law” and the convenience fee was not “incidental”. to applicants’ mortgage debt. As for Sec. 14-202(8) Application, the district court held that the server agent had the “right” to collect the convenience fee, since the mortgage documents did not expressly prohibit the fee and the plaintiffs had voluntarily chosen to make payments online.

In reversing the District Court, the Fourth Circuit first found that the repairer was a “collector” under the MCDCA which defines a “collector” as “a person collecting or attempting to collect an alleged debt arising from a consumer transaction”. Among the Duty Officer’s arguments rejected by the Fourth Circuit was his argument that plaintiffs had to demonstrate that the Duty Officer was also a “collection agent” under the FDCPA to establish a violation of Sec. 14-202(11). The Fourth Circuit went on to hold that the administrator’s imposition of the convenience fee qualified under the FDCPA as collecting an “amount” that was “incidental” to the plaintiffs’ mortgage debts. He also ruled that the convenience fee was not “authorized by law”. In so ruling, the Fourth Circuit rejected the Administrator’s argument that a charge is “permissible by law” so long as there is no express statutory prohibition. She also rejected the server agent’s argument that under common law contractual principles, convenience fees were “permitted by law” under the plaintiffs’ expression of assent in the click agreements. in line. According to the Fourth Circuit, for a right to be “permitted by law”, it must be expressly permitted or authorized by law.

The Fourth Circuit also reversed the District Court’s dismissal of Sec. 14-202(8) Complaint. According to the Fourth Circuit, by charging the convenience fee, the repairer had asserted rights that do not exist for the purposes of Sec. 14-202(8) because such charges are prohibited by Sec. 14-202(11).

In their complaint, the plaintiffs also alleged that by violating the MCDCA, the repairer violated the Maryland Consumer Protection Act (MCPA), which makes a violation of the MCDCA an inherent violation of the MCPA. Having found that the duty officer violated the MCDCA by engaging in conduct that violated the FDCPA, the Fourth Circuit also reversed the district court’s dismissal of plaintiffs’ MCPA derivative claim.

The Fourth Circuit ruling could lead to similar lawsuits challenging convenience fees charged by mortgage servicers and other consumer financial service providers under debt collection laws in other states that broadly enforce the FDCPA prohibitions on first party collections and other persons engaged in collection activities who are not “collection agents” under the FDCPA. Additionally, the CFPB highlighted a wide range of fees charged by mortgage servicers and other consumer financial service providers with its announcement last week that it was launch an investigation into “junk fees”.“As a result, mortgage servicers and other providers should expect that many of their fees will also come under scrutiny from state regulators and attorneys general as well as attorneys.” complainants.

On February 17, 2022, from 2:30-3:30 p.m. ET, Ballard Spahr will host a webinar titled “The CFPB’s Investigation into ‘Unwanted Fees’: What It Means for Consumer Financial Service Providers.” »

[View source.]

Patriot League Men’s Basketball Recap Presented by PenFed Credit Union (2.2.22)

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AT LEHIGH MOUNTAIN HAWKS (9-14, 7-4 PL) 63, NAVY FRIENDS (14-7, 7-4 PL) 62
Stabler Arena/Bethlehem, PA 7 p.m. (ESPN+)

THE SCORE OF THE BOX
BETHLEHEM, Pa. –Lehigh junior guard Evan Taylor’s steal and layup with 11.1 seconds left in the game gave the Mountain Hawks a 63-62 victory over the Navy at Stabler Arena.
* Lehigh trailed 60-43 with 5:09 left, but their defense held the Mids scoreless on the field the rest of the way while Taylor and senior center Nic Lynch combined for 16 points in the streak to complete the spectacular comeback.
* Lynch finished with a team-high 18 points while Taylor added 13 points, five rebounds, three assists and two steals to lead Lehigh to a season sweep against Navy.
* Navy senior guard Greg Summers scored a team-high 16 points on 5-of-8 shooting from the floor. He added four assists and two steals.
* Junior forward Tyler Nelson finished with 10 points and five rebounds for the Mids.
RECAPS: NAVY | THE TOP

AT LAFAYETTE LEOPARDS (6-14, 3-6 PL) 71, AMERICAN EAGLES (6-15, 2-7 PL) 62

Kirby Sports Center/Easton, PA 7 p.m. (ESPN+)
THE SCORE OF THE BOX

EASTON, Pa. –Junior forward Neal Quinn recorded his seventh double-double of the season, finishing with 22 points and 10 rebounds to lead Lafayette to a 71-62 victory over American.
* Junior forward Leo O’Boyle added 19 points on 8-for-11 shooting from the floor, including 3-of-3 from outside the arc to help the Leopards complete a two-game season sweep over the ‘American.
* Senior guard Tyrone Perry also scored in double figures with 14 points, while freshman guard CJ Fulton added seven assists.
* American sophomore guard Colin Smalls led four Eagles in double figures with 16 points, while freshman forward Matt Delaney added 13 points.
* Graduate guard Stacy Beckton Jr. and freshman guard Elijah Stephens scored 10 points apiece for the Eagles.
RECAP: AMERICAN | LAFAYETTE



AT LOYOLA MARYLAND GREYHOUNDS (13-9, 7-4 PL) 61, ARMY WEST POINT BLACK KNIGHTS (13-10, 7-4 PL) 57

Reitz Arena/Baltimore, Md. 7 p.m. (ESPN+)
THE SCORE OF THE BOX

BALTIMORE –Junior guard Cam Spencer led three Greyhounds in double figures with 19 points in Loyola Maryland’s 61-57 win over Army West Point at Reitz Arena.
*Spencer added nine rebounds, two assists and two steals to help the Greyhounds clinch a two-game slide.
* Senior guards Jaylin Andrews and Kenneth Jones added 16 and 14 points to help Loyola Maryland share the season streak with the Black Knights.
* West Point Army sophomore guard Jalen Rucker scored a game-high 22 points on 6-of-9 shooting from the perimeter.
*Senior guard Josh Caldwell added 10 points and four steals for the Black Knights. Army finished with 13 interceptions.
RECAP: ARMY WEST POINT | LOYOLA MARYLAND



AT COLGATE RAIDERS (10-11, 6-2 PL) 83, BUCKNELL BISON (5-18, 2-9 PL) 69

Cotterell Court/Hamilton, NY 7 p.m. (ESPN+)
THE SCORE OF THE BOX

HAMILTON, NY –Junior guard Ryan Moffatt scored a career-high 24 points on 6-of-9 3-point shooting to lead Colgate to an 83-69 victory over Bucknell at Cotterell Court on Wednesday.
* Fifth-year guard Jack Ferguson finished with 16 points and six rebounds, while senior guard Tucker Richardson added 10 points, seven rebounds and four assists to help the Raiders sweep the season series.
* Colgate senior guard Nelly Cummings had a career-high nine assists and had seven points and five boards.
* The Raiders shot 50% (14 for 28) from 3-point range, with five different players connecting from long range.
* Bucknell junior guard Xander Rice scored a team-high 18 points and had three interceptions, while senior guard Andrew Funk added 17 points and four assists.
* Freshman goaltender Elvin Edmonds IV also scored in double figures with 10 points.
* The Bison scored 23 points on 16 turnovers for the Raiders, with Rice (3), Funk (2) and Edmonds (2) each finishing with multiple interceptions.
RECAP: BUCKNELL | COLGATE



ABOUT THE PATRIOT LEAGUE
The Patriot League is in its fourth decade of academic and athletic achievement, continually demonstrating that student-athletes can excel both academically and athletically without sacrificing high standards. The Patriot League’s athletic success is achieved as its member institutions remain committed to its founding principle of admitting and graduating student-athletes who are academically representative of their class. Participation in athletics at Patriot League institutions is considered an important part of a well-rounded education.

 

Cettire’s investments in marketing are paying off with a 208% increase in the number of active customers

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Online luxury retail Cettire continued to grow and expand in FY22, the company disclosed in its first-half results.

In the statement, the Melbourne-based eTailer attributed its strong results to its investment in brand building, customer acquisition and subsequent technology development.

For the first half of FY22, Cettire said its gross revenue increased 192% to $154.1 million from $52.7 million in the first half of FY21.

Revenue also increased during the period, with Cettire reporting an increase of 181% to $113.7 million ($40.5 million in the first half of FY21).

During the period, Cettire’s active customer base increased by 208% to 209,000 (68,000: H1 FY21), with repeat customers accounting for 46% of gross revenue (34%: H1 FY21).

The eTailer also saw 23.6 million unique visits to its website during the half, a 304% increase from the 5.8 million it had in the first half of FY21.

However, despite these strong results, the company was unable to post a profit for the period.

Cettire recorded an operating loss of $9.9 million compared to an EBITDA of $4.8 million in the first half of FY21, and a net loss after tax of $8.3 million compared to compared to a profit of $2.3 million in the first half of FY21

Despite this, Cettire Founder, CEO and Executive Director Dean Mintz said the company was excited about its future, given the strength of its growth strategy.

“Many themes from our FY21 results continued through the first half of FY22.

“Cettire has once again experienced very rapid growth, significantly increasing the number of unique visitors and active customers, further increasing the proportion of revenue from repeat customers and overall continuing its growth trajectory.

“At a time when many retailers, both online and physical, have seen their revenues decline as COVID restrictions ease, Cettire has continued to deliver exceptional revenue growth given the high level of engagement from customers, the scalability of our light capital, high cash flow generating business model and the consequent benefits of our proprietary technology platform.

“The financial results achieved in the first half of FY22 demonstrate the substantial progress we have made in executing our growth strategy.

“A number of significant improvements have been implemented in our consumer offering, including deeper localization, enabled by our proprietary e-commerce storefront solution, and investment in our brand,” he said. he continued.

“What excites us is that Cettire is just getting started and is in the early stages of its growth journey.

“The track ahead of us is large and we will continue to invest to seize the significant market opportunity we see for the business,” he said.

Other company highlights include a 178% increase in revenue margin to $42.7 million from $15.4 million in the first half of FY21.

The business continued to generate strong growth in cash flow from operations, which increased by 43% to $12.3m (H1 FY21: $8.6m) during the six months.

This cash flow was partially reinvested in brand marketing to increase awareness of the Cettire brand and support long-term growth.

As of December 31, 2021, Cettire had a cash balance of $55.5 million and no debt.

According to the company, 80% of its customers access the site via the mobile web. The upcoming launch of Cettire mobile applications will therefore capitalize on this opportunity.

Additionally, Cettire is set to launch a beauty category, to support its mission to become the world’s leading online luxury destination.

Mintz added that he is moving full steam ahead for the company in the second half of FY22, having kicked off the half with unaudited gross revenue growing 242% in January 2021.

“Cettire has huge growth opportunities in markets where we have always been strong and had a localized proposition, such as the US, UK and Australia.

“In addition, we have begun to unlock the growth opportunity in several high-value luxury goods markets, where we already have services, due to the migration of traffic to our proprietary storefront, which supports content. , currencies and localized payment options.

“Our growth trajectory continued into H2 FY22, where we experienced a further acceleration in our growth rate in January.

“Given the global growth opportunity presented to Cettire, we will lead the business to maximize revenues by investing more in brand and customer acquisition to drive long-term shareholder value.

“Our focus for the remainder of FY22 is to continue to enhance our customer proposition which is centered around our wide selection of luxury, value and fast turnaround products, while continuing to develop our deep supply relationships. and diversified businesses and investing in our world-class proprietary e-commerce technology that can be quickly scaled to support entry into new products and geographic markets,” he said.

Cettire held an investor call at 10:30 a.m. this morning to detail the results.

Cettire was founded in 2017 and has a catalog of more than 1,700 luxury brands and more than 200,000 products of clothing, shoes, bags and accessories.

Funding in place for European isotope facility SHINE: New Nuclear

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February 02, 2022

SHINE Technologies of the United States announced that its European subsidiary, SHINE Europe, has secured funding to begin designing an advanced medical isotope production facility at Veendam in the Netherlands.

Rendering of the SHINE medical isotope production facility to be built in Veendam, the Netherlands (Image: SHINE)

The company said that the current phase of its European project is funded by the province of Groningen and the federal state of the Netherlands. Other SHINE investors include leading global private and public entities such as Baillie Gifford, Koch Disruptive Technologies, Fidelity, Deerfield Management Company and Oaktree Capital Management.

SHINE said the new facility will leverage its “innovative production systems” to produce medical isotopes, including molybdenum-99 (Mo-99), which is currently used in millions of diagnostic imaging procedures each year to help diagnose various life-threatening diseases in patients across the globe.

“The new facility is expected to develop medical isotopes in a process that is highly reliable, environmentally friendly and less expensive than traditional methods, also without adding an exponential tax burden to build new European reactors,” he added.

SHINE announced in May last year the selection of Veendam as the site of its European medical isotope production facility following a year-long research process that included the review of more than 50 sites across Europe. Construction of the Veendam facility is expected to begin in 2023, with commercial production expected to start in late 2025.

“Once operational, SHINE Europe demonstrates an innovative EU initiative that delivers critical medical care through new technology,” said SHINE Founder and CEO Greg Piefer.

“It’s like comparing a journey in Mercedes-Benz’s first gas-powered car in the 1880s to an innovative journey inside today’s Tesla. Simply put, we believe our technology will provide a solution to for the production of medical isotopes. We believe that in just a few years, and with a significant share of investment coming from private funding, SHINE Europe will provide essential Mo-99 to millions of European patients without depending on reactors aging.”

SHINE is currently building its first production facility, using its transformational reactorless technology, in Janesville, Wisconsin. The company broke ground on its production facility in the United States in May 2019. The plant is expected to be the world’s largest medical isotope production facility by capacity. SHINE plans to begin producing Mo-99 at the site in late 2022. The facility will be able to meet two-thirds of US patient demand for Mo-99.

The company is also exploring the potential production of additional isotopes such as iodine-131 and xenon-133, among others. Once SHINE Europe is fully operational, SHINE expects the combined production of Mo-99 from the two facilities to cover up to 70% of the world’s need for Mo-99 used in daily diagnostic imaging.

Research and writing by World Nuclear News



Here’s why SkiStar (STO:SKIS B) has significant leverage

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Howard Marks said it well when he said that, rather than worrying about stock price volatility, “the possibility of permanent loss is the risk I worry about…and that every practical investor that I know is worried”. It’s natural to consider a company’s balance sheet when looking at its riskiness, as debt is often involved when a company fails. We notice that SkiStar AB (publisher) (STO:SKIS B) has a debt on its balance sheet. But the real question is whether this debt makes the business risky.

Why is debt risky?

Debt helps a business until the business struggles to pay it back, either with new capital or with free cash flow. In the worst case, a company can go bankrupt if it cannot pay its creditors. However, a more frequent (but still costly) event is when a company has to issue shares at bargain prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, many companies use debt to finance their growth, without any negative consequences. When we think about a company’s use of debt, we first look at cash and debt together.

Check out our latest analysis for SkiStar

What is SkiStar’s debt?

As you can see below, SkiStar had 1.63 billion kr in debt in November 2021, compared to 1.98 billion kr the previous year. However, as it has a cash reserve of 98.9 million kr, its net debt is lower at around 1.53 billion kr.

OM:SKIS B Debt to Equity Historical February 2, 2022

A Look at SkiStar’s Responsibilities

We can see from the most recent balance sheet that SkiStar had liabilities of 2.11 billion kr due in one year, and liabilities of 2.57 billion kr due beyond. In return, he had 98.9 million kr in cash and 193.0 million kr in receivables due within 12 months. Thus, its liabilities total 4.38 billion kr more than the combination of its cash and short-term receivables.

This shortfall is not that bad as SkiStar is worth 11.5 billion kr, and therefore could probably raise enough capital to shore up its balance sheet, should the need arise. But it is clear that it is essential to examine closely whether it can manage its debt without dilution.

We measure a company’s leverage against its earning power by looking at its net debt divided by its earnings before interest, taxes, depreciation and amortization (EBITDA) and calculating how easily its earnings before interest and taxes (EBIT ) covers its interest charge (interest coverage). In this way, we consider both the absolute amount of debt, as well as the interest rates paid on it.

SkiStar has a debt to EBITDA ratio of 2.9 and its EBIT covered its interest expense 5.6 times. This suggests that while debt levels are significant, we will refrain from labeling them as problematic. Importantly, SkiStar’s EBIT has fallen by 45% over the last twelve months. If this earnings trend continues, paying off debt will be about as easy as herding cats on a roller coaster. When analyzing debt levels, the balance sheet is the obvious starting point. But ultimately, the company’s future profitability will decide whether SkiStar can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free analyst earnings forecast report interesting.

Finally, a business needs free cash flow to pay off its debts; book profits are not enough. We therefore always check how much of this EBIT is converted into free cash flow. Over the past three years, SkiStar has recorded a free cash flow of 45% of its EBIT, which is lower than expected. This low cash conversion makes debt management more difficult.

Our point of view

We would go so far as to say that SkiStar’s EBIT growth rate is disappointing. That said, its ability to cover its interest costs with its EBIT is not so worrying. Once we consider all of the above factors together, it seems to us that SkiStar’s debt makes it a bit risky. This isn’t necessarily a bad thing, but we would generally feel more comfortable with less leverage. The balance sheet is clearly the area to focus on when analyzing debt. But at the end of the day, every business can contain risks that exist outside of the balance sheet. To this end, you should be aware of the 4 warning signs we spotted with SkiStar.

If, after all that, you’re more interested in a fast-growing company with a strong balance sheet, check out our list of cash-neutral growth stocks right away.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Mountain West and Northwest CU associations explore proposed merger

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Image: Shutterstock.

The boards and executives of the Mountain West Credit Union Association and the Northwest Credit Union Association said Tuesday they have begun a due diligence process to explore merging the two organizations, which would create the Premier League of six industry states comprised of 308 credit unions. and 12.3 million members.

After MWCUA CEO Scott Earl announced late last year his intention to retire in June 2022, the MWCUA succession committee began discussing next steps for the organization. , which represents credit unions in Arizona, Colorado and Wyoming.

“As a committee, when many choices were possible, we quickly aligned on a choice that would answer the question of accelerating the pace of change,” said Mike Williams, Succession Committee Chair and President/ CEO of the $304 million Colorado Credit Union in Littleton, said in a prepared joint statement. “Credit unions need advocacy today and we believe exploring a merger with NWCUA sets us up for rapid and exponential impact. People need credit unions, and we need to position ourselves to serve even more people through powerful advocacy.

The NWCUA represents credit unions in Idaho, Oregon and Washington.

Todd Marksberry, MWCUA board chairman and president/CEO of the $3.6 billion Canvas Credit Union in Lone Tree, Colo., said if full due diligence reveals a merger will be beneficial to all member credit unions, the boards of directors of both associations will encourage their members to vote for consolidation in the spring. If the merger is approved, the merger would become official no later than June 30, 2022.

NWCUA President/CEO Troy Stang would lead the six-state association, according to the prepared joint statement.

“When credit unions unite their voices, they can better ensure that relevant services and continued value are available to all consumers,” Stang said. “By leveraging the strengths of both associations, member credit unions can expect a more influential voice in federal advocacy and impactful results in hyper-local state legislative advocacy.”

The scope of the proposed merger would include exploring the consolidation of service companies inherited from trade associations and foundation entities.

Marksberry also said the partnership would honor the best, time-tested traditions of both organizations and their member credit unions, creating what he described as the credit union association of the future.

This is the first state association consolidation proposed since January 2020, when the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged, becoming the CrossState Credit Union Association.

What I learned buying a house with my parents’ help

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  • Jared and Monika Rohrer are a millennial couple who recently purchased their first home.
  • When they didn’t have enough savings for a down payment, Jared Rohrer’s parents helped out.
  • For people in similar situations, the couple had some suggestions on how to proceed.

Last year Jared and Monika Rohrer, both 29, decided it was time to buy their first home. Mortgage interest rates were at historic lows, they wanted to build capital and they were expecting their first child. However, a problem stood in their way: while they had savings, they didn’t have enough to cover a down payment.

So they talked to Jared’s parents.

“My grandma passed away recently and my parents owned her house, and when they sold it, they called us and said, ‘Hey, we know you’re thinking of buying a house. We would like to reinvest this money, so what? if we come to an agreement with you?” he told Insider.

The deal was that her parents would provide a 30% down payment for the house and cover closing costs. Jared and Monika would cover the monthly mortgage payment, then when they sold the house later they would split the proceeds with her parents 50-50.

Seeking help from parents to buy a house is a common scenario. A 2020 survey by Loan Depot found that 77% of Millennials and Gen Z homebuyers expected financial help from their parents to buy their first home, and 65% of parents aged 39 and more were ready to provide this help. Typical financial assistance included help with a down payment, co-signing a loan, or paying closing costs.

“We wanted help for several reasons,” Jared Rohrer, who co-founded web development company Really Good Content with his wife, told Insider. “One, the down payment, but two, just to learn how to navigate the whole situation. We wanted some help understanding how the real estate market worked.”

As business owners, Rohrer said they’ve been working to pay off their credit card debt and have prioritized investing extra money in building the business, rather than spending money. saving for a house.

In April 2021, the Rohrers closed their five-bedroom lakeside home in Orlando, Florida, for a sale price of $386,000. Jared Rohrer said he and his father were on the mortgage and had signed a legal agreement, which was required by their lender to outline the structure of the agreement.

“It wasn’t necessarily for accountability because we didn’t trust each other, but more or less, just because the bank wanted it,” he explains.

Rohrer and his wife now live in the house with their six-week-old daughter, Serenity, and their golden retriever, Misha. Her parents live in California, but they recently bought a house across the lake that they plan to turn into an Airbnb rental or live in when they retire.

The monthly mortgage payment of around $1,700 is almost the same as what they paid to rent a much smaller apartment, Rohrer said. Although they have no trouble paying the mortgage, he worries that if something happens and they can’t, it could cause tension.

“We are legally bound,” he said. “They’re also in deep trouble if we can’t pay. So there’s definitely added tension, and if that ever happened, it would be really embarrassing.”

All the extra space is the best part of being a homeowner, Rohrer said, but homeownership also comes with a lot of responsibilities and expenses. Since moving in, he said they’ve used their savings to buy a washer and dryer, install a new air conditioning unit and garden fence, and repair plumbing.

“Everything in total probably ended up costing us around $6,000,” he said. “When you live in apartments, it’s someone else’s building, so they handle all the issues. We’re in charge of everything now.”

Compared to other generations, millennials — ages 22 to 30 — made up a smaller share of homebuyers over the past year at 14%, according to the National Association of Realtors. Many have had to compete with other buyers amid high home prices, while paying off student loans and other debts and saving for a down payment.

So any help young homebuyers can get, Rohrer said, go for it.

“I would say if someone is going to partner with their parents or friends to buy a house, go for it 100% because it’s worth getting the equity,” he said. “We don’t learn how to develop a heritage, how to save in order to be able to buy a house. A lot of people in our age bracket don’t have the income, and they just aren’t taught how to save properly because we have such a spending culture.”

If you’re buying a house with your parents, Rohrer said to be sure you have a legal agreement — no matter how close your relationship is.

“All of a sudden when the money comes in, the dirty sides of people can come out,” Rohrer told Insider. “So I would strongly advise anyone who does, to have an agreement in place that everyone has signed that is legal and binding.”

Young Manchester United goalkeeper signs new contract and seals loan at deadline

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Manchester United youngster Matej Kovar has signed a new contract with the club before leaving on loan to join Ligue 1 side Burton Albion.

Kovar, 21, sealed a loan exit late on deadline day and will now spend the rest of the campaign working under Jimmy Floyd Hasselbaink.

The Czech keeper also signed a new contract with United ahead of the loan exit, putting a pen on a deal until June 2023, with the option of a further year extension.

After continuing to impress at youth level for United, Kovar was called up to the Czech Republic senior squad in September last year.

His move to Burton will mark his second temporary spell away from the club, having gained valuable experience in 21 games for Swindon Town last season.

Speaking after the deal was confirmed, Hasselbaink expressed his delight at having such a good player to compete with Ben Garratt in the Brewers net.

“Kovar will come and make life difficult for Ben and provide good competition for the club,” Hasselbaink said.

“He will add some great competition, he’s a young keeper and we felt like we needed another one in the gate.”

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People feel more confident about the economy, credit card spending is on the rise

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CHARLOTTE, NC (WBTV) — Consumer spending rebounds as more people buy goods.

A key sign was that people were putting more on their credit cards during the 2021 holiday season.

During the fourth quarter of 2021, credit card spending jumped 20% for American Express cardholders.

This number is good and bad because it shows that the economy is recovering, but bad in the sense that people are choosing to take on more debt.

“People really wanted to spend more and were just thrilled to give gifts,” said Lily Sanford, owner of Lilbelle in Charlotte.

That’s the change Lilbelle saw in 2021 during the fourth quarter, a time when holiday shopping rebounded.

In 2020, people spent $131 at his store in a single visit, but that increased in 2021.

“It’s about $140 in the fourth quarter. That being said, it may be higher in other neighborhoods when people are spending on themselves. We see a trend after Black Friday. Customers really want to spend on others,” Sanford said. “These are people who want to spend money because they want to wear new things because they have places to go. But on top of that, they carry that 2020 mindset like we really want to support local, and we want to see you succeed.

Dr Steven Cox, professor of marketing at Queens University of Charlotte, said: “Well, I think people feel more comfortable with the economy, they feel more comfortable with their ability to have a job, to be able to return to work.”

In addition to people who feel comfortable with the economy, the professor added that others buy things out of fear of running out or raising prices due to inflation and chain issues. supply.

“There’s a lot of pent-up demand during COVID due to the uncertainty because people weren’t going out. This demand translates into increased purchases. Also, the increase in purchases doesn’t come in because credit card companies aren’t getting much faster numbers over 19 in 2019,” Cox said.

Cox thinks spending will continue to rise in 2022 if we don’t see another variant of COVID disrupting the country and the economy.

Improving Credit says that before you add more debt to your credit card, first sit down with your partner or the person in charge of your finances and come up with a plan.

Wanda Strickfaden, owner of Improve Credit, said: “Set a budget, give yourself an actual financial limit of what they can and cannot spend in that month on their credit card debt. I always tell my consumers that if you can’t pay off your balance in full, don’t borrow.

Strickfaden understands that some people have had to rely on their credit cards due to the pandemic to pay for regular bills, medical bills, and daily living.

“I understand that some have no control over whether they can borrow with their credit card because of these situations. So instead, I always tell your creditors to help you with a hardship program. So if you are having financial difficulty paying your credit card balance, you can take advantage of that difficulty to relieve yourself in your financial situation at that time,” Strickfaden said.

Improve Credit tells WBTV that it offers free assessments for people who need help with their credit report or credit scores.

Copyright 2022 WBTV. All rights reserved.

Aspire Credit Union Issues Fraud Alert | News, Sports, Jobs

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Aspire Credit Union recently became aware of a website replicating their existing site, including look and feel and branding. The scam website also changed the logo to read “Aspire Credit Bank” in the place of “Aspire Credit Union.”

Aspire Credit Union reports that its systems were not breached by this activity and the credit union has worked with its service providers and contacted the FBI’s Internet Crime Department to ensure its continued security.

Credit union wants members and potential members to be aware that this bogus site has phishing intentions to obtain personal information from the people who provide it. Members should visit www.aspire.creditunion directly to avoid landing on an incorrect site.

In the future, as the credit union works to have the fake website taken down, staff may ask members additional questions to confirm their identity. If you visited the wrong website and know that your account information was entered on the spoofed website, please monitor your accounts and notify the credit union immediately if you believe your information has been compromised.

Aspire Credit Union, formerly Prairie Federal Credit Union, has served communities in the Minot area since 1937. Aspire Credit Union is a community-chartered credit union serving Bottineau, McHenry, McLean, Mountrail, Renville and Ward counties.



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Live transfer news updates: Deadline latest from Manchester United, Arsenal, Liverpool, Chelsea, Tottenham

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Hello and welcome to Athleticism transfer deadline day coverage.

Over the weekend we saw clubs scrambling to complete their deals, with Liverpool making their move for Porto winger Luis Diaz, Tottenham working on a deal for Juventus duo Dejan Kulusevski and Rodrigo Bentancur and Newcastle completing the signing of Bruno Guimaraes from Lyon.

Everton, meanwhile, are set to appoint Frank Lampard as their new manager and are also in the lead on loaning Donny van de Beek to Manchester United.

In Europe, Juventus completed the signing of Dusan Vlahovic on Friday, Barcelona loaned Adama Traore from Wolves and Tottenham midfielder Tanguy Ndombele is in Lyon to finalize his loan move to Olympique Lyonnais.

Each of the Athleticism dedicated Premier League club correspondents have detailed what their squad are trying to do in the coming days. Learn more here.

Remember that we want to hear from you. Get involved by emailing [email protected] and share your thoughts.

When does the transfer window close?

The deadline for all top European leagues is today, but each league will close at a different time.

The Premier League and EFL have their deadline at 11pm GMT (6pm ET, 3pm PT), with the Scottish Premiership deadline at midnight (7pm ET, 4pm ET).

In the German Bundesliga, the deadline is 5 p.m. GMT, while it is 7 p.m. in the Italian Serie A and 11 p.m. in the Spanish La Liga and the French Ligue 1.

Background Reading:

CBN sues loan defaulters in new operational guidelines – Blueprint Newspapers Limited

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The Central Bank of Nigeria (CBN) over the weekend announced plans to place on its watch list the bank accounts of people who collected loans and refused to honor terms and agreements.

CBN disclosed this in new Global Standing Instructions (GSI) operational guidelines that it posted on its website.

The GSI aims to control the wave of bad debts within the banking sector.

According to the guideline signed by Chibuzo Efobi, for the director of the financial policy and regulation department of the apex bank, the initiative was designed to address the recurring cases of deliberate default in the industry.

Efobi said the guidelines would improve “watchlisting” and identify stubborn defaulters and improve loan recovery from all eligible and funded accounts in the sector.

He added that it would also improve the culture of paying on credit and reduce non-performing loans in the Nigerian banking system.

“As a result, please note that the frequency of recovery attempts through the GSI platform has been changed from a specific number to a continuous, unrestricted number,” he said.

He said GSI’s automated loan recovery feature applicable to all loans in the industry will remain in place perpetually for the life of the loan or until it is fully repaid.

He urged members of the banking public to check the CBN’s website for the guidelines.

The GSI initiative was approved by the Bankers Committee at its February 2020 meeting.

The CBN then worked with relevant stakeholders to develop the necessary protocols to facilitate the implementation of the GSI, for eligible loans granted on or after August 28, 2019.

It’s the US county with the most student debt – 24/7 Wall St.

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Among the issues President Biden has chosen to address is the massive number of student loans in America. And, amid heated debate in Washington, can he make that decision alone, or does it have to go through Congress? One option he presented is the cancellation of federal loans for those with incomes below $125,000. However, the level of debt forgiveness and income remains undecided.

High student debt can affect the financial lives of people who hold it for years or even decades. One of the reasons homeownership is declining among young adults is this debt burden. And, the consumer spending of this group is almost certainly compromised even with small purchases.

A 2019 report from New York Life found that taking on too much student loan debt was one of the top financial regrets of the 2,200 adults in the survey who reported taking an average 18 and a half years to repay the debt.

The ability to repay student loan debt depends on many factors, including whether or not the degree you borrowed led to a good job in your current location. A graduate with a coveted degree in a big city with many job opportunities may have an easier time paying off debt than a graduate living in a less populated area with fewer career opportunities.

With so much student debt across the country, many Americans find themselves in default on their student loans.

To identify the county with the most student loan debt in collections, 24/7 Wall St. examined the median student loan debt in collections among residents of each state with student loan debt in collections. a non-profit think tank Urban Institute’s Debt in America Report 2021. The Urban Institute used 2020 credit bureau data.

The share of student debt in collections, also from the Urban Institute, is the percentage of the total number of individuals with some form of student debt that is opened, deferred, and sent to a collection agency. Education level is from 5-year estimates from the 2019 American Community Survey.

The most indebted county is York County, South Carolina. Here are the details:

> Median student debt in default: $23,965
> Student loan holders with student debt in default: 8.8% – #1,908 of 2,934 counties
> Adults with at least a bachelor’s degree in 2019: 33.3% — #372 out of 3,136 counties

Click here to read These are the 50 counties with the most student debt

North County Business Briefs, January 30

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FALLBROOK

The Chamber will organize an exhibition next month

The Fallbrook Chamber of Commerce is planning a trade show from 4-7 p.m. on February 17 at the Pala Mesa Resort, 2001 Old Highway 395. The event is free and open to the public. There will be light appetizers, a cash bar, networking and more. The deadline is Feb. 9 for chamber member booths, which cost $50. Call (760) 728-5845.

NORTH COUNTY

The credit union offers red envelopes

San Diego County Credit Union customers celebrating Lunar New Year can pick up red envelopes at SDCCU branches or digitally send red envelopes to family and loved ones through Bill Pay Plus in the branch’s online banking Internet. For instructions, visit sdccu.com/lunarnewyear. Lunar New Year is Tuesday and this year is the Year of the Tiger. Based on the lunar calendar, the Lunar New Year takes place on a different date each year. Red envelopes containing money are given to children by parents or family elders to wish them health and good studies. Red envelopes are believed to bring good luck.

Council awards annual awards

The North San Diego Economic Development Council announced eight North County Economic Development Achievement Awards at its recent annual awards luncheon. The winners were: the new Kaiser Hospital in San Marcos; Gary and Mary West PACE; Cue Health Business Investment in Vista; Alila Marea Resort Hotel in Encinitas; CSUSM Senior Experience Program / Agua Hedionda Lagoon Foundation Project; Expansion of Thermo Fisher in Carlsbad; Escondido Grand Avenue Project; and the opening of Oceanside Beachfront Resorts. Additionally, the 2021 Bill Horn North County Steward Award was presented to the four major health care systems: Tri-City Medical Center, Kaiser Permanente, Palomar Health, and Scripps Health, for heroic efforts by frontline health workers. North County line during the pandemic. The council created a new award, the Kevin Ham Impact Award, to recognize someone who has had a significant and lasting impact on the prosperity of North County and exemplifies servant leadership. Ham is Vista’s recently retired director of economic development who has been instrumental in expanding the city’s business park, revitalizing downtown Vista, growing the area’s craft brewing industry and other programs and initiatives. Visit sdnedc.org.

OCEANS SIDE

Young professionals meet on Thursday

The Oceanside Young Professionals Network is hosting its first meeting of the year from 5-7 p.m. Thursday at Solis Team Real Estate, 206 N. Freeman St. The Solis team will be lighting the pizza oven and providing beverages for all attendees . The free event is open to all young professionals in North County, not just members of the Oceanside Chamber. Registration is required at bit.ly/3AEWimz.

POWAY

The acupuncture company organizes the cutting of the ribbon

The Poway Chamber of Commerce is hosting a grand opening and grand opening at noon Thursday at Acupuncture Wellness, 16486 Bernardo Center Drive, Suite 170, San Diego. The event is free to the public, but registration is required at bit.ly/3H3FVCn. Certified acupuncturist, Jennifer Antoine holds a doctorate in acupuncture and Chinese medicine. She specializes in difficult and chronic conditions. Hours of operation are 9 a.m. to 2 p.m. Monday to Friday. Call (858) 312-9319; send an e-mail to [email protected]; visit powayacu.com.

Send articles at least two weeks before events to [email protected] Please put “Business News” in the subject line.

Second chance for Thoroughbreds in 7-3 win over Southern Maine

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SARATOGA SPRINGS, NY—The Skidmore College men’s hockey team scored a season-high seven goals in a 7-3 New England Hockey Conference win over Southern University. Maine Saturday night at the Saratoga Springs skating rink.

The win keeps Skidmore (13-7-1, 8-5-1 NEHC) in fourth place, just a three-point victory in regulation behind leader Hobart. The teams compete on February 5 in Geneva. Southern Maine is 7-8-1 and 5-5-1 NEHC.

The Thoroughbreds scored five rebounds, firing 48 shots on USM goaltender Mason Palmer.

Callahan Johnson and Kaeden Patrick scored two goals apiece, with Johnson adding an assist. Jack Strauss, Thomas Finkand Devon Mussio represented the other objectives. Mike Gelatt, Will Dow Kenny and Zach Lindewirth each got two assists.

Skidmore took a 3-0 lead in the first period. Strauss opened the scoring at 1:21 from austin tower and Kyle Delmaestro. The Thoroughbreds closed the period with two goals in 14 seconds. Johnson from Dow-Kenny and Lindewirth at 6:13 p.m. and Mussio from Everett Wardle at 6:27 p.m.

The Huskies scored three times in the first 6:43 of the second period to tie it 3-3. The Thoroughbreds responded with three runs to open a 6-3 lead. Finck started at 7:20 from Johnson and Lindewirth. Johnson made it 5-3 at 10:35 from Mussio and Dow-Kenny. Patrick closed the period with his 10and of the season at 3:54 p.m. from Gelatt.

Patrick picked up his 11and goal at 8:16 of the third with Reid Russell and Gelatt winning the assists.

Skidmore had a solid 48-29 shooting advantage. Blaine Moore improved to 4-0 with 26 saves.

The Thoroughbreds have four regular season games left, starting with the program’s first-ever game at Elmira College on Feb. 4 at 7 p.m.

Live transfer news updates: Manchester United, Arsenal, Liverpool, Chelsea, Tottenham and more

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More here from Andy Jones on a hopelessly disappointing morning for Burnley:

Dinamo Zagreb have announced that Mislav Orsic will stay at the club, dealing a blow to Burnley who were in advanced negotiations to sign the Croatia international.

Athleticism understands Burnley were surprised by Saturday morning’s announcement, in which Zagreb said 29-year-old Orsic would stay at the club for the rest of the season.

Talks between the two clubs were at an advanced stage, with Burnley chairman Alan Pace traveling to Croatia on Friday to hold face-to-face negotiations.

There were suggestions that a deal between the two sides was very close as early as Tuesday – but negotiations didn’t always go smoothly and Dinamo’s determination to play Orsic in an important league game on Sunday added an extra layer complication in the talks.

It’s understood Burnley haven’t completely given up hope of signing Orsic – but a deal for the winger is now much more likely to happen this summer.

It no longer serves Burnley now. The club were hoping to add a wide midfielder in the January window as they needed reinforcements to help their survival, particularly after Chris Wood’s departure to Newcastle United.

Sean Dyche’s side are bottom of the Premier League table.

That now leaves Burnley and Pace scrambling to find solutions with time ticking and Monday’s transfer deadline fast approaching.

Millions of retirees forced into debt to meet food and energy bills

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Millions of pensioners have been forced into debt or cut spending as the cost of living crisis rages and the state pension loses value.

The government’s controversial suspension of the ‘triple lockdown’ will mean more than 12 million pensioners will lose their purchasing power in April if it fails to keep up with inflation. Pensioners will be among the hardest hit after inflation hit a 30-year high of 5.4% last month.

Two in five pension plans said they would consider taking on debt to manage the rising cost of living. Nine million, almost half of those over 65, said they should heat their homes less, according to Age UK, the charity.

One in four people said they would have to choose between heating their home and buying food if energy bills increased significantly. Gas and electricity prices could rise by more than £700 to reach £2,000, according to Martin Young, energy analyst at Investec, an investment bank.

Retirees face some of the highest energy bills in the country as they spend a greater proportion of their income on heating their homes. The government is under increasing pressure to step in and ease the burden on households, but has yet to announce any support measures.

Caroline Abrahams of Age UK urged the government to stop ‘dragging its feet’ as the energy crisis worsens. “The rapidly rising cost of living is causing enormous anxiety among older people, putting growing numbers of people in dire financial straits,” she said.