Film festival budgets – Monte Carlo Film Festival Tue, 22 Nov 2022 18:30:40 +0000 en-US hourly 1 Film festival budgets – Monte Carlo Film Festival 32 32 CFPB Fall 2022 Supervision Highlights—Key Findings and Takeaways | Manatt, Phelps & Phillips, LLP Tue, 22 Nov 2022 18:20:11 +0000

On November 16, 2022, the Consumer Financial Protection Bureau (Bureau) released its Fall 2022 Monitoring Highlights. The 32-page report discusses key findings from the Bureau’s review in the areas of automotive care , consumer reporting, credit card services, debt collection, deposit accounts, origination and servicing of mortgages and payday loans between January 1 and June 30, 2022. A summary Notable findings from the report are below.

Repeat offenders under notice. The Bureau has created a special unit within the Oversight Bureau to prosecute repeat offenders, particularly entities and individuals who violate agency or court orders. The Repeat Offenders Unit will focus on ways to improve the detection of repeat offenders and develop a rapid response process to address the root cause of the violation and recommend corrective action, including a thorough review of corporate compliance court or agency orders. Targeting repeat offenders has been and will continue to be a top priority for Director Chopra.

Automatic maintenance. As it has done before, the Bureau focused on whether consumers who prepay their auto loans receive partial refunds for complementary products, such as secured asset protection, that they have purchased at the time of financing. Although these products are typically purchased from auto dealerships – in which case only the dealership, or a third-party administrator of the products, holds the money that should be reimbursed – the Bureau said some auto repairers violated the federal ban on ” unjust” acts or practices by “failure[ing] to ensure consumers receive refunds,” regardless of state law requirements. This is the second consecutive time that the Bureau has focused on this practice in Supervision Highlights. Automotive repairers must at least take reasonable steps at the time of a payment to ensure consumers are aware of their refund rights, in addition to complying with state laws that may require additional steps. .

The Bureau also found that servicers engaged in unfair and deceptive acts or practices by misleading consumers about loan modification approvals, charging consumers twice for warranty protection insurance, and incurring the device interrupting a consumer’s starter, rendering the car inoperable, when the repairer mistakenly believed the consumer was in default on a loan payment. Finally, the Bureau found during a review that some repairers made misleading claims during collection calls by telling consumers that their driver’s license or sticker would be suspended if they didn’t pay promptly. Although not specifically identified by the Bureau, such actions could also involve the Fair Debt Collection Practices Act (FDCPA) and state debt collection laws in cases where debt collectors collect their debts under an assumed name.

Consumer reports. The report noted violations of the Fair Credit Reporting Act (FCRA) and Regulation V by the two consumer reporting companies (CRCs) – the Bureau’s term for “consumer reporting agencies” as defined in the FCRA – as well as by consumer reporting providers. The CFPB found that CRCs failed to address complaints from consumers who challenged the accuracy of their credit reports and report those results to the Bureau, as required by the FCRA. For providers of consumer credit information, the Bureau found violations of the FCRA and Regulation V when such providers, among others, provided inaccurate information to CRCs when they knew that information was inaccurate. , failed to establish and implement reasonable written policies and procedures regarding the accuracy and integrity of information provided to a CRC, and failed to conduct reasonable investigations of direct disputes.

Credit card. The Bureau found instances where companies failed to comply with the billing error resolution provisions of Regulation Z, such as the requirement to resolve disputes within two full billing cycles or no later than 90 days, and the obligation to conduct reasonable investigation after receiving notices of billing errors. . Additionally, the report cited violations where credit card issuers failed to periodically assess whether it was appropriate to reduce a consumer’s APR after increasing it. Under Regulation Z, card issuers must reassess an account no later than six months after the rate increase.

Finally, the report identified deceptive acts or practices by entities for the marketing, sale and service of credit card add-on products, as well as misrepresentations regarding automatic card payment services. With respect to this latter violation, the Bureau found that consumers were likely misled into believing that signing up for the card’s automatic payment service automatically paid their minimum monthly account balance when, instead, they paid the same fixed amount each month. As a result, when the required minimum monthly payment increased, customers using the autopay service did not pay the full amount, resulting in late fees, finance charges, and other default charges.

Debt recovery. Collection agents were cited for violating the FDCPA by continuing to engage with consumers after consumers said the communication annoyed, harassed or abused them. The reviewers also found instances where debt collectors violated the FDCPA by communicating with someone other than the consumer when the third party had a similar name to the consumer. The Bureau cited similar violations in last summer’s surveillance highlights.

Deposit Accounts. How institutions have managed pandemic relief benefits continues to be a top priority for the Office. In 2021, the Bureau conducted prioritized assessments to assess how financial institutions handled pandemic relief benefits deposited into consumer accounts. In a follow-up review, reviewers identified risks of inequity at several deposit-taking institutions. For example, the report cites instances of institutions using protected unemployment insurance or economic impact payments to offset a negative account balance, seizing protected unemployment insurance or economic impact payments in violation of federal law and state, and dealing with out-of-state garnishments. orders in violation of applicable state law.

In particular, the Bureau emphasized the importance of state laws in protecting consumer funds held in deposit accounts and said failure to comply with applicable state law could result in an act or an unfair practice in violation of consumer financial protection law, as was the case in a recent Bureau enforcement action.

Origin of the mortgage. Supervised entities’ mortgage origination transactions have been cited for violations of Regulation Z where entities improperly reduced loan originator compensation to cover increases in settlement costs.

Separately, Regulation Z also prohibits loan agreements from containing disclaimers prohibiting consumers from bringing federal claims related to their mortgage. The Bureau cited a violation where an entity had a provision in its loan guarantee agreement that waived a consumer’s right to initiate or participate in a class action. The entity was required to remove the waiver provision and send notice to affected consumers rescinding and revoking the waiver, despite the fact that federal claims can be decided by arbitration.

Mortgage service. The CFPB continues its campaign against what it calls “junk fees”. In its report, the Bureau cited mortgage servicers engaging in abusive acts or practices by charging large telephone payment fees without disclosing their existence or cost. Additionally, earlier this year, the Bureau said in an advisory opinion that the federal Consumer Finance Act prohibits debt collectors from charging payment or convenience fees under the FDCPA.

The Bureau also found that repairers engaged in unfair acts and practices for violating the CARES Act by charging illegal fees during CARES Act forbearance (when the law prohibited them) and failing to comply with claims. forbearance in a timely manner.

Finally, the report discussed the deceptive acts or practices of mortgage agents for misrepresenting the amount of payments needed for a consumer to accept deferral offers at the end of their forbearance periods, and violations of Regulation X for not failing to assess consumers for all loss mitigation options and failing to provide accurate information.

Payday loan. The report found violations of a lender’s consent order when the entity failed to retain records of call recordings as required by that order to demonstrate full compliance with conduct provisions that prohibit false statements.

In South Dakota and Nebraska Deep Red, voters used ballot initiatives to reduce inequality Thu, 17 Nov 2022 22:06:45 +0000

This fall, in the run-up to the midterm elections, a group of Catholic nuns, Protestant ministers and other religious leaders caravanned through South Dakota on what they called a “Love Your Neighbor Tour.” .

They stopped at grocery stores, restaurants, senior centers, libraries and other community gathering places to start conversations about health insurance. They heard story after story of family members, friends and neighbors struggling to afford quality health care.

The purpose of this tour: to build support for a ballot initiative to help more South Dakotans get the care they need.

Through such initiatives, citizens can circumvent elected officials who have become disconnected from their constituents.

In this year’s elections, voters in more than 30 states committed to this form of direct democracy. These voters raised taxes on the wealthy in Massachusetts and Los Angeles, funded universal preschool and child care in New Mexico, and clamped down on medical debt in Arizona.

In South Dakota, the “Love Your Neighbor” campaign won big. By a margin of 56 to 44, voters approved a proposal to force their state government to expand Medicaid eligibility, a move that will help about 42,500 working-class people get treatment.

These people earn too much to qualify for the state’s existing Medicaid program, but too little to access private insurance through the Affordable Care Act. Since 2010, the federal government has covered 90% of the costs when states expand Medicaid, but political leaders in South Dakota and 11 other states have refused to do so.

Angela Linde, a South Dakota hairstylist who got involved in the campaign to expand Medicaid. Linde works two jobs but cannot afford health insurance. Credit: South Dakotans Decide Health Care.

This isn’t the first time South Dakotans have used effective strategies of people-to-people organizing and ballot initiatives for the good of their neighbors.

In 2016, a bipartisan coalition with strong support from the faith community won a stunning victory against financial predators, winning 76% support for an election measure to impose a 36% cap on loan interest rates. on salary. Previously, those rates averaged around 600% in South Dakota, trapping many low-income families in a downward spiral of debt.

In this midterm election season, Nebraska offers another inspiring example of citizen action to circumvent out-of-touch politicians.

For 13 years now, Republicans in Congress have blocked efforts to raise the federal minimum wage, leaving it stuck at $7.25 since 2009. Nebraska’s entire congressional delegation — all Republicans — has always opposed the hikes minimum wage. Rep. Adrian Smith, for example, recently attacked President Biden’s $15 federal minimum proposal as “economically harmful.”

Nebraskans see the issue differently.

Voters there approved an increase in the state minimum wage to the same level Biden has proposed — $15 an hour — by 2026. The measure, which was accepted with 58% support, will mean bigger paychecks for about 150,000 Nebraskans.

Achieve predicts moderate spending on gifts and travel for the 2022 holiday season Mon, 14 Nov 2022 20:00:00 +0000

Only 14% of US consumers say they set aside savings for holiday shopping.

SAN MATEO, Calif., November 14, 2022 /PRNewswire/ — Americans plan to take a restrained approach to gifts, travel and other spending this holiday season, a sentiment boosted by economic concerns over inflation, rising interest rates interest, layoffs and the threat of a looming recession, according to a new report by Reachthe leader in digital personal finance.

The 2022 Season Expenditure Reportpublished by the Achieve Center for Consumer Insights, found that 69% of American adults plan to cap their gift spending at $500 this year, while 14% said they had no intention of buying gifts. The report also found that only 14% of Americans say they have separate savings for vacation-related expenses, while one in five consumers wish they had created a dedicated vacation savings plan.

“While most Americans are planning limited travel this year, many still wish they had done a better job preparing financially for the holiday season,” said the co-founder and co-CEO of Achieve. Brad Stroh. “The large gap between consumers making holiday savings plans is particularly concerning, given that household debt is at peak levels and growing.”

The data and conclusions of the 2022 Season Expenditure Report are based on an online survey of 1,000 U.S. consumers ages 18-65, including a statistically significant sample of Gen Z adults. Data is representative of Census Bureau benchmarks of the U.S. population for the age, sex, race and ethnicity.

Stay home for the holidays

Nearly half of respondents plan to celebrate the holidays at home this year, while 28% say they have no plans at all. Of those who will travel, most plan to stay in the United States, usually to visit family. Respondents whose annual household income is greater than $100,000 are nearly three times more likely to take national holidays this holiday season than those with incomes below $100,000. The report also found that feelings about gifts vary by age, gender and relationship status.

  • Women were about twice as likely as men to say they put a lot of effort into choosing gifts.
  • Men were almost three times more likely than women to say they like giving away tech gadgets.
  • Baby boomers were the most likely to say they dislike giving gifts, while millennials and Gen Z were the most likely to say they were generous and caring.
  • Married respondents were more likely to consider themselves last-minute shoppers than single, engaged/living with a partner, or divorced/widowed consumers.

“Finances are a significant contributor to holiday stress,” Stroh said. “But consumers who stick to their budget and focus on their priorities this season will get through the holidays with less stress and potentially more money in their bank accounts.”

Holiday Payment Trends

Consumers plan to use a combination of methods to pay for holiday spending on gifts, new outfits, food and entertainment. Most will rely on available funds accessed from their bank accounts, supplemented by credit card spending. Although the overall use of paper checks is minimal, a surprising 9% of Millennials expect to use them, compared to only 4% in each of Gen Xers and Baby Boomers. Other payment methods, such as payday loans and money orders, play a much smaller role in most consumers’ holiday shopping.

  • While freebies can be moderate, 20% of respondents said they expect their credit card debt to increase by $1,000 or more during the holidays.
  • Gen X (5%) and Gen Y (6%) expect they will need the most help managing their vacation debt. Separately, 65% of baby boomers — the highest proportion of any generation — believe they will keep their spending under control.
  • Among those who expect to accumulate more than $5,000 In the case of holiday credit card debt, 17% think they will need outside help to settle their debt. Conversely, only 2% of consumers who plan to add less $500 credit card balance believe they will need the same kind of help.

Tips from Achieve: 5 Steps to Building a Holiday Budget

Many people resist making a budget because they think it only serves to limit spending. Instead, think of your budget as a tool that helps direct spending to the things that are most important to you. Any good budget is based on setting priorities and setting realistic goals.

  1. Figure out how much you can spend this year without incurring unnecessary debt.
  2. Carefully consider and list everything and everyone you plan to spend money on during the holiday season. Include gifts, greeting cards, decorations, holiday meals and year-end gratuities for service providers. Finally, don’t forget about future travel expenses, even if you’re only traveling across town to visit loved ones.
  3. Then start listing gift ideas and include prices. You may need to modify the gifts you want to buy to avoid going over your budget constraints.
  4. If the budget seems tight, but you don’t want to take someone off your gift list, the gift of time can mean so much more than a wrapped gift.
  5. Remember what your vision of vacations is and that vacations were never meant to create financial stress.

About the Achieve Consumer Information Center

The Achieve Center for Consumer Insights is an ongoing initiative that leverages Achieve’s team of digital personal finance experts to provide a view into the state of consumer finances. In addition to sharing insights drawn from Achieve’s proprietary data and analysis, Achieve’s Consumer Insights Hub publishes in-depth research, tailored data and thoughtful commentary in support of Achieve’s mission. Achieve to help everyday people borrow and stay on the path to a better financial future.

About Reach

Reach is the leader in digital personal finance. Our solutions help everyday people engage and stay on the path to a better financial future, through innovative technology and personalized coaching. Leveraging proprietary data and analytics, our solutions are tailored to every stage of a consumer’s financial journey and include personal loans, home loans, debt relief, and financial tools and education. . Based at San Mateo, CaliforniaAchieve has more than 2,700 dedicated employees across the country with centers in California, Arizona and Texas and has consistently been recognized as a better place to work.

Achieve and its affiliates are subsidiaries of Freedom Financial Network Funding, LLC, including, LLC d/b/a (NMLS ID #138464) Equal Housing Lender; Freedom Financial Asset Management, LLC (NMLS ID #227977); Freedom Resolution (NMLS ID #1248929); and Lendage, LLC d/b/a Achieve Loans (NMLS ID #1810501), Equal Housing Lender.


In Depth: Payday Loans and Offline Scams | Local News Fri, 11 Nov 2022 21:50:40 +0000

As we move online, so do scammers.

But that doesn’t mean other types of scams are going away.

While the Better Business Bureau reports that phone scams have dropped 42% since 2015, the same data shows that text scams have grown from 11% to 30% in just 7 years.

SMS scams are also the method with the highest financial loss, costing consumers an average of $800.

“Many businesses use text messages to inform their customers, but so do scammers,” said Rebecca Barr, BBB’s communications manager. “They know we might get a text, we get a lot of it, so they’re making fewer phone calls and more texting. And probably because they can just put a link right in there, hoping you click on it. and it’s a phishing link that will take you to a fake website, hoping to capture your information, might also download malware, so while text messages are great for business, they’re also great for scammers.

According to an investigative study by the BBB, the latest culprit to join the scam ring is payday lending.

From 2019 to July 2022, the study finds that 3,000 payday loan scams were reported, resulting in a loss of $3 million.

The Federal Consumer Financial Protection Bureau describes payday loans as small, short-term loans, typically $500 or less, that are repaid quickly on the borrower’s next income.

When it comes to payday loan scams, it could be scammers pretending to be a lending company to get your information, or it could be a legitimate business taking advantage of it.

“During the pandemic and now with inflation, people turning to payday loans, it kind of created this perfect storm of predatory behavior to thrive on consumers,” Barr said. “So that means they could bury the fees in the fine print, they have triple digit interest rates. But it’s hard to know that because the interest rates aren’t APR – they’re only not on an annual basis due to the nature of payday loans – it’s short term.”

So all of a sudden, consumers are falling into a debt trap – seeing interest rates in the double or triple digits – more than the original amount they borrowed.

Barr said what makes payday loans even more confusing are the regulations and restrictions that vary from state to state.

“We have Idahoans contacting us concerned about the interest rates charged by these types of lenders,” said Rachelle Littau, consumer specialist with the Idaho Attorney General’s Consumer Protection Division. . “And unfortunately, there’s not much our office can do about that because there’s no law in Idaho that caps the amount of interest that can be charged on a payday loan.”

“We have people telling us the interest rate is 30, 40% on some of these loans.”

Littau said what Idahoans can do is contact the Idaho Department of Finance, which regulates these types of loans. And Littau said Idahoans should contact their lawmakers and let them know something needs to be done legally to regulate these loans.

The BBB and AG office said it’s important to ask questions, always read the fine print, and make sure you’re dealing with a reputable company.

“You want to deal with a reputable, licensed company when looking for a payday loan company,” says Barr. “Especially when looking online it can be even more confusing, so local will be better.”

Littau said when it comes to scam trends, they don’t necessarily see a consistent pattern. They go in waves and cycles.

“The scammers follow the news,” she said. “When COVID first hit there were a lot of scammers pushing fake cures and treatments. There were scammers pretending to be contract tracers so they follow these news cycles. Right now , I would definitely encourage people to be on the lookout for scammers related to student loan forgiveness because it’s a big topic in the news and scammers are watching it.”

While everyone is at risk, data shows that more and more young people are being scammed.

“Young people actually report losing money to scammers more often than older people,” Littau said. “However, when older people report losing money, the dollar amount is much higher than younger people.”

The AG’s office said its best advice for any scam is to watch out for the four Ps:

1. To pretend – scammers will always pretend to be a person or organization you know or know well

2. Problem or price – there will always be a problem they will try to get you help with or they will claim there is a prize at stake

3. Pressure – scammers want you to act fast

4. Pay – scammers will ask you to pay in very specific ways, such as gift cards or bank transfers

“We’ll often say if it sounds too good to be true, it probably is, but for scams, we’ll reverse that as well,” Littau said. “If it sounds too bad to be true, it probably is too. They’ll tell you your social security number has been tied to a crime and if you don’t pay right away, we’ll send someone to your house for you. stop. It sounds scary and like it’s too bad to be true – it probably is.”

More information about scams and BBB-rated companies can be found at

You can also find information or report online scams to the Idaho Division of Consumer Protection.

15 Gift Cards People in Boise Really Want to Receive Tue, 08 Nov 2022 18:40:37 +0000

In 2019, Intuit’s MintLife surveyed Americans to determine exactly what people hope to receive for Christmas. The results were quite interesting!

According to Mint, 61% of Americans would rather receive cash or a gift card than a traditional gift during the holidays. Few of these people stand up and say that to the people who buy them, because… it sounds selfish, even though it’s not.

Last year we realized that our apartment had reached critical mass. There was no more room for “things” so we politely asked for Christmas gift cards as they wouldn’t take up much space and could be used for things we actually needed around the house.

Photo by Rob Laughter on Unsplash

Photo by Rob Laughter on Unsplash

Of course, this conversation was with our parents, which made it a little awkward because it’s super cute that they always want to buy their adult children gifts on Christmas when they don’t need them. Fortunately, it was well received. We ended up receiving a small purse the perfect size for concerts and sporting events, filled with gift cards.

Trust us when we say many of the people you shop for feel the same way. They would love this little gift that they could put in their purse and use for something they really want or need. You just have to make sure you pick the right one, so we’ve done a little homework for you.

After polling our listeners, we found out that these are the 15 most requested gift cards in Treasure Valley this holiday season!

15 Gift Cards People in Boise Really Want to Get This Christmas

Are gift cards impersonal gifts? Barely! Some people prefer them and they are the most in demand this holiday season!

Of course, if you receive a gift card that you can’t use… there’s a way to get some of that money back! Check it out!

The 5 Best Places to Get Cash Back for Gift Cards You Can’t Use in Boise

Gift cards are thoughtful and usually very useful gifts…unless someone bought you a gift card for a store that doesn’t have a location within 100 miles of Boise. Rather than keep them and let them go to waste, here are some places you can sell them for cash! We tried some of the options with a hypothetical $25 Dunkin’ Donuts gift card to see which offered the best deal.

14 Small Towns In and Around Idaho With Incredibly Festive Christmas Names

Did you know that Idaho is home to one of the most festive ZIP codes in America? Keep reading to learn more about this and other party towns surrounding the Gem State.

Yabx enters the Nigerian market and aims to double and diversify its business growth in Africa Thu, 03 Nov 2022 13:02:27 +0000

Plans to introduce new era fintech solutions around digital lending in the country; Will help banks launch new innovative products for new credit segments such as Buy Now Pay Later, personal loans, payday loans, MSME loans, etc.

Yabx, a FinTech company headquartered in the Netherlands, today announced its foray into Nigerian markets with a mission to democratize credit across the country through its digital lending offerings.

According to a World Bank report (, private credit bureau coverage in Nigeria was 13.9% in 2019. The numbers must have improved after the pandemic, but there there is still a long way to go. Yabx aims to bridge the gap between new credit segments and banks in Nigeria at scale and introduce new-era fintech products and solutions to the country’s high-demand markets.

The company will further scale up its local operations in Nigeria to capitalize on investments made in the country’s digital lending space.

Yabx has partnered with several African banks to create large, scalable and profitable digital loan portfolios by leveraging its fintech platform. In Nigeria, where banks have typically struggled to optimally underwrite their own captive base, Yabx will not only help banks broaden the horizon of services they offer to their captive base, but will also enable them to launch innovative new products such as Buy Now Pay Later, Personal Loans, Payday Loans, MSME Loans, etc.

Commenting on the expansion, Rajat Dayal, CEO and Founder of Yabx said, “While digital financial services have catalyzed financial inclusion, access to financial services and credit remains a barrier in countries like Nigeria. Without credit services available, small farmers, SME owners and new credit segments find it difficult to obtain loans to make profitable investments or pay off debts”.

“Today, banks and financial institutions in Nigeria are more than eager to partner with us and launch new innovative products for the new creditor segment. Our platform not only increases the reach of these banks, but also helps them play a major role in building a global credit score that will eventually help new credit segments in the country build a life without no outside help, Rajat added.

Yabx uses Big Data Analytics and AI/ML algorithms on large volumes of alternative data to create detailed financial identity of customers and help banks underwrite them through Yabx Loan origination and Lifecycle Management System. This creation and customer service can be done on different channels, such as the bank’s digital banking app, USSD channel, website, or even as integrated options in third-party apps.

Yabx’s growth and innovation has also been validated on the most reputable global platforms, ranging from the United Nations Capital Development Fund (UNCDF) to being recognized as “LendTech of the Year” at the 2022 Asia Fintech Awards. Fintech start-up also won the “Best BNPL Solutions Award” at the just-concluded Global Fintech Fest 2022. With such global recognition and presence already in place, Yabx is poised to accelerate its mission in the Nigerian market to open up corners of opportunities that did not exist before.

Distributed by APO Group on behalf of Yabx.

Media Contact:
Tuhina Choudhury I Marketing Manager I Yabx
E-mail – [email protected]
Mobile number – +91-7022854504

Social Handles:
Linkedin – @Yabx (
Facebook – @YabxTechnologies (

About Yabx:
Yabx aims to simplify financial access for new credit customers and MSMEs in emerging markets in Asia, Africa and Latin America.

Yabx offers financial control and choice to customers with or without a file. The company leverages technology and analytics to reduce the cost of providing financial services, thereby offering banking services to MSMEs and new credit segments. This is achieved through strategic partnerships with leading banks, microfinance institutions, credit bureaus, mobile financial service providers, mobile network operators and phone manufacturers.

Yabx operates in over 20 markets worldwide and has over 100 million customers. Incubated by Comviva, a global leader in mobile financial services, Yabx is part of the $21 billion Mahindra Group. Led by a team of industry experts and entrepreneurs, Yabx operates out of The Hague, New Delhi, Bogota and Nairobi.

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been verified or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.

What to do if you’re stuck with a payday loan | Opinion Fri, 28 Oct 2022 10:46:38 +0000

By Jessica Love

Have you ever had your car or truck stuck in the mud; and the harder you try to get out, the deeper your tires sink? I have.

So, I know from experience: unless you have the luxury of waiting for things to dry, you’re going to need some help – a push or a pull – to get unstuck.

And you’re probably going to feel a little embarrassed. I mean, technically, even if you had no intention of getting stuck, no one else was driving. Either you didn’t see the danger in front of you, or you thought it wouldn’t be so bad to go through it.

Even if you didn’t have a good way around it, or if you calculated the risk and thought you could get away with it, the fact remains that it happened and you were “at fault”. Thinking back on it, you wish you had done something other than the fix you were looking for – the one that caused your “tires to sink deep in mud and mud” (for others little blue truck fans).

Now imagine that the vehicle you are thinking of represents your family’s financial health and the process of “no more blocking” as a result of choosing the option to solve your short-term problem yourself – instead of asking for money. help or not to think of you had other options – represents a payday loan.

The “solution” then becomes a bigger problem to solve than the original problem.

That’s about where the analogy ends, since muddy patches don’t have business models designed to keep you stuck like payday lenders do. It’s by locking people in more that the profits are really made, where the interest rate eventually hits 391% in Indiana. And you really need to find a solution to your solution.

Consumer rights are worthless without enforcement | Opinion

This is why I often refer to the payday loan industry as one of the most subsidized markets in existence – because government and non-profit resources are so often needed to lift people out of disasters caused by payday loans.

What if it didn’t have to be like this?

One way forward is policy change. For now, the onus is largely on Congress, and your legislative action will help make the Fair Credit for Veterans and Consumers Act – which will cap all payday loans at 36% – a reality. You can also ask your state legislators to impose a 36% cap. But until and even after the legislation is passed, many Hoosiers will still need a more responsible way to borrow.

What if there was another route?

And if most of the 88% of Hoosier voters polled who said they would like to see Indiana have a 36% wage rate cap — who are able to provide another way — have paved the way for a solution alternative for their employees and co-workers?

The impact, to reinforce my analogy, would be shattering for Hoosier families who lack the resources to weather a financial shock.

A specific “bypass” – previously available in only 23 counties – recently became available in Indiana. If you’re a business owner, or an HR representative, or just someone who wants to talk to your boss about providing a financially viable option to those in your workplace, the solution I present to you is the Community Loan Center program.

It is a small, affordable, employer-focused loan program. So what’s the problem ?

Well, as difficult as it may seem, there really isn’t. For companies enrolled in the program, the CLC program is provided as a benefit at no cost to the employer. Employers literally only have to: 1) confirm employment when a loan is requested and 2) set up a payroll deduction in accordance with the employee’s repayment plan. By doing so, they instantly gain employees who are less stressed and more present for their work.

Made available through non-profit organisations, this affordable 12 month loan is designed to get people into or out of debt instead of trapping them. (CLC loans can be used to repay payday loans.) The reason is simple: nonprofit providers offering this program would rather focus their resources on improving a family’s economic trajectory than on bail out from the earthquake that stems from a payday loan.

Just think about how you could bring this alternative to your workplace – and actually help solve a colleague’s short-term financial problem in a way that makes it manageable and gets people out of trouble without getting stuck. .

Jessica Love is Executive Director of Prosperity Indiana, a statewide membership organization for individuals and organizations that strengthen Hoosier communities. She wrote this commentary for the Indiana Capital Chronicle, a sister site to the Pennsylvania Capital-Star, where it first appeared.

Paine Schwartz seeks 15% stake Tue, 25 Oct 2022 06:00:00 +0000

The buyer is believed to be Paine Schwartz Partners, which is based in New York and has investments in food and agribusiness companies globally.

The offeror reportedly has “no current intention” to make a takeover bid for the company. It requires FIRB approval before breaking the physical mark of 9.99%.

“At this stage, the stake is considered a long-term investment and the acquirer does not intend to make an offer to acquire control of CGC,” the term sheet said.

“The acquirer may potentially be interested in seeking a seat on the board if the FIRB condition is met.”

Paine’s Kevin Schwartz, who was president of Paine & Partners LLC and co-founder of the company in 2006, previously served on the board of Costa Group.

The buying appears opportunistic, coming just a week after the Costa Group’s earnings forecast was revised down. The downgrade saw its shares fall 15% to around $2.

Paine was seeking to acquire a 9.99% working interest, or 46.4 million shares, and enter into a forward contract with Citi for an additional 13.4 million shares, or 2.9% of the company.

He already had a 2.4% economic interest and a pre-commitment for a 4.95% stake from an existing Costa Group shareholder, according to the term sheet.

The Citi office was looking for salespeople at 7 p.m. Tuesday.

He comes in the middle of a wave of M&A in the food and agribusiness sectors in Australia. Canadian Cooke Inc reached a $1.1 billion deal to acquire salmon producer Tassal Group, while Brazil’s Minerva Goods signed a $400 million acquisition of lamb producer Australian Lamb Co at the end of last week and JBS last year took over pork producer Rivalea and salmon company Huon.

Now it’s Costa’s turn to attract attention. The group was previously partly owned by US private equity firm Paine & Partners, prior to its listing on the ASX in 2015.

more soon

WeDevelopment Federal Credit Union aims to stop predatory banks Sat, 22 Oct 2022 18:11:00 +0000

KANSAS CITY, Mo. — A project that was first discussed in 2007 came to fruition on Saturday.

A ribbon-cutting ceremony was held at WeDevelopment Federal Credit Union, located at 31st and Prospect in Kansas City, Missouri.

Dozens of community members and local leaders celebrated the new credit union which aims to help KC’s most financially challenged areas.

“I think it shows persistence, you don’t change the world all at once, sometimes these things are tough,” said KCMO Mayor Quinton Lucas.

Gwendolyn Washington, CEO of WeDevelopment, told KSHB 41 that the credit union will help keep people out of predatory lending companies, especially since the poverty rate near the location is around 30. %.

“When you have people on fixed incomes or who don’t make a lot of money, their emergencies might just be a $500 loan, that’s why they go to payday loans, but when they can go to a financial institution like WeDevelopment and they can take out a $500 loan with less than 20% interest, you know that’s where they need to come,” Washington said.

With priorities set on expanding access to banking services while educating members on how best to manage their finances, Mayor Lucas said the credit union is just the start of a better community. and safer.

“You see more businesses filling that intersection,” he said. “I think what you’re going to see is more people going back to the core of our city, more people developing, and in the long run a place that in 10 to 15 years looks very different. Having a lot more stores, having a lot more business and a lot less crime.”

There is still work to be done, but the credit union is scheduled to open to the community on December 5.

8 best places to make money right now Wed, 19 Oct 2022 22:33:13 +0000

Courtney Hale /

There are times when an emergency or an unexpected expense arises. If you don’t have an emergency fund to fall back on, you’re probably thinking, “I need money now,” and you don’t know where to find it. When payday is too far away to be useful, there are options and strategies that could help you quickly find the money you need to solve your problem.

1. Sell items

When you realize that “I need money now”, the fastest way to get some quick cash is to look at what you currently have and sell it. Selling stuff is a good way to declutter your life, especially if you’re not using the goods you plan to sell.

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Some of the most profitable items to sell and cash in quickly are:

  • Electronic devices such as mobile devices and video game consoles
  • Jewelry, especially gold
  • Designer items
  • Collectibles

Depending on the items you’re looking to sell, sources such as OfferUp, eBay, Craigslist, Facebook Marketplace, Swappa (for mobile/electronic devices), and Poshmark (for clothing and accessories) are good options. In most cases, all you need is to take clear photos of the items you are looking to sell and list them.

Do some research to determine the price of the item to sell quickly. And when you receive interest in your goods for sale, be sure to be careful when making a deal to avoid being scammed, especially on Craigslist, OfferUp, and Facebook Marketplace.

2. Take a side hustle

If you’ve exhausted your options to sell items, another good option is to take a side hustle to earn some quick cash. Some gigs don’t even require special skills to earn money now. The following platforms could help you increase your income quickly.

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Food and grocery deliveries

You can earn money quickly by working as a delivery driver. In most cases, you will need a mobile phone and an app download, a driver’s license and an insured vehicle. If you meet the application requirements, you could start earning today. Some platforms worth trying include:


Uber and Lyft are the two most popular apps to work for as a rideshare driver. You could work in your spare time to raise the money you seek. In many cases, working after hours could help you earn more.

If you are unsure about driving passengers, an alternative is to work as a parcel delivery driver for Amazon Flex.

Earn rewards

Some websites work with brands that pay you to take surveys, watch ads and videos, play games, shop online, and more. Signing up is simple – in many cases, all you need to do is enter an email address to get started and a PayPal account to make a withdrawal. In other cases, you can cash out with e-gift cards. Cash reward websites worth checking out are:

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Teach online

You don’t need to have any special skills to teach online. You can teach English to foreign students through websites such as VIPKid. Or you could be a homework tutor and advertise your services on Wyzant and TutorMe.

3. Rent your stuff

There are websites that allow you to list your property for rent. Why not make money from your existing assets, especially if you don’t use them all the time? Tools, spare parts, and vehicles are a few options. Some platforms worth checking out are:

4. Use your credit card

Having an open line of credit is a lifeline in an emergency. You can use your credit card to cover a last minute expense by using the card to make the purchase or get a cash advance.

keep in mind

A cash advance has higher fees than a regular purchase. And in both cases, you will have to pay off the balance on the card. Be sure to pay your installments on time to avoid damaging your credit and incurring additional fees and finance charges.

5. Take out a personal loan

If your credit card limit is not high enough to cover the expenses you need, a personal loan may be an alternative. However, personal loans often take time to apply for and be approved for – and require good credit.

For those who find it difficult to get a personal loan, payday loans or bad credit loans are available, but they come with very high interest rates which could create bigger problems later if you are not. not able to repay them quickly. Think of them as a last resort.

6. Look for public funding

Depending on the expenses you’re struggling with, you may be able to find government or community funding to help. There may be nonprofits or churches near you that could help. Some communities may offer short-term assistance that can help you with rent and utilities. Some hospitals offer subsidies or can write off hospital bills if you can’t afford it. The key is to research what is available in your city to find the help you need.

7. Pawned goods

If you have valuables that you are not ready to sell, you can pawn them. Wondering how a pawn works? You take your belongings to a pawn shop and the representative will appraise your items to determine what they are worth. They will lend you money based on the value of the item.

If you accept the loan, you will be paid, but you will have a certain period of time to repay the loan. If you do, your items are returned. If you are unable to repay the loan, the pawnbroker will keep your items and resell them to get their money back.

8. Ask for abstention

Forbearance basically means requesting a temporary deferral of your due payments. Although this option won’t put any money into your hand, it could free up some money that you would normally spend. Before choosing to delay any payments due, make sure you have your responsibilities clearly defined – you will need to make the payment in the future. Make sure you’ll be able to afford the payments later so you don’t find yourself in financial trouble.


Needing money now can happen to anyone. After all, life tends to throw the occasional curveball. You can walk through the situation with some knowledge of the types of options you might have. The options in this guide are some of the fastest ways to get money. Look for creative ways that help you avoid debt first.

Best Places to Earn Money FAQs

Many people have questions about ways to get money, the fastest way to do it, and where to start. Here are some answers to these questions.

  • How can I get money immediately?
    • One of the fastest ways to get money is to sell some of your possessions. It’s also a good way to declutter your life.
  • Who can give me free money?
    • Check with your local library or call 311 to find out if your community has programs that give you money for things like rent, groceries, or utilities.
  • Does Cash App allow you to borrow money?
  • How to make money in an hour?
    • You can earn money in an hour by selling goods, working as a delivery driver, or completing online surveys. This guide offers many ideas on how to get money fast.

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