Organization company – Ron Bercume http://ronbercume.com/ Tue, 13 Sep 2022 20:55:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ronbercume.com/wp-content/uploads/2021/10/icon-23-120x120.png Organization company – Ron Bercume http://ronbercume.com/ 32 32 First-Ever False Claims Act Settlement Received From Paycheck Protection Program Lender | USAO-SDTX https://ronbercume.com/first-ever-false-claims-act-settlement-received-from-paycheck-protection-program-lender-usao-sdtx/ Tue, 13 Sep 2022 20:55:00 +0000 https://ronbercume.com/first-ever-false-claims-act-settlement-received-from-paycheck-protection-program-lender-usao-sdtx/ HOUSTON — Prosperity Bank has agreed to pay $18,673.50 to resolve allegations that it mishandled a Paycheck Protection Program (PPP) loan on behalf of an ineligible client, the U.S. attorney has announced. Jennifer B. Lowery. Prosperity Bank is a regional bank with branches throughout Texas and Oklahoma. It is a subsidiary of Prosperity Bancshares Inc. […]]]>

HOUSTON — Prosperity Bank has agreed to pay $18,673.50 to resolve allegations that it mishandled a Paycheck Protection Program (PPP) loan on behalf of an ineligible client, the U.S. attorney has announced. Jennifer B. Lowery.

Prosperity Bank is a regional bank with branches throughout Texas and Oklahoma. It is a subsidiary of Prosperity Bancshares Inc.

The CARES (Coronavirus Aid, Relief and Economic Security) Act authorized the issuance of PPP loans to help small businesses in economic difficulty during the pandemic. These loans would be canceled if certain conditions were met.

Lenders like Prosperity Bank that issued PPP loans were eligible to receive a fixed fee from the Small Business Administration (SBA). This commission varied from 1% to 5% depending on the size of the loan.

In May 2020, Prosperity Bank approved and processed a $213,400 PPP loan for Woodlands Pain Institute PLLC. The PPP application included a question asking whether the applicant (or anyone with more than 20% equity) is the subject of an indictment, criminal investigation, indictment or other means by which formal criminal charges are brought in a jurisdiction.

Dr. Emad Bishai was the sole owner of Woodlands Pain Institute PLLC. However, at the time of the request, Bishai was facing criminal charges in Montgomery County due to his practice of prescribing opioid drugs. When he completed the application, he checked the box marked “No” and initialed his name below the question.

At that time, Prosperity Bank employees knew that Bishai was facing charges and therefore was ineligible to apply for the PPP loan. However, the bank processed the request anyway and falsely granted the money to Bishai. As a result, Prosperity Bank received a 5% processing fee of $10,670 to which it was not entitled.

Bishai reached a $523,331 settlement in November 2021 to resolve his liability arising from fraudulent medical billing and his submission of the PPP loan application. It also repaid the PPP loan in full in 2022.

The settlement announced today is believed to be the nation’s first settlement with a PPP lender under the False Claims Act. The settlement amount also reflects Prosperity Bank’s efforts to cooperate with the government’s investigation and provide relevant facts as well as its implementation of additional compliance measures.

The SBA’s Office of Litigation provided assistance. Assistant U.S. Attorney Brad Gray handled the case.

The claims resolved by the settlement are allegations only and no liability has been determined.

]]>
BBB warns against predatory payday loan companies https://ronbercume.com/bbb-warns-against-predatory-payday-loan-companies/ Mon, 12 Sep 2022 15:43:00 +0000 https://ronbercume.com/bbb-warns-against-predatory-payday-loan-companies/ WICHITA FALLS, Texas (KAUZ) — The Better Business Bureau warns of predatory payday loan companies and fraudsters who thrive among unequal laws and stolen data. Amid inflation, the COVID-19 pandemic and job losses, many consumers have turned to payday loans for short-term solutions, according to the BBB. This would have allowed predatory lenders to thrive; […]]]>

WICHITA FALLS, Texas (KAUZ) — The Better Business Bureau warns of predatory payday loan companies and fraudsters who thrive among unequal laws and stolen data.

Amid inflation, the COVID-19 pandemic and job losses, many consumers have turned to payday loans for short-term solutions, according to the BBB. This would have allowed predatory lenders to thrive; many borrowers are still struggling with exorbitant interest rates and opaque fees. It has also created a fertile environment for scammers.

The BBB has published the following highlights and observations from a study:

  • From 2019 to July 2022, the BBB received nearly 3,000 customer complaints about payday loan companies, with a disputed dollar amount of nearly $3 million.
  • The payday loan market is a mix of genuine payday loan companies and scammers – these scammers pose as payday loan lenders or collectors; online payday loan makes it harder to tell the difference
  • Although legal, some real payday loan companies may use deceptive practices with triple-digit interest rates and opaque loan fees.
  • Whether real or fake, the payday loan solution can leave consumers even more in debt, with some facing bankruptcy, eviction and despair.

BBB officials advise consumers to research all their borrowing options thoroughly before signing anything for a short-term loan. They also recommend reviewing the terms and conditions of a payday loan.

Find more information on the BBB, Click here.

]]>
Top consumer finance stocks to buy in 2022 https://ronbercume.com/top-consumer-finance-stocks-to-buy-in-2022/ Fri, 02 Sep 2022 14:44:14 +0000 https://ronbercume.com/top-consumer-finance-stocks-to-buy-in-2022/ The consumer credit industry has seen a surge in demand over the past few years. With growing populations across the world, increased urbanization and rising levels of education have led to an increase in the purchasing power of millennials. Different financial services companies cater to the varying needs of consumers at different stages of life. […]]]>

The consumer credit industry has seen a surge in demand over the past few years. With growing populations across the world, increased urbanization and rising levels of education have led to an increase in the purchasing power of millennials. Different financial services companies cater to the varying needs of consumers at different stages of life. These include home financing, consumer loans, student loans, insurance services, trust funds and more. The consumer credit industry is fragmented with several small public companies that are volatile but have high growth potential for those willing to take risks. Read on to learn more about these stocks and how you can invest in them.

FirstCash Holdings (FCFS)

Headquarters: Austin, TexasCEO: Robert W. Hale Established: 1995 Trade Name: First Cash FirstCash Holdings, Inc. is a leading provider of branded consumer financial products and services in North America. The Company offers a wide range of products and services, including payday loans, deposit advance products, installment loans, lines of credit and cash cards. As of November 30, 2018, the company had 1,015 outlets in 15 states, Puerto Rico, U.FCFS has a market capitalization of $3.3 billion. The Company’s net earnings increased 5.6% to $82.2 million in fiscal 2018 from $77.0 million in fiscal 2017. Diluted net earnings per share for the Company rose 5.6% to $1.53 in fiscal 2018 from $1.43 in fiscal 2017.

IQVIA Holdings (IQV)

Headquarters: Wakefield, Massachusetts CEO: George M. Kern Established: 1999 Brand Name: Quintiles Quintiles Transnational Holdings Inc. (Quintiles) is a global contract research organization (CRO) providing drug discovery and development, bioscience, health care information, analytics and health economics and outcomes (HEHO) services to biopharmaceutical companies, pharmaceutical and biotechnology discovery and development, biopharmaceutical companies, medical devices, diagnostics development and manufacturing organizations, government agencies and other health sector organizations. The Company’s net income increased to $1.8 billion in fiscal 2018 from $1.3 billion in fiscal 2017. The Company’s operating income increased to 2 $.2 billion in fiscal 2018, compared to $1.7 billion in fiscal 2017. The Company’s net income increased to $6.23 in fiscal 2018, compared to $3.86 in fiscal 2017.

ICON plc (ICLR)

Headquarters: London, United KingdomCEO: Adrian C. GorelikEstablished: 2004Brand name: First DirectICON plc is a multinational financial technology company serving customers in the United Kingdom, United States, Canada, Australia and New -Zealand. The Company is engaged in providing savings and investment services, including savings accounts, ISAs and SIPPs, mortgages, insurance and credit card facilities through its platforms digital banking, which have been dubbed “First Direct” for personal banking services, and “FSB” for merchant banking. The Company’s net income increased to $1.1 billion in fiscal 2018 from $794 million in fiscal 2017. The Company’s operating income increased to $1.2 billion in fiscal 2018, compared to $893 million in fiscal 2017. The Company’s net income increased to $6.74 in fiscal 2018 from 4, $62 in fiscal year 2017.

NeoGenomics (NEO)

Headquarters: Thousand Oaks, CA: Donald J. FisherFounded: 2005Brand Name: MyPathMyPath is NeoGenomics’ proprietary, fully automated, high-throughput, sequencing-based genomic test panel that analyzes the entire genome to identify mutations inherited mutations in an individual’s complete DNA sequence, as well as clinically relevant mutations that can be found in only a few genes. The Company’s net income increased to $43.2 million in fiscal 2017 from $36.8 million in fiscal 2016. The Company’s operating income increased to $46. $38.6 million in fiscal 2017 compared to $38.6 million in fiscal 2016. The Company’s net income increased to $1.34 in fiscal 2017 from $1.34 million in fiscal 2017 $00 in fiscal year 2016.

Conclusion

The consumer credit industry has seen a surge in demand over the past few years. With growing populations across the world, increased urbanization and rising levels of education have led to an increase in the purchasing power of millennials. Different financial services companies cater to the varying needs of consumers at different stages of life. These include home financing, consumer loans, student loans, insurance services, trust funds and more. The consumer credit industry is fragmented with several small public companies that are volatile but have high growth potential for those willing to take risks. Read on to learn more about these stocks and how you can invest in them.

]]>
High interest loans are legal in Texas with some lenders https://ronbercume.com/high-interest-loans-are-legal-in-texas-with-some-lenders/ Fri, 02 Sep 2022 03:21:00 +0000 https://ronbercume.com/high-interest-loans-are-legal-in-texas-with-some-lenders/ Proponents say Texas has some of the weakest laws to protect consumers from what they call predatory lending. HOUSTON — Even on a good week, Lexi, 28, struggled to make ends meet. The college-educated single mother is employed as a computer coding instructor at an after-school learning center. But inflation, soaring grocery prices and unexpected […]]]>


Proponents say Texas has some of the weakest laws to protect consumers from what they call predatory lending.

HOUSTON — Even on a good week, Lexi, 28, struggled to make ends meet.

The college-educated single mother is employed as a computer coding instructor at an after-school learning center. But inflation, soaring grocery prices and unexpected car repair bills have recently left her unable to pay rent.

She was days away from getting kicked out of her apartment with her three young daughters.

“I was desperate. I needed money. I didn’t want to be kicked out and I didn’t know what I was doing either,” Lexi said.

She asked News KHOU 11 not to use his last name.

Her desperation led to a Google search for “quick loans” and soon Lexi received three offers to lend her money. Admittedly naive when it comes to finances, she didn’t read the fine print of the terms and conditions – CreditNinja had an interest rate of 447%, it was 680% Speedy Cash and a whopping 767% APR of the NextLoan company.

RELATED: Your Credit Score Can Rise! Many bad debts will soon be erased

“Outrage, shock,” said Lexi’s boss at the after-school computer learning center, Ellecia Knolle.

Knolle said most of his employee’s salary was quickly eaten up by the three lenders. The $2,600 in loans Lexi had taken out would require $13,067 to be repaid over two years.

“It’s just not fair,” Knolle said. “This activity preys on the poor.”

Consumer protection advocates have seen an increase in short-term lending during tough economic times. They’re advertised as payday loans, car title loans and cash advances or installment loans, but regardless of the name, advocates warn the danger is the same – a financial crater that many consumers don’t. can’t get out.

So how can exorbitant interest rates be legal?

“It’s a question I get asked all the time,” director of the Fair Financial Services Project at Texas apple seedpartner of Texas Fair Lending Alliance, said Ann Baddour. “People think, ‘Don’t we have price caps? Don’t we have usury laws? But these companies somehow infiltrated through a crack in the system.”

RELATED: Can’t Pay Your Bills? what you can do

Baddour explained that under the Texas Constitution, banks cannot charge more than 10% interest and anything over that amount is considered abusive. But she said payday lenders aren’t actually lenders, but rather brokers or “access to credit companies” who arrange the loans. While the Texas legislature requires CABs to be licensed under the state’s Credit Services Organization Act, there is no cap on the fees they can charge.

“He has a regulation veneer,” Baddour said. “And because Texas has extremely lax laws, on the face of it, nothing they do breaks the law here.”

Elsewhere, exorbitant interest rates are prohibited. Sixteen other states and Washington DC have banned high-cost short-term loans. Many have caps on interest rates, including fees, at 36%.

Speedy Cash and NextLoan did not return requests for comment. A CreditNinja spokesperson said the company provides detailed cost estimates for its website and offers Texas customers a 10-day, no-questions-asked cancellation policy in case a borrower changes their mind. The company also said it was offering repayment assistance to struggling customers.

“Thousands of our customers have reviewed our credit products on TrustPilot and we are proud to have an excellent rating, which reflects our commitment to excellent customer service,” a CreditNinja spokesperson said.

The company is a member of the Alliance of online lenderswho said access to credit companies help find risk-priced, low-value loans for people who would otherwise be turned away from banks, credit unions and other traditional lenders based on their credit history. credit.

“Online lenders are required by law to clearly disclose the terms, costs and conditions of each loan, giving borrowers the opportunity to make an informed financial decision,” said the executive director of the Alliance of Lenders in line, Andrew Duke.

While other states have banned exorbitant interest rates and fees, efforts to curb high-cost lending practices have repeatedly failed in the Texas legislature.

For borrowers like Lexi, that means having to protect themselves.

“I didn’t read the terms and conditions and then boom it happened,” Lexi said. “I just realized that I just dug myself into a hole that I don’t know how to get out of.”

United Way of Greater Houston offers financial counseling and assistance to low-income people through United Way BLOSSOM, a collaboration of community colleges and not-for-profit partner financial institutions.

“We’re helping families on the path to financial stability by increasing income, building up savings and acquiring assets,” said Senior Director of Financial Stability Aaron Sturgeon. “If anyone wants to connect to THRIVE, just call 211.”

]]>
24-Hour Check Cashing Near Me: 6 Places to Cash Checks After Hours https://ronbercume.com/24-hour-check-cashing-near-me-6-places-to-cash-checks-after-hours/ Mon, 29 Aug 2022 21:46:02 +0000 https://ronbercume.com/24-hour-check-cashing-near-me-6-places-to-cash-checks-after-hours/ Alina555/Getty Images/iStockphoto Sometimes you need to cash a check when your bank is closed. Or, maybe you don’t have a physical bank and don’t want to wait for mobile deposit to make your funds available. Check cashing services will cash your check, depending on the type of check and its amount. And since many of […]]]>

Alina555/Getty Images/iStockphoto

Sometimes you need to cash a check when your bank is closed. Or, maybe you don’t have a physical bank and don’t want to wait for mobile deposit to make your funds available.

Check cashing services will cash your check, depending on the type of check and its amount. And since many of these types of locations are open 24/7, you can cash that tax refund or veteran’s benefit check at 2 a.m. on Sunday morning if you want. wish.

Here’s what you need to know before you go.

Check cashing requirements

In general, you must bring with you some form of identification, such as a driver’s license, passport, resident alien ID card, military ID card, tribal or reserve ID card or a state-issued ID. You should also bring the check and your social security or tax ID number.

Most locations will only cash certain types of checks that they can verify immediately, such as government checks, bank or cashier’s checks, or money orders. Some establishments cash personal checks, but they may hold the funds for several days before releasing them to you, just to make sure the check clears.

Make sure you know how much you will pay in fees. In some cases, the amount of the check is what determines the fee; in others it is the check type. That $1,200 tax refund check may even cost less to cash than a $100 personal check, simply because there’s less chance of it bouncing. So if you’re shopping around for price, be sure to look at the price of the exact check you want to cash.

Places to cash checks after hours

Here are some places you can go if you need to cash a check after hours.

Payomatic

Payomatic is a chain of check cashing stores in New York. There are 129 stores in the five boroughs, but only some of them are open 24 hours a day.

When you bring a valid ID to a Payomatic location, you can cash a paycheck, government check including tax refunds, insurance paycheck, union check, money order and more Again. Payomatic does not cash personal checks.

Payomatic takes 2.27% of the amount of the check. So a check for $100 would cost $2.27 to cash. If you have a $2,000 tax refund, you will pay $45.40 to collect it.

Please 24/7

PLS has offices in 12 states: Arizona, California, Illinois, Indiana, Kentucky, Massachusetts, New York, North Carolina, Ohio, Oklahoma, Texas and Wisconsin. Many sites, but not all, are open 24 hours a day. PLS will cash paychecks, government checks, business checks and more, even if they are out of state. They will also cash personal checks.

The fee for cashing a paycheck, government benefit check or money order under $1,000 is 1% of the amount of the check plus $1. So a check for $100 would cost you $2 to cash. For checks over $1,000 or for other types of checks such as personal checks, the amount will vary depending on the type and amount of the check.

PLS also offers free money orders, utility and other bill payment service, Western Union money transfers and direct deposit. For direct deposit, your employer pays PLS and you can go there and withdraw your funds in cash.

Fast payment

Speedy Cash will cash benefit checks, cashiers checks, bank drafts, paychecks, student loan checks, unemployment checks, personal checks and more. Some checks require a hold before giving you the money, so you may have to wait for your money if it’s not a government check or paycheck.

Speedy Cash is present in 14 states: Arizona, Arkansas, California, Colorado, Georgia, Kansas, Kentucky, Mississippi, Missouri, Nevada, Oklahoma, Oregon, Tennessee and Texas. Some of their locations are open 24 hours a day, but not all of them.

At Speedy Cash, you’ll pay 2% to 2.50% of the check amount to cash a payroll or government check, with a minimum fee of $2. Other types of checks may incur higher fees.

In addition to check cashing services, Speedy Cash branches may offer payday loans, installment loans, title loans, personal lines of credit, money orders and MoneyGram money transfers.

Community Financial Services Center

The Community Financial Services Center has 200 locations nationwide that offer check cashing, money transfers, electronic bill payments, prepaid debit cards, foreign currency exchange, ATMs and more Again. Many sites are open 24/7.

CFSC will cash payroll checks, government checks including tax refunds, settlement checks, checks made payable to your company, and certain other types of checks. The fees they charge depend on the type of check and the state you are in.

walmart

Check cashing services are available at most Walmart stores. If the store is open 24/7, the check cashing service is also available 24/7. Walmart cashes preprinted checks, payroll and government checks, cashier’s checks, two-part personal checks and more.

Walmart charges a maximum fee of $4 to cash checks up to $1,000 and a maximum fee of $8 for checks over $1,000.

You can also deposit money to your bank debit card at a Walmart store, either at a cash register, at the MoneyCenter, or at a customer service center. You can deposit funds if your debit card is issued by one of 15,000 financial institutions in the United States. A $3.74 fee applies to deposit up to $1,000. The minimum deposit is $20.

Walmart also offers prepaid debit cards, MoneyGram, Western Union and Walmart2Walmart money transfers and more.

Kroger

Kroger Money Services offers check cashing at over 2,000 stores, as well as bill payment, debit card cashing, money orders, prepaid cards and more.

Fees for cashing checks at Kroger vary by store location and check amount, but at most stores you can cash a $100 check for $4.00 if you have a Kroger loyalty card . If you don’t, it will cost you $4.50. A check for $2,500 can be cashed for $7.00 with a Kroger card or $7.50 without. There is a $5,000 limit on checks.

After Hours Check Cashing FAQs

  • How can I get money with a check?
    • There are many check cashing services that will cash a check, but not all locations will cash all types of checks, at least not instantly. If you have a personal check in your name, you may have to shop around to find out who will cash it. And once they do, you can pay more than you would for a government check.
  • Can I cash a check through an ATM?
    • When you deposit a check at an ATM, the bank will usually “hold” the funds for a few days before you can access the money. They do this to be sure that the check will not be bounced. So if you need money right away, you will need to have at least the amount of the check in your account to be able to cash it at an ATM. What you are actually doing is depositing the check and withdrawing money from the funds that were already in the account.
  • Where can I cash a check without a bank account?
    • You can cash a check without a bank account at check cashing companies, like Payomatic, PLS 24/7, Speedy Cash, CSFC or at stores like Walmart or Kroger. You may also be able to cash a check at the bank it’s drawn on, even if you don’t have an account there.

Information is accurate as of August 22, 2022.

Editorial note: This content is not provided by any entity covered by this article. Any opinions, analyses, criticisms, evaluations, or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed, or otherwise endorsed by any entity named in this article.

About the Author

Karen Doyle is a personal finance writer with over 20 years of experience writing about investing, money management, and financial planning. His work has appeared on numerous news and finance websites, including GOBankingRates, Yahoo! Finance, MSN, USA Today, CNBC, Equifax.com, and more.

]]>
Not everyone has a bank account https://ronbercume.com/not-everyone-has-a-bank-account/ Fri, 26 Aug 2022 08:34:00 +0000 https://ronbercume.com/not-everyone-has-a-bank-account/ By Morf Morford, Tacoma Daily Index With all the news about booming real estate, stocks, cyber-currency and interest rate markets, it’s easy to forget some of us – an estimated 63 million Americans are, in fact, no banked or underbanked. It’s the term for those who don’t use banks to perform basic financial transactions like […]]]>

By Morf Morford, Tacoma Daily Index

With all the news about booming real estate, stocks, cyber-currency and interest rate markets, it’s easy to forget some of us – an estimated 63 million Americans are, in fact, no banked or underbanked.

It’s the term for those who don’t use banks to perform basic financial transactions like cashing checks, saving money, or applying for credit.

The main reason American households did not have a bank account in 2019 was because they were unable to meet and maintain minimum balance requirements.

To put it mildly, not having a bank account is a bit of a hassle.

Buying anything of value with cash is nearly impossible.

Renting is, at best, difficult without a bank account or credit score.

A 2021 Federal Reserve report on the economic well-being of American households found that about 5% of adults in the United States did not have a bank account in 2020, while 13% were underbanked, which meaning they had a bank account but also, for some reason, used a service like a money order or payday loan service.

What’s in your wallet?

On the other hand, 81% of American adults were fully banked, had a bank account, and did not use a service like a money order or check cashing service.

As you might guess, the report showed that unbanked and underbanked rates were higher among those with lower incomes and less education – although 1% of adults who earned $50,000 or more in 2020 were not also unbanked.

The research also showed that unbanked and underbanked rates were higher among blacks (13%) and Latinos (9%) than among whites and Asian Americans (3% each). ).

As you can imagine, education has a lot to do with our banking habits. Regarding education level, the report found that only 37.1% of households without a high school diploma used bank credit, compared to 87.5% of households with a college degree.

If someone you know is having trouble maintaining these minimum balances, there are other options. For example, Ally Bank and Capital One both offer checking and savings accounts with no minimum balance requirement and no maintenance fees.

Credit unions tend to be very flexible with these terms. They require membership, but qualifying as a member sometimes only requires that you live in a certain geographic area.

States with the highest percentages of unbanked individuals in 2019 – 7.6% or more of the local population – included New Mexico, Texas, Oklahoma, Louisiana, Mississippi, Tennessee, ‘Alabama and Connecticut.

Life without a bank account

Many years ago I had a male student who was unbanked.

He had been legally obligated to pay child support.

To avoid paying, he avoided any legal traces of work, income tax, or credit.

To be honest, it was complicated.

He could not rent an apartment in his own name.

To work, everything had to be “under the table” – no Social Security, no unemployment benefits, and to cash a check he had to go to a check cashing service which charged huge fees.

He had to pay – and be paid – in cash only.

As for a variety of government agencies, it literally did not exist.

I don’t know how long he’s been doing this, or if it seemed to work for him, but it certainly seemed like it would have been a lot easier to pay off his arrears – and open a bank account.

In other words, being unbanked is difficult and expensive.

In short, banks and credit unions make life work for most of us.

Whether it’s home loans or credit checks, or in many cases employment background checks, we rely on banks and credit unions in more ways than most of us realize. will never notice.

It’s weird when you think about it, but it makes sense; Sometimes the money we can’t see impacts our lives more than the money in our pockets.

Maybe money is more like information – it doesn’t matter what we have but what we have access to.

]]>
CFPB Sues Payday Lender for CFPA Violation | PC Weiner Brodsky Kider https://ronbercume.com/cfpb-sues-payday-lender-for-cfpa-violation-pc-weiner-brodsky-kider/ Thu, 25 Aug 2022 18:23:55 +0000 https://ronbercume.com/cfpb-sues-payday-lender-for-cfpa-violation-pc-weiner-brodsky-kider/ The CFPB recently submitted a complaint against a Texas-based payday lender in Texas federal court alleging that the lender engaged in unfair, deceptive and abusive practices by concealing free repayment plan options from eligible borrowers and initiating unauthorized withdrawals from consumer debit cards in violation of the Consumer Financial Protection Act of 2010 (CFPA). According […]]]>

The CFPB recently submitted a complaint against a Texas-based payday lender in Texas federal court alleging that the lender engaged in unfair, deceptive and abusive practices by concealing free repayment plan options from eligible borrowers and initiating unauthorized withdrawals from consumer debit cards in violation of the Consumer Financial Protection Act of 2010 (CFPA).

According to the CFPB complaint, the lender is required by its national trade association to offer free repayment plans that would allow borrowers to repay their outstanding balance in four equal installments over four pay periods without having to pay any fees or charges. additional interest. However, rather than informing borrowers of their right to these repayment options, the lender instead encouraged borrowers to re-borrow from the lender by refinancing their loans. Since 2014, this practice has resulted in borrowers paying more than $240 million in refinance fees while eligible for the free repayment plan.

In addition to the lender’s failure to notify borrowers of the availability of these repayment plans, the lender also attempted to collect loan repayment by making unauthorized withdrawals from consumers’ debit accounts. Once discovered, the lender claimed to have repaid all the money collected through unauthorized withdrawals dating back to January 1, 2018. However, the lender was unable to prove to Bureau examiners that any of the $1.3 million in unauthorized withdrawals was repaid to one of 3,000 affected borrowers.

This complaint follows a 2014 consent order against the same lender regarding alleged practices that also violated the CFPA when the lender encouraged consumers who could not repay their current loans to take out new loans, including additional fees. As a result of the consent order, the lender was ordered to pay $5 million to affected consumers as well as a $5 million fine.

The CFPB is seeking a permanent injunction against the lender, civil monetary penalties, attorneys’ fees, and any relief necessary to repair the harm caused to consumers.

]]>
Cryptocurrency-based Coinstore.com Unveils Term Credit Feature for Investors and More Latest News Here https://ronbercume.com/cryptocurrency-based-coinstore-com-unveils-term-credit-feature-for-investors-and-more-latest-news-here/ Mon, 22 Aug 2022 10:35:30 +0000 https://ronbercume.com/cryptocurrency-based-coinstore-com-unveils-term-credit-feature-for-investors-and-more-latest-news-here/ Cryptocurrency exchange Coinstore.com has announced the launch of its term credit feature, to allow users/investors to increase their cryptocurrency holdings without using their funds. Investors who prefer to buy and hold digital assets for an extended period of time can take advantage of future credit functionality to get more out of market movements. According to […]]]>

Cryptocurrency exchange Coinstore.com has announced the launch of its term credit feature, to allow users/investors to increase their cryptocurrency holdings without using their funds. Investors who prefer to buy and hold digital assets for an extended period of time can take advantage of future credit functionality to get more out of market movements.

According to Coinstore.com, its futures credit is a digital fund that lends rewards to its users to help understand the exchange’s perpetual futures trading so that eligible registered users can benefit from their participation. To provide registered users with more trading opportunities, the exchange claims to offer individual term credit for each USDT deposited. Users will be able to reap profits while taking advantage of Coinstore.com’s unique contract feature. Unlike spot trading where investors benefit when the price is up, futures and exchange features can give traders exposure to cryptocurrencies without the need to invest large amounts of assets under -lyings.

“We look forward to launching future credit functionality for our users across the world with the aim of providing liquidity to the cryptocurrency ecosystem in the form of a digital fund. Futures contracts were invented to reduce risk for producers, consumers and investors. However, it is advisable to trade or invest in products that you are familiar with and understand the risks associated with them,” said Jennifer Lu, co-founder of Coinstore.com.

Term credit offers users opportunities to profit regardless of the fluctuation in the price of the asset. The first appearance of index futures was made in India in 2000. Following this, single stock futures started a few years later. The higher a person’s trading volume, the greater their profit margin will be.

Going through the official website of Coinstore.com, it claims to have 180 employees globally who serve over 1.1 million registered users across 175 countries.

Also read: What are the different cryptocurrency scams on Twitter

follow us on TwitterFacebook, LinkedIn

Cryptocurrency-based Coinstore.com Unveils Term Credit Feature for Investors and Latest News Update

I tried to give all kinds of news to y’all latest news today 2022 through this site and you will like all this news very much because all the news that we always give in this news is always there. It’s on a trending topic and regardless of the latest news

it was always our effort to reach you that you continue to get the Electricity News, Degree News, Donation News, Bitcoin News, Trade News, Real Estate News, Gaming News, Trending News, Digital Marketing, Telecom News, Beauty News, Banking News, Travel News, Health New, Cryptocurrency News, Claims News the latest news and you always keep getting the news information for free through us and also tell people. Give that any information related to other types of news will be

Cryptocurrency-based Coinstore.com Unveils Term Credit Feature for Investors and More Live News

All this news I made and shared for you, you will like it very much and we keep bringing you topics like every time so you keep getting hot news like trending topics and you It’s our goal to be able to have

all kinds of news without going through us so that we can reach you the latest and best news for free so that you can go further by getting the information of this news with you. Later we will continue

to provide information on more world news update today types of latest news through posts on our website so that you always keep moving forward in this news and whatever type of information will be there, it will definitely be passed on to you.

Cryptocurrency-based Coinstore.com Unveils Term Credit Feature for Investors and More News Today

All this news that I have brought you or will be the most different and best news that you will not get anywhere, as well as the information Trending News, Latest News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News of this made available to you all so that you are always connected with the news, stay ahead of the game and continue to today’s news all types of news for free till today so you can get the news by getting it. Always take two steps forward

Credit goes to news website – This news website from the original content owner. This is not my content so if you want to read the original content you can follow the links below

Get original links here🡽

]]>
Missouri Legislature Backtracks on School Book Ban | Missouri News | Saint Louis https://ronbercume.com/missouri-legislature-backtracks-on-school-book-ban-missouri-news-saint-louis/ Tue, 16 Aug 2022 20:11:00 +0000 https://ronbercume.com/missouri-legislature-backtracks-on-school-book-ban-missouri-news-saint-louis/ Click to enlarge Librarians across the state are targeted by the legislature’s latest book ban. A bill passed by the Missouri state legislature will prohibit the provision of material containing “explicit sexual material” to students. If such material is found, violators could be charged with a Class A misdemeanor, carrying a maximum penalty of one […]]]>

Click to enlarge

Librarians across the state are targeted by the legislature’s latest book ban.

A bill passed by the Missouri state legislature will prohibit the provision of material containing “explicit sexual material” to students. If such material is found, violators could be charged with a Class A misdemeanor, carrying a maximum penalty of one year in prison and a $2,000 fine.

Senate Bill 775, which goes into effect August 28, specifically targets books, magazines, videos or online content that visually depicts sexual material, acts or genitalia in public and private schools. It does not apply to literary and written content.

Republican Senator Rick Brattin (Cass County), who drafted the amendment, says KSDK of several books which he found alarming, including, Fun Home: A Tragicomic Family by Alison Bechdel, Dead end by Jason Myers; and Gender Queer: A Memoir by Maia Kobabe.

“These novels contain graphic and pornographic material of sex acts and that’s what this language really dives into,” Brattin said.

When asked who would be held liable for explicit material, Brattin told KSDK, “Everyone in the school district is potentially liable if they subject kids to this stuff. It’s going to be the school boards, it’s going to be the teachers, it will be everyone will have to comb through to make sure they don’t present this to the kids.”

Tom Bastian, a spokesperson for the ACLU of Missouri, flouted the law in St. Louis Post-Dispatcharguing that it “narrowly defines ‘explicit sexual material'” and that libraries “already conform to well-established national screening criteria for selecting appropriate materials for their libraries”.

Left Bank Books owner Kris Kleindienst called it a “slippery slope” to KSDK and said lawmakers were using the language to ban books by LGBTQ authors and authors of color.

The new law provides an exception for “works of art, when taken as a whole, that have serious artistic significance, or works of anthropological significance, or materials used in science lessons, including , but not limited to, materials used in biology, anatomy, physiology, and sex education classes.

Already, this is starting to confuse librarians, some of whom are beginning to remove books.

In a statement responding to the decision, the Missouri School Librarians Association said it “represents all school librarians”.

“We understand the immense impact of taking on a challenge and will support our librarians to safeguard intellectual freedom,” the association said.

He suggested that school districts implement clear policies to prepare for book challenges.

In the event of a dispute over a book, the association provides librarians with help resources:

  • The Missouri Library Association Intellectual Freedom Committee may draft a letter that can be sent to the school district administration and/or school board.
  • The American Library Association’s Office for Intellectual Freedom can help with book-related challenges, including finding reviews to support contested material.
  • The executive board of the Missouri Association of School Librarians may write a letter of support to the school librarian and the disputed material if the school librarian requests it.
]]>
Fig Personal Loans Review 2022 https://ronbercume.com/fig-personal-loans-review-2022/ Thu, 11 Aug 2022 16:39:22 +0000 https://ronbercume.com/fig-personal-loans-review-2022/ Insider’s experts choose the best products and services to help you make informed decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page. The bottom line: Fig is a solid choice for borrowers who […]]]>

Insider’s experts choose the best products and services to help you make informed decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Fig personal loans

Regular APR

35.99% to 211% APR, depending on your condition

Regular APR

35.99% to 211% APR, depending on your condition

Advantages

  • No credit check
  • Low minimum loan amount
  • No late fees
  • Quick funding

The inconvenients

  • Very high APRs
  • Only available in 8 states
  • Low maximum loan amount
  • Income requirement

More information

  • Loan amount between $50 and $500, up to $1,000 for returning customers with a good payment history
  • Customer service by email or SMS, not available on weekends
  • Loans available to residents of California, Florida, Illinois, Missouri, New Mexico, Ohio, Texas and Utah
  • Need at least three months of direct deposits into your bank account of $1,400 per month or more

Depending on the state you live in, the terms of your loan vary:

Borrowers in certain states seeking larger loans (up to $1,000) may see their limit increased after developing a strong payment history with Fig.

Advantages and disadvantages of personal loans Fig

Who is Fig most for?

Fig is a good option for borrowers who might not qualify for a personal loan elsewhere due to their credit history. Fig primarily bases its lending decisions on your transaction history and income, as shown on your bank account statement. You will need to show approximately three months of direct deposits of $1,400 per month into your account.

However, Fig’s interest rates are closer to payday loan rates than traditional personal loan rates – so be very careful before taking one out. A payday loan is a short-term, high-cost unsecured loan with principal as part of your next paycheque. They can end up costing more than you borrowed and can trap you in a cycle of debt.

Comparison of personal loans Fig

All three lenders market themselves as alternatives to payday loans and offer slightly lower rates than their high-interest counterparts (many payday loans have interest rates around 400%). However, you will still pay a much higher interest rate with these three lenders than you would with a traditional personal lender.

Possible only has one term: two months. Opploans terms range from nine months to 24 months, depending on which state you live in. Fig has terms ranging from one to six months depending on where you live.

None of the three companies check your credit score, so they might be a good option for borrowers who have been turned down by other companies due to a bad credit history.

Compare personal loan rates

Is Fig trustworthy?

Fig Loans is currently not rated by the Better Business Bureau, a non-profit organization focused on consumer protection and trust. The BBB rates companies by evaluating their response to customer complaints, honesty in advertising and openness about business practices. Fig is not rated because the BBB does not have sufficient information to give a rating.

Fig has not been involved in any recent controversy or scandal. Although Fig isn’t rated by the BBB, his clean story may put you at ease about borrowing from the lender. Reach out to friends and family members before doing so to understand their experiences with Fig.

Frequently Asked Questions

Is Fig a legit company?

Yes, Fig is a legit company that offers personal loans to borrowers without checking their credit scores.

How hard is it to get a Fig loan?

It depends on your financial situation. To get a loan, you will need to show about three months of direct deposits of $1,400 per month into your bank account. If you do not meet this condition, you will not be able to obtain a loan.

How fast do you get a Fig loan?

Almost all borrowers get their funding within three business days, and 94% of borrowers receive their funds the next day after submitting their application, according to the FAQ section of Fig.

Can you repay a Fig loan early?

Yes, you can prepay a Fig loan without penalty.

]]>