Computer technology – Notizie Informatiche http://notizie-informatiche.com/ Thu, 17 Nov 2022 14:32:19 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://notizie-informatiche.com/wp-content/uploads/2021/10/icon-1-120x120.png Computer technology – Notizie Informatiche http://notizie-informatiche.com/ 32 32 JAMA Advocates for Reinstatement of Monthly Child Tax Credit Payments https://notizie-informatiche.com/jama-advocates-for-reinstatement-of-monthly-child-tax-credit-payments/ Thu, 17 Nov 2022 14:32:19 +0000 https://notizie-informatiche.com/jama-advocates-for-reinstatement-of-monthly-child-tax-credit-payments/ Image source: Getty Images Congress will have to turn a blind eye to reality if it refuses to reinstate monthly child tax credit payments. Key points In six months, the expansion of the child tax credit lifted 3.7 million children out of poverty. The month after the child tax credit expansion ended, food insecurity soared. […]]]>

Image source: Getty Images

Congress will have to turn a blind eye to reality if it refuses to reinstate monthly child tax credit payments.


Key points

  • In six months, the expansion of the child tax credit lifted 3.7 million children out of poverty.
  • The month after the child tax credit expansion ended, food insecurity soared.
  • JAMA urges Congress to reinstate the expanded child tax credit.

Last month’s edition of the Journal of the American Medical Association (JAMA) confirmed what dozens of other studies have found: food insecurity increased dramatically after Congress refused to extend tax credits children’s monthly federal.

A break for families

In 2021, as the country continued to battle COVID-related illnesses, the Biden administration successfully pushed the American Rescue Plan Act through Congress. The plan included three major changes to the child tax credit:

  • Expanded eligibility to include families earning little or no income.
  • Increase in credit amounts from $2,000 per child annually to $3,600 per child under age 6 and $3,000 per child age 6 to 17.
  • A provision that allowed families to receive half of the credit as an advanced monthly payment in their Bank account between July and December 2021.

For reasons we’ll get to in a moment, it’s important to note that no Republicans in the Senate or House of Representatives voted in favor of this family support.

Impact of the US bailout

JAMA highlights research conducted by the nonpartisan research group at the Brookings Institution. According to Brookings, the temporary tax credit extension lifted 3.7 million children out of poverty in December 2021.

Brookings found that expanding the Child Tax Credit significantly improved food security and also supported healthy eating. In addition, families were better equipped to combat pandemic-related inflation.

According to the Brookings Institution, there were other benefits associated with expanding the Child Tax Credit, including:

  • A drop in credit card debt, as families no longer need to pull out plastic to pay for necessities.
  • Fewer families relied on payday loans and pawnbrokers to get by.
  • Fewer parents had to sell blood plasma to earn money.
  • Some families have been able to start or build a emergency fund.
  • There has been a significant drop in the number of evictions.
  • Non-white households — including blacks and Hispanics — had funds available to cover child care and education costs.

In other words, life just got easier for over 35 million American households with children.

Then it’s over

When President Biden first proposed expanding the Child Tax Credit, he wanted it to continue until 2025. This would give families time to get back on their feet financially. Instead, the program was only due to run between July and December 2021.

After the monthly child tax credit installments ended, Democrats in Congress failed to get any of their fellow Republicans across the aisle to vote for an extension.

JAMA reports that after the first missed payment, food insecurity immediately increased. And in July, there was an almost 25% increase in the number of families without enough food. The most affected are low-income, single-adult, black, Hispanic and Indigenous households.

The JAMA article recommended: “The results of this study suggest that there was an increase in food insufficiency among households with children after they stopped receiving monthly child tax credit payments. children. lifetime, Congress should consider prompt action to reinstate this policy.”

To advance

Despite recommendations from health officials, hunger advocates, racial justice organizations and civil rights groups, it looks like the House of Representatives will return to Republican hands. Unless several representatives break with their party to support the reinstatement of the program, millions of families will continue to struggle to put food on the table.

If you would like to see the return of child tax credit payments, this link will help you connect with your elected officials.

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Ballot initiatives allow the people to avoid right-wing politicians in this election, so the right wants to abolish them https://notizie-informatiche.com/ballot-initiatives-allow-the-people-to-avoid-right-wing-politicians-in-this-election-so-the-right-wants-to-abolish-them/ Mon, 14 Nov 2022 05:04:43 +0000 https://notizie-informatiche.com/ballot-initiatives-allow-the-people-to-avoid-right-wing-politicians-in-this-election-so-the-right-wants-to-abolish-them/ By Sarah Anderson | – ( Otherwords.org) – This fall, in the run-up to the midterm elections, a group of Catholic nuns, Protestant ministers and other religious leaders caravanned in South Dakota for what they called a “Love Your Neighbour”. Citizens’ initiatives achieved great successes at mid-term. But now this form of direct democracy is […]]]>

By Sarah Anderson | –

( Otherwords.org) – This fall, in the run-up to the midterm elections, a group of Catholic nuns, Protestant ministers and other religious leaders caravanned in South Dakota for what they called a “Love Your Neighbour”.

Citizens’ initiatives achieved great successes at mid-term. But now this form of direct democracy is under attack.

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 over 30 states engaged in this form of direct democracy. These voters enshrined abortion rights in states like Michigan, 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 declined to do so.

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 an incredible victory against financial predators, winning 76% support for a ballot impose a 36% interest rate cap on payday loans. 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 sailed with 58% supportwill mean larger paychecks for approximately 150,000 Nebraskans.

Election measures like these can send a healthy wake-up call to political leaders who aren’t listening to their constituents. But some special interests, especially those with deep pockets and driven by narrow profit motives, don’t necessarily want ordinary Americans to be heard.

State legislatures across the country have seen a slew of bills aimed at restricting or eliminating the ballot measurement process. According to Voting Initiative Strategy Centerthe number of such bills has increased by 500% between 2017 and 2021. Dozens more have been introduced in 2022, including efforts to raise the threshold to pass a ballot measure beyond a one-way vote. simple majority.

The purpose of these restrictions? To undermine the will of the people.

At a time when more and more Americans are worried about the future of our democracy, we should applaud the advocates in South Dakota, Nebraska and elsewhere who engage their fellow citizens in the political decisions that affect their lives. .

We need more democracy. Not less.

Sarah Anderson directs the Global Economy Project and co-edits Inequality.org at the Institute for Policy Studies.

Otherwords.org

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NAF partners with Next Gen Personal Finance to increase access to personal finance education https://notizie-informatiche.com/naf-partners-with-next-gen-personal-finance-to-increase-access-to-personal-finance-education/ Thu, 10 Nov 2022 16:15:00 +0000 https://notizie-informatiche.com/naf-partners-with-next-gen-personal-finance-to-increase-access-to-personal-finance-education/ NEW YORK, November 10, 2022 /PRNewswire/ — NAF is thrilled to announce a new partnership with Next Gen Personal Finance (NGPF) that will increase access to personal finance education for tens of thousands of students in underinvested communities around the world. nationwide who attend NAF Academies of Finance – small, focused learning communities within existing […]]]>

NEW YORK, November 10, 2022 /PRNewswire/ — NAF is thrilled to announce a new partnership with Next Gen Personal Finance (NGPF) that will increase access to personal finance education for tens of thousands of students in underinvested communities around the world. nationwide who attend NAF Academies of Finance – small, focused learning communities within existing public high schools.

This partnership supports NAF’s work to address the economic and social disparities that have marginalized too many students in this country with NGPF’s open-source, high-quality, up-to-date personal finance programs and free professional development for students. teachers.

By using NGPF materials and training as an approved curriculum, NAF Academy of Finance teachers can spend more time teaching and building relationships with their students and less time writing ongoing updates. of the program to stay ahead of the ever-changing field of finance.

“We are thrilled to embark on this new partnership with NGPF. A big part of being Future Ready is financial literacy and access to personal finance education is an investment that will pay off for a lifetime, said CEO of ANF, Lisa Dughi. “NAF students and educators have much to gain from these offerings and will develop many important skills for their next steps in high school and beyond.”

NAF personal finance faculty will use the NGPF’s personal finance and financial algebra semester course syllabi, which are aligned with national standards. Additionally, they will participate in NGPF’s Professional Development (PD) opportunities, which include virtual PD, on-demand modules, and intensive 10-hour certification courses on specific financial topics.

“We welcome the opportunity to share our curriculum and professional development opportunities with NAF Finance Academies and their networks,” said NGPF Co-Founder, Tim Ranzetta. “Personal finance education aligns so well with NAF’s commitment to preparing students for the future.”

To research shows that having a background in personal finance has beneficial effects, including improved credit scores and student loan decisions, and reduced use of payday loans.

Eighty-eight percent of parents want schools to teach personal finance, but only 24% currently do. In communities serving a high percentage of black and Hispanic students and those serving disadvantaged students, access to financial education is only 5%.

For the 2021-2022 academic year, more than 30,000 students participated in 180 NAF Finance Academies across the country. Among these students, 85% were women and/or ethnic minorities. Ninety-eight percent of seniors in NAF academies have graduated, with 87% planning to go on to college. Additionally, NAF Academies focus on other growing industries, including hospitality and tourism, information technology, engineering, and health sciences.

About NAF:

NAF is a national, nonprofit organization that transforms the high school experience to prepare students for college, career, and future success. NAF’s instructional design is uniquely comprehensive in its approach to skills development, enabling students from all backgrounds to participate in a meaningful education and empowering businesses to shape America’s future workforce by transforming the working environment. learning to integrate STEM-infused and career-relevant curricula and work. – Internship-based learning experiences, including.

NAF has evolved from a NAF Academy of Finance to New York City to hundreds of academies across the country focused on growing industries including finance, hospitality and tourism, information technology, engineering, and health sciences; and support curricula that are aligned with the National Career Clusters Framework.

In the 2021-22 school year, more than 120,000 students attended 618 NAF academies in 35 states, plus DC, Porto Rico, and the US Virgin Islands. In 2021, NAF Academies reported that 99% of seniors graduated and 87% of graduates planned to go to college. For more information, please visit: http://naf.org/.

About Next Generation Personal Finance:

Next Generation Personal Finance (NGPF) is a non-profit organization committed to ensuring that all high school students complete a personal finance course before graduating. The NGPF has become the “one-stop-shop” for over 70,000 educators looking for an engaging, high-quality personal finance program to equip students with the skills they need to thrive in the future. NGPF invests in teacher professional development with virtual continuing education workshops, 10 certification courses, and over 40 asynchronous on-demand modules. NGPF has been recognized by Common Sense Education as “the best website for teachers to find lesson plans” and “the best business and financial games”.

Media Contacts:

Courtney Savoydeputy director, communications, NAF, [email protected]
Hannah RaelMarketing Communications Manager, Next Gen Personal Finance, [email protected]

SOURCE Next Generation Personal Finance

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OMNIS Wins Halloween Business Idea Pitch Contest https://notizie-informatiche.com/omnis-wins-halloween-business-idea-pitch-contest/ Thu, 03 Nov 2022 19:26:03 +0000 https://notizie-informatiche.com/omnis-wins-halloween-business-idea-pitch-contest/ Body of the review The fourth edition Halloween Presentation Contesthosted by the New business accelerator and the Herbert College of Commercesaw 19 teams compete for $5,000 in seed funding, in front of a panel of industry pro judges inside the Broadway Event Space and Theatre. Once the scores are counted, OMNIS emerged victorious and received […]]]>

Body of the review

The fourth edition Halloween Presentation Contesthosted by the New business accelerator and the Herbert College of Commercesaw 19 teams compete for $5,000 in seed funding, in front of a panel of industry pro judges inside the Broadway Event Space and Theatre.

Once the scores are counted, OMNIS emerged victorious and received $2,000 from the prize pool. OMNIS is a participatory social platform where individuals borrow money through short-term community and peer-to-peer microloans, and where others can borrow money to meet their immediate needs.

Zakariya Veasy, a senior software engineering specialist, founded OMNIS to solve the problem of people with limited credit histories being marginalized by traditional banks and exploited by predatory payday loan companies. “Far too often, the underbanked and unbanked are forced to turn to high-interest payday loans to stay afloat at 400% interest on average,” Veasy said. “The value proposition for OMNIS users is that it builds credit for underserved and neglected demographics. With OMNIS, users build community financial literacy and close generational wealth and credit gaps at across the country.

Other teams that have received funding include:

  • Rodopto, founded by Scott Rowe, uses drones to plant crops that can be converted into renewable diesel fuel and received $1,000.

  • Stretch & Go, founded by Josh Green and Tristin Pettus, is a device providing the critical method for stretching the hamstrings awarded $500

  • BAE, founded by William Murphy and Avery Arasin, is an app that allows students to connect with other students within their own college ecosystem awarded $500

  • AbGlo, founded by Marianne Madsen, Holli Michaels and Courtney Montague, is a fitness device that provides visual feedback to correct lower back posture received the $1,000 Special Category Award provided by the Thomas Walter Center for Technology Management.

The Halloween Business Idea Pitch Contest discovers and rewards early-stage business products, services, or concepts emerging from Auburn University students. Winner of last year, Room2Room Moversfounded by Brooks Fuller, a recent graduate of Harbert, is currently experiencing significant commercial success.

Special recognition and appreciation goes to the judges who supported this year’s competition:

Comments that competing teams share each year are that, while the prize money is important, ideas and offers of support from alumni, which will help them in their longer-term business planning efforts, are a long way off. the most valuable elements of the experience. It proves once again that the people of Auburn always come back and always give back.

Congratulations to all the teams that participated in the Halloween 2022 pitch contest: Atlas Esports – AbGlo – BAE – Balance Buddy – Bridal Jeans – Drop Out Flags – Flavivirus Resource Center – Gym Rat U – HyperTransport – Kaopetronite – LoLo Baking – Menu Match – OMNIS – Plainsman Financial Consulting – Rodopto – Seat Key – Stretch & Go – Tennis Taps – Your future is today.

NEXT : tiger cage where start-ups will compete for $50,000 in start-up capital!

Applications to participate in Tiger Cage must be submitted by November 16, with the competition starting on January 27.

To sign up for Tiger Cage, click here or contact Lou BifanoDirector of the New Venture Accelerator at loubifano@auburn.edu for more information.

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I applied for a $1,000 loan. Here is what happened. https://notizie-informatiche.com/i-applied-for-a-1000-loan-here-is-what-happened/ Tue, 01 Nov 2022 22:01:38 +0000 https://notizie-informatiche.com/i-applied-for-a-1000-loan-here-is-what-happened/ Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR. When my car broke down a few months ago and I needed quick cash for repairs, my friend recommended a company called ZippyLoan. They say you can borrow between $100 and $15,000 and […]]]>

Disclaimer: This is sponsored content. All views and opinions are those of the advertiser and do not reflect the same of WTKR.

When my car broke down a few months ago and I needed quick cash for repairs, my friend recommended a company called ZippyLoan.

They say you can borrow between $100 and $15,000 and have the money in your account by tomorrow, even if you have bad credit.

But are they legit or just another scam?

Keep reading to find out what happened when I tried ZippyLoan and if you should ask them for a loan too.

What is ZippyLoan?

If you’ve searched online for a personal or payday loan company, you’ve probably heard of ZippyLoan.

This is a free, no-obligation service that helps connect you with potential lenders.

If you’re looking for quick access to a personal loan through a simple, secure, and transparent process, ZippyLoan may be able to help.

Its website states that borrowers can avail unsecured personal loans with just proof of identity and a regular source of income.

Whether you need a loan for personal or family use, like making a major purchase, renovating your home, consolidating debt, or just covering an unexpected expense, ZippyLoan can help.

How ZippyLoan Works

FinanceProject

When you use ZippyLoan, you are not borrowing directly from the company.

They are not lenders and are not involved in the loan approval process.

Instead, ZippyLoan helps connect you with potential lenders who can lend you the money you need.

Here is an overview of how ZippyLoan works.

  1. The first step is to complete an online form. ZippyLoan says it takes less than 5 minutes. You can fill out this form on a desktop or mobile device 24 hours a day, 7 days a week, so there are no queues or waiting.
  2. The second step is that ZippyLoan tries to put you in touch with a lender who will make you a non-binding offer. It shares your information with lenders on its platform to see who may be able to help you. If you receive an offer and are happy with the terms of the loan, you can electronically sign a loan agreement on the spot and have your money deposited in your bank account the next business day.
  3. The third and final step is to repay your loan. If you take out a payday loan, you can pay on your next pay date. You can also opt for a personal loan that offers monthly repayment for up to 60 months.

To apply for a loan from ZippyLoan lenders, all you need is proof of identity and a regular source of income.

There is no minimum credit score, so you may be able to get approved for a loan regardless of your credit history.

This makes ZippyLoan one of the best places to apply for a personal loan if you have a low credit score.

Is it safe to use the ZippyLoan website?

Plugging your personal information into a website can be daunting, but ZippyLoan is safe and secure.

They are members of the Online Lenders Alliance (OLA) and are committed to high standards of conduct. If you have any problems, you can call the OLA Consumer Helpline (1-866-299-7585) for assistance.

ZippyLoan OLA.png

FinanceProject

Credit checks?

As ZippyLoan is not a lender, it does not perform credit checks, so your credit score will not be affected.

If you accept an offer, the lender will tell you whether they will do a soft or hard credit check before electronically signing your agreement.

Is it easy to use?

ZippyLoan’s online form is fully optimized for mobile devices, so you can apply for a personal loan wherever you are.

The form takes less than 5 minutes to complete and you should start receiving offers from lenders immediately.

Quick approvals?

One of the best features of ZippyLoan is that everything is done online so you can get approved quickly.

If a lender makes you an offer that suits you, you can sign the agreement online and receive your money the next business day.

Rates and Fees

Network lenders offer between $100 and $15,000 and are flexible on rates and fees.

The exact terms you are offered will depend on your personal circumstances and credit history, but here are some representative examples:

  • Short-term or payday loans are usually due in full in 14 days and cost between $10 and $30 per $100 borrowed.
  • Personal loans can be repaid over 6 to 60 months and have an annual rate (APR) of between 7.04% and 35.89%.

To give a fair review of ZippyLoan, I also wanted to give my opinion on some of the downsides of using the website.

Disadvantages of ZippyLoan?

Unfortunately, ZippyLoan is not available to residents of New York, District of Columbia, Oregon, or West Virginia.

And because it’s not a direct lender, it makes no promises that you’ll be approved or qualify for a certain rate on your loan.

Another thing to remember is that ZippyLoan won’t do a credit check when you fill out their form, but all the lenders you work with will.

Most lenders will do a credit check through one of the big three credit bureaus, Experian, Equifax or TransUnion.

This type of check can show up on your credit report and can worsen your score, so be sure to check with lenders before applying.

My experience with ZippyLoan

When my car broke down and needed repairs, I had to borrow $1,000 and asked ZippyLoan for help.

Here’s how it went.

  • The application process was very simple and it took me less than 5 minutes to enter all my information.
  • Within minutes I had loan offers from lenders ready to lend me. The terms of the loans were all written down and I could see what credit checks they wanted to do before I accepted the loan.
  • I decided to choose a lender who offered me a 14 day loan with a fee of $15 per $100. This meant I could borrow $1,000 for two weeks and had to pay back $1,150, which I thought was reasonable.
  • After accepting the offer, I had the $1,000 in my account the next day.

I found the whole process very easy and was able to get the money I needed quickly, and will use them again if I ever need emergency money.

If you’re looking for a quick loan to get you out of trouble and you’re sure you can pay it back, then I 100% recommend ZippyLoan.

Click here to visit the ZippyLoan website and request the money you need today.

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Global neobanking industry to reach $2 billion market size by 2030 https://notizie-informatiche.com/global-neobanking-industry-to-reach-2-billion-market-size-by-2030/ Sat, 29 Oct 2022 04:02:00 +0000 https://notizie-informatiche.com/global-neobanking-industry-to-reach-2-billion-market-size-by-2030/ Neobanks will represent a market size of over $2 trillion globally by 2030 and grow at a compound annual rate of 53.4% ​​as digitally savvy users increasingly demand easy financial services access, said the Boston Consulting Group. Regulatory changes combined with the massive internet adoption and smart technology will drive the growth of the sector, […]]]>

Neobanks will represent a market size of over $2 trillion globally by 2030 and grow at a compound annual rate of 53.4% ​​as digitally savvy users increasingly demand easy financial services access, said the Boston Consulting Group.

Regulatory changes combined with the massive internet adoption and smart technology will drive the growth of the sector, according to a report by the management consulting firm.

“The FinTech sector in the GCC is expected to be valued at $3.45 billion by 2026 as a direct result of a boom in growth rates for digital payments and digital remittancessaid Bhavya Kumar, Managing Director and Partner of BCG.

“As regulators ease barriers to entry, new businesses and established players are looking to capitalize on the demands of a young and highly connected population who want convenient, on-demand access to their finances and know what to expect in terms of sophisticated user experiences. »

Often referred to as challenger banks, neobanks are financial service providers that operate solely online and have no physical presence.

They offer digital mobile-first financial solutions for specific services long associated with traditional institutions such as retail banks, payment providers and international money transfer services, BCG said.

Neobanks are increasingly popular with Gen Z because they serve their needs better than traditional banks.

FinTech start-ups first emerged after the global financial crisis of 2007-2009. The ensuing upheaval in banking regulations and the rise of new technologies have enabled neobanks to disrupt the market with user-friendly services such as faster account opening times, peer-to-peer transfersconstitution of credits and payday loans.

Some traditional financial institutions responded to the challenge of neobanks, including in the Middle East.

Banks such as Abu Dhabi Commercial Bank, Emirates NBD and Mashreq quickly launched digital operations with Hayyak, book and Mashreq Neorespectively.

There are at least 333 neobanks worldwide, including start-ups and digital-only operations by incumbents, a tracker by The financial brand publication showed.

The number of neobanks has increased by more than 200% since 2015, according to BCG’s FinTech Control Tower report.

The growth of these institutions is driven by the need for on-demand, easy-to-access financial solutions sought by a young and increasingly digitally savvy population, BCG said.

“Traits that have often defined the success of neobanks include digital and mobile-centric services, exceptional user experiences, a lean and agile technology-driven culture, and building brands that users have an emotional connection with, indicates the report.

More than half of the GCC population is under 30 years old. The region has one of the highest connectivity rates in the world, with more than 90% of its population connected to the internet, far exceeding the global average of 51.4%, according to the research.

It is expected that around two-thirds of the GCC population will have 5G connections by 2026.

This combination makes the region ripe for FinTechs and neobanks to accelerate their growth, according to the report.

________

Watch: ADIB unveils first facial recognition service for account openings in UAE

This year, Saudi Arabia licensed three digital banks and 19 fintech companies to provide microfinance, digital insurance and payment services to consumers, BCG said.

There have been regulatory advancements across the GCC, such as the FinTech Hive accelerator at the Dubai International Financial Center, as well as others in Abu Dhabi and Manama in Bahrain, the consultancy said.

“While traditional banks will maintain a strong position in the near term, particularly in terms of corporate banking and retail mortgages, neobanks will gain market share in specific product areas such as payments, loans , buy-now, pay-later, cards and digital wallets, and remittances, targeting specific customer groups such as young tech-savvy people, expatriate populations and women,” the report states. .

Updated: October 29, 2022, 04:00

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More and more students are dropping out of college for money worries https://notizie-informatiche.com/more-and-more-students-are-dropping-out-of-college-for-money-worries/ Wed, 26 Oct 2022 21:12:07 +0000 https://notizie-informatiche.com/more-and-more-students-are-dropping-out-of-college-for-money-worries/ Students at Hugh School in Long Beach, California, in March 2021. – © AFP Money SHARMA With students now well into their academic year, new data on students in the UK has revealed that 76% fear making ends meet at university and 4% have even considered going to college. give up because of their money […]]]>

Students at Hugh School in Long Beach, California, in March 2021. – © AFP Money SHARMA

With students now well into their academic year, new data on students in the UK has revealed that 76% fear making ends meet at university and 4% have even considered going to college. give up because of their money worries.

This is based on new data compiled by credit management company Lowell. Analysis of this data explores how students finance their time in college, as well as their attitudes toward money and spending habits that cause long-term problems.

Overall, three-quarters of students (77%) develop personal debt problems while in college.

Research shows that many students rely on credit cards (27%), Buy Now Pay Later programs (15%) and payday loans (9%). These measures are more damaging in the long run, affecting credit scores and putting people in debt on top of their student loans.

There are different results around these forms of indebtedness. Although all forms are expensive, some cost more in the long run than others. In the UK, the average annual percentage rate (APR) on a payday loan (a short-term loan) can be as high as 1,500%, compared to a typical APR of 23% on a credit card. A payday loan is usually a short-term loan for small amounts of money with an extremely high APR. For example, if a student borrows £100 with an APR of 50% and agrees to pay it back in a month, they will owe £150 at the end of the month (an additional £50 on top of the original loan).

With Buy Now Pay Later products, these may seem like a solution for students, but this approach can put students at risk of being charged if they are unable to pay.

A recent Save the Student annual survey also found that 32% of students said they use their overdraft as a source of income. While many student accounts have credit limits that increase year over year and with 0% overdraft, after college, many banks expect students to pay off their overdraft within 1 year. to 3 years, which puts even more pressure on graduates to find employment in a competitive job market.

It is also noted that students rely on the support of their family (42%) and their savings (36%). The different sources are described in the following table:

In addition to any student loans or grants you received, what source of income did/do you rely on during your university studies? Percent Response
Supported by family 42%
Savings 36%
Credit card 27%
Discoveries 25%
disposable income 19%
live at home 17%
Buy now Pay later 15%
Payday loans 9%

When it comes to what triggers debt, student spending habits prioritize weekly grocery stores (56%), rent (52%) and bills (44%). The average amount of debt, excluding tuition fees and student loans, that each graduate completed university with was £2,332, taking an average of 3.8 years to pay off in full.

Additionally, 15% of graduates finished university with over £5,000 in additional loans. Additionally, among all respondents, it took 16% of students four years or more to pay off the personal debt they had accumulated in college.

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The Federal Court deals a blow to the Consumer Financial Protection Bureau https://notizie-informatiche.com/the-federal-court-deals-a-blow-to-the-consumer-financial-protection-bureau/ Mon, 24 Oct 2022 11:36:16 +0000 https://notizie-informatiche.com/the-federal-court-deals-a-blow-to-the-consumer-financial-protection-bureau/ A federal appeals court has just ruled that a powerful financial services watchdog group’s funding scheme is unconstitutional, dealing a blow to the agency. Additionally, the agency’s 2017 banking regulations on lenders offering low-value loans (i.e. payday loans) are out. Supporters of the watchdog group will make the decision an open door for lenders to […]]]>

A federal appeals court has just ruled that a powerful financial services watchdog group’s funding scheme is unconstitutional, dealing a blow to the agency. Additionally, the agency’s 2017 banking regulations on lenders offering low-value loans (i.e. payday loans) are out.

Supporters of the watchdog group will make the decision an open door for lenders to prey on consumers. We don’t buy it. As with other major issues, Congress is too willing to cede its authority to unelected and unaccountable bureaucrats. Turning a blind eye as agencies enforce damaging regulations does nothing to benefit consumers.

What happened

Imagine Congress creating a federal agency with immense power to wield against Americans, but limited by little oversight or accountability.

The Consumer Financial Protection Bureau (CFPB) is the epitome of such an agency. Designed by Democratic Senator Elizabeth Warren to be a highly independent financial services watchdog, the CFPB was created during the Obama era as part of Dodd-Frank. Democrats separated CFPB funding from the Congressional appropriations process by handing the purse strings to the Federal Reserve.

The left may have thought this was a smart way to funnel unlimited funds to this agency to tackle the lending industry without Congress getting too involved. But that’s exactly what a federal appeals court has ruled against Congress’ own constitutional responsibilities.

A three-member U.S. 5th Circuit Court of Appeals in New Orleans has ruled that the CFPB’s independent funding program violates the separation of powers principles of the U.S. Constitution.

In his opinion, the Court explained that the CFPB differs from a “large majority” of executive agencies in its mode of financing. First, the Federal Reserve writes a check to the CFPB for anything the agency director requests. Second, the Federal Reserve’s source of funding is outside of the appropriation process.

Thus, Congress did not simply cede direct control of the Bureau’s budget by isolating it from annual appropriations or other time-limited appropriations. He also ceded indirect control by providing that the Bureau’s self-determined funding comes from a source that is itself outside the appropriations process – a double insulation of the Congressional purse strings that is “unprecedented” in the world. entire government.

Moreover, this agency has sweeping powers that make Congress’ lack of control over its funding all the more striking:

It acts as a mini-legislature, prosecutor, and court, tasked with creating substantive rules for a wide range of industries, prosecuting violations, and imposing knee-deep penalties against individuals. … An expansive executive agency insulated (no, double-insulated) from the purse strings of Congress, expressly exempt from budget review, and headed by a single director removable at the whim of the president is the epitome of unifying the stock exchange and of the sword in the executive – an abomination, the authors warned, “would destroy that division of powers on which political liberty is founded.

As such, the court held that the CFPB was “an innovation with no roots in history or tradition”.

Additionally, the court struck down the CFPB’s payday loan rule finding that the agency effectively had no legal way to enforce it without using unconstitutional funding.

What does that mean

The invalidation of the payday loan rule is a good result. As we wrotethe CFPB tried to crack down on the lending industry by implementing this rule that would deny women, un/underbanked, and low-income Americans access to credit when they need it.

The big picture is that the CFPB has been brought to its knees. This decision will likely be appealed to the Supreme Court. However, this decision deeply reduces the power of the agency.

No wonder Senator Warren threw a fit. She lambasted the decision, engaged in fearmongering about the consequences of the decision, and then vilified the court as a group of “right-wing” extremists.

The editorial board of the the wall street journal Explain implications of this decision:

The CFPB decision continues the trend of originalist judges who attempt to restore the correct understanding of the separation of powers of the Constitution. This means reining in the administrative state and requiring Congress to reassert its powers by writing specific laws and funding the government.

By creating the CFPB, Congress abdicated its duty and created an agency that has too much irresponsible power. The Fifth Circuit has done its duty to name the CFPB as the illegitimate child of Congress.

We couldn’t agree more.

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FTC seeks public comment on so-called ‘junk fees’ https://notizie-informatiche.com/ftc-seeks-public-comment-on-so-called-junk-fees/ Fri, 21 Oct 2022 17:17:50 +0000 https://notizie-informatiche.com/ftc-seeks-public-comment-on-so-called-junk-fees/ On October 20, the Federal Trade Commission (FTC) Posted an advance notice of proposed rulemaking, seeking public comment on the harms resulting from what it describes as “undesirable fees”, that’s to say, allegedly unnecessary, unavoidable or unexpected charges that inflate costs while adding little value. The term also encompasses “hidden charges”, which are charges for […]]]>

On October 20, the Federal Trade Commission (FTC) Posted an advance notice of proposed rulemaking, seeking public comment on the harms resulting from what it describes as “undesirable fees”, that’s to say, allegedly unnecessary, unavoidable or unexpected charges that inflate costs while adding little value. The term also encompasses “hidden charges”, which are charges for goods or services that are misleading or unfair, including because they are disclosed only at the last stage of the consumer’s purchase process or not everything. Although the FTC has been active in taking enforcement action against alleged “junk fees,” it generally does not have the authority to seek sanctions against first-time offenders or the ability to obtain a financial compensation for consumers in cases where “junk fees” violate the FTC. prohibition of unfair or deceptive practices. This new rule would change that.

According to the FTC, these so-called “junk fees” are prevalent in a variety of industries: “Junk fees manifest themselves in markets ranging from auto financing to international calling cards and payday loans. Examples of fees the FTC is questioning include “mobile cramming” fees, connection and maintenance fees on prepaid phone cards, account fees, fees that decrease the amount a borrower receives from loan, miscellaneous fuel card charges, car dealership fees, undisclosed fees for funeral services, hotel “resort” fees, hidden fees for academic publications, poorly disclosed auxiliary insurance and membership programs.

According to the FTC, the fees it plans to regulate fall into the following categories:

  • Unnecessary charges for worthless, free or counterfeit products or services.
    • Consumers may be subject to fees for products or services that cost businesses nothing, are available free of charge, or should be included in the purchase price.
  • Unavoidable charges imposed on captive consumers.
    • Consumers may be forced to pay unwanted charges because they have no way of avoiding or opting out of them, either because they are dealing with a monopolistic company or because they have already invested money in the product or service and can’t easily walk away.
  • Surprise fees that secretly drive up the purchase price.
    • According to the FTC, this happens when companies unexpectedly prey on undisclosed fees, hide fees in the fine print, add fees at the end of a purchase process, or use digital dark models or other deceptions to perceive them.

The FTC invites comment on, among other things, the prevalence of each of the above practices and the costs and benefits of a rule that would require the initial inclusion of all mandatory charges whenever consumers are offered a price for a good or service. Once the notice is published in the Federal Registerconsumers can submit their comments electronically.

This proposed rule isn’t the only new rule the FTC is considering attacking fees. As we discussed here, in June 2022, the FTC issued a proposed motor vehicle dealer business regulation rule. The proposed rule would create a host of new compliance challenges for motor vehicle dealers, including a new national standard for advertising prices, disclosure triggers for payments, additional paperwork for selling add-on products, prohibition of “no benefit” additions on products and additional record keeping requirements. The deadline for comments expired on September 12.

The FTC and other regulators have also challenged the charges through enforcement action, and this notice follows the FTC’s announcement of charges against a car dealership for discriminating against certain groups of car buyers in the way he imposed additional charges in the automobile. vehicle sales. We are discussing this settlement here.

FTC Chair Lina Khan explained the reasoning for the proposed new rule in her statement“These types of additional or redundant charges can mislead consumers or prevent them from knowing the true cost of a purchase until they have already invested significant time and energy.” Chairman Khan also claimed that the “unwanted fees” also had negative ramifications for other business owners. “These fees don’t just hurt consumers, they can also force honest businesses to compete on an unfair playing field. A company selling a widget for $25 could lose sales to a company selling a comparable widget for $20, plus a six-dollar widget certification fee added at the end.

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Amada Senior Care partners with ZayZoon, providing access to earned wages for support workers https://notizie-informatiche.com/amada-senior-care-partners-with-zayzoon-providing-access-to-earned-wages-for-support-workers/ Wed, 19 Oct 2022 02:00:53 +0000 https://notizie-informatiche.com/amada-senior-care-partners-with-zayzoon-providing-access-to-earned-wages-for-support-workers/ Amada Senior Care employees now have access to financial health with ZayZoon PHOENIX, Oct. 18, 2022 (GLOBE NEWSWIRE) — ZayZoon, the earned wage access provider for small and medium-sized businesses, today announced a partnership with Amada Senior Care, a company focused on enriching lives by providing caring and compassionate senior home care for guarantee their […]]]>

Amada Senior Care employees now have access to financial health with ZayZoon

PHOENIX, Oct. 18, 2022 (GLOBE NEWSWIRE) — ZayZoon, the earned wage access provider for small and medium-sized businesses, today announced a partnership with Amada Senior Care, a company focused on enriching lives by providing caring and compassionate senior home care for guarantee their staff the financial flexibility they deserve. With more than 120 locations, thousands of Amada employees provide home care and assisted living services to seniors in 37 states.

Thirty-one Amada locations have already activated ZayZoon and more than 750 employees have signed up for instant access to their pay as they earn it, without having to wait for their regular paycheck. In addition to ZayZoon’s on-demand salaries, Amada staff also have access to free financial education and retailer rewards, which can save customers hundreds of dollars on everyday purchases.

“We wanted to provide our employees with a benefit that is accessible to all and desired by most. ZayZoon is a fully standalone solution that has proven impact in improving retention, which made it easy to decide to offer this benefit to our staff, said Rick Basch, COO of Amada Senior Care Franchise.

ZayZoon makes its products available to all employees, whether hourly or salaried. In a world where there are a lot of ticked off benefits that don’t offer much benefit, it’s common for a company to have over 30% of its workforce using ZayZoon on a regular basis. In a survey, 89% of customers said ZayZoon helped them reduce financial stress.

About Amada Senior Care
Amada Senior Care, formerly Amada Home Care, was founded in 2007 by college friends Tafa Jefferson and Chad Fotheringham. Today, Amada Senior Care has more than 120 locations across the United States and is committed to enriching lives by providing caring, compassionate home care for seniors and guiding families through the many housing options. for seniors available for assisted living. Healthcare professionals and families turn to Amada to help them navigate the complexities of the senior care system.

About ZayZoon

ZayZoon is on a mission to improve employee health through the use of responsible financial products. Unfortunately, millions of Americans rely on predatory products like payday loans and overdraft fees to bridge the paycheck gap created by predetermined payroll cycles. With their products including on-demand salaries, financial education, and retail rewards, ZayZoon helps break this cycle. ZayZoon’s on-demand access to salaries helps reduce financial stress and improve job satisfaction and productivity.

Contact information:
Shannon Dougall
Senior Vice President, Marketing
[email protected]

This content was published via the newswire.com press release distribution service.

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