Cash sales – Vivenavalmoral http://vivenavalmoral.com/ Tue, 22 Nov 2022 19:45:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://vivenavalmoral.com/wp-content/uploads/2021/10/icon-12-120x120.png Cash sales – Vivenavalmoral http://vivenavalmoral.com/ 32 32 How to Get a $500 Fixed Loan No Interest at Wells Fargo https://vivenavalmoral.com/2022/11/18/how-to-get-a-500-fixed-loan-no-interest-at-wells-fargo/ Fri, 18 Nov 2022 10:45:00 +0000 https://vivenavalmoral.com/2022/11/18/how-to-get-a-500-fixed-loan-no-interest-at-wells-fargo/ Wells Fargo has announced a new low-value, short-term loan for customers. Loans of $250 to $500 could help low-income customers avoid riskier ways to get short-term cash, one group says. DEVIN YALKIN NYT Wells Fargo has launched a new type of loan that offers customers short-term cash for a flat fee, adding to a slowly […]]]>

Wells Fargo has announced a new low-value, short-term loan for customers.  Loans of $250 to $500 could help low-income customers avoid riskier ways to get short-term cash, one group says.

Wells Fargo has announced a new low-value, short-term loan for customers. Loans of $250 to $500 could help low-income customers avoid riskier ways to get short-term cash, one group says.

NYT

Wells Fargo has launched a new type of loan that offers customers short-term cash for a flat fee, adding to a slowly growing list of cheaper, less risky financing options for customers short on cash. ‘silver.

The bank announced the new product, dubbed “Flex Loan,” on Wednesday. It’s a $250 or $500 digital loan that customers can apply for on their smartphones and comes with a flat rate of $12 or $20, respectively. Borrowers repay their amount in four monthly installments, without interest.

It is already available in select markets and will launch in all states within the next four to six weeks, bank spokesman Josh Dunn told the Charlotte Observer on Thursday. Flexible loans are only available to Wells Fargo customers – the bank uses factors such as account management practices, term and balances to determine eligibility, rather than using an independent credit bureau.

The loan is meant to be a quick and easy way for customers to directly access funds when they need it most, the bank said in a press release, with no demands, hidden fees, late fees or interest.

The Flex loan is similar to other small, short-term loans offered by US Bank or Charlotte-based Bank of America, sometimes marketed as a cheaper alternative to overdraft fees.

These loans also work as a good alternative to riskier methods of obtaining short-term cash, said Alex Horowitz, chief researcher at The Pew Charitable Trusts. He followed the ways these types of small loans can help low-income bank customers avoid turn to more harmful optionslike payday lenders who charge three-digit interest rates.

“Consumers have turned to (options like) payday lenders because they haven’t been able to borrow small amounts from their bank,” Horowitz said. “But (these loans) are faster, they cost at least 15 times less and they are more affordable. It is therefore a victory for consumers.

CLT_BuildingMugs1_4.JPG
Wells Fargo, one of Charlotte’s largest banks, isn’t the only bank offering small, short-term loans to its customers. Bank of America and US Bank have similar programs. Arthur H. Trickett-Wile atrickett-wile@charlotteobserver

An alternative to the personal loan

Horowitz is primarily interested in how small dollar loans like Wells Fargo’s new product contrast with payday loanswhich are short-term, high-interest loans that many consumers take out in hopes of paying it off with their next paycheck.

But those two-week loans often create more problems than they solve, Horowitz said. Exorbitant interest rates – some as high as 400% – can leave borrowers in debt for months.

“We know that when payday loan customers are in trouble, they don’t focus on price or affordability. They focus on speed, ease of access and certainty of approval,” he said.

Compared to these types of loans, Wells Fargo’s low-cost offering costs about 15 times less, he added.

The payday loan is banned in North Carolina, and about half of the states, but there are still a number of other risky, high-interest financing options, Horowitz said. Small dollar loans from big banks could help low-income customers avoid pawnshops or take out other small loans at five times the interest rate.

“All states have pawnbrokers. All states have rent-to-own stores,” he said. “Some customers have repeatedly overdrawn their checking account in order to borrow small amounts of money. These new loans are a more affordable option than that.

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Wells Fargo is based in San Francisco but has its largest employment base in Charlotte, with some 27,000 workers here. Alex Slitz alslitz@charlotteobserver.com

Other banks offering small loans

Wells isn’t the only local bank to offer a small, low-cost loan.

In 2020, Bank of America launched a similar product called “Balance Aid”. It allows customers to borrow up to $500 for a fixed amount of $5, paid in three monthly installments.

Other banks offering small-dollar loan programs include Ohio-based Huntington Bank and Minneapolis-based US Bank, which has a handful of branches in Charlotte.

Loans are relatively low-risk products for banks, Horowitz said. “The bank lends to known customers,” he said. “There is a track record here. Even customers with poor credit scores succeed in repaying when they can do so in affordable installments at fair prices. »

Plus, the small size of the loans means they’re still a small liability for banks — compared to something like a mortgage, Horowitz noted, which is nearly 100,000 times larger.

He’s also confident that customers will use these types of loans: When Pew surveyed current payday loan borrowers, eight in 10 said they would switch to using small loans at their bank.

Reminder on overdraft fees

Bank of America and Wells Fargo have also marketed the loans as a friendlier alternative to overdraft fees.

Bank of America, Wells Fargo and other banks began offering more options to low-income customers after their practice of charging overdraft fees increased criticism from lawmakersespecially during the pandemic.

Critics argued that the fees boosted banks’ profits at the expense of customers who could least afford them. In response, several banks abandoned Expenses, reduced them or offered options such as no-overdraft checking accounts or small loans.

Horowitz hopes to see other banks offer similar products. The more banks that offer small, short-term loans, the more likely their customers will be to avoid the worst, he said.

“It can help them avoid other bad options: disconnecting their utilities or having their car repossessed or being evicted,” Horowitz said. “If a small, affordable loan from a bank can help someone avoid these adverse outcomes, that’s a win for consumers too.”

Charlotte Observer Related Stories

Hannah Lang covers banking, finance and economic equity for The Charlotte Observer. His work has appeared in The Wall Street Journal, Triangle Business Journal and Greensboro News & Record. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same town as her alma mater.

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Studies show that gains against child hunger were lost after the Child Tax Credit ended https://vivenavalmoral.com/2022/11/16/studies-show-that-gains-against-child-hunger-were-lost-after-the-child-tax-credit-ended/ Wed, 16 Nov 2022 16:57:01 +0000 https://vivenavalmoral.com/2022/11/16/studies-show-that-gains-against-child-hunger-were-lost-after-the-child-tax-credit-ended/ × REISSUE CONDITIONS You may republish this article online or in print under our Creative Commons license. You may not edit or shorten the text, you must attribute the article to The Pulse, and you must include the author’s name in your repost. If you have any questions, please email [email protected] Licence Creative Commons attribution […]]]>

REISSUE CONDITIONS

You may republish this article online or in print under our Creative Commons license. You may not edit or shorten the text, you must attribute the article to The Pulse, and you must include the author’s name in your repost.

If you have any questions, please email [email protected]

Licence

Creative Commons attribution

Studies show that gains against child hunger were lost after the Child Tax Credit ended

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What is a payday loan and other types of predatory loans? https://vivenavalmoral.com/2022/11/03/what-is-a-payday-loan-and-other-types-of-predatory-loans/ Thu, 03 Nov 2022 09:01:17 +0000 https://vivenavalmoral.com/2022/11/03/what-is-a-payday-loan-and-other-types-of-predatory-loans/ Financial watchdog groups have raised concerns about predatory lenders taking advantage of low-income Americans who need cash fast as soaring inflation squeezes consumers. So what is predatory lending? Predatory lending imposes unfair or abusive loan terms on borrowers, including triple-digit interest rates and tight repayment terms. In the meantime, a “fair” loan guarantees the the […]]]>

Financial watchdog groups have raised concerns about predatory lenders taking advantage of low-income Americans who need cash fast as soaring inflation squeezes consumers.

So what is predatory lending?

Predatory lending imposes unfair or abusive loan terms on borrowers, including triple-digit interest rates and tight repayment terms. In the meantime, a “fair” loan guarantees the the same lending opportunities for all consumers, including low-cost loans for those with good credit ratings, in accordance with federal guidelines.

A predatory lender may also persuade a borrower to accept abusive terms through deceptive, coercive, exploitative or unscrupulous actions, according to Orlando-based debt.org, an online site that provides expert financial advice. An example is lenders targeting borrowers with credit problems or who have recently lost their jobs.

Predatory lending practices may also include fraudulent, deceptive and unfair tactics lenders use to ‘trick’ consumers into loans they cannot afford, according to the U.S. Attorney’s Office for Eastern Pennsylvania, citing mortgage costs high as contributing to borrowers who cannot keep their homes in good condition.

A person rides a scooter past a check cashing and payday loan store on March 11, 2022, in downtown Los Angeles.
PATRICK T. FALLON/AFP via Getty Images

Responsible Credit Centera North Carolina-based nonprofit research organization working to end predatory lending, released a study in late September that examined the “persistent damage of high-cost installment loans”, a form of predatory lending that includes “rent-a-bank” loans. The group says it found that predatory lending had a greater impact on people of color and low-income people.

Published

Updated

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Truth Tracker: Kiggans refuses to explain vote on predatory lending bill https://vivenavalmoral.com/2022/10/25/truth-tracker-kiggans-refuses-to-explain-vote-on-predatory-lending-bill/ Tue, 25 Oct 2022 22:03:02 +0000 https://vivenavalmoral.com/2022/10/25/truth-tracker-kiggans-refuses-to-explain-vote-on-predatory-lending-bill/ VIRGINIA BEACH, Va. (WAVY) — Two weeks before Election Day, and early voting is underway, with some communities voting Saturday this weekend. The hot race continues to be in the Second District, and the ads between Democrat Elaine Luria and Republican challenger Jen Kiggans continue to arrive at a rapid pace. The latest survey from […]]]>

VIRGINIA BEACH, Va. (WAVY) — Two weeks before Election Day, and early voting is underway, with some communities voting Saturday this weekend.

The hot race continues to be in the Second District, and the ads between Democrat Elaine Luria and Republican challenger Jen Kiggans continue to arrive at a rapid pace.

The latest survey from Christopher Newport University had the race tied at 45-45. We may not even know the winner on election night.

With $11 million raised, it is the most expensive House of Congress race in Virginia and North Carolina.

Tuesday’s two Truth Tracker ads touched on the economy, predatory lending and a vote that a candidate refuses to explain.

The ad sponsored by the Republican congressional leadership shows a couple outside washing a car.

“Did you know Elaine Luria praised Biden’s economy? She just doesn’t understand. I get hosed down here,” the man says as his face is full of water.

10 On Your Side asked Luria if she’s “housing voters.”

“That couldn’t be further from the truth,” Luria replied.

The ad continues with the words “Lame Elaine Luria. It has contributed to creating the economic mess.

The ad finds support for US bailout lawbut the economy is tested for many reasons, and it is complex.

“The US bailout provided money to local and state governments, got guns blazing, got kids back to school and kept small businesses open,” Luria said. “Payroll Protection Plans have provided loans that have helped tens of thousands of people in small businesses, helping them keep their doors open.”

The ad then states, “Luria is so out of touch she voted to give stimulus checks to felons.”

The Truth Tracker finds this statement leaves a false impression. This is misleading, with the ad suggesting criminals were the intended beneficiaries.

“The stimulus checks have gone to all qualified Americans who fit into the tax bracket,” Luria told 10 On Your Side.

The stimulus checks were not intended for people with criminal records, but it is true that people with criminal records may have received stimulus checks if they qualified.

“Criminals who are in jail might still qualify for a stimulus check,” Luria added. “Every qualified American, based on their tax bracket, received funding. Every family has had challenges during COVID.

Luria says if she loses it’s likely due to a redistricting, which gives her a more Republican district, and it’s a tough time for Democrats to run due to the bad economy and a unpopular president.

Also, it is TRUE that Congresswoman Luria will not be campaigning with President Biden, choosing US Senators Mark Warner and Tim Kaine instead.

“I have nothing planned for him [President Biden] come. This race will be won on what I delivered for the district. It’s my name on the ballot, not Joe Biden’s.

Now to Jen Kiggans. The next ad targets Republican challenger Luria.

“Our family has always been service-oriented and country-first,” says a mother at home with her two children. They are a Navy family.

The ad is sponsored by the political action committee VoteVets.

“Our family has always been about service and putting our country first,” the announcement continued.

VoteVets then criticizes State Senator Jen Kiggans in a vote she cast in April 2020.

“The Kiggans voted against a crackdown on predatory money lenders and their unfair practices that particularly hurt military families.”

It’s true. Kiggans voted against Senate Bill 421 which, among other measures, would cap the annual interest rate for predatory or short-term loans at 36%.

As we did during the five minutes allotted to us to talk to her, Kiggans declined to respond to 10 On Your Side’s inquiry and explain why she voted for Senate Bill 421.

We tried several times to get him to explain his vote.

“But back to Senate Bill 421, why did you vote against the Virginia Fairness and Lending Act, which you did?”

Kiggan’s response was, “this bill isn’t even referenced in the ad.”

It’s TRUE: Senate Bill 421 is not mentioned, but the ad is about predatory lending and Senate Bill 421.

Again we asked, “why did you vote against SB421?”

His response: “I would never vote for anything that I think would be considered hurtful or detrimental to veterans.

Obviously, VotingVeterans thought his vote was prejudicial on this issue, and that’s why they put the ad on the air.

We asked again.

“I need you to answer why you voted, the reasons, against SB 421?”

Kiggan’s response: “I’m saying one in six seafarers can’t pay their bills right now.”

This would lead him to criticize the current economy.

We pointed out to Senator Kiggans that those in favor of SB 421 argued that the bill would help seafarers on fixed incomes with lower interest rates.

The announcement continues. “[It] It turns out that Kiggans took all that money from special interest funded payday loan industry. Jen Kiggans is a fraud.

“So this ad, in particular, calling me a fraud hurts me a lot as a veteran,” Kiggans said.

10 On Your Side asked Kiggans for money from special interests.

“I never took campaign money from these organizations, these payday lenders.”

However, it is true. Campaign finance reports show Kiggans took $20,000 in 2019, and prior to the vote on SB 421 in April 2020, from GOPAC’s Campaign Fund when she was running for the state Senate.

And it is TRUE that at least $100,000 has been contributed to this GOPAC Fund by these payday lenders:

  • Amscot Financial
  • Check Into Cash, Inc.
  • Moving America Forward

But, it is also TRUE that these lenders did not contribute directly to her campaign, and she would only give us five minutes for the interview.

“Senator, again, can you please answer this question? Why did you vote against it? Why did you vote against SB 421?”

His non-response, again: “I wouldn’t do anything to harm our veteran population.”

And then we heard the five-minute timer go off, at which point Senator Kiggans gets up and walks away, dragging the microphone still attached to his robe.

She never answered the question about SB 421.

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Court of Appeal ruling threatens to dismantle Consumer Financial Protection Bureau https://vivenavalmoral.com/2022/10/21/court-of-appeal-ruling-threatens-to-dismantle-consumer-financial-protection-bureau/ Fri, 21 Oct 2022 00:09:59 +0000 https://vivenavalmoral.com/2022/10/21/court-of-appeal-ruling-threatens-to-dismantle-consumer-financial-protection-bureau/ A federal appeals court’s severe blow to the Consumer Financial Protection Bureau is poised to chill the agency’s financial watchdog and possibly jeopardize much of the work it does. has already done. The court rejected one of the agency’s key rules cracking down on payday lenders and questioned the legitimacy of the CFPB, which was […]]]>

A federal appeals court’s severe blow to the Consumer Financial Protection Bureau is poised to chill the agency’s financial watchdog and possibly jeopardize much of the work it does. has already done.

The court rejected one of the agency’s key rules cracking down on payday lenders and questioned the legitimacy of the CFPB, which was the brainchild of far-left champion Senator Elizabeth Warren of Massachusetts.

“The ruling is a big deal in that it would suggest the CFPB cannot take enforcement action unless and until Congress fixes its funding. This is another blow to the CFPB,” said Jonathan Adler, professor of constitutional law at Case Western University.

The 5th United States Circuit Court of Appeals ruled that Congress acted in violation of the Constitution when it delegated its financial authority to an executive agency.

Established in 2011, the CFPB was granted independence in its leadership and source of funding to shield it from political forces and give it the freedom to pursue powerful financial interests. By funding it directly from the Federal Reserve, and not through the congressional appropriations process, it defied the separation of powers, a three-judge panel ruled.

The 39-page ruling struck down the payday loan rule, which came into effect in 2018. It restricted lenders’ ability to make loans to consumers unless they determined they could repay them under certain conditions. The rule also restricted lenders’ account access to repay loans.

The justices held that Congress was appropriating funds through the appropriations clause – but handed over that authority when the CFPB was created, giving the agency unchecked power.

“Congress violated the separation of powers embodied in the appropriations clause,” Trump-appointed Judge Cory T. Wilson wrote for the court.

According to Mr. Petersen, the decision could block the agency’s investigations into possibly illegal activities. He has conducted hundreds of thousands of investigations into abusive debt collection practices, mortgage loan scams and customer complaints against financial banks. It extracted more than $12 billion for 29 million consumers in refunds and canceled debts, according to the agency’s website.

He said people in the CFPB’s crosshairs can now challenge the agency’s investigations under the 5th Circuit’s ruling, arguing that staff, paralegals and even computers used to draft a complaint were paid with a unconstitutional funding.

The cloud of uncertainty would also hang over existing CFBP policies, such as its safe harbor mortgage rule, which protects consumers who take out mortgages they cannot afford. A lender could now challenge the rule, making the same argument that it was created with unconstitutional funds.

“There is going to be a bit of chaos that will follow if this decision is upheld,” Mr Peterson said. “I think there will be a lot of uncertainty and pressure on Congress to do something.”

It is unlikely, however, that Congress will act, at least in the short term. Most lawmakers are campaigning in their constituencies ahead of the Nov. 8 midterm elections.

The CFPB has been the target of conservatives since its creation. Republican lawmakers will likely stay on the sidelines as a possible appeal of the 5th Circuit’s decision winds through the courts. They have long sought to dismantle the CFPB, calling it a “rogue agency” because it is not accountable to Congress.

Critics say the agency has hurt consumers because it has made it harder for middle-class Americans to get mortgages and the enforcement action has prompted banks to raise fees charged to customers.

“As Republicans have always said, the CFPB’s ‘double-insulated’ independent funding mechanism is unconstitutional and makes it totally irresponsible,” said Rep. Patrick McHenry of North Carolina, the top Republican on the Financial Services Committee. . “I am happy to see the 5th Circuit recognize this fact. Bringing the CFPB under the appropriations process would make it more accountable to the American people through its elected representatives.

Senator Dan Sullivan, Republican from Alaska, tweeted that the CFPB was flawed from the start.

“This decision deals yet another blow to an agency that should never have been created and which, at a minimum, must operate under congressional oversight as required by the Constitution,” he wrote.

Democrats warned the decision would hurt consumers.

Sen. Sherrod Brown, an Ohio Democrat who chairs the banking committee, criticized the decision.

“If Wall Street and the payday lenders get what they want, they will gut the only agency charged with protecting consumers,” he said on Twitter. “It’s unprecedented, it’s extremist, and it will make Americans much more vulnerable to financial harm.”

Ms. Warren envisioned the agency when she was a law professor at Harvard University and saw it become a reality under President Obama, who appointed her as a special adviser to the CFPB when it was established in 2010. She won his Senate seat two years later.

She called the appeals court’s decision “anarchic”.

“This is an anarchic and irresponsible decision. @CFPB has returned billions of dollars to Americans doing its job, and its funding is clearly constitutional. Far-right judges question every rule the CFPB enforces to protect consumers and businesses,” Ms. Warren tweeted.

It is unclear what legal remedies remain for the CFPB. He will likely seek a hearing before all of the 5th Circuit judges, known as a panel en banc, but that would include the judges who made the decision on Wednesday.

Taking the case to the Supreme Court would likely mean certain defeat due to the conservative majority in the High Court.

A CFPB spokesperson said the agency “will continue to carry out its vital work enforcing the nation’s laws and protecting American consumers.”

The statement did not say whether the agency would request an appeal.

In 2020, the Supreme Court ruled that the CFPB structure described for the removal of the agency’s director also violated the Constitution because at the time, it did not allow a president to remove the agency’s head without cause. .

This week’s ruling contrasts with other federal appeals courts that have upheld the CFPB arrangement.

These other courts had declared that other federal agencies, such as the Federal Reserve and the Federal Housing Finance Agency, also had budgetary autonomy.

The 5th Circuit said the CFPB is unique with its “double insulated” budget authority from Congress. The regulatory power wielded by the CFPB is far greater than other agencies, Justice Wilson wrote.

“The Bureau’s funding apparatus cannot be reconciled with the appropriations clause and the basis of the clause, the constitutional separation of powers,” the judge said.

The new ruling did not overrule the agency, but overruled the payday loan rule that the CFPB issued in 2017.

This policy was intended to combat what the bureau considered predatory lending practices by payday lenders.

The 5th Circuit said that because this rule may be tied to the CFPB’s unconstitutional funding structure, the rule must be struck down.

The power of the board was vested in a single director who was immune to dismissal by a president, except in cases of actual malfeasance. It was given the autonomy to operate independently of the budgetary powers of Congress.

The Supreme Court has already ruled the sole director structure unconstitutional, concluding that a single director with such regulatory power must be accountable to the president.

The judges had not addressed the issue of the financial insulation of the office.

Stephen Dinan contributed to this report.

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Court records reveal the outgoing county commissioner applied for a job at a county-funded facility https://vivenavalmoral.com/2022/10/20/court-records-reveal-the-outgoing-county-commissioner-applied-for-a-job-at-a-county-funded-facility/ Thu, 20 Oct 2022 21:52:00 +0000 https://vivenavalmoral.com/2022/10/20/court-records-reveal-the-outgoing-county-commissioner-applied-for-a-job-at-a-county-funded-facility/ WILMINGTON, NC (WECT) — Julia Olson-Boseman, chairwoman of the New Hanover County Board of Commissioners, was in court last month. Under oath, she provided several revelations about her drinking habits, her drug and alcohol use, and her attempt to find employment at a facility she championed as commissioner and which the county helps fund. Over […]]]>

WILMINGTON, NC (WECT) — Julia Olson-Boseman, chairwoman of the New Hanover County Board of Commissioners, was in court last month. Under oath, she provided several revelations about her drinking habits, her drug and alcohol use, and her attempt to find employment at a facility she championed as commissioner and which the county helps fund.

Over the past 18 months, allegations against New Hanover County Commission Chairwoman Julia Olson-Boseman have continued to pile up. From an investigation by the North Carolina State Bar into allegedly mishandling client funds — to the alleged $50 million offer to a local nonprofit — residents and officials of the state have all expressed their concerns.

Now, court testimony reveals a possible conflict of interest: In late September, Olson-Boseman applied for a job at The Healing Place, the county-funded facility she championed as county president. According to Olson-Boseman’s testimony, she was not qualified for the position of director of the facility, but was told that The Healing Place would “find a place for her in the organization”.

Olson-Boseman also admitted under oath to using drugs and alcohol daily from the beginning of this year until July – and spending almost all of the $118,000 she was transferred from a joint bank account while her family was on vacation in Italy.

WHQR and WECT obtained court tapes where Olson-Boseman deals with two different family matters. While these personal matters are generally not covered, allegations of mismanagement of money, admissions of substance abuse, and possible conflict of interest as chairman of the board of commissioners seeking employment at an institution financed by county money are of public interest. interest.

The place of healing

The Healing Place is a new treatment facility that New Hanover County took out $24 million in loans to build. The facility has been the subject of several rounds of controversy over the past four years, including refoulement when the county has applied for a special use permit needed to build it within Wilmington city limits. There was also frustration, including a commissionerwhen Trillium launched bait and switch, replacing Wilmington-based Coastal Horizons with Kentucky-based The Healing Place, and effectively eliminated physician-assisted treatment (MAT) from the establishment’s approach in favor of l directed abstinence.

Through it all, Olson-Boseman was a strong advocate for the establishment – sometimes citing her own experience of drug and alcohol use, and subsequent recovery, as inspiration to support the establishment based on the ‘abstinence.

Although The Healing Place’s funding structure is somewhat complicated, the county plays a major role, including providing support for 50 of the facility’s 200 beds in the county’s annual budget.

Now, according to Olson-Boseman’s sworn testimony on September 28, she has applied and been offered a position at The Healing Place.

“Yes, I interviewed yesterday for a job at The Healing Place…it’s a new 200 bed facility opening, 100 beds for women and 100 beds for men. The position I applied for, facilities manager, is not what they said – I knew I was not for it, but they said they would be happy they would find me a job. place in this organization. she says.

In an email response to an interview request, Olson-Boseman addressed her application, writing, “I’m trying to get on with my life and find a job doing something I’m passionate about. That’s why I ‘ve applied for a job at I haven’t used my status or involvement in any way in this process, but I’m sure your reporting will ensure that I won’t get this job and opportunity anyway .

The Healing Place of Kentucky did not respond to a request for comment on Olson-Boseman’s candidacy. None of Olson-Boseman’s colleagues on the board of commissioners responded to a request for comment on a potential conflict of interest.

Financial matters

Finances have played a major role in the controversies surrounding Olson-Boseman. The allegations of mismanagement of client funds from practicing law until draining a joint bank account of around $118,000 in July – judges are now ordering her to tell them where that money went.

The State Bar successfully received an order from a Wake County judge that Olson-Boseman submit the bank statements linked to his professional account. Now Family Court Judge Elizabeth Keever wants her to provide a record of how she spent the money from the shared account with his wife.

In an attempt to determine what marital assets are at stake in the separation between Olson-Boseman and his wife, Angie Olson-Boseman, Julia Olson-Boseman was also questioned in court during a September 26 hearing on a major salary. which earned him over $800,000. . Olson-Boseman confirmed they were proceeds from her law firm, which she said was closed when she retired in January 2021.

Her attorney, Chris Johnson, asked the court to redact identifying details of the case, which was only identified as a personal injury settlement, but on the stand Olson-Boseman confirmed she had deposited two checks — one for $666,666.66 on Sept. 22, 2021 and one for $161,000 on Oct. 9, 2021 — from cases she described as “connected.” She also said that she has not yet paid taxes on this income.

Olson-Boseman said she spent much of that money on a number of things, including furnishings, repairs and additions, a car, boat, golf cart and other “expenses. personal”.

Olson-Boseman also admitted to taking money from the sale of a boat, a check for $50,000 payable jointly to Olson-Boseman and his wife. Olson-Boseman admitted to depositing the check into his own account without his wife’s signature. When asked if the money was still in his account, Olson-Boseman said it was also spent.

At the September 26 hearing, Olson-Boseman said he had about $700 left, having apparently spent the last of the money in just one month over the summer.

According to court records, attorney Lori Rosbrugh, who represents Angie Olson-Boseman, questioned Julia Olson-Boseman about the levy on her bank accounts. The $118,000 she withdrew from her joint account was transferred to a business account, used to fund her party bus company, Odyssey Party Bus.

“Where is he now?” Rosbrugh asked, referring to money.

“Spent,” Olson-Boseman replied.

“You’ve spent $118,000 since July 25?” Rosbrugh continued.

“More than that, yes,” Olson-Boseman said.

After further follow-up questions regarding the proceeds from the $50,000 boat sale, Rosbrugh asked, “So do you have any money left in any of the [the] accounts that are in your name right now? »

Olson-Boseman replied that he had about $700 left in all those accounts.

“So you went from 118 plus 50 to $168,000,” Rosbrugh asked, “to $700, in a month?”

Olson-Boseman replied “correct”.

At the end of the hearing, Judge Keever ordered an accounting of all funds in all accounts that Olson-Boseman and his wife held in personal or joint accounts from the period between June 1 and August 31. . They had 30 days from September 26. hearing to provide these records.

Relapse

Olson-Boseman went public with her personal substance abuse issues and entered treatment in 2013. However, during a September 28 hearing regarding custody issues, she admitted that she used drugs and oil on a daily basis. alcohol until recently.

A lawyer asked Olson-Boseman if she had used cannabis or drugs containing THC.

“Yes,” Olson-Boseman replied.

“Do you do all these things daily? Is that what you said? asked the lawyer.

“Yes,” she replied again.

“When you use these drugs, would you get to the state where you wouldn’t be able to drive him if you had to,” the attorney asked, referring to his ability to care for his son.

“I have such a high tolerance for drugs that they don’t even really affect me,” Olson-Boseman said.

Olson-Boseman was adamant that she was not drunk with her son, but acknowledged that her daily drug and alcohol use lasted from January until the end of July. She told the court she was now “back in the bedrooms”, meaning a 12-step recovery program.

Again, none of the other four members of the New Hanover County Board of Commissioners responded to requests for comment on concerns about Olson-Boseman’s actions. A New Hanover County spokesperson also declined to comment.

Olson-Boseman declined an interview request to discuss his attempt to seek employment at The Healing Place, his financial troubles, and his drug and alcohol use.

In an email response, she wrote:

I know that because I’m a public figure you all feel you need to investigate the very personal and heartbreaking details of my life, but I feel like I’ve been through enough and it’s time to stop. trying to twist my personal life to sell stories. You don’t have all the facts about the money you’re talking about, but I can’t discuss them because of the current case. I went to treatment in 2013 for addiction and am now back in AA meetings, and I am committed to being sober for my son and making sure I can protect him and be there for him. And I’m trying to move on with my life and find a job doing something I’m passionate about. That’s why I applied for a job at The Healing Place. I have not used my status or my involvement in this process in any way, but I am sure that your reporting will ensure that I will not get this job and this opportunity anyway. Have I made mistakes in my personal life? Yes. I think we all have. But mine are just on display for everyone’s entertainment, it seems. My role as Commissioner has never been compromised, as the media has made it seem, and my commitment to making a difference and helping people has never wavered. But you don’t report all the good things I’ve done, because that doesn’t sell stories.

]]> North Carolina Payday Loans 2022 https://vivenavalmoral.com/2022/10/14/north-carolina-payday-loans-2022/ Fri, 14 Oct 2022 13:39:31 +0000 https://vivenavalmoral.com/2022/10/14/north-carolina-payday-loans-2022/ As the cost of living continues to rise, more and more people find themselves in a situation where they need to take out a payday loan online. If you are one of them, you are not alone. In North Carolina alone, nearly 700,000 people use payday loans each year. That said, it’s important to understand […]]]>

As the cost of living continues to rise, more and more people find themselves in a situation where they need to take out a payday loan online. If you are one of them, you are not alone. In North Carolina alone, nearly 700,000 people use payday loans each year. That said, it’s important to understand the realities of payday loans before taking out one. In this blog post, we will cover everything you need to know about payday loans in nc in 2022. We’ll discuss the fees, risks, and alternatives so you can make an informed decision about whether or not an online payday loan is right for you.

The History of Payday Loans in North Carolina

Payday loans first appeared in North Carolina in the early 1990s. At that time, only a few companies offered them. By the mid-2000s, there were over 500 payday loan stores in the state. Today, there are still hundreds of online payday loan stores in North Carolina.

Online payday loans are short-term, high-interest loans that are usually due on the borrower’s next payday. The loans are easy to obtain and do not require a credit check. But they come at a high price: interest rates of 300% or more.

Due to the high cost of these loans, many borrowers end up taking out new loans to pay off old ones. This can create a dangerous cycle of debt that is difficult to break free from.

If you’re considering taking out a payday loan online, make sure you understand all the risks involved before you sign on the dotted line.

How to Get an Online Payday Loan in North Carolina

If you need an online payday loan in North Carolina, there are a few things you need to know. First, you will need to find a lender that operates in North Carolina. There are many online lenders that offer payday loans to North Carolina residents, so finding one shouldn’t be difficult.

Once you have found a lender, you will need to complete an application. The app will ask you for basic information about yourself and your financial situation. Be sure to answer all questions honestly, as this will affect the amount of money you can borrow and the terms of your loan.

Once your application is approved, you will usually receive the money within 24 hours. Be sure to use the money wisely, as you will be responsible for paying it back with interest when your next paycheck arrives.

Conclusion

In conclusion, online payday loans in North Carolina will continue to be an option for those who need cash fast. However, it is important to remember that these loans should only be used as a last resort and repaid as soon as possible to avoid further debt. If you are considering taking out a payday loan online, make sure you understand all of the terms and conditions before doing so.

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Social Security benefits will make a historic jump of 8.7% in 2023 https://vivenavalmoral.com/2022/10/13/social-security-benefits-will-make-a-historic-jump-of-8-7-in-2023/ Thu, 13 Oct 2022 16:02:22 +0000 https://vivenavalmoral.com/2022/10/13/social-security-benefits-will-make-a-historic-jump-of-8-7-in-2023/ Between inflation and rising fuel prices, it’s no secret that your dollar isn’t going as far as it used to. Today, the Social Security Administration released a figure illustrating how much consumer purchasing power has shrunk – and how it happened in record fashion. The SSA announced that its annual cost of living adjustment, or […]]]>

Between inflation and rising fuel prices, it’s no secret that your dollar isn’t going as far as it used to. Today, the Social Security Administration released a figure illustrating how much consumer purchasing power has shrunk – and how it happened in record fashion.

The SSA announced that its annual cost of living adjustment, or COLA, is 8.7%. This is the biggest increase in the cost of living in more than 40 years. For most Social Security recipients, that adjustment translates to an average of $140 or more per month starting in January, according to an SSA news release.

Health insurance premiums go down and Social Security benefits increase in 2023, which will give older people more peace of mind and respite,” Kilolo Kijakazi, Acting Commissioner of Social Security Administration, said in the press release.

What are COLAs and CPIs?

The Social Security Administration uses annual COLAs to increase, if necessary, monthly payments to its recipients to bring them into line with the actual costs of goods and services. Additionally, the administration has used COLAs since the 1970s to ensure Social Security and Supplemental Security Income payments keep pace. inflation.

To understand COLAs, it helps to know another acronym: CPI. The Overall Consumer Price Index is calculated monthly by the US Bureau of Labor Statistics and measures the average change in prices that consumers pay for goods and services such as food, fuel and medical care.

The Social Security Administration bases each cost-of-living adjustment on a specific index under the aegis of the CPI – the Consumer Price Index for urban wage and office workers. Simply put, the index shows how prices may have risen, and the COLA helps consumers offset those higher prices.

The BLS released the latest CPI report this morning ahead of the SSA announcement. The CPI report shows an 8.2% increase in the cost of consumer goods in the 12 months to September 2022.

Past COLA numbers compared to today

The last COLA, announced in December 2021, was 5.9%. The COLA announced today is 8.7%.

Since the SSA began issuing COLAs in 1975, the highest adjustments occurred in 1980 (14.3%) and 1981 (11.2%). Since then, adjustments have remained in the single digits.

One of the other highest COLAs was in 2008, during the Great Recession. The COLA that year was 5.8%.

How to cope with the rising cost of living

Whether or not you’re on Social Security, the latest COLA increase illustrates how strongly inflation affects purchasing power. Although there is no easy solution to inflation, there are steps you can take to keep as much money as possible in your pocket.

For example, prefer repay debts with high interest rates, such as payday loans.

And make sure you’re aware of your spending, says Travis Tracy, certified financial planner and founder of Fortitude Financial Planning in Durham, NC.

“It all comes down to cash flow,” Tracy says. “That’s what I work on with my clients: to sit down and see where everything goes.”

Review your bank statements to see past spending or download a budget app that automatically track your expenses.

If fuel is a major expense, consider using a gas app to find the cheapest fuel in your area. Tracy also recommends bundling weekly errands into one or two days to reduce fuel expenses.

If you have to decide which bills to cover, be sure to pay as little as possible for the services you need. Pick up the phone and call the companies behind the bills you pay, and politely ask to have your bills reduced, suspended, or deferred.

You can also call 211 or visit 211.org for assistance related to housing, food, health care and other essential services.

See more silver news

NerdWallet reporters bring you the latest financial news and what it means to you.

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BBB warns consumers about payday loans and fraud in new study https://vivenavalmoral.com/2022/09/29/bbb-warns-consumers-about-payday-loans-and-fraud-in-new-study/ Thu, 29 Sep 2022 00:47:24 +0000 https://vivenavalmoral.com/2022/09/29/bbb-warns-consumers-about-payday-loans-and-fraud-in-new-study/ RALEIGH, NC (September 28, 2022) – As consumers lost their jobs and struggled to make ends meet during the COVID-19 pandemic, many have turned to payday loans and other solutions to short term, with an increase in online solutions. The Better Business Bureau of Eastern North Carolina (BBB) ​​would like to warn you that this […]]]>

RALEIGH, NC (September 28, 2022) – As consumers lost their jobs and struggled to make ends meet during the COVID-19 pandemic, many have turned to payday loans and other solutions to short term, with an increase in online solutions.

The Better Business Bureau of Eastern North Carolina (BBB) ​​would like to warn you that this has not only allowed predatory lenders to thrive – many borrowers still face exorbitant interest rates and opaque fees – but has also created a fertile environment for scammers, according to a new in-depth investigation study by BBB.

Payday loan laws are managed from state to state among the 32 states in which they are available, and a complex web of regulations makes the impact of the industry in the United States and Canada difficult to understand. follow. The BBB study, however, finds a common thread in the triple-digit interest rates that many of these loans carry – camouflaged by interest compounded weekly or monthly, rather than annually, as well as significant rollover fees.

From 2019 to July 2022, BBB received nearly 3,000 customer complaints about payday loan companies, with a disputed dollar amount of nearly $3 million. In addition, over 117,000 complaints have been filed against debt collection companies at BBB. Complainants often said they felt ill-informed about the terms of their loans. Many fall into what consumer advocates call a “debt trap” of racking up interest and fees that can force customers to pay double the amount originally borrowed. A St. Louis, Missouri woman recently told BBB that over the course of her $300 loan, she paid over $1,200 and still owed an additional $1,500.

The scammers haven’t missed an opportunity to take advantage of consumers either, with BBB Scam Tracker receiving over 7,000 reports of loan and debt collection scams representing around $4.1 million in losses.

Posing as payday loan companies and debt collectors, scammers use stolen information to trick consumers into handing over banking information and cash. In one case, BBB discovered that hackers had stolen and released detailed personal and financial data for more than 200,000 consumers. The news indicate that it is not a isolated incident.

This month, a Durham resident said he was contacted by a scammer who claimed to have been approved for a $4,000 loan. The scammer told the victim that he would receive deposits in increments and return them immediately to “boost” his credit rating in order to later receive the loan. Instead, the victim lost $451 along with his banking information. Earlier this year, another North Carolina victim said she lost $15,000 to a scam artist.

Regulators at the federal level have pursued tougher laws to curb predatory lending, but those regulations have been rolled back in recent years, leaving states to set their own rules on interest rate caps and other aspects of mortgage lending. salary. More than a dozen states introduced legislation last year to regulate payday loans, but the landscape of legally operating payday lenders remains inconsistent across states.

Currently, payday loans are not allowed in 18 states, according to Pew Charitable Trust. In addition, the Military Loans Act sets a rate of 36% on certain payday loans. When it comes to fraudulent behavior, law enforcement is limited in what they can do to prosecute payday loan scams. Some legal payday lenders have attempted to prevent scams by educating consumers about the ways in which they will or will not contact borrowers.

The BBB study advises consumers to thoroughly research all of their borrowing options — as well as the terms of a payday loan — before signing anything for a short-term loan.

The study also includes recommendations for regulators:

  • Cap consumer loans at 36%
  • Educate more people about no-cost extended repayment plans
  • Require lenders to test whether consumers can repay their loans
  • Require Zelle, Venmo, and other payment services to offer refunds for fraud

Where to report a payday loan scam or file a complaint:

For more reliable information, visit BBB.org.

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Payday Loans Market Outlook 2022 Analysis By Major Key Players | Creditstar, loan flow https://vivenavalmoral.com/2022/09/26/payday-loans-market-outlook-2022-analysis-by-major-key-players-creditstar-loan-flow/ Mon, 26 Sep 2022 11:23:00 +0000 https://vivenavalmoral.com/2022/09/26/payday-loans-market-outlook-2022-analysis-by-major-key-players-creditstar-loan-flow/ Loan market OREGAON, PORTLAND, USA, September 26, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research titled “payday loan market By type (storefront payday loans and online payday loans), marital status (married, single, and others), and customer age (under 21, 21-30, 31-40, 41-50 and Over 50s): Global Opportunities Analysis and Industry Forecast, […]]]>

Loan market

OREGAON, PORTLAND, USA, September 26, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research titled “payday loan market By type (storefront payday loans and online payday loans), marital status (married, single, and others), and customer age (under 21, 21-30, 31-40, 41-50 and Over 50s): Global Opportunities Analysis and Industry Forecast, 2021-2030 »

𝑫𝒆𝒒𝒖𝒆𝒔𝒕 𝑭𝒐𝒓 𝑷𝑫𝑭 ➡ https://www.alliedmarketresearch.com/request-sample/10377

The report will help leaders:
• Understand the dynamics of the market as a whole
• Inspect and review the competitive scenario and future market landscape with the help of different restraints including Porter’s five forces
• Understand the impact of different government regulations throughout the global health crisis and assess the state of the payday loan market during these challenging times
• Consider the portfolios of functional protruding players in the market in conjunction with the in-depth study of their products/services
• Have a compact idea of ​​the most revenue-generating segment

Key segmentation
• By type
o Storefront Payday Loans
o Online payday loans

• By marital status
o Married
Single
o Others

• By customer age
o Under 21
o 21 to 30
o 31 to 40
o 41 to 50
o More than 50

Market Dynamics-
The dynamics of the Payday Loans Market report provides extensive information about the factors that have a negative and positive impact on the market. Additionally, this section offsets segments such as major investment pockets, positioning of key players, market drivers, restraining factors, challenges, and opportunities. Additionally, parent/peer marketing forces are also included in the report to understand the impact of internal and external forces on the global payday loans market.

Interested stakeholders can inquire for the purchase of the report @ https://www.alliedmarketresearch.com/purchase-enquiry/10377

Covid-19 scenario:
• Manufacturing facilities in the sector have been temporarily shut down due to the implementation of global lockdown, unavailability of skilled labor, shortage of raw materials and supply chain disruption worldwide. Thus, the pandemic has had a negative impact on the growth of the global payday loans market
• Nevertheless, demand is expected to pick up during the post-lockdown as market players have adopted various rapid response strategies to stabilize the supply chain and ensure abundant raw material availability and seamless distribution.
The market is described to bring significant growth over the forecast period. Additionally, the report presents detailed statistics of drivers, restraints, and opportunities that directly impact the Payday Loans market. Further, the report focuses on assessing the market scope of four major regions including Asia-Pacific, Europe, North America, and LAMEA. In short, the market report is exclusively intended to assist readers with a comprehensive assessment of industry analysis and trends.

Regional analysis
Major Countries Covered in the Global Payday Loans Market include:-
• North America:- United States, Canada and Mexico
• Europe:- France, Spain, Italy, Russia, UK, Netherlands, Germany and rest of Europe
• Asia-Pacific: India, Japan, China, Australia, Singapore, South Korea and rest of Asia-Pacific
• LAMEA: Latin America, Africa and Middle East

Research Methodology
The Global Payday Loans Market research operations include significant primary and secondary research. Where the primary methodology encompasses a generalized discussion with a plethora of valued participants, the secondary research involves a substantial amount of product/service descriptions. Additionally, several government sites, industry bulletins, and press releases have also been properly reviewed to provide valuable industry insights.

This information also helps market players to take strategic decisions to stay competitive in the market, all along. Additionally, the report also provides key market players who rule the market. The report provides the SWOT analysis of key market players including Cashfloat, CashNetUSA, Creditstar, Lending Stream, Myjar, Silver Cloud Financial, Inc., Speedy Cash, THL Direct, Titlemax and TMG Loan Processing which gives the view of company-wide, financial analysis and product and service portfolio analysis.

Request customization with detailed analysis of the impact of COVID-19 in the report @ https://www.alliedmarketresearch.com/request-for-customization/10377?reqfor=covid

Key takeaways from the report
• An explanatory portrait of the global personal loan market coupled with current drifts and future estimates to facilitate investment pockets
• Major revenue generating segment with regional trends and opportunities
• Qualitative assessment of market drivers, challenges, opportunities and trends
• Govern development procedures and trends
• Company portfolios with their investment plans and financial specifics
• Assessment of recent policies and developments and their impact on the payday loan market

About Us:
Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

David Correa
Allied Analytics LLP
800-792-5285
write to us here
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