Payday loans – Payday Loans Online UZZ http://paydayloansonlineuzz.com/ Mon, 21 Nov 2022 15:30:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://paydayloansonlineuzz.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Payday loans – Payday Loans Online UZZ http://paydayloansonlineuzz.com/ 32 32 In South Dakota and Nebraska Deep Red, voters used ballot initiatives to reduce inequality https://paydayloansonlineuzz.com/in-south-dakota-and-nebraska-deep-red-voters-used-ballot-initiatives-to-reduce-inequality/ Mon, 21 Nov 2022 05:54:53 +0000 https://paydayloansonlineuzz.com/in-south-dakota-and-nebraska-deep-red-voters-used-ballot-initiatives-to-reduce-inequality/

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

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

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

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

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

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

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

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

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

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

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

Nebraskans see the issue differently.

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

]]>
76% of millennials are ready for super apps https://paydayloansonlineuzz.com/76-of-millennials-are-ready-for-super-apps/ Sat, 19 Nov 2022 01:27:26 +0000 https://paydayloansonlineuzz.com/76-of-millennials-are-ready-for-super-apps/

The apps were a hit right from the start, namely the typical phone screen is cluttered with dozens of them. This is a big reason why having a single app that would combine banking, payments, identity and more into one super app would be a big hit.

In the “Super Apps for the Super Connected” study, a collaboration between PYMNTS and PayPal, we surveyed over 9,000 consumers in the US, UK, Australia and Germany about their appetite for a super app . Extrapolating the results, the study suggested that 96 million users would be keen to get their hands on it, hoping to enjoy more of the experience of the super app which is already widely loved in the Asia-Pacific regions. (APAC) and Latin America.

What also emerges from the data are generational differences. While not entirely unexpected, they are still significant in terms of business and payout significance.

Segment respondents into three groups – the “basic technology” group which owns an average of two connected devices, the “consumer technology” group which owns an average of four devices and the “connected technology” group with up to eight devices – guess what? which is to do it in a super style of application?

The study says that 76% of millennials “shopped online in the 30 days before the study — 65% of baby boomers and seniors did the same. Additionally, 70% of millennials in four countries have used connected devices to order food in a restaurant, surpassing the 60% of Gen Z consumers who have done so. »

Additionally, we found that “a quarter of all consumers indicated great interest, but 40% of millennials said they were ‘very’ or ‘extremely’ interested in a great app. Only 35% of millennial consumers X and 25% of Gen Z consumers reported the same level of interest.”

How consumers pay online with stored credentials
Convenience drives some consumers to store their payment credentials with merchants, while security concerns give other customers pause. For “How We Pay Digitally: Stored Credentials Edition,” a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 US consumers to analyze the consumer dilemma and reveal how merchants can overcome holdouts.

]]>
Studies show that gains against child hunger were lost after the Child Tax Credit ended https://paydayloansonlineuzz.com/studies-show-that-gains-against-child-hunger-were-lost-after-the-child-tax-credit-ended/ Wed, 16 Nov 2022 17:52:49 +0000 https://paydayloansonlineuzz.com/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

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

]]>
Ballot initiatives allow the people to avoid right-wing politicians in this election, so the right wants to abolish them https://paydayloansonlineuzz.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://paydayloansonlineuzz.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 as part of what they called it a “Love Your Neighbor Tour”.

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 in more than 30 states committed to this form of direct democracy. These voters enshrined abortion rights in states like Michigan, funded universal kindergarten 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 a stunning victory against financial predators, winning 76% support for an election measure to impose a 36% cap on loan interest rates. on salary. Previously, those rates averaged around 600% in South Dakota, trapping many low-income families in a downward spiral of debt.

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

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

Nebraskans see the issue differently.

Voters there approved an increase in the state minimum wage to the same level Biden has proposed — $15 an hour — by 2026. The measure, which was accepted with 58% support, will mean 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 the Ballot Initiative Strategy Center, the number of such bills increased by 500% between 2017 and 2021. Dozens more were introduced in 2022, including efforts to raise the threshold to pass a ballot measure in the beyond a simple majority vote.

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

]]> OMNIS Wins Halloween Business Idea Pitch Contest https://paydayloansonlineuzz.com/omnis-wins-halloween-business-idea-pitch-contest/ Thu, 03 Nov 2022 19:26:03 +0000 https://paydayloansonlineuzz.com/omnis-wins-halloween-business-idea-pitch-contest/

Body of the review

The fourth annual Halloween pitch competition, hosted by the New Venture Accelerator and the Harbert College of Business, saw 19 teams compete for $5,000 in seed funding, in front of a panel of professional industry judges at the interior of the Broadway Event Space and Theatre.

When the scores were tallied, OMNIS came out on top 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. Last year’s winner, Room2Room Movers, founded by recent Harbert graduate Brooks Fuller, is currently enjoying significant market success.

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

  • Sherina Hill, business coach for entrepreneurs

  • Tim Denison, President, GDI LLC

  • Ebony Ruffin, Ruffin Consulting Services

  • Larkin Jones, Alabama Small Business Development Center

  • Ralph Runge, RSquare Consulting, Inc.

  • Jason Wilson, Back Forty Beer

  • Ken Evola, PwC Managing Director, PwC

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 UP: 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 register for Tiger Cage, click here or contact Lou Bifano, Director of the New Venture Accelerator at loubifano@auburn.edu for more information.

]]>
5 Tech Trends Helping Unbanked People Access Financial Services https://paydayloansonlineuzz.com/5-tech-trends-helping-unbanked-people-access-financial-services/ Mon, 31 Oct 2022 19:54:17 +0000 https://paydayloansonlineuzz.com/5-tech-trends-helping-unbanked-people-access-financial-services/

Mobile banking is booming. Online payment services are all the rage.

These are two of the findings of the Federal Deposit Insurance Corp’s 2021 National Survey. on unbanked and underbanked households, a biennial survey investigation which measures the means and degrees to which Americans access safe and affordable banking services. The agency partnered with the US Census Bureau to collect responses from more than 30,000 households in the United States in June 2021.

This year’s survey had a number of takeaways with implications for banking technology, including the prevalence of mobile banking as the primary form of account access, usage patterns of online payment services and technologies that have potentially helped more people obtain banking services or find alternatives. to predatory services. Even though the national unbanked rate has fallen, there are persistent problems with access to banking services among minorities – an issue that has technological implications that are not discussed in detail in the report.

“We’ve had nearly a decade of large-scale digitization of financial services and mass adoption of smartphones,” said Sarah Morgenstern, venture capital partner at Flourish, a venture capital firm that invests in startups. focused on financial health. “This has helped reduce costs and increase access to financial products at fair prices, especially for low- and middle-income consumers.”

]]>
Video: Rep. Elaine Luria Holds Press Conference on Jen Kiggans Vote Against Military and Military Families https://paydayloansonlineuzz.com/video-rep-elaine-luria-holds-press-conference-on-jen-kiggans-vote-against-military-and-military-families/ Fri, 28 Oct 2022 16:44:54 +0000 https://paydayloansonlineuzz.com/video-rep-elaine-luria-holds-press-conference-on-jen-kiggans-vote-against-military-and-military-families/

ICYMI: Congresswoman Luria Holds Press Conference on Jen Kiggans Vote Against Military and Military Families

VIRGINIA BEACH, Virginia – Today, Elaine Luria (VA-02), former small business owner and 20-year Navy veteran congresswoman, held a press conference with local leaders and veterans after he It was revealed that Jen Kiggans took money from the predatory payday loan industry and then voted against a bipartisan bill that would crack down on exploitative industry practices that harm active duty personnel and workers. military families.

The press conference took place outside the Republican National Committee for Veterans Affairs Community Center in Virginia Beach, which was closed at the time. Click here for the press conference livestream. Additional videos and photos are available here.

“Jen Kiggans took tens of thousands of dollars from a Republican PAC with substantial financial backing from the payday loan industry before voting against a bipartisan bill that would crack down on payday lenders who exploit our active duty personnel. , our veterans and our military families,” said MP Luria. “Whether it’s supporting a nationwide ban on abortion, refusing to say Joe Biden won a free and fair election, or taking money from a shady political organization and then voting against protecting of our military families, Jen Kiggans has proven time and time again that she cannot be trusted. She will say and do anything to get elected, including voting against the men and women who risk their lives for serve our country.

Kiggans voted against Senate Bill 421, the bipartisan Virginia Fairness in Lending Act, which caps operating interest on payday loans and expands access to credit.

After being asked by WAVY 10 about her vote, Kiggans abruptly left the interview with the station’s microphone still attached. Campaign finance reports show Kiggans received $20,000 in contributions from a Republican PAC funded by the payday loan industry before she voted against the legislation as a state senator.

“There is nothing I value more as a legislator than fighting for our veterans,” said Virginia House Democratic Leader Don Scott. “Jen Kiggans needs to explain why she took $20,000 from our military and their families and then ran when asked about it.”

]]>
Senator Warren will promote student debt forgiveness during his visit to Western Mass. https://paydayloansonlineuzz.com/senator-warren-will-promote-student-debt-forgiveness-during-his-visit-to-western-mass/ Mon, 24 Oct 2022 18:15:00 +0000 https://paydayloansonlineuzz.com/senator-warren-will-promote-student-debt-forgiveness-during-his-visit-to-western-mass/

Democratic U.S. Senator Elizabeth Warren will be in western Massachusetts on Tuesday with Congresswoman Ayanna Pressley to talk about canceling student debt. The two are touring the state with additional stops in Boston, Brockton, Worcester and Springfield to encourage those eligible for President Joe Biden’s pardon program to sign up.

Announced in August, the plan forgives $10,000 of student loan debt for individuals — and an additional $10,000 for Pell Grant recipients. The US Department of Education estimates the program will cost the government $30 billion a year over the next decade. Americans currently collectively owe about $1.75 trillion in student loan debt. While a lawsuit from six Republican-controlled states stalled the plan in federal appeals court, the Biden administration has said it still intends to overturn it. Warren told WAMC why she was heading to Springfield Technical Community College on Tuesday afternoon.

WARREN: It’s really exciting. You know that President Biden has forgiven the student loan debt of approximately 43 million Americans. And that’s about 850,000 people in the Commonwealth of Massachusetts who will have some or all of their debt forgiven. So Congresswoman Pressley and I are going out to Springfield Technical Community College on Tuesday. We’ll be there at 4:45 just to rally people to make sure everyone who is eligible signs up to get their debt forgiven, and to encourage people to come out and spread the word. You know, tell your sister, tell your mother, tell your cousin, tell your neighbor, because I want to make sure everyone in the Commonwealth who is eligible for this liberation actually gets it.

WAMC: So what’s at stake here? What are people missing out on if they don’t take advantage of this program?

Well, if someone was a Pell beneficiary when they were in two-year college, four-year college, technical school, they are entitled to up to $20,000 in loan debt student canceled, disappeared, erased from the books. If they weren’t eligible for Pell, they have the right to reverse about $10,000, off the books. Now this only applies to people with incomes below $125,000. And I’m just going to be blunt here – Most people who have this debt and are going to get relief have a household income below about $75,000. But it’s an easy, easy form to go online to check it out. It’s under studentaid.gov, and it’s a very simple form and you can tell right away if you qualify for a cancellation. Fill out the form, it takes a few minutes. And here’s the best part – The cancellation is going to happen in a few weeks, and that means – I want you to think about it from a personal perspective. That means people who’ve been under that weight, that means people who couldn’t think of moving out of mom’s basement, or buying a car, couldn’t think of buying a house, for some haven’t been able to start a small business, or haven’t been able to start a family, that they can get rid of that debt and really build a more secure economic future.

Let’s talk brass thumbtacks. When you talk about the impact of student debt on American society, on the Commonwealth, what are the big numbers that are relevant here? What does this mean materially for the people of Massachusetts?

Well, what that mainly means for the people of Massachusetts, for the 850,000 who will be eligible for debt cancellation here, is that they can just stabilize themselves financially. Now, as you know, there has been no student loan repayment so far for this, it’s been two and a half years during the pandemic. But those payments are set to begin in January. And on average, they cost around $400 per month. So being able to erase or reduce your student loan debt will have a big impact month-over-month for people in the future. And that’s going to be a really big deal.

Now this legislation is just the start of an effort to address a problem that will certainly continue long after this, the impact of this is being felt. And certainly, you had your own bigger ambitions for bigger versions of this same program. What comes next for Democrats to build on this and continue to reduce student loan debt in America?

Excellent question. So let me give you the second part, because we’re also going to do that on Tuesday, and that’s the Civil Service Loan Forgiveness Program. So you might remember for anyone… Think who is in the public service. Public school teachers, firefighters, police officers, people who work for the city or county or for the state or federal government, nurses who work in nonprofit hospitals. All, under current law, were entitled to take out public service debt forgiveness. And after 10 years of payments, they get the remaining debt erased. Well, it turns out the loan officers were really bad at it, and they put people in the wrong programs, they sent them off to the wrong places that gave them the wrong information. And so a lot of people who could have gotten help didn’t. By October 31st, by Halloween, people who are in the civil service are entitled to get what is called a waiver to participate in the new civil service loan forgiveness program and have all their previous payments count towards their 10 years, and when they reach that 10-year mark, clear the remaining debt. So that’s going to help a lot of our teachers, firefighters and nurses. This is the next step. But we have more than that! Want to hear about it?

I certainly would.

Okay, from there we have to continue to reduce, obviously, student loan debt. But we also need to take a closer look at how to prevent this debt from building up again in the future. And that means we need to make college more affordable. And to do that will take a combination of our state and federal governments to provide enough support to our public colleges and universities so that no one has to shoulder crippling debt to get a technical certificate, or to to obtain a two-year degree, or to obtain a four-year degree. For me, it’s about how we think about building a future, and we’re building a future by making investments, roads and bridges. We are building a future by investing in broadband. We are building a future by investing in the education of our people and helping people prepare for a 21st century economy. As a nation, I believe we need to make these investments so that everyone who wants to get that education can get it without being burdened with student debt. That’s what’s left in the future, and that’s part of what’s on the ballot in November. So that’s what the Democrats are fighting for, and that’s why I’m fighting alongside them

I wanted to hear your opinion on the Fifth Circuit Court of Appeals ruling on the Consumer Financial Protection Bureau regarding the unconstitutionality of the funding structure. What do you think about this? I know you’ve already fought backbut I kind of want to cut to the bone here- What’s going on with the desktop?

Well, first they got the law wrong. And second, it’s really reckless. So let’s do the first. The Consumer Financial Protection Bureau is funded similarly to the Federal Reserve, which, by the way, is not the only banking regulator that is not funded by appropriations. The Office of the Comptroller of the Currency, which is the primary banking supervisory board, and the FDIC, you know, which provides this great insurance to make sure the money will be there, you know, if you have money in a current account, all are financed outside loans. And that means the Senate doesn’t vote or Congress doesn’t vote on them every year, and that’s been the case since 1863, when the first federal banking regulator was put in place. And you know, the reason was pretty obvious. And it was that basically, as one nation said, it’s not a good idea for politicians to have financial control over these banking regulatory agencies, because they’ll be under too much political pressure. That’s how it was set up from the start. There is nothing abnormal about the CFPB. But that’s part of what makes this decision so reckless. When the Fifth Circuit says, no, I’m fair, they’re just declaring the whole agency unconstitutional, they’re actually trying, I think, to try to say that all the regulations that the agency has put in place to protect people on residential mortgages and credit cards and payday loans – are they saying it just goes away? And are they saying that, at least in the Fifth Circuit, they don’t recognize the Federal Reserve Bank? They don’t recognize the banking supervisors from the Office of the Comptroller of the Currency? They don’t recognize FDIC insurance? This is just one of those opinions you just have to shake your head about how these guys are doing politics instead of doing their job and applying the law as it is written.

]]>
FTC seeks public comment on so-called ‘junk fees’ | Troutman pepper https://paydayloansonlineuzz.com/ftc-seeks-public-comment-on-so-called-junk-fees-troutman-pepper/ Fri, 21 Oct 2022 18:33:34 +0000 https://paydayloansonlineuzz.com/ftc-seeks-public-comment-on-so-called-junk-fees-troutman-pepper/

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.

Troutman Pepper will continue to monitor important developments involving the FTC and the proposed rules, and we will provide further updates as they become available.

]]>
What is a personal finance app? https://paydayloansonlineuzz.com/what-is-a-personal-finance-app/ Sun, 16 Oct 2022 02:06:03 +0000 https://paydayloansonlineuzz.com/what-is-a-personal-finance-app/

Managing your finances is a tedious task that only a few people do.

It takes a lot of time and effort to maintain, on your own, with all the things you need to pay attention to. Balancing a checkbook, tracking expenses, and keeping track of your bank balance, on your own, can be a daunting task. Fortunately, there are personal finance apps that can help you manage your finances and do all the work for you!

Nick Wilson, CEO of AdvanceSOS and experienced loan officer, shares his thoughts on personal finance apps and how they can help you. A few words about the AdvanceSOS loan service. Its quick and easy app helps people in an emergency to reach the huge network of approved lenders to get same day deposit payday loans at AdvanceSOS without credit check in Texas, California, Ohio and Florida .

Nick Wilson also shares some of the best personal finance apps that you can use depending on your needs. These apps were chosen based on their features, functionality, and purpose.

What is a personal finance app?

A personal finance app is an app that you can download to your smartphone or tablet. It offers convenient real-time tracking of your expenses, savings, and investments. It can track your credit payments and notify you of recent changes in your credit score. You can also connect it to your bank so you know where your money is being spent.

Personal finance apps provide convenience and an easy way to track your finances. Personal finance apps have different features, but generally they have a shared wallet, bill reminders, automatic bill payment, and subscription management.

How much does a personal finance app cost?

Personal finance apps usually have a free version and a paid version. A free version would have fewer features compared to the paid version and might also contain advertisements. The paid version differs in price but is relatively inexpensive, costing only $25 per year or less. Other apps only have a free version!

So if you need help managing your finances, but don’t want to spend a lot of money, personal finance apps can help you without breaking your budget.

What types of personal finance apps are offered?

For debt repayment

You need a budget, also known as YNAP, is one of the best personal finance apps for debt repayment. The app works according to YNAB’s four rules: give every dollar a job, accept true spending, roll with the punches, and age your money. The app is committed to helping you budget better and control your spending. It allows you to import transactions from checking accounts and apply them to each budget category. This will help you get an accurate picture of your spending and maintain a balanced budget by adjusting budget categories if you over or under budget.

Each month, you’ll receive a detailed report of your spending and help you identify areas where you can improve your spending. According to YNAB, an average new user saves $600 in the first two months and moves $6,000 in one year. The app offers a free version for the first 34 days of use.

For wealth management

Personal capital allows you to manage your assets and investments in addition to your expense accounts. Along with tracking your expenses, the app also tracks and improves your investments. The app allows you to track your investment by account, asset class and individual security. The mobile and tablet version of the app has an intelligence system that uncovers opportunities for diversification, risk management and uncovers hidden fees.

Personal capital also allows you to compare your portfolio to major market benchmarks to determine if you are meeting your investment goals. It also provides financial advisors who can help you achieve your goals.

For bill payment

Prism works with over 11,000 billers, including banks and small utility companies, making it the best personal finance app for managing your bills. It also allows you to list all your invoices and financial accounts in one place.

Add your invoices to the app and Prism will automatically track them for you and send you due dates and reminders to help you avoid late payments. You can also use the app itself to pay your bills. You can schedule same-day payments or schedule them in advance for your convenience.

For shared expenses

Spent is a personal finance app that you can also use for shared payments and expenses. It allows you to create a shared wallet with your friends or family to manage a shared expense or budget.

Just import your bank transactions into the app, and Spendee will categorize them for you, or you can also add cash expenses manually to be more specific. Creating a budgeted amount for expenses in each category will prevent you from going over budget. The app will also track your progress towards your budgeted amount. The app also has a bill tracker that sends reminders to pay your bills to avoid penalties and additional charges. If you are going on a trip or to an event, you can create a category for that event and Spendee will track your expenses to stay within your budget.

For budgeting

Every personal finance app can be used for budgeting, but the best is the Every dollar application. The app uses a zero-based budgeting method recommended by personal finance expert Dave Ramsey. Zero-based budgeting gives every dollar a purpose, hence its name.

The app has a built-in monthly expense tracker that you’ll connect to your bank to import transactions and track your expenses. The tracker shows what you’ve spent so far and how much you have left to spend. The app gives you access to financial management experts to help you with your financial planning. Accessing your budget can be done using your mobile app or desktop. All users get a free trial of the premium version of the app which you can upgrade at any time through the app menu.

About the Author

Amanda Girard is a lead writer for AdvanceSOS. His expertise and input are valuable assets to our website and other channels. She has been a tremendous help since our founding in 2019, producing pieces that are not only engaging but also informative and entertaining. She remains an influential figure in the company and among its customers.

Nick Wilson, CEO of AdvanceSOS and experienced loan officer, shares his thoughts on personal finance apps and how they can help you. It also shares some of the best personal finance apps that you can use depending on your needs. These apps were chosen based on their features, functionality, and purpose.

Related Articles


VIDEO


“We re-imagine, recreate and redeem cultural omissions and misrepresentations of blackness, for culture….” This post is made in Partnership with British pathe.

]]>