interest rates – War History 1944 http://warhistory1944.co.uk/ Sun, 17 Apr 2022 23:31:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://warhistory1944.co.uk/wp-content/uploads/2021/10/icon-35-120x120.png interest rates – War History 1944 http://warhistory1944.co.uk/ 32 32 Earnipay raises $4 million to fund instant access to pay https://warhistory1944.co.uk/earnipay-raises-4-million-to-fund-instant-access-to-pay/ Mon, 14 Mar 2022 11:42:14 +0000 https://warhistory1944.co.uk/earnipay-raises-4-million-to-fund-instant-access-to-pay/ Earnipay raises $4 million to fund instant access to pay By Jeph Ajobaju, Editor-in-Chief Fintech solutions startup Earnipay has received $4 million in a funding round to provide flexible, on-demand access to logged-in workers on its app, reducing payroll system hassles for employers and employees. The funding round was led by Canaan with participation from […]]]>

Earnipay raises $4 million to fund instant access to pay

By Jeph Ajobaju, Editor-in-Chief

Fintech solutions startup Earnipay has received $4 million in a funding round to provide flexible, on-demand access to logged-in workers on its app, reducing payroll system hassles for employers and employees.

The funding round was led by Canaan with participation from XYZ Ventures, Village Global, Musha Ventures, Platform Ventures, Voltron Capital and Paystack.

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Earnipay, launched in January, says it will use the money to improve the financial well-being of workers by partnering with employers and integrating with their payroll systems to allow employees to track and withdraw their pay. through the app.

Instant access to salary

Earnipay CEO, Nonso Onwuzulike explained that fintech helps solve problems related to financial worries, which are usually the cause of workplace distractions due to salary payment structure in most organizations. .

“The monthly pay cycle means employees are often unable to pay day-to-day expenses, cover emergencies or take advantage of immediate financial opportunities.

“As a result, they are exposed to predatory payday loans and get stuck in endless cycles of debt with unrealistic repayment periods and high interest rates,” he said.

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Ethical alternative

“Earnipay exists to solve this problem and provide an ethical alternative to instant access to pay while helping employers improve employee engagement and retention at no cost to their business,” Onwuzulike said, according to Nairametry.

“The future of pay is on-demand, and we are thrilled to be pioneering this incredible solution in Africa.

“I am delighted to partner with a group of highly respected investors who understand the need for a platform such as Earnipay to improve access to wages and, above all, to improve the financial well-being of people who earn an income. in Africa. ”

Onwuzulike pointed out that the startup works with employers to improve employee engagement and productivity.

“We are systematically tackling inefficiencies in the way Africa’s workforce interacts with wages and will continue to create products and services with both employers and employees in mind.”

Brendan Dickinson, Partner at Canaan, added: “We have seen access to earned wages growing rapidly in many markets and we believe it is a natural fit in Africa.

“Earnipay has quickly taken hold with a product designed specifically for payroll behaviors in this region, and early adoption by employers is very strong.

“Nonso have built one of the strongest teams we have come across across the continent, and we are delighted to have the opportunity to partner with them.”

Background

Onwuzulike founded Earnipay to target a financial wellness fintech solution that integrates employers’ payroll and human resources (HRM) systems to enable employees with on-demand funding to instantly access their wages earned without interest.

Earnipay says its flexible payroll access helps organizations improve employee engagement and productivity by relieving financial stress caused by eliminating the need for a payday advance or predatory payday loans with interest.

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Leveraging Technology to Improve Financial Inclusion in the United States https://warhistory1944.co.uk/leveraging-technology-to-improve-financial-inclusion-in-the-united-states/ Wed, 09 Mar 2022 21:00:00 +0000 https://warhistory1944.co.uk/leveraging-technology-to-improve-financial-inclusion-in-the-united-states/ By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation The benefits of financial inclusion are known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying, and spending money end up spending a significantly higher percentage of their income on cash-intensive financial options. These options, like money orders […]]]>

By Ismail Amla, Executive Vice President, Professional Services, NCR Corporation

The benefits of financial inclusion are known and numerous. Households that lack access to bank accounts or relatively affordable mechanisms for receiving, paying, and spending money end up spending a significantly higher percentage of their income on cash-intensive financial options. These options, like money orders and payday loans, tend to have much higher fees and usurious interest rates. Households suffering from financial exclusion are disproportionately poor and less educated. The highest percentages of these excluded households are found in the least affluent countries. But even in the United States, according to the latest FDIC surveys, 5.4% of households were unbanked. This group represents 7.1 million households. The exclusion of people from the financial system also hinders economic growth; money that could have been spent on goods, services, and education is instead trapped in the cash economy or used to pay punitive fees and interest.

I believe the world is at a signing moment. Just as economic growth has dramatically reduced poverty rates around the world, ubiquitous, cheap, and connected technology can dramatically reduce rates of financial exclusion. It is now up to companies like NCR and the entire fintech ecosystem to work collectively to make this happen. Together, we believe we can dramatically reduce financial exclusion over the next five years in the developed world and over the next decade in the developing world.

Promoting greater access to technology, greater openness of the financial system, and a stronger and fairer market for financial products will enable us to achieve this goal. Combined, these three force factors are already at the origin of a rapid fintech revolution. This revolution is both a moral imperative to improve lives and a one-of-a-kind business opportunity that will benefit society by increasing overall economic growth.

Although the digital divide still exists, advances in technology and cost reduction are rapidly bridging this divide. According to Our World in Data, 640,000 new people come online every day. Smartphones and access to cheap or free data are the essential instrument of progress. Today, low-end smartphones cost less than $100, and forward-thinking carriers, such as India’s Jio, are offering low-cost wireless data plans. While smartphone data plans vary widely from country to country and are often expensive, Wi-Fi access is much cheaper and often free. If these trends continue, the number of people without Internet access will continue to decline.

A whole generation of new banks, such as Chime and Monzo, have built businesses entirely based on mobile phone apps. In China, for example, where digital payments are now the dominant form of exchange, the phone has become the main gateway to financial services. In developed countries, fewer people are using cash and employers are rapidly moving away from paper check payments. COVID has further accelerated the transition from cash to digital payments.

Traditionally, the unbanked and underbanked use digital financial services at a much lower rate than higher demographic households. But we have clear evidence that digital financial inclusion can work in less developed economies. In Africa, more than 200 million people use mobile electronic payment systems. In Kenya, M-Pesa mobile payment systems are almost universally adopted. With smart product designs, we can change that. The M-Pesa system was designed with local culture and values ​​in mind.

The enormous pressure that emerging fintech is placing on traditional banking processes is driving a welcome unbundling of financial services and multi-tiered competition. Venmo, for example, offers to give customers who set up direct deposit instant access to paychecks. Traditionally, banks have taken a day or two to process these deposits. For the poor and financially excluded, two days can mean the difference between paying rent on time and incurring a penalty. Unbanked users who wish to transfer money across borders for relatively small sums, as is often the case with remittances, can now choose from several options, including cryptocurrencies. Zelle, which is managed and owned by a consortium of major US banks, allows users with accounts to instantly transfer money at no cost.

While the winds of tech trends may be at our backs and the rapid rise of fintech may provide the impetus to rethink financial services, there are still a number of concrete steps that the financial services industry should consider. .

  • Remove common obstacles. Minimum fee balances or service charges drive away low-income consumers. In fact, according to the World Bank, the number one reason unbanked people don’t have an account is simply because they don’t have enough money. Clearly, this is something that is doable. CapitalOne, a major US bank, has just announced that it is waiving overdraft fees while continuing to offer overdraft protection.
  • Encourage mobile banking. According to the World Bank, low-income consumers tend to have a mobile connection rather than home Internet access. Designing banking products and mobile financial services that appeal to the unbanked will reduce exclusion. It is also a good universal product design. There’s a very good reason why the dominant financial platform in most parts of the world that are mostly unbanked or only recently banked is the smartphone.
  • Expand access points to advanced digital services. There’s a good reason why convenience stores, supermarkets, and other stores all have ATMs. Indeed, ATMs attract customers and make it easier for them to pay. In the digital economy, these same access points can take on equally important significance for stores as centers for the digital delivery of financial services, which could even be co-branded between banks and stores. Physical real estate combined with smart digital hotspots bring services closer to community members who might not walk to a bank branch on their own – and who otherwise would not have easy access.
  • Choose prepaid products. In 2017, nearly 27% of unbanked U.S. households used prepaid cards according to a FDIC Household Survey. Prepaid credit cards or debit cards can offer a descent path to credit history that can unlock other key doors. These cards are safer than cash or checks and can be used for online purchases.
  • Find new ways to analyze customers and give them access. In the United States, several companies are using artificial intelligence to create alternative and more accurate credit scoring systems. Created by former Google executives, Upstart looks at over 1,000 additional metrics to assess whether someone is likely to repay their loan. Upstart is actually more accurate than older credit scoring products and is particularly good at identifying people who might not get credit through traditional underwriting processes, but are actually very good risks. Similar systems can operate at lower levels of funding and loans, where unbanked people can operate.

To effect these kinds of changes, we will all have to put ourselves in the shoes of those watching from the outside, trying to imagine what it might be like to live a life of financial exclusion. It is now. The technology is there. The opportunity is huge. Let’s make a big dent in financial exclusion, not in our lifetime, but in the next decade – or even sooner.

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Pawnbrokers: pros and cons https://warhistory1944.co.uk/pawnbrokers-pros-and-cons/ Sat, 05 Mar 2022 18:30:57 +0000 https://warhistory1944.co.uk/pawnbrokers-pros-and-cons/ NEW YORK – March 5, 2022 – (Newswire.com) iQuanti: Pawnbrokers allow people to buy and sell all kinds of items, but you can also get quick loans by posting an item as collateral. These loans can be easy to obtain and offer several advantages, but there are a few disadvantages to consider before diving in. […]]]>


NEW YORK – March 5, 2022 – (Newswire.com)

iQuanti: Pawnbrokers allow people to buy and sell all kinds of items, but you can also get quick loans by posting an item as collateral. These loans can be easy to obtain and offer several advantages, but there are a few disadvantages to consider before diving in. Read on to learn how pawnbrokers worktheir pros and cons, and some alternatives to consider.

What are pawnbrokers?

Pawnbrokers are quick loans that require a valuable item that you own as collateral, such as jewelry or artwork. They do not require any credit checks and are quite fast. All you have to do is take your item to the pawnshop to appraise it and get an offer. If you agree, the pawnbroker will give you a ticket that you can use to get your item back after you pay off the loan.

Benefits of Pawnbrokers

Here are some advantages of pawnbroking:

You can get them quickly

Pawnbrokers are some of the fastest loans you can get. The pawnbroker can usually appraise your item and make you an offer the same day.

There is no credit check

Pawnbrokers don’t care about your credit. They only lend against the value of your collateral. So, a pawnbroker could be a good borrowing option if you have little or no credit.

No collection

If you are unable to repay your loan, the pawnbroker will take your item and put it up for sale to recover their funds. They will not send collections after you.

Disadvantages of pawnbrokers

Pawnbrokers also have drawbacks, including:

These are short term loans

Pawnbrokers usually have a term of 30 days. This may not give you enough time to find the funds to repay the loan.

They come with high interest rates and fees

Pawnbrokers can have high interest rates and fees. Depending on the size of the loan, it may be difficult to repay the loan on time.

You could lose your item

If you fail to repay your pledge loan, you will lose your collateral. The pawnbroker will take legal possession of the item and put it up for sale. This can be a pretty big inconvenience if you value the item you’re pawning.

Alternatives to pawnbroking

If you’re not sure if a pawnbroker is right for you, here are some alternatives to consider:

Cash advances

Cash advances are small, short-term loans you can use to cover expenses before your next payday. You will usually get these loans in two to four weeks when you get your next paycheck. These loans often come with instant approvals, same-day financing, and lenient credit score requirements, so you can get approved quickly and don’t need good credit.

Securities lending

Title loans allow you to use the title of your car as collateral if you own the vehicle. The lender will inspect and appraise your car and then offer you a loan worth 25-50% of the car’s value. If you accept the loan offer, you can receive your funds the same day. You can also continue to drive your vehicle while the loan is in progress.

Should I take out a pawnbroker?

Pawnshops have several advantages such as no credit checks, quick approval, and fast funding. But these loans also come with high interest rates and fees, and you can lose your item if you default.

All in all, a pawnbroker can be an option if you have poor credit and have a valuable item that you are willing to risk giving up. But if you don’t want to go that route, you can also consider alternatives like a cash advance or title loan. Be sure to weigh the pros and cons of pawnbroking and consider the alternatives before taking one out.

Notice: The information provided in this article is provided for guidance only. Consult your financial advisor about your financial situation.

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Primary source:

Pawnbrokers: pros and cons

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What is a payday loan? https://warhistory1944.co.uk/what-is-a-payday-loan/ Fri, 25 Feb 2022 22:26:00 +0000 https://warhistory1944.co.uk/what-is-a-payday-loan/ What is a payday loan? payday loans are generally short-term unsecured loans characterized by high interest rates that generally do not require a credit check. Although there is no exact and universal definition of the term, the US Consumer Financial Protection Bureau indicates that this type of loan is usually $500 or less and is […]]]>

payday loans are generally short-term unsecured loans characterized by high interest rates that generally do not require a credit check.

Although there is no exact and universal definition of the term, the US Consumer Financial Protection Bureau indicates that this type of loan is usually $500 or less and is usually due on the borrower’s next payday. States have different laws governing these types of fast loans, but they may be available to Americans through in-store payday lenders or in line, depending on location. The due date on payday loans is generally two to four weeks from the date of issuance, and lenders generally do not consider borrowers’ credit scores or their ability to meet other financial obligations when approving the loan.

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To secure a payday loan, payday lenders often require a personal check from the borrower for the loan amount, plus interest and fees, for a future deposit. They often require direct access to the borrower’s bank account.

Payday lenders hold the personal check until the borrower receives their next paycheck, direct deposit or social Security Payment. Depending on the terms of the loan and the laws of the state in question, some payday lenders offer long-term repayment plans that allow them to make multiple electronic withdrawals from the borrower’s bank account.

The average term for payday loans is about two weeks, and loans typically range between $50 and $1,000. In exchange for quick loans that don’t require a credit check, payday borrowers typically pay exorbitant interest rates and fees on their loans. Payday lenders often charge annual percentage ratesor APR, of 400% or more on their loans, plus finance charges of between $10 and $30 for every $100 borrowed.

The only requirements to qualify for most payday loans are an opening Bank account relatively in good standing, a regular income and a source of identification.

Because little consideration is given to the financial status or creditworthiness of borrowers, the CFPB has found that payday loans have a high default rate of around 20%. Additionally, approximately 80% of payday borrowers renew or re-borrow their loans within 30 days of their initial loan.

Qualified state borrowers can apply for a payday loan online from companies such as MoneyMutual, CashUSA.com, and BillsHappen. Many payday lenders also have thousands of physical stores in the United States.

In times of financial emergency or life or death situation, payday loans may be one of the only places Americans have bad credit can turn to temporary financial assistance. However, due to widespread deception and predatory behavior in the payday loan industry, the CFPB, Federal Trade Commission, and other federal and state regulators have repeatedly warned Americans of the dangers of payday lending. payday and imposed restrictions on the activities of payday lenders.

A 2016 five-year study by Pew Charitable Trusts found that 12 million Americans take out payday loans each year, and those borrowers collectively pay $9 billion a year in loan fees alone.

  • Speed. Payday loans are fast, and lenders often give same-day or next-day approval.
  • Ease of use. It’s usually easy to get approved for a payday loan as long as the applicant has a stable source of income, a bank account in good standing, and proper identification. Borrowers can even get payday loan approval online. While some critics say payday loans are inherently predatory, there are laws in place to protect the rights of borrowers.
  • Availablity. Depending on the situation, payday loans may be one of the only viable sources of emergency cash for borrowers with bad credit.

  • High cost. Payday loans can come with annual interest rates of 400% or more, and finance charges can be 15% to 30% of the loan amount. These high interest rates stand out even more compared to the national average of around 16.17% credit card interest rate or the average interest rate of 4.25% over 30 years mortgage end of February 2022.
  • Debt cycle. Due to interest and fees, a payday loan can easily force the borrower to put off the majority of their next paycheck, creating an opportunity for borrowers to fall into a cycle of repeat loans.
  • Harassment. Payday lenders have a reputation for exploiting financially vulnerable borrowers and using aggressive and harassing collection practices.

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Access to earned wages boosts productivity https://warhistory1944.co.uk/access-to-earned-wages-boosts-productivity/ Wed, 23 Feb 2022 06:00:57 +0000 https://warhistory1944.co.uk/access-to-earned-wages-boosts-productivity/ In a time of pandemic-induced financial and economic hardship, waiting to get paid once a month can be difficult in the face of emergencies, surprise medical bills, and unforeseen expenses. The inability to access earned wages during tough times can also increase the chances of employees resorting to payday loans at high interest rates, further […]]]>

In a time of pandemic-induced financial and economic hardship, waiting to get paid once a month can be difficult in the face of emergencies, surprise medical bills, and unforeseen expenses.

The inability to access earned wages during tough times can also increase the chances of employees resorting to payday loans at high interest rates, further compounding their dire financial situation.

In Spain, salary advance startup Payflow sought to solve this problem for workers by allowing them to access their earned wages “when they want, as many times as they want and receive”. [funds] instantly,” co-founder Avinash Sukhwani told PYMNTS.

“Millions of Spaniards live hand to mouth and only get paid once a month. In an increasingly immediate world, this cannot be a reality,” Sukhwani said, adding that allowing workers instant access to their earned wages several times a month eliminates financial stress, leading to greater productivity for business.

Compared to other companies in the on-demand payment industry, Sukhwani said Payflow, which launched in 2020, sells its product to businesses for a monthly fee with no direct employee charges for the service.

“The workers’ statute recognizes access to wages as a right. It would not be good for the workers to be charged for their rights,” he explained. “They [companies] offer Payflow as a benefit to their employees.

Read more: Barcelona-based Payflow closes $9.1m funding round

And in sectors like hospitality, for example, where companies face major challenges in both recruiting and retaining talent, being able to offer such a free service for staff that improves well-being employee finance is extremely valuable.

“We noticed that our customers [have been able to] hire 27% faster, reduce their turnover by 20% and increase the productivity of their employees by 10% since [using] Payment flow. Happy employees make for happy companies, and our product helps increase employee satisfaction,” he said.

Reach millions of employees

So far, the model has gained popularity among blue-collar workers, who are the most adopted by companies using the platforms.

“In just two years, Payflow has become the regional leader in the earning industry with [more than] 100,000 users and [over] 175 customers, including well-known brands such as Webhelp, Covirán, Aristocrazy and Grosso Napoletano,” Sukhwani said.

The company recently closed a $9.1 million Series A funding round that increased its total funding to nearly $14 million, and with 0% churn and never losing a customer. , Payflow’s point of differentiation is operating in what is proving to be an increasingly competitive space, he noted.

Going forward, the Spanish FinTech plans to grow from a payday advance business to a neobank, growing from more than 100,000 current users to millions of employees in Europe and Latin America.

“In order to achieve this goal, we should significantly expand the user base and launch features that allow employees to do more with their money,” he said, aware of the enormous challenges involved in an ambitious plan. like building a digital bank.

“Many have tried and failed because it is a very complex product to build from all points of view, including financial, operational [and] regulations,” he noted.

But after the success Payflow has enjoyed over the past two years, Sukhwani said the company is not slowing down anytime soon and staying focused on its goals and objectives.

“In 2022, we want to double the workforce and launch two additional products. We plan to continue our international expansion through Latin America and Southern Europe, [starting in Italy and Portugal],” he said.

Register here for daily updates on all of PYMNTS’ Europe, Middle East and Africa (EMEA) coverage.

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NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICE IN THE DIGITAL ENVIRONMENT

On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.

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How does an installment loan process work at Heart Paydays? https://warhistory1944.co.uk/how-does-an-installment-loan-process-work-at-heart-paydays/ Thu, 17 Feb 2022 18:38:35 +0000 https://warhistory1944.co.uk/how-does-an-installment-loan-process-work-at-heart-paydays/ An installment loan allows the borrower to withdraw a certain amount of money over time. The loan is then repaid in installments. Typically, installment loans come with fixed payment amounts – they don’t vary throughout the loan. However, loan interest rates may vary depending on the lender and the terms of the loan. Examples of […]]]>


An installment loan allows the borrower to withdraw a certain amount of money over time. The loan is then repaid in installments. Typically, installment loans come with fixed payment amounts – they don’t vary throughout the loan. However, loan interest rates may vary depending on the lender and the terms of the loan.

Examples of Tribal Installment Loans

Tribal installment loans for bad credit

Bad credit loans are great short-term cash solutions for people facing emergency expenses, but who have a very bad credit history. Lending platforms that offer these services are often not concerned with the borrower’s credit history. Instead, they only focus on whether or not they can repay their loans on time.

Tribal installment loans for bad credit

Credit score plays an important role in determining whether one is qualified for a loan. Borrowers with good credit ratings are often eligible for more loans than those with poor credit ratings, i.e. riskier applicants.

Alternatively, if you have a bad credit score, you can turn to Heart Paydays for a quick tribal installment loan for bad credit. The loan broker will connect you with a perfect loan company to solve your financial emergency needs here.

Tribal installment loans with a co-signer

A co-signer is someone who signs a loan agreement with another person. The co-signer agrees to take on the legal obligation to repay the loan if the applicant does not repay the loan on time. Additionally, the co-signer can help the applicant obtain loans on reasonable terms to reduce the lender’s risk.

Tribal Installment Loans No Teletrack

Teletrack was incorporated into the lending industry in 1989, making it a relative newcomer to the world of business-to-business financial systems. Its main function is to follow the personal credit files of creditors in search of quick information on potential customers.

Teletrack is a modern approach used to check borrower’s credit history. It gives lenders details of all credit records, such as credit card applications or mortgages that an applicant has ever incurred.

A no-teletrack tribal loan, on the other hand, ensures your credit privacy while improving your chances of qualifying for a tribal loan.

Eligibility for Tribal Installment Loans

There are many requirements to be eligible for instant payday loans. Although these requirements are designed to be used as a guide only, they may vary from one payday lender to another. Therefore, borrowers should review each lender’s policies when applying for a payday loan. While some creditors may assess your source of income, most are only concerned with the reliability of your income.

Clients must meet the following requirements to apply with online brokers such as Heartpaydays:

  • Must be at least 18 years old
  • Have an active email
  • Must have a current bank account

Tribal Installment Loan Costs

  • APR: Depending on your state’s lending legislatures and the amount you want to borrow, the APR can vary between 10% and 30% of your loan principal. Typically, they charge $15 per $100.

This equates to an annual percentage rate of almost 400% for a two-week loan. Tribal installment loans are often applied as alternatives to payday loans, where APRs range from 200% to 400%. Heart Paydays Loans offer installment loans with APRs between 5.99% and 35.99%.

  • Late fee: Creditors charge different penalty rates on late repayments depending on state lending laws.

If you are considering applying for a tribal installment loanknow that you will face challenges, especially if you cannot repay the loan immediately. If you find yourself in such a state, you can try various loan options such as loan refinancing or loan discharge in bankruptcy.

Although no law protects defaulting borrowers from prosecution, it is unusual to see borrowers unable to repay their loans end up in jail. Most of the jail sentences are due to these borrowers refusing to appear before the judges or failing to comply with court directives and not due to non-repayment of the loan.

How to apply for an installment loan at Heart Paydays

Step 1: Decide how much you need

Whatever loan you are looking for, estimating the amount you need is perhaps the key concern when deciding on a loan. Applicants are qualified to apply for loans of up to $5,000 from Heart Paydays. Installment loans vary depending on the direct lenders you are matched with from their database.

Step 2: Complete the application

Applicants enjoy a smooth application process when applying for loans online. As an applicant, you need to complete a brief online form and select the loan provider that offers you the best terms. This will instantly initiate the approval process by your potential lender.

Step 3: Wait for feedback

After completing the application, the lender will send you a response confirming whether your application has been accepted or not. This process typically takes less than ten minutes for Heart Paydays loan applicants.

Step 4: Receive your loan

If the direct lenders confirm that you qualify for their loan, they will deposit the money into your bank account. However, if your application is rejected, you will be referred to other lenders who can help you.

Get your installment loan today

The main challenge of opting for a tribal installment loan is that you will have to approach the lenders separately. Another big concern is that direct lenders have the privilege of setting loan terms and application procedures.

Fortunately, your fees can be significantly reduced with loan brokerage sites such as Heart Paydays. Also, they will save you the lengthy application process of direct lenders.

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Voting and payday loan ballots move Michigan forward | Michigan News https://warhistory1944.co.uk/voting-and-payday-loan-ballots-move-michigan-forward-michigan-news/ Fri, 11 Feb 2022 22:40:00 +0000 https://warhistory1944.co.uk/voting-and-payday-loan-ballots-move-michigan-forward-michigan-news/ By DAVID EGGERT, Associated Press DELTA TOWNSHIP, Mich. (AP) — Ballots to expand voting options, restrict payday loans, and overhaul Michigan’s citizens’ initiative process passed the stages ahead of the state board of elections on Friday, allowing organizers to start collecting hundreds of thousands of signatures to qualify for the 2022 ballot. Canvassers have approved […]]]>

By DAVID EGGERT, Associated Press

DELTA TOWNSHIP, Mich. (AP) — Ballots to expand voting options, restrict payday loans, and overhaul Michigan’s citizens’ initiative process passed the stages ahead of the state board of elections on Friday, allowing organizers to start collecting hundreds of thousands of signatures to qualify for the 2022 ballot.

Canvassers have approved summaries to appear above five petitions for public distribution.

Promote the Vote wants to create more than a week of early voting, allow all voters to request an absentee ballot for future elections, and require prepaid postage on return envelopes. His constitutional amendment — proposed months after Republicans launched an anti-veto initiative that they said would improve the integrity of the election but which Democrats say would reduce the vote — would also ban attempts to weigh down “de unreasonably” the right to vote and enshrine the council’s duty to certify the results after Donald Trump’s unprecedented attempt to void the 2020 election.

Michiganders for Fair Lending hopes to reduce the interest rates payday lenders charge that must be repaid within two weeks. The ballot committee, like Promote the Vote, appears to have the financial backing to distribute the petitions widely.

political cartoons

Two proposals for constitutional amendments supported by MI’s voting rights also moved forward. One has similarities with the Promote the Vote measure. The other would allow more time to collect signatures for ballots, allow voter referendums on laws that spend money, and eliminate the Legislature’s ability to pass bills initiated without the governor’s signature. . Instead, the initiatives would go to voters as constitutional revisions already do.

The canvassers also approved the summary of a petition seeking to decriminalize the production and possession of psychedelic mushrooms.

In total, canvassers have approved summaries for a dozen active ballots in 2022 – including those that would raise the minimum wage, limit the duration of emergency pandemic restrictions without legislative approval and enshrine the right to abortion. in the state constitution.

Khalilah Spencer, chairman of the board of Promote the Vote, who successfully spearheaded a 2018 constitutional amendment that expanded absentee voting and allowed same-day registration, said: “We look forward to direct dialogue with Michigan voters about our Common Sense Voting Reform proposals. ”

The proposal would, among other things, keep intact the ability for voters to sign an affidavit if they do not have photo ID and the verification by clerks of absentee voters’ signatures to verify identity.

The Republican-affiliated Secure MI Vote wants to require additional information on mail-in ballot applications — such as the last four digits of a Social Security number or a copy of one’s photo ID — and require voters without a document ID to later verify their identity for their vote. to count. Spokesman Jamie Roe said the Promote the Vote measure “is unnecessary, costly and harmful to election security.”

Follow David Eggert at https://twitter.com/DavidEggert00

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Bridge Payday: Benefits of Instant Cash Loans https://warhistory1944.co.uk/bridge-payday-benefits-of-instant-cash-loans/ Fri, 11 Feb 2022 13:21:49 +0000 https://warhistory1944.co.uk/bridge-payday-benefits-of-instant-cash-loans/ Post views: 612 When you need extra cash, a payday loan can be a great option. These loans are quick and easy to get, and they can get you the money you need fast. But did you know that there are also many other benefits to payday loans? In this blog post, we will discuss […]]]>

Post views: 612

When you need extra cash, a payday loan can be a great option. These loans are quick and easy to get, and they can get you the money you need fast. But did you know that there are also many other benefits to payday loans? In this blog post, we will discuss some of the surprising benefits of instant cash loans.

Advantages of instant cash loan

Payday loans have many advantages that you may not know about. Here we will discuss some of the most surprising. They include:

  • Instant cash loans have a fast approval process

If you are looking for payday loans, you need cash fast. You don’t have time to wait for a bank or other lender to approve your loan. Payday loans have a very fast approval process and you can get the money you need within a day.

Instant payday loans have a very fast approval process. You can get the money you need within a day and the application process is very simple. You can apply for a payday loan online or in person and you will receive your money within 24 hours.

  • Instant cash loans are easy to apply for

Payday loans are very easy to apply for. You can apply online or in person, and the application process is very simple. You will need to provide some basic information about yourself, such as your name and address.

  • Instant cash loans are available in a variety of amounts

Payday loans are available in a variety of amounts. You can get payday loans for as little as $100 or as much as $1,000, depending on your needs.

Payday loans are also available in a variety of terms, from one to three months. This means that you can choose the loan term that best suits your needs. Payday loans also come in a variety of amounts, so you can get payday loans for as little as $100 or as much as $1,000. payday loans are also available in a variety of terms, from one to three months.

This means that you can choose the loan term that best suits your needs. Payday loans also come in a variety of amounts, so you can get payday loans for as little as $100 or as much as $1,000. payday loans are also available in a variety of terms, from one to three months. This means that you can choose the loan term that best suits your needs.

  • Instant cash loans come with low interest rates

Payday loans come with very low interest rates. This means that you won’t have to pay a lot of money in interest charges and you can reduce your costs. Payday loans come with very low interest rates, so you won’t have to pay a lot of money in interest charges.

  • Instant cash loans are a great way to cover unexpected expenses.

Payday loans are a great way to cover unexpected expenses, such as auto repairs or medical bills, and help you avoid late fees and penalties if you’re unable to pay your bills on time. .

Payday loans can help you build your credit history. This is because payday loans are reported to major credit bureaus. So you can improve your credit score by repaying your loan on time. Payday loans can help you build your credit history Payday loans are reported to major credit bureaus, so you can improve your credit score by reporting payday loans.

Bridge Payday’s Usman Konst says, “We can help you get payday loan funds today with our Apply online options. You can use the money for any purpose you choose”.

payday bridge is a direct lender payday loan company and can help you find the payday loan that’s right for you. Visit their website at bridgepayday.com.

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National’s plan to solve the home loan crisis caused by new responsible lending rules https://warhistory1944.co.uk/nationals-plan-to-solve-the-home-loan-crisis-caused-by-new-responsible-lending-rules/ Wed, 09 Feb 2022 07:16:00 +0000 https://warhistory1944.co.uk/nationals-plan-to-solve-the-home-loan-crisis-caused-by-new-responsible-lending-rules/ Kevin Stent / Stuff Nicola Willis is calling on the government to pass legislation to quickly address the unintended consequences of new responsible lending regulations. National has drafted legislation that it says could undo the damage new responsible lending regulations have done to borrowers’ chances of getting a home loan. National Housing spokeswoman Nicola Willis […]]]>
Nicola Willis is calling on the government to pass legislation to quickly address the unintended consequences of new responsible lending regulations.

Kevin Stent / Stuff

Nicola Willis is calling on the government to pass legislation to quickly address the unintended consequences of new responsible lending regulations.

National has drafted legislation that it says could undo the damage new responsible lending regulations have done to borrowers’ chances of getting a home loan.

National Housing spokeswoman Nicola Willis said she had written to Trade and Consumer Affairs Minister David Clark asking him to pass Andrew’s private member’s bill as a matter of urgency. Bayly.

Critics of the new regulations, which came into force on December 1, say they are too prescriptive and mean that some people are no longer eligible for bank mortgages that would have been given to them previously.

Willis said: “Regulations have led banks to intrusively audit the spending histories of potential borrowers and Kiwis have had their loan applications rejected for absurd reasons like buying takeout too often, subscribing to Netflix or go to therapy.”

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She said the regulations were meant to target predatory and high-risk lenders, not force heavily regulated banks to cut their mortgages.

Bayly’s bill would change the regulatory powers of the Credit Agreement and Consumer Finance Act to allow for different regulations for different types of lenders.

This would allow for stricter and more prescriptive responsible lending rules for lower-tier lenders like payday lenders, while leaving banks less regulated.

RYAN ANDERSON

Independent economist Tony Alexander says mortgage lenders’ willingness to lend has declined.

“The government has taken a comprehensive approach that subjects banks to the same set of highly prescriptive and draconian regulations as high-risk payday lenders, although banks are already subject to a comprehensive set of mortgage standards enforced by the Bank. spare,” Willis said.

“There is a categorical difference between regulated financial institutions that issue long-term mortgages at low interest rates and other types of higher-risk, shorter-term loans issued by other lenders at different purposes,” Willis said.

The bill would require the minister to consider their different scale and risk profiles when setting regulations for their lending business.

“We want to work with the government to pass this law. This is an immediate problem with the hopes and financial futures of thousands of Kiwis at stake. We urge the government to properly consider our proposal,” she said.

Bayly’s bill is called the Consumer Credit Agreement and Financing Amendment Bill (Reasonable Investigations by Regulated Financial Institutions).

National's commerce spokesman Andrew Bayly has drafted legislation he says could preserve defenses against predatory lenders, without preventing banks from extending home loans to non-vulnerable borrowers.

ROBERT KITCHIN/Stuff

National’s commerce spokesman Andrew Bayly has drafted legislation he says could preserve defenses against predatory lenders, without preventing banks from extending home loans to non-vulnerable borrowers.

Following face-to-face meetings with Clark last week, the chief executives of ANZ and ASB made public statements about the proportion of home loan applications their banks have had to turn down since December 1, which that they would have previously approved.

ANZ’s Antonia Watson said it was six out of 100 loans, while ASB’s Vittoria Shortt said it was seven out of 100.

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China extends its evil tentacles to India, Nepal and Bangladesh as massive financial fraud comes to light https://warhistory1944.co.uk/china-extends-its-evil-tentacles-to-india-nepal-and-bangladesh-as-massive-financial-fraud-comes-to-light/ Sat, 05 Feb 2022 02:42:35 +0000 https://warhistory1944.co.uk/china-extends-its-evil-tentacles-to-india-nepal-and-bangladesh-as-massive-financial-fraud-comes-to-light/ OPED By Vaishali Basu Sharma Since the Covid-19 pandemic, China has been trying to present itself as a reliable partner for economic recovery. But much like China’s vaccines that have raised questions about their effectiveness, the country’s partnership in economic recovery comes with waste, fraud and political manipulation. Furthermore, Beijing has failed to act against […]]]>

OPED By Vaishali Basu Sharma

Since the Covid-19 pandemic, China has been trying to present itself as a reliable partner for economic recovery. But much like China’s vaccines that have raised questions about their effectiveness, the country’s partnership in economic recovery comes with waste, fraud and political manipulation.

Furthermore, Beijing has failed to act against the corruption and criminality that Chinese government-affiliated companies usually use in South Asia to gain an unfair advantage.

Corruption is often a key element of Chinese economic engagement in the region. Estimates suggest that China is responsible for the largest illicit financial flows (IFFs) linked to corrupt business practices, by value globally, particularly to developing countries. Chinese nationals are regularly detained in Asian countries on suspicion of involvement in various illegal activities.

How Chinese apps tricked Indian borrowers

During the pandemic-induced lockdown, dozens of Chinese properties microcredit applications started working in India under very shady conditions. Claiming to be playing fair, Chinese instant loan apps Momo, CashBus, Timely Cash, Y Cash, Kissht, Robo Cash, Fast Rupee, Cash Mama and Loan Time offered payday loans to Indians, targeting low-end borrowers revenues. ladder. Many of these apps boast over a million installs. Borrowers are charged exorbitant processing fees and interest rates.

When repayments fail, these Chinese microcredit apps adopt aggressive recovery campaigns; borrowers receive bogus official-looking documents such as FIRs (Indian Police Reports), legal notices, court summonses, credit rating services downgrade alerts and even signed and stamped warnings from the Reserve Bank of India which really scares away those economically disadvantaged borrowers who lack basic finance knowledge.

According to blockchain data platform Chainalysis, CChinese Cryptocurrency Addresses Sent Over $2.2 Billion value of digital tokens to addresses linked to illegal activities such as scams and darknet operations between April 2019 and June 2021.

The Law Enforcement Directorate of India has come across cases in which black money was transferred to Chinese nationals converting Indian rupee into cryptocurrency.

Chinese illegal activities in Bangladesh

Recently, a Chinese national was apprehended by Indian authorities as he attempted to enter the country illegally through the Bangladesh border and was found to have provided at least 1,300 Indian SIM cards to its counterparts in Chinawhich would have been used to steal data and defraud people and banks.

Chinese nationals were found to be opening fictitious companies and bank accounts, as well as fictitious mobile phone numbers using these SIM cards. Last year’s scam involving malicious Chinese investment apps like Powerbank, Sun Factory, Ezplan was staggering in its scale with over 5 lakh people across India losing over Rs 150 crore.

China proactively seeks engagements in developing countries, approaching public or private stakeholders, timing project completion to coincide with elections in the partner country. As its embezzlement in megaprojects came to light, the Chinese government was forced to retire financing of three infrastructure projects in Bangladesh.

Under an approved Government-to-Government (GTG) project, China manipulated the fact that it would employ Chinese contractors with no opportunity to hire local contractors. In addition, these companies increase the amount of expenses by repeatedly extending the duration of the project under various pretexts.

The bridge over the Padma River in Bangladesh, which is being built by a Chinese company. (via Twitter)

The project involving the construction of railway lines at both ends of the Padma Bridge and reservoirs at the bottom of the Karnafuli River in Chittagong is suffering from major delays and huge cost overruns, with the money spent more than doubling from to the original estimate due to repeated extensions. .

Chinese companies and workers are known to frequently violate the environmental and labor standards of the countries in which they operate.

In Bangladesh, coal-fired power and infrastructure projects are causing widespread displacement of densely populated rural areas and endangering their ecosystem. Residents of the affected areas protested to end the relentless land grabbing by Chinese companies and for better working conditions at power plants.

Faulty payments, poor working facilities, impracticality and corruption are hallmarks of Chinese projects not only in Bangladesh, but almost everywhere they have entered infrastructure development.

In a recent case, it was detected that ‘bandroll’, a thin ribbon wrapped around bidis and packets of cigarettes and supposed to be purchased exclusively from the Bangladeshi government by manufacturing companies, were illegally printed by a Chinese company, based in Shenzhen.

The Chinese company called Digit Anti Fake Company Ltd (DAFC) provided counterfeit comics resulting in fraudulent tax evasion of more than 250 crore BD Taka for Bangladesh. She was also involved in printing other fake passports, ballot papers, national identity cards, birth certificates, etc.

Nepal also at the end of the reception

As the scale of Chinese investment has increased in Nepal, so has their bad reputation for indulging in unscrupulous and harmful business practices. In December 2019, authorities arrested 122 Chinese nationals living illegally in Nepal and involved in financial fraud through electronic transactions.

Anti-China protests in Vietnam in 2014 - Wikipedia
File image: Anti-China protests in Vietnam in 2014 – Wikipedia

As Nepalese law enforcement carried out investigations, China’s Ministry of Public Security (MPS) exerted influence and quickly flew the 122 defendants back via special plane to Beijing. Chinese nationals were found to be operating criminal networks for hacking bank ATMs and smuggling gold into Nepal.

This type of embezzlement by Chinese nationals, in which the state appears to be complicit, is not exclusive to Asia. In Africa, the extent of Chinese corruption is widespread and more and more documented. From paying bribes to win contracts to relentless delays in exploiting and hiding illegal income, Chinese corruption takes many forms.

Bloomberg reported on the extent of control exercised over Congo’s mines by Chinese companies, and how $3 billion in infrastructure funding pledged by Chinese companies never arrived. In Nambia, four Chinese tycoons allegedly ran a $300 million tax evasion scheme.

Amazon permanently banned more than 600 Chinese brands on 3,000 different seller accounts. He launched an investigation after The Wall Street Journal alleged that gadget makers like RavPower, part of Chinese consumer electronics company Sunvalley Group, were offering gift cards in exchange for reviews.

Also in China, the government’s plan to boost the semiconductor industry has actually led to a series of reckless investments in poorly planned projects, in which companies “with insufficient knowledge of circuit development integrated have blindly entered into projects. These went bankrupt within a few years after stealing multi-million dollar investments from government bodies.

Chinese syndicates and criminals have been extremely effective at creating loose and flexible multinational structures that are often linked to legitimate business enterprises and then exploiting weaknesses in the law enforcement systems of relatively weaker states.

The PRC is aware that under the Belt and Road Initiative (BRI), massive amounts of IFFs are occurring. Otherwise, why would Xi Jingping’s government commit to a new “Clean BRI” in 2019, promising to promote transparency and integrity, and fight corruption?

However, there seems to be little change towards more transparent transactions. In a post-pandemic situation where developing countries are also eyeing a rapid economic recovery, there is a risk of falling prey to illicit financial flows from China.

  • (The author is a strategic and economic affairs analyst. She has worked as a consultant to the National Security Council Secretariat for nearly a decade. She tweets at @basu_vaishali). PERSONAL VIEWS
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