Twenty business – Puro Veinte http://puroveinte.com/ Wed, 29 Jun 2022 18:07:24 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://puroveinte.com/wp-content/uploads/2021/11/icon-120x120.png Twenty business – Puro Veinte http://puroveinte.com/ 32 32 Create a path to financial freedom https://puroveinte.com/create-a-path-to-financial-freedom/ Wed, 29 Jun 2022 18:07:24 +0000 https://puroveinte.com/create-a-path-to-financial-freedom/ By Taylor Morgan | Special for the observer Taylor Morgan (OPINION) – What is financial freedom? Typically this means having the ability to buy what you need, being prepared for emergencies, having access to credit and using it wisely. Apparently, achieving financial freedom should be as simple as having a decent job and money in […]]]>

By Taylor Morgan | Special for the observer

Taylor Morgan

(OPINION) – What is financial freedom? Typically this means having the ability to buy what you need, being prepared for emergencies, having access to credit and using it wisely. Apparently, achieving financial freedom should be as simple as having a decent job and money in the bank.

But for many black people, financial freedom is either a distant dream or unattainable because of the discriminatory policies that have been put in place over the past two centuries – from slavery and redlining to school segregation and Jim Crow – these policies have created a systemic inequality that has been difficult to overcome.

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Best Cash Advance Apps https://puroveinte.com/best-cash-advance-apps/ Thu, 23 Jun 2022 20:31:13 +0000 https://puroveinte.com/best-cash-advance-apps/ The content of the CommonCentsMom.com website, such as text, graphics, images and other material contained on this site (“Content”) is for informational purposes only. The Content is not intended to be a substitute for professional financial or legal advice. Always seek the advice of your financial advisor, CPA and attorney with any questions you may […]]]>

The content of the CommonCentsMom.com website, such as text, graphics, images and other material contained on this site (“Content”) is for informational purposes only. The Content is not intended to be a substitute for professional financial or legal advice. Always seek the advice of your financial advisor, CPA and attorney with any questions you may have regarding your situation. Never disregard professional advice or delay seeking it because of something you read on this website!

There are a lot of people who don’t like the idea of ​​having to manage their finances. In reality, however, it is an important part of anyone’s life. If you are in a situation where you have to pay off your debts regularly, it can be very difficult.

This is why it is very important that you get the right cash advance apps. These are apps that will help you meet your financial needs so that you can get your finances under control and avoid paying off any unnecessary debt that may arise in the future.

What is a Cash Advance App?

Cash advance apps allow you to borrow money from your next paycheck without having to wait to receive it. This quick fix can be useful if you need cash quickly. Like other financial options, borrowing money costs you interest, but these apps aren’t like credit cards or personal loans. Instead, some apps’ interest comes in the form of monthly or annual fees that increase the amount you borrow. Many apps suggest that you tip the lenders you use.

How does the Cash Advance app work?

Cash advance apps monitor your spending and offer you cash advances ranging from $20 to $500. The amount you can borrow depends on several factors: your credit history, your bank account balance, the number of hours you work, and whether you have a bill to pay.

Since these apps rate your credit based on the amount of money you earn and spend, they can be intrusive. Some cash advance apps also require you to upload your work schedule or opt in to GPS tracking so they can verify you’re actually working.

Cash advance companies generally charge low fees, no good credit requirements, and do not charge interest. Payday and installment loans are predatory and can charge high interest rates and fees of up to 300%.

Best Cash Advance Apps

Best Cash Advance Apps

Earning: the best for paying less

Earnin is a new platform that aims to make the monetary system fair by helping workers escape the cycle that is holding back their wages. Earnin lets you borrow up to $250 each pay period, but the amount you can borrow depends on how many hours you’ve worked. Earnin does not charge you money to use its service, but you will need to upload your work schedule to get a cash advance.

Dave: the best for the preparation

Dave is a different loan service that lets you borrow up to $250 each pay period, and it does it instantly. When you have funds that are about to go over, it warns you to apply for them to be refunded immediately. You can also apply for a cash advance to cover the cost of your next payday. There are no interest requirements and no credit checks.

Brigit: best for budgeting

Brigit offers both a free subscription and a paid subscription. You can borrow up to $250 from your next paycheck if you need extra money fast. If you want an instant cash advance, you have to pay it monthly (starting at $9.99). It’s more expensive to get an advance from Brigit, but it’s free to borrow money the same day with a debit card. Brigit lets you borrow up to $250 each pay period, and it will monitor your account and automatically send you a loan when you might run out of money.

Chime SpotMe: the best overdraft protection

Chime SpotMe is a free service that helps you get up to $200 off your next pay period if your account goes over its limit. Must have received $200 in eligible direct deposit into your Chime account within the last 34 days. If you receive a paycheck by direct deposit, you can borrow up to $200.

MoneyLion: best for variety

MoneyLion lets you borrow up to $250 starting on your next pay period, with no interest or credit checks. It is available 24/7 and the money will appear in your account within seconds. The RoarMoney feature gives you the option to receive money from your next paycheck two days before it arrives in your account.

Klover: the best for some advanced needs

Klover is a subscription-based monthly cash advance app that charges a small Klover+ fee of $2.99 ​​per month to access your money. This is for people who earn money regularly and only need small advances of up to $100 per pay period – with the option to increase this amount to $130 for additional activities. But it costs up to $9.99 to process your advance, which is more than some other cash advance apps like Dave or Brigit. It’s better for people who only need a small advance and don’t need to get it right away.

B9: Ideal for full access to paychecks

B9 Cash advances you up to 100% of your money as soon as you receive your next paycheque, sometimes as early as 15 days before your next payday. There’s no charge to get a cash advance before your next paycheck arrives — and you don’t have to tip when asking for a cash advance — but you do need to establish your history payment and income to obtain a full advance. B9 charges a monthly fee of $9.99, which is similar to Brigit’s, but you can access more of your money sooner, so for some people it’s better value.

Vola Finance: the best for the self-employed

Vola Finance is a monthly paid app that lets you get up to $300 in cash advances. It charges a minimum of $2.99 ​​per month to access the service. Vola doesn’t require you to work regularly to get a cash advance – and you don’t have to be a regular employee to be able to apply for one. As long as you have an account balance of $150 or more and have deposited money into the account, you may qualify for a maximum of $300 per payday. Vola provides cash advances as well as a way to track your money to avoid paying overdraft fees.

These are the best cash advance apps currently available. Each of these apps is useful in different ways and you can use them in combination with each other to improve your financial life. Try each of these cash advance apps and see which works best for you.

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Review of possible financing installment loans 2022 – Forbes Advisor https://puroveinte.com/review-of-possible-financing-installment-loans-2022-forbes-advisor/ Thu, 09 Jun 2022 17:12:24 +0000 https://puroveinte.com/review-of-possible-financing-installment-loans-2022-forbes-advisor/ Although Possible Finance can quickly offer small loans to borrowers with bad credit (or no credit), it charges higher APRs than some other personal lenders. Here’s how Possible Finance’s installment loans stack up against competitors. Possible financing against upgrade Upgrade offers personal loans starting at $1,000, so it might be a better option than Possible […]]]>

Although Possible Finance can quickly offer small loans to borrowers with bad credit (or no credit), it charges higher APRs than some other personal lenders. Here’s how Possible Finance’s installment loans stack up against competitors.

Possible financing against upgrade

Upgrade offers personal loans starting at $1,000, so it might be a better option than Possible Finance if you need to borrow more than $500. In fact, you can borrow up to $50,000 with the upgrade and APRs start around 6% and go up to 36%. Since Upgrade’s rates are much more competitive than those of Possible Finance, it may be worth checking to see if you qualify for one of its personal loans before borrowing a Possible installment loan.

The upgrade requires a minimum credit score of 580 to qualify, making it a viable option for potential borrowers with damaged credit.

Related: Personal Loans Review Upgrade

Possible financing against SoFi

Possible Finance offers small loans up to $500, but SoFi funds personal loans between $5,000 and $100,000. SoFi’s competitive APRs start around 6%, but you’ll need to pass a credit check to qualify. SoFi requires a minimum credit score of 650. If you cannot qualify on your own, you may consider applying with a co-borrower, such as a spouse or trusted friend.

Related: SoFi Personal Loans Review

Possible financing against LightStream

Similar to SoFi, LightStream also offers personal loans from $5,000 to $100,000, depending on the purpose of the loan, with competitive APRs starting in the low single digits. While Possible Finance finances short-term loans, LightStream allows you to repay your loans over two to 20 years. You must have a minimum credit score of 660 to qualify for a LightStream personal loan.

Related: LightStream Personal Loans Review

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Jim Beam column: Payday loan bill must be vetoed – American Press https://puroveinte.com/jim-beam-column-payday-loan-bill-must-be-vetoed-american-press/ Sun, 29 May 2022 12:00:26 +0000 https://puroveinte.com/jim-beam-column-payday-loan-bill-must-be-vetoed-american-press/ Louisiana lawmakers have passed a payday loan bill that will only cause more debt problems for citizens who need the financial boost they can get elsewhere.metrocreativeconnection.com From time to time, Louisiana lawmakers have come to the aid of those who make so-called payday loans. Sen. Rick Ward, R-Port Allen, is this year’s champion with Senate […]]]>

From time to time, Louisiana lawmakers have come to the aid of those who make so-called payday loans. Sen. Rick Ward, R-Port Allen, is this year’s champion with Senate Bill 381.

Legislation that was narrowly passed by both houses would cap finance charges at 100% of the original loan amount. That means lenders could charge up to $1,500 in fees on a $1,500 loan, for a total repayment of $3,000, according to The Advocate.

The senator said his “Louisiana Access to Credit Loans Act” would help state residents living on a paycheck make ends meet when faced with surprisingly large expenses.

Under current law, lenders can offer a loan of up to $350, due on the borrower’s next payday. The maximum the lender can make per loan is $55. Ward’s bill does not change that.

Ward sponsored another payday loan bill in 2018. It stated that the loan term could not be less than three months and could not exceed 12 months. The amount of the loan could not be less than $500 and could not exceed $875. The bill passed the Senate 20-17 but died in the House Commerce Committee.

I wrote in a June 3, 1999 column about a Bossier City woman who got one of these loans. She needed $200 for an emergency out-of-town trip and took out a two-week loan. The maximum they lent at that time was $201 and it had to be paid back in 14 days.

When a customer borrowed that $201, they had to leave a check for $246 to cover the principal and $15 in interest. The other $30 was for documentation and set-up costs. That’s an annual interest rate of over 580 percent.

“It was a little high,” the borrower said, “but when you need it, you need it.”

The Associated Press reported that there were about 30 payday loan companies in the state in 1992. That number grew to 455 in 1998 and 489 by the end of 1999.

Foster Campbell, a current member of the Louisiana Civil Service Commission, was a state senator in 1999. He said, “We’ve had 500 of these companies open since 1992 and none of them have failed. . I have never heard of such statistics. But the reason why they didn’t is because they deceive people by charging outrageous interest rates.

OK, back to Ward’s bill which passed the House 54-35, one vote more than the 53 needed. The Senate vote was 20 to 14, the exact majority he needed.

Republican senses Mark Abraham of Lake Charles and Mike Reese of Leesville voted for Ward’s bill. Sen. Jeremy Stine, R-Lake Charles, voted against. Sen. Heather Cloud, R-Turkey Creek, was recorded as absent.

GOP Representatives Ryan Bourriaque of Grand Lake, Dewith Carrier of Oakdale, Troy Romero of Jennings and Phillip Tarver of Lake Charles voted for the bill. Representatives Wilford Carter, D-Lake Charles; Charles Owen, R-Rosepine, and Rodney Schamerhorn, R-Hornbeck, voted against. Representative Brett Geymann, R-Moss Bluff, was recorded as an absentee.

The bill now awaits action by Governor John Bel Edwards. Lenders would make most of their money through monthly maintenance fees of up to 13% of the original loan amount.

Alex Horowitz, consumer credit researcher at The Pew Charitable Trusts, told The Advocate he had never seen such high fees. He said the bill would expose Louisiana consumers to financial harm, rather than creating an affordable loan market. Horowitz said seven of the nation’s 12 largest banks have launched or announced programs to provide small dollar loans to customers.

Kenneth Pickering twice served as Louisiana’s chief banking regulator. He said he had no idea what the maintenance fee even covers. “Once a loan is on the books, there’s nothing left to maintain,” he said. Pickering calls it more interest.

Stanley Dameron, Commissioner of the Office of Financial Institutions, said: “Some of the people applying for these loans might not qualify from your bank, but they certainly would from a credit union or finance company. “

Pelican State Credit Union’s Jessica Sharon told lawmakers that credit unions were explicitly created to help people of modest means.

Even an official from a state association that represents payday lenders said Ward’s new product was unnecessary. He said the loans are already available in Louisiana at a fraction of the cost. “It’s greed and arrogance at the highest level,” he said.

Ward’s bill is certainly a strong candidate for a gubernatorial veto.

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How to spot predatory lenders https://puroveinte.com/how-to-spot-predatory-lenders/ Wed, 25 May 2022 08:56:27 +0000 https://puroveinte.com/how-to-spot-predatory-lenders/ Loan sharks are illegal moneylenders, often part of organized crime, who threaten and use violence to recover their money from borrowers. Although loan sharks are less prevalent with a drop in organized crime, vulnerable people are still victims of predatory lending. If borrowing money from loved ones isn’t an option, you can consider secured credit […]]]>
  • Loan sharks are illegal moneylenders, often part of organized crime, who threaten and use violence to recover their money from borrowers.
  • Although loan sharks are less prevalent with a drop in organized crime, vulnerable people are still victims of predatory lending.
  • If borrowing money from loved ones isn’t an option, you can consider secured credit cards or second-chance banking as an alternative.

As the name suggests, loan sharks prey on vulnerable people who are in need of money with no other options. They are usually associated with organized crime, which has become increasingly common on television than on the streets.

However, these vulnerable borrowers still exist. Over time, loan sharks evolved into a new technically legal form of lending to take advantage of these people: predatory lenders.

What is a loan shark?

A loan shark is a type of predatory moneylender, often part of a larger criminal organization, who lends money to borrowers outside the law. These loans often come with high interest rates, usually beyond the legal limit set by state law. Reimbursement is usually enforced by threats and the use of violence.

Victims of loan sharks are usually vulnerable people who desperately need money immediately. Either they don’t have time to wait for a loan to be approved, or they can’t qualify for any type of loan. Loan sharks operate locally, so a victim is usually “someone in the neighborhood who knows someone with money on the street,” says Jeffrey Cramer, senior managing director of Signpost Solutions and former New York District Attorney. “The loan sharks don’t advertise. So it’s usually word of mouth.”

How loan sharks work

Most loan sharks offer smaller, short-term loans. “We’re not talking about a mortgage for a house or anything. Usually it’s several hundred, several thousand dollars, money they may owe right now,” Cramer says. This loan comes with high interest rates which are usually insurmountable for people who usually need to look for an alternative financial service.

How to find a loan shark

It is important to know where to find loan sharks, in order to avoid them completely.

Luckily, you’re unlikely to come across a loan shark, mostly because it’s largely collapsed with the decline of organized crime. Cramer also says that most people who borrow from loan sharks know what they’re getting into, but don’t have an alternative, so you won’t accidentally bump into a loan shark.

However, you could quickly find yourself in a similar situation if you take out a loan with a high interest rate. “The loan shark concept has been incorporated into these companies, let’s call them predatory loan companies,” Cramer said. These predatory loans often do not take into account the repayment capacity of the borrower. “They’re not going to break your legs, it’s all done under the guise of the law. They’re going to garnish wages, they’re going to send in a debt collector.”

Alternatives to predatory lending

Loan sharks may be largely a thing of the past, but their potential victims are still very much around. A Morning Consult 2021 survey found that 10% of American adults are unbanked – meaning they don’t have a checking or savings account – and 25% are underbanked – meaning they have an account. savings or checking account, but used an alternative financial service within one year of completing the survey.

These households do not have access to financial institutions for various reasons – they do not trust financial institutions, they are undocumented, they cannot qualify due to past credit errors. A large portion of this group simply cannot afford the associated fees or minimum deposit requirements. “If you can go to a bank or borrow with a credit card, it’s infinitely cheaper,” says Jack Miller, strategic finance adviser at Estate bees and founder of Gelt Financial, LLC. “But there’s a large chunk of the population that’s just underbanked.”

Instead of turning to financial institutions, these borrowers turn to alternative lending companies with high interest rates. Payday loans are a good example. These loans, also known as cash advance loans, give borrowers immediate access to small amounts of money – typically $500 or less – with high interest rates. Repayment is due on the borrower’s next payday.

These loans can be attractive to distressed borrowers because they do not take into account the borrower’s ability to repay the loan. But this interest rate can quickly become a problem if the borrower does not have the funds to repay the lender.

Miller says the best option for the unbanked is to borrow from a loved one, whether it’s a family member or friend. Of course, that might not be an option for everyone because “in a lot of communities, you know, friends and families don’t have that money,” Miller says. If so, here are some alternatives:

Second Chance Bank: Banks often offer a simplified version of a checking account for people with complicated credit histories. The registration process generally skips the credit check, but has some limitations. For example, people with these bank accounts usually do not have access to a debit card to avoid overdraft fees. They also usually come with lower monthly fees and lower minimum balances.

Secured credit cards: Another option for people with verified credit history might be a secured credit card. These are credit cards that are secured by a security deposit that you make when you open the card. These credit cards often overlook credit errors or lack of credit history. The minimum security deposit usually hovers around $200 depending on the credit card, but you can get it back when you close the credit card.

Not only do they offer a line of credit and a chance to rebuild your credit, but they also offer lower APRs than unsecured credit cards because the debt is already covered by that security deposit.

These options do not completely solve the underbanking problem in the United States, but they are a start. “They really need to take every little step they can to push them in the right direction,” Miller said.

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Live News: Frozen Russian assets should pay for Ukraine’s $500bn reconstruction, says Zelensky https://puroveinte.com/live-news-frozen-russian-assets-should-pay-for-ukraines-500bn-reconstruction-says-zelensky/ Mon, 23 May 2022 11:24:24 +0000 https://puroveinte.com/live-news-frozen-russian-assets-should-pay-for-ukraines-500bn-reconstruction-says-zelensky/ World leaders, business leaders and celebrities will finally gather in Davos, Switzerland, for the annual meeting of the World Economic Forum this week, after Covid-19 delayed the in-person summit for more than two years. The conference usually takes place in January but was pushed back to May after a rise in coronavirus cases forced the […]]]>

World leaders, business leaders and celebrities will finally gather in Davos, Switzerland, for the annual meeting of the World Economic Forum this week, after Covid-19 delayed the in-person summit for more than two years.

The conference usually takes place in January but was pushed back to May after a rise in coronavirus cases forced the WEF to delay the summit to December.

The meeting will start on Tuesday and end on Thursday.

In keeping with this year’s theme – “History at a Turning Point: Government Policies and Trade Strategies” – the meeting will include sessions on economic rebalancing, governance and security, equity and global health, in a global context. inflation, supply chain disruptions, the pandemic and Russia’s war in Ukraine.

Ukrainian President Volodymyr Zelensky will deliver a special virtual speech on the first day of the conference. Russian cadres and leaders were not invited to the summit in response to the invasion.

Christine Lagarde, President of the European Central Bank, will deliver a keynote address on Europe’s global role at a dinner on Tuesday and discuss the continent’s unity at a panel on Wednesday.

Nick Clegg, president of global affairs at Facebook parent company Meta, is expected to attend the same dinner as Lagarde alongside Ukrainian Foreign Minister Dmytro Kuleba, the Belgian and Luxembourg prime ministers and other world leaders.

Ruth Porat, chief financial officer of Google’s parent company, Alphabet, will discuss the digital economy during a panel on Tuesday. Alan Jope, chief executive of consumer goods company Unilever, will discuss global environmental, social and corporate governance issues during a panel with Bank of America chief executive Brian Moynihan on the same day.

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Governor Pritzker Signs Illinois Banking Development Districts Act https://puroveinte.com/governor-pritzker-signs-illinois-banking-development-districts-act/ Fri, 20 May 2022 01:35:00 +0000 https://puroveinte.com/governor-pritzker-signs-illinois-banking-development-districts-act/ CHICAGO – Governor Pritzker signed HB 5194, the Illinois Banking Development Districts Act, goes into effect Friday. Sponsored by State Sen. Doris Turner (D-Springfield) and State Rep. La Shawn Ford (D-Chicago), the legislation creates a new incentive program for establishing bank branches in underserved communities. The program uses public-linked deposits and Community Reinvestment Act (CRA) […]]]>

CHICAGO – Governor Pritzker signed HB 5194, the Illinois Banking Development Districts Act, goes into effect Friday. Sponsored by State Sen. Doris Turner (D-Springfield) and State Rep. La Shawn Ford (D-Chicago), the legislation creates a new incentive program for establishing bank branches in underserved communities. The program uses public-linked deposits and Community Reinvestment Act (CRA) review standards to attract bank branches to underserved communities, similar to a program in New York.

Like the New York program, banks and local governments in Illinois will jointly create a plan for a new banking development district in an area that needs it. The Illinois Department of Financial and Professional Regulation will evaluate these plans in consultation with the Illinois State Treasurer and approve plans that create consumer-friendly banking options in underserved areas.

The number of bank branch closures has increased significantly since the start of the COVID-19 pandemic. In 2021, 2,927 bank branches closed nationwide, a 38% increase from 2020. One hundred and fifty-three of these branch closures occurred in Illinois, primarily from large commercial banks.

“There are millions of people across the country and in Illinois who, due to account balance barriers and minimum deposit requirements, do not have a reliable bank,” said State Sen. Doris Turner (D-Springfield). “This law will allow communities to take a stand and create the conditions for a fairer banking experience.”

“When residents do not have adequate access to banking services, they often turn to payday loans, pawnbrokers and predatory lenders which can harm their financial stability,” State Rep. La Shawn Ford (D-Chicago) said. “That is why this measure is an important step to encourage the establishment of bank branches and necessary financial services in areas that have large underbanked populations.”

“We have seen what happens when households do not have access to basic safe banking products,” said Chasse Rehwinkel, director of the banking division. “Unbanked people who don’t use a prepaid card that offers direct deposit are paying around $180 a year just to access their own money, an unacceptable cost for people living paycheck to paycheck. Creating banking development districts in Illinois will provide policymakers with another tool to improve financial equity in underserved communities across the state.”

The New York Banking Development Districts program has been active since 1997 and has led to more than 30 new banking development districts, more than 60,000 new bank accounts, and generated more than $500 million in new credit to underserved households.

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District 41 Candidates Discuss West Taos County | Policy https://puroveinte.com/district-41-candidates-discuss-west-taos-county-policy/ Thu, 12 May 2022 15:40:00 +0000 https://puroveinte.com/district-41-candidates-discuss-west-taos-county-policy/ Two candidates vying for the District 41 seat in New Mexico debated Monday night (May 9) at a forum hosted by the Taos County Democratic Party. Incumbent Susan Herrera and newcomer Marlo Martinez are both competing to represent House District 41, which, while primarily encompassing Rio Arriba County, also includes western portions of Taos County […]]]>

Two candidates vying for the District 41 seat in New Mexico debated Monday night (May 9) at a forum hosted by the Taos County Democratic Party.

Incumbent Susan Herrera and newcomer Marlo Martinez are both competing to represent House District 41, which, while primarily encompassing Rio Arriba County, also includes western portions of Taos County including Tres Piedras, Carson, a part of Arroyo Hondo and Ojo Caliente.

A rift between the two candidates became clearer as they debated topics ranging from renewable energy to gun regulations.

Herrera, who was elected in 2018, said she was strongly opposed to pursuing long-term oil and gas development in New Mexico, but added that “it’s a careful needle that we have to thread.” She said she hopes to bolster the state’s renewable energy fund and invest more money in rural infrastructure development.

She said the way to do that legislatively is to look at examples like Kit Carson Electric Cooperative. “You have to have leadership at the local level… [KCEC] is not just a model in the state, but a model in the nation,” she said, adding that she would encourage all rural cooperatives to pursue similar goals.

Martinez agreed the transition was necessary, but said “New Mexico’s state budget is dependent on oil and gas at about 40% of the budget. I think we need to carefully move from oil and gas to renewable energy, maybe subsidizing solar power for homes. He noted that subsidizing solar energy at the federal level would also go a long way in facilitating this transition.

Taos County Democratic Party chairman and host Darien Fernandez asked each candidate if they had accepted campaign donations from oil or gas companies. Martinez said yes, and again stressed the importance of a slower transition. “We kind of abruptly cut oil off because they’re a lifeline for New Mexico,” he said.

Herrera said she hadn’t taken any fossil fuel contributions to her knowledge and said she mostly self-funded her campaign. “I never wanted a lobbyist to look me in the eye and say, ‘Hey, I paid that much, where’s my refund?’ I really haven’t needed their money in the past and I don’t think I will need it in the future,” she said.

Martinez replied that “[Representative] Javier Martinez and the President [of the House, Brian Egolf] give money to my opponent, and they take money from oil and gas… I think oil and gas can invest in renewable energy. I don’t see why they can’t.

When asked about their legislative priorities and the direction in which they would focus, the candidates again showed differences.

Martinez said his top priority would be to bring more funding to the district. “For example, Arroyo Hondo [has] a center there that needs kitchen facilities to be active,” he said, referring to the defunct Arroyo Hondo community center. “There are also a lot of complaints about the roads in this area that they need to be repaired.”

He said his other priorities would include funding youth programs and broadband access, as well as addressing behavioral health issues, low graduation rates and criminal justice reform.

“I’m looking at millions and millions and billions of dollars for water infrastructure in the state. I think that’s the number one problem for our rural communities,” Herrera said. “My big push is on rural water infrastructure and that’s gearing up for this huge, huge amount of infrastructure [money] it comes from the federal level.

Herrera also said she remains focused on fixing the Arroyo Hondo Community Center now that the title has passed to the appropriate party.

While Taos County is only a small portion of District 41, it still encompasses several local communities, and each contestant was asked how much time they spend watching the Taos County portion of the district. Herrera said she always gives legislative updates to the various municipal bodies in her district and said she tries to work on capital spending projects with her respective state senators and representatives from surrounding districts.

“I think the down payment is really part of the amount of money needed in my district,” Martinez said. “I think we need a lot more money, as I mentioned earlier, to do some of the things that we need to do in this district.” He agreed, however, that the right approach is “needs-based and works hand-in-hand with each community”.

On water and allocating money to water rights, acequias and sustainability, both candidates were in agreement, saying more funding should be sought, especially at the federal level. .

The subject of state reimbursement checks was also brought up, with Martinez saying he felt the money could be better spent on infrastructure. “One trip to the grocery store and your $500 is gone,” he said. “I would say it’s better to invest $700 million and leverage that $700 million with the feds or other entities to get over $1 billion so we can solve our problems in our state. .”

Herrera, who voted for the family discount bill, said she recognizes the poverty in her district. She said that, faced with a budget surplus, she thought about getting immediate help for the families. “I think right now we had to look after poor working families, and that’s kind of what I represent – ​​working families. Five hundred dollars might not mean much to everyone on this Zoom, but it certainly means a lot to a family trying to decide whether to pay the rent or the grocery bill.

Arms control presented another split among the candidates. Herrera said she had many discussions in which gun violence was brought up. “In every one of those meetings, someone said, ‘What are you going to do about gun violence? What are you going to do and how are you going to fix it?'” she said. stop this crazy system we have.” She said she was in favor of background checks and proper registration.

Herrera clarified “no one is talking about banning the hunt…I have a family of hunters and we draw to get an elk and it’s a huge family tradition.”

Martinez admitted his district was pretty “armed up” and said he wasn’t sure how he would vote on a law banning assault rifles and extended magazines. “I don’t know if it’s going to solve the problem if you don’t address behavioral health issues… We just put people in jail and we don’t pay attention to them,” he said.

The contestants were allowed to ask each other one question, at which point Herrera quizzed Martinez on the reason for his candidacy. “I’m really curious why you’re running against me because, in fact, we agree on 95% of the issues,” she asked.

” It’s not against you. It’s for the job. I think voters deserve to have a choice. I think with my life experience, I would do a good job… Money is spent where it shouldn’t. We have needs like fire victims and our infrastructure and our schools and our water,” he replied.

He then asked Herrrera why she told credit unions he was in favor of payday loans. “I’m not in favor of payday loans,” he said.

“I never told anyone you were for predatory lending,” she replied, adding that she had heard that Martinez was backed by someone who was into predatory lending.

In closing, Herrera said she felt she had done a good job representing the 41st District for the past four years. She noted her progress toward drug treatment centers in Española and a drug rehabilitation center in Taos County. “I’m proud of what I’ve achieved so far.”

Martinez said he felt he was the man for the job. “I think I can do a better job because I have business experience, I have common sense, I know people’s needs, I’m from northern New Mexico, and I know the county of Taos. As a small business owner, I go to Taos every week…I just don’t think we’re fast enough to move in the right direction.

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Increase in identity theft cases in Los Angeles https://puroveinte.com/increase-in-identity-theft-cases-in-los-angeles/ Tue, 10 May 2022 13:00:42 +0000 https://puroveinte.com/increase-in-identity-theft-cases-in-los-angeles/ Eddie Kim was looking at his bank statement online last December when he came across something suspicious. There was a $500 cash advance on her new credit card. The problem was that Kim had flown out of the country shortly after applying for the card and had yet to receive it. “I thought, ‘Wait, that […]]]>

Eddie Kim was looking at his bank statement online last December when he came across something suspicious. There was a $500 cash advance on her new credit card. The problem was that Kim had flown out of the country shortly after applying for the card and had yet to receive it.

“I thought, ‘Wait, that doesn’t make sense,'” Kim said. “I called the bank and found out someone had tried to withdraw money using a cash advance and then somehow got approved.”

When Kim returned to her Torrance at home, he discovered that his mailbox had been broken into. He reported the identity theft to his credit card issuer, got a PO box, and changed his information. But the thieves had created a fake email, and a identity theft nightmare was in progress.

Although Kim took steps to protect herself, such as freezing her credit report, the thieves sought to counter every move and attempted to open a Walmart credit card. Months later, he still feels vulnerable.

“I’m pretty sure my information is still there somewhere,” he said.

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Kim’s situation is not unique. Unfortunately for him and many others, cases have exploded in Los Angeles. In February, there were 1,272 reports of identity theft in the city, according to Los Angeles Police Department publicly available data. That was a 104% increase from the number of crimes in the same month last year.

March was worse: 1,437 identity theft reports were the highest monthly total since January 2016.

Line chart of identity theft reports

According to Lt. Manny Martinez of the LAPD’s Commercial Crimes Division, the recent wave of local identity thefts stems from thieves trying to steal information so they can apply for unemployment benefits or EBT cards. The cards allow recipients of government assistance to pay retailers for their purchases.

Martinez said thieves try to take advantage of a lag in the time it takes for victims to notice someone has stolen their identity.

“It’s probably because the California government requires people to file a police report before they can determine it’s not you and cancel the account,” he said.

For a long time, Martinez added, employees of the California Employment Development Department did not conduct thorough credential checks because the goal was to get money quickly to people who needed it. Criminals took advantage of this situation, he said.

“The state is getting better at verification, but for a long time the process was streamlined,” Martinez said.

pandemic peak

Unemployment insurance fraud exploded at the start of the pandemic. The state paid at least $20 billion fraudulent benefits since the onset of COVID-19.

The problem has not gone away. In January, Cal Matters reported that the EDD has been plagued with cases of fraud.

It showed up in Los Angeles, said Capt. Alfonso Lopez of the LAPD’s Commercial Crimes Division.

“Identity theft is linked to people returning to work, people going to dinner, break-ins in vehicles and card skimming,” Lopez said. “But this most recent increase, based on our analysis, is due to EBT and EDD theft.”

Thieves use various methods to steal an identity. Some install skimmers and scanners on gas pumps. Others break into vehicles or homes to take credit cards and other forms of identification.

Then there is mail theft, which can take different forms. Sometimes thieves break open mailboxes. Other times they try to retrieve individual mail, hoping to find personal or financial information, Martinez said.

“Some emails may have a date of birth, and other emails may have a social status. [security number],” he said. “They just put it all together, and now they have your profile.”

In the first quarter of 2022, single-family homes were the scene of 43% of identity thefts in the city, according to LAPD data.

Another contributing factor, Martinez said, is that most businesses have reopened and others are increasingly easing restrictions put in place during the pandemic. This presents the possibility of additional victims.

“More people are shopping, they are going to restaurants, they are using their cards,” he said. “People get information about people because it’s more readily available.”

In the first quarter of 2022, West Lake registered 199 reports of identity theft, more than any other neighborhood in Los Angeles. Criminals were also very active in Baldwin/Crenshaw Hills (179 incidents).

Table of neighborhoods with the most impersonations this year

The LAPD has a number of proposals to avoid becoming a victim of identity theft, including always carrying credit card receipts and never throwing them in a public trash can.

Martinez suggests getting a PO Box and, when using an ATM, covering the keypad while entering the PIN.

how we did it: We reviewed publicly available identity theft data Los Angeles Police Department from January 1, 2016 to March 31, 2022. For the boundaries of the districts, we rely on the borders defined by the Los Angeles Times. Learn more about our data here.

LAPD data only reflects crimes reported to the department, not the number of crimes actually committed. To perform our calculations, we rely on data that the LAPD makes public. The LAPD may update old crime reports with new information or recategorize old reports. These revised reports are not always automatically part of the public database.

Do you have questions about our data? Write to us at askus@xtown.la.

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Wisconsin is paying for a practice that some say is legalized loan sharking https://puroveinte.com/wisconsin-is-paying-for-a-practice-that-some-say-is-legalized-loan-sharking/ Fri, 29 Apr 2022 21:50:00 +0000 https://puroveinte.com/wisconsin-is-paying-for-a-practice-that-some-say-is-legalized-loan-sharking/ MILWAUKEE—A new study shows that Wisconsin residents pay some of the highest rates in the country for payday loans. There are payday loan companies all over the country. There are approximately 23,000 of these lenders open right now. This is almost double the amount of McDonald’s open Across the country. A man we spoke to […]]]>

MILWAUKEE—A new study shows that Wisconsin residents pay some of the highest rates in the country for payday loans.

There are payday loan companies all over the country. There are approximately 23,000 of these lenders open right now. This is almost double the amount of McDonald’s open Across the country.

A man we spoke to in Milwaukee, who only used his first name, Trey, said he prefers using these types of businesses over banks. Although he does not get any loans from them.

Nati Harnik/AP

In this photo from Friday, Feb. 17, 2017, an unidentified person leaves the storefront of the EZ Money Check Cashing store in Omaha, Neb. (AP Photo/Nati Harnik)

“The banks, they want answers. They don’t want answers. They give you what you ask for,” Trey said.

Screenshot 2022-04-29 at 15:47.18.png

ATM4

Trey, who did not give his last name, says he regularly uses a check cashing store because he doesn’t like dealing with banks.

Another man we spoke to, who didn’t want to go on camera, says he got a payday loan and would never get one again because the interest was exorbitant.

Wisconsin does not cap the amount of interest a payday lender can charge.

Only these 18 states cap payday loans at an interest rate of 36% or less:
Arkansas
Arizona
Colorado
Connecticut
Georgia
Hawaii
Maryland
Massachusetts
Montana
Nebraska
New Hampshire
New Jersey
New York
North Carolina
Pennsylvania
South Dakota
Vermont
West Virginia
washington d.c.

In Wisconsin, the average person who borrows from a payday loan store typically pays hundreds of dollars in fees.

Pew Charitable Trusts found if someone borrows $500 from a payday lender, the average cost to borrow that money is $395 in fees. That’s an interest rate of 338 percent. The average credit card interest rate is 16%.

On top of that, one in four people typically re-borrow on the same payday loan at least nine times, according to the Consumer Financial Protection Bureau.

andre jacque.jpeg

Wisconsin Department of Administration

“It’s always at such an exorbitant level that you take on subsequent loans and really create this cycle. This debt trap that people can never get out of from below, and that’s predatory lending, purely and simply,” said Republican state senator André Jacque.

He presented a bill this year to cap the amount of interest payday lenders could charge at 36%. But this bill was not passed before the end of the session.

One of the groups advocating against caps for payday lenders is the Wisconsin Bankers Association. The president and general manager of the association Rose Oswald Poels says they are against any type of interest rate cap. Even though they say they would like to see more regulation on the industry as a whole.

state capital

UniversalImagesGroupUniversalImagesGroup

State Capitol, Madison, Wisconsin. (Photo by: Universal Images Group via Getty Images)

“We just don’t want to cap interest rates on loans. I don’t think it’s in anyone’s interest to arbitrarily set interest rates on the loan,” Poels said.

Jacque says if banks and credit unions can deal with regulations, why not payday lenders?

“A lot of people have been hurt by predatory lending, and this is, I think, an easy way to make sure it doesn’t affect more of our citizens,” Jacque said.

He plans to reintroduce legislation to regulate payday lenders next year. In the meantime, he encourages people who need a quick loan to check with a bank or credit union first and find out what fees you might pay if you got a short-term loan. .

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