Texas Installment Loans – Uncharted 3 Blog http://uncharted3blog.com/ Sat, 25 Sep 2021 14:14:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://uncharted3blog.com/wp-content/uploads/2021/05/default.png Texas Installment Loans – Uncharted 3 Blog http://uncharted3blog.com/ 32 32 Why retailers accept purchases now and pay for financial services later https://uncharted3blog.com/why-retailers-accept-purchases-now-and-pay-for-financial-services-later/ https://uncharted3blog.com/why-retailers-accept-purchases-now-and-pay-for-financial-services-later/#respond Sat, 25 Sep 2021 14:14:20 +0000 https://uncharted3blog.com/why-retailers-accept-purchases-now-and-pay-for-financial-services-later/ The supply chain is groaning and manufacturing is limited. For weeks, the headlines sent a clear message to shoppers: shopping this holiday season is fast. In recent years, hasty shoppers may have turned to reservation plans to reserve holiday gifts and pay for their purchases over time. However, many retailers, including the country’s largest Wal-Mart, […]]]>

The supply chain is groaning and manufacturing is limited. For weeks, the headlines sent a clear message to shoppers: shopping this holiday season is fast.

In recent years, hasty shoppers may have turned to reservation plans to reserve holiday gifts and pay for their purchases over time. However, many retailers, including the country’s largest Wal-Mart, have eliminated or reduced these programs. One of the reasons is that buyers are free to use new tools to distribute their payments.

A popular option for consumers is to buy now and pay for the plan later. Retailers are also big fans. Point-of-sale loans are easy to manage for retailers, and research shows these options lead to larger carts and increased customer loyalty. RBC Capital Markets estimates that the BNPL option will increase retail conversion rates from 20% to 30% and increase the average note size from 30% to 50%.

Adding additional sales

“It’s about getting additional sales or increasing consumers,” said Russell Isaacson, director of retail and auto lending at Ally Lending.

According to Kearney’s associate partner for financial services operations, Hemal Nagarches, payouts provide consumers with choice and convenience when it comes to budgeting and purchasing. He also said the option would increase trust between retailers and consumers, leading to “increased sales, increased average purchase size and increased frequency of purchases.”

Buy now and pay later. Payment plans from companies like Affirm, Afterpay in Australia, and Klarna in Sweden are especially appealing to young buyers such as Gen Z and Millennial consumers. is. Each plan varies in the number of payments on specific terms, but an important similarity is the promise of a handful of equal payments in a relatively short period of time, with no hidden fees. In many cases, the plan is irrelevant.

Installment payments are popular with consumers who don’t have credit or don’t want to buy with a credit card for a variety of reasons. According to Hans Zandhuis, president of Ally Lending, this option makes a lot of sense for buyers who don’t have the money to cover the full purchase, but will pay a few salaries in the future.

According to Zandhuis, the average transaction value for a buy now is around $ 200 and you will have to buy it later. In many cases, the retailer’s checkout amount was around $ 100 if the option to pay later was not available, he said. This allows the same consumer to spend $ 175 to $ 200, and a four-month payment of $ 50. Payments are meant to match the payroll cycle.

For example, consider the clothing retailer Rue21. Its main demographic are women between the ages of 18 and 25, who often do not use credit cards. Increasing the average order volume is a high priority as the website has a large number of items at low prices and the traffic in the mall is dropping.

When the pandemic closed the store, Rue21 had to find a way to sell it to online shoppers without credit. According to a case study published by Klarna, Rue21 added Klarna as an in-store and online payment option, so its average order volume is 73% higher than other payment methods. Rue21 buyers who do business with Klarna buy 6% more often and have the highest sales per customer. In May, Klarna’s purchases represented more than a quarter of street online sales21.

Logo sign outside of the rue21 retail store in Chambersburg, PA on January 25, 2019.

Kristoffer Tripplaar | Sipa via Associated Press Image

Affirm boasts that merchant customers report an 85% increase in average order value if consumers choose to use the BNPL plan over other payment methods. Affirm approves installments totaling $ 17,500. This turned out to be very important to Peloton’s expensive training equipment and services. FTP artners, an investment bank focused on the FinTech industry, estimated that 30% of Affirm’s revenue in the first quarter of 2021 came from sales on the Peloton website.

The Klarna Merchant Base reports that when buyers pay more than four times, the average order value increases by 45%. Buyers can also pay the full amount without interest for 30 days, or for large purchases, pay monthly for 6 to 36 months and increase an annual rate of 0% to 29.9%.

new customer

Attracting customers who may not have otherwise been upset by retailers is another benefit of offering the ability to buy now and pay later.

Earlier this year, Macy’s CEO Jeff Gennette told investors that the partnership with Clarna is helping to attract new customers.

“In October, we launched Klarna on the Macy’s website. [2020] Since then it has expanded to Macy’s, Bloomingdale’s and Blue Mercury, both online and in-store, ”he said. Our goal is to turn all of these new customers into loyal Macy’s customers who come back for future purchases. “

About 93% of the total value of post-payment products in the most recent fiscal year came from repeater payment services, with the oldest consumers trading more than 30 times per year.

Higher conversion

By paying in installments, retailers can [consumer’s] Chris Bentley, vice president of SS&A’s global consulting group, said he “wants to sell” and “is breaking down credit barriers.” Attractive via BNPL and ultimately attractive enough to generate conversions. This is the main goal of all digital commerce sites. “

A Similarweb analysis of the Top 100 US Fashion and Retail Sites compared 50 merchants who offer the option to buy now and pay later at checkout, and 50 merchants who don’t. On average, sites with the BNPL option had a conversion rate of 6%, while sites without the option had a conversion rate of 4%.

Afterpay said it will increase conversion rates and additional retailer sales by 20-30% compared to other payment options.

The increased revenue and conversions will also increase the transaction costs that retailers pay to fintech companies. “Mathematics speaks for itself. The extra revenue is a cost, ”Zandhuis said, as retailers pay BNPL companies an additional transaction fee 2% higher than the transaction fee charged by traditional credit card companies. Higher than. “

Afterpay and Clarna charged the merchant a 3% to 5% transaction fee, and Affirm refused to disclose the transaction fee.

This program also has an advantage over traditional reserves, where items purchased by retailers must be stored on-site while customers make payments over time. Retailers are increasingly using their stores as mini-distribution centers to process online orders. Storage space is valuable for this model.

Growth opportunities

According to FIS Worldpay, buy now and pay later is the fastest growing e-commerce payment method in the world, and digital wallet growth is the second. In 2019, the $ 60 billion BNPL market represented 2.6% of global e-commerce, excluding China.

Worldpay estimates that the use of this option will increase at a compound interest rate of 28% per annum and could reach 166 billion dollars by 2023. At this rate, it will represent approximately 5% of the electronic commerce in the world in outside of China. .

BNPL currently accounts for less than 2% of sales in North America, according to FIS WorldPay.

John Harmon, senior analyst at Coresight, recognizes the opportunity for retailers, but doesn’t see it as a panacea.

“BNPL is not seen as a magic bullet because it is a different kind of credit, despite its growing acceptance,” Harmon said.


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Federal Court Upholds Payment Provisions of CFPB’s 2017 Payday Loan Rule | Weiner Brodsky Kider PC https://uncharted3blog.com/federal-court-upholds-payment-provisions-of-cfpbs-2017-payday-loan-rule-weiner-brodsky-kider-pc/ https://uncharted3blog.com/federal-court-upholds-payment-provisions-of-cfpbs-2017-payday-loan-rule-weiner-brodsky-kider-pc/#respond Wed, 22 Sep 2021 01:26:21 +0000 https://uncharted3blog.com/federal-court-upholds-payment-provisions-of-cfpbs-2017-payday-loan-rule-weiner-brodsky-kider-pc/ The Western District of Texas U.S. District Court recently upheld the payment provisions of the 2017 CFPB rule regarding salary, vehicle title, and certain high-cost installment loans. The ruling confirmed the CFPB’s ban on certain payment practices by covered lenders that the CFPB deemed “unfair, misleading or abusive”. The payment provisions prohibit lenders from continuing […]]]>

The Western District of Texas U.S. District Court recently upheld the payment provisions of the 2017 CFPB rule regarding salary, vehicle title, and certain high-cost installment loans.

The ruling confirmed the CFPB’s ban on certain payment practices by covered lenders that the CFPB deemed “unfair, misleading or abusive”. The payment provisions prohibit lenders from continuing to attempt to withdraw payment from borrowers’ accounts after two failed attempts without obtaining re-authorization. The Payment Provisions also set limits on any new authorization obtained after two unsuccessful withdrawal attempts. WBK covered the CFPB opinion of regulatory proposal here.

The lawsuit was brought by two trade associations on behalf of some payday lenders and other relevant companies, who have challenged, among other things, the structure of the CFPB as unconstitutional, and the CFPB’s ratification of the payment provisions. and the regulatory petition as arbitrary and capricious under the Law on Administrative Procedure. In response to the arguments of the professional associations, the district court found no constitutional problem with the structure of the CFPB. The District Court further concluded that the payment arrangements were in accordance with the statutory authority of the CFPB and were not arbitrary or capricious. Finally, the district court found that the CFPB had carried out an appropriate cost-benefit analysis and observed the procedures required to promulgate the payment provisions.

Although the CFPB’s initial compliance date with the rule has passed, the district court granted the trade associations’ request for an extension of the compliance date suspension, which the district court implemented on November 6. 2018. Compliance with the rule will become mandatory on June 13, 2022.

The case is Community Financial Services Association of America, Ltd., v. Consumer Financial Protection Bureau, No.1: 18-cv-295-LY.


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First National Bank of Omaha Launches Buy Now, Pay Later Solution for Partners to Offer Flexible Point-of-Sale Financing Options https://uncharted3blog.com/first-national-bank-of-omaha-launches-buy-now-pay-later-solution-for-partners-to-offer-flexible-point-of-sale-financing-options/ https://uncharted3blog.com/first-national-bank-of-omaha-launches-buy-now-pay-later-solution-for-partners-to-offer-flexible-point-of-sale-financing-options/#respond Tue, 21 Sep 2021 13:15:00 +0000 https://uncharted3blog.com/first-national-bank-of-omaha-launches-buy-now-pay-later-solution-for-partners-to-offer-flexible-point-of-sale-financing-options/ OMAHA, Neb. & NEW YORK–(COMMERCIAL THREAD) –First National Bank of Omaha (FNBO) today announced the launch of a revolutionary new Buy Now and Pay Later (BNPL) solution, which will allow merchant partners to offer their customers the ability to make purchases and pay for them at a later date. To develop this full range of […]]]>

OMAHA, Neb. & NEW YORK–(COMMERCIAL THREAD) –First National Bank of Omaha (FNBO) today announced the launch of a revolutionary new Buy Now and Pay Later (BNPL) solution, which will allow merchant partners to offer their customers the ability to make purchases and pay for them at a later date. To develop this full range of point-of-sale financing solutions covering loans ranging from a few weeks to 10 years, FNBO worked with EXL, a leading operations management and analysis company, and Skeps, a next-generation point-of-sale (POS) loan origination platform, to create a fast and seamless integration with the online and physical stores of merchant partners.

“BNPL represents the future of retail, enabling consumers to make purchases using more accessible monthly installment payment plans,” said Jerry J. O’Flanagan, executive vice president of client partner segment at FNBO. “By working with EXL and Skeps, we were able to design a BNPL solution that quickly and seamlessly integrates into merchant partner workflows, providing consumers with a variety of convenient point-of-sale financing options through instant processing and loan approval backed by FNBO. ”

The FNBO BNPL solution is integrated directly with partner e-commerce websites and via QR codes and text for credit in partner physical locations to provide consumers with the ability to purchase items immediately through an installment payment plan. . FNBO was able to leverage the offerings of EXL and Skeps for credit strategy execution, pre-approvals, back-end technology integration with merchant partner websites, prevention of fraud and Know Your Customer (KYC) checks as well as loan service functions including digital payment assistance.

“We have combined proprietary data sources, cutting-edge analytics, our digital capabilities for loan origination and servicing, and the scale and expertise of a world-class lending institution to rapidly deliver a BNPL solution. complete, ”said Vivek Jetley, executive vice president. and Global Head of Analytics at EXL. “With the BNPL marketplace which should grow 40% + this year, we are proud to have accelerated our customers’ journey to deliver affordable payment solutions to their end consumers and look forward to continuing to expand this capability.

“This latest partnership is another example of Skeps’ power in bringing an unparalleled customer experience to credit solutions for merchant and lender customers,” said Tushar Srivastava, CEO of Skeps. “By partnering with FNBO and EXL, Skeps technology allows banks to compete with Fintech companies by offering their branded credit solutions, such as buy-now-pay-ulter or co-branded cards , directly at the point of sale. ”

For more information on the FNBO BNPL solution, visit fnbo.com/bnpl/acheter-maintenant-payer-later.html.

ABOUT OMAHA’S FIRST NATIONAL BANK

First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have over $ 24 billion in assets and nearly 5,000 associated employees. The main banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas. FNBO is also one of the leading issuers of co-branded credit cards and unsecured personal loans nationwide. FNBO was one of the first banks in the United States to issue a credit card and played a key role in crucial innovations in the credit card industry. Learn more about fnbo.com and connect with us on Facebook, Twitter and Instagram.

ABOUT EXL

EXL (NASDAQ: EXLS) is a leading operations management and analysis company that helps our clients create and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we deepen the design and management of agile, customer-centric operating models to improve global operations, increase profitability, ” improve customer satisfaction, increase data-driven insight and manage risk and compliance. . Based in New York, EXL has approximately 33,000 professionals across the United States, United Kingdom, Europe, India, Philippines, Colombia, Canada, Australia and South Africa. EXL serves clients in many industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information visit www.exlservice.com.

ABOUT SKEPS

Skeps is a modular suite of products that can be used by merchants or lenders to help identify potential credit solutions for their customers with the highest likelihood of conversion. Skeps products can be native to the customer environment and provide access to rich data that can be used to deliver highly personalized customer offerings while adhering to privacy guidelines. Skeps’ private blockchain technology enables simultaneous evaluation of multiple financing options, helping to reduce downside and improve the customer experience. The company was founded in 2018 with a head office in the United States and offices in India. Learn more about www.skeps.com.



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Cullen / Frost Bankers – Consensus indicates potential rise of 2.1% https://uncharted3blog.com/cullen-frost-bankers-consensus-indicates-potential-rise-of-2-1/ https://uncharted3blog.com/cullen-frost-bankers-consensus-indicates-potential-rise-of-2-1/#respond Tue, 21 Sep 2021 10:03:36 +0000 https://uncharted3blog.com/cullen-frost-bankers-consensus-indicates-potential-rise-of-2-1/ Cullen / Frost Bankers with ticker code (CFR) now have 12 analysts covering the stock. Analysts’ consensus points to a rating of “Underperformance”. The target price is between 144 and 96 and has an average target of 113.58. With the stock’s previous close at 111.27, this would indicate there is a potential upside of 2.1%. […]]]>

Cullen / Frost Bankers with ticker code (CFR) now have 12 analysts covering the stock. Analysts’ consensus points to a rating of “Underperformance”. The target price is between 144 and 96 and has an average target of 113.58. With the stock’s previous close at 111.27, this would indicate there is a potential upside of 2.1%. The 50-day MA is 113.47 and the 200-day moving average is 113.84. The company has a market capitalization of $ 6,961 million. For more information, visit: http://www.frostbank.com

Cullen / Frost Bankers is Frost Bank’s banking holding company that provides commercial and personal banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The Company provides commercial banking services to businesses and other commercial clients, including financing of industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventory and accounts receivable, and acquisitions; commercial leasing; and cash management services. It also provides banking services to consumers, such as chequing accounts, savings programs, automated teller machines (ABMs), overdraft facilities, home and installment loans, home equity loans and margins. credit, car and overnight deposit services, safes facilities and brokerage services. In addition, the company offers international banking services including deposits, loans, letters of credit, foreign collections, funds and foreign exchange services. In addition, he acts as a correspondent for around 176 financial institutions; provides trust, investment, agency and custody services for individuals and businesses; provides capital market services which include the sale and trading, underwriting of new issues, dealing in the money market, advice, custody and clearing of securities; and supports international business activities. In addition, the company offers insurance and securities brokerage services; holds securities for investment purposes; and provides loans to qualified borrowers, as well as investment management services to mutual funds, institutions and individuals managed by Frost. It operates around 155 financial centers and 1,200 ATMs. The company serves the energy, manufacturing, service, construction, retail, telecommunications, healthcare, military and transportation industries. Cullen / Frost Bankers was founded in 1868 and is headquartered in San Antonio, Texas.

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Self Financial raises $ 50 million to help at-risk consumers build credit and savings at the same time https://uncharted3blog.com/self-financial-raises-50-million-to-help-at-risk-consumers-build-credit-and-savings-at-the-same-time/ https://uncharted3blog.com/self-financial-raises-50-million-to-help-at-risk-consumers-build-credit-and-savings-at-the-same-time/#respond Thu, 16 Sep 2021 13:00:28 +0000 https://uncharted3blog.com/self-financial-raises-50-million-to-help-at-risk-consumers-build-credit-and-savings-at-the-same-time/ Self-funded, a fintech company that aims to help consumers create credit and save at the same time, today announced that it has raised $ 50 million in Series E financing. Altos Ventures led the funding, which also included the participation of Capital Meritech and Conducting companies and brings the Austin-based startup’s total to $ 127 […]]]>

Self-funded, a fintech company that aims to help consumers create credit and save at the same time, today announced that it has raised $ 50 million in Series E financing.

Altos Ventures led the funding, which also included the participation of Capital Meritech and Conducting companies and brings the Austin-based startup’s total to $ 127 million since its inception in 2015.

The business, like many fintechs these days, aims to make building credit and savings more accessible, regardless of a person’s financial history. It doesn’t require any credit check to get started.

“We have focused on providing high quality, low cost products that make it easier to access consumer credit,” said James Garvey, Founder and CEO of Self.

Today, Self Financial has 200 employees, up from around 80 at the start of this year. The startup, which was originally founded in California but moved to Austin after participating in the Techstars program in the city, plans to recruit more with its new capital.

Garvey declined to reveal specific revenue figures, saying only that Self will make “nine digits” in revenue this year, roughly 2 times over 2020. Self’s active customer base has more than doubled in the past 12 years. last few months to reach around 1 million today. Over time, it has served over 2 million customers.

The flagship product of fintech, he said, is basically secured installment loans, or small dollar loans with a deposit account to which a CD (certificate of deposit) is connected.

After using this product successfully, customers can then access Self Visa credit card.

Image credits: Self-financing

Self’s Credit Builder’s products are issued through its three banking partners. But the company has built its own core technology platform that Garvey says “powers everything behind the scenes.” The company’s products are available through iOS and Android, as well as through a desktop app.

Starting this month, Self will allow people wHo hold H-1B or L 1 work visa or student visa to open Credit Builder accounts, Garvey says decision “opens door for more people who are new to the credit system to participate American”.

“We believe that everyone should have the opportunity to improve their financial future,” he added.

Part of Self’s long-term goals include entering the insurance market, as well as the planned launch of another product designed to help clients access credit.

“Credit score is used for a lot of things, and in many states it’s a big factor in determining the cost of auto insurance,” he said. “We will help our clients gain access to auto insurance as one of the benefits of a higher credit score. “

The company plans to use its new capital to hire around 50 to 100 people over the next 12 months, Garvey said. Recently, she appointed Kathleen Leonik as Chief Compliance Officer. She previously held executive positions at Juniper Bank, Barclaycard and, most recently, Mercury Financial. She has also worked in compliance at First USA, Bank One and Chase.

Altos Ventures CEO Anthony Lee described Self as a trailblazer in an increasingly crowded space. This week, TomoCredit, which has the same goal of helping under-represented consumers build up a credit history, announced that it has raised $ 10 million. And last week, Varo Bank – the first American neobank to obtain a national banking charter – raised $ 510 million in an E series round table at a valuation of $ 2.5 billion.

“James and his team at Self have a clear mission from day one: to create credit and savings for millions of Americans marginalized by the mainstream financial system,” said Lee. “This is a mission that will take decades to complete and we are happy to be here for the journey.”

For Silverton Partners Managing Director Morgan Flager, who has toured Self’s Series AD, Garvey’s passion has been key to his repeated investments in the company.

When you have a founder with a clear and noble vision to solve such a massive critical problem, it’s hard to say no as an investor, ”he told TechCrunch.

The company was also drawn to Self’s mission to “elevate” consumers at risk.

“A lot of offers that target at-risk consumers are expensive and restrictive,” he said. “Self Financial is unique in that it intends to break this cycle, rather than just profiting from it in a different way.”


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2 hot stocks to buy right now https://uncharted3blog.com/2-hot-stocks-to-buy-right-now/ https://uncharted3blog.com/2-hot-stocks-to-buy-right-now/#respond Wed, 15 Sep 2021 14:30:00 +0000 https://uncharted3blog.com/2-hot-stocks-to-buy-right-now/ Hot stocks can be found in all industries and sectors, but whether or not these top-flight companies are worth the price of admission is often another story. If you are a long-term investor looking for stocks that can bring serious growth to your portfolio in the years to come and that also demonstrate resilience in […]]]>

Hot stocks can be found in all industries and sectors, but whether or not these top-flight companies are worth the price of admission is often another story. If you are a long-term investor looking for stocks that can bring serious growth to your portfolio in the years to come and that also demonstrate resilience in various market environments, keep reading.

The next two stocks are absolutely meteoric right now, but they also both feature superior companies with strong competitive advantages that generate and maintain constant demand and robust profits.

Let’s take a closer look.

Image source: Getty Images.

1. DexCom

Manufacturer of medical devices DexCom (NASDAQ: DXCM) It might not be a household name for many investors, but it should be. The company has a habit of generating notable growth in cash flow year over year, and its shares have appreciated in kind quickly. In the past six months alone, the stock has climbed about 50%. And over the past five years, it has hit an incredible 480%.

That’s because DexCom is one of a very small handful of companies with an FDA-approved continuous blood glucose monitoring (CGM) device on the market. The company’s unique and flagship product is its G6 CGM system. It is also currently working on the next-generation G7 system, which is expected to launch later this year. According to the latest statistics from Grand View Research, the global CGM device market is on track to reach over $ 10 billion by 2028.

The business is certainly not without competition. Its most notable rival is Abbott Laboratories‘FreeStyle Libre System. However, this industry is far from overcrowded and the demand is constant. DexCom has managed to carve out and retain a substantial slice of the pie and has repeatedly proven its resilience in this industry with consistent and above average earnings growth.

In its most recent quarter ended June 30, the company increased its revenue by 32% and net profit by 36% compared to the same period last year.

Despite DexCom’s rapid growth, the company continues to build up cash while keeping debt levels manageable. At the end of the second quarter, the company had $ 2.6 billion in cash, cash equivalents and marketable securities, compared to about $ 601 million in current liabilities.

Granted, the stock has had a good run lately. But if you are looking for a super charged health care stock which can bring substantial growth to your portfolio over a period of several years, DexCom is a choice that continues to hit the mark.

2. Nvidia

Semiconductor stock Nvidia (NASDAQ: NVDA) is known for its computer graphics processors used by businesses of all sizes in a wide range of industries. In fact, it’s one of the world’s leading manufacturers of these processors (known as GPUs) – ranking third with just over 15% of the global PC GPU market, according to Statista. The company has some very big names on its client list, including Microsoft and Facebook.

It’s no wonder, then, that Nvidia delivered another round of record results in its final quarter. Not only did the company’s total revenue jump 68% year-on-year, but its net profit jumped 282% from the quarter last year. Nvidia’s four divisions – automotive, professional visualization, data center and games – generated respective revenue increases of 37%, 156%, 35% and 85%.

Nvidia’s shares have gained momentum in recent months. The stock is trading about 66% more than it was just six months ago – and over the past five years, the stock has appreciated 1,300%.

Still, the stock may still have a considerable trail. Of autonomous vehicles to artificial intelligence, Nvidia’s products are an ideal solution for companies operating in both established and emerging industries. The stock may sizzle now, but there is no reason to believe that it cannot explode even higher in the years to come.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Troutman Pepper Consumer Financial Services COVID-19 Weekly Bulletin – September 2021 # 2 | Man’s pepper with trout https://uncharted3blog.com/troutman-pepper-consumer-financial-services-covid-19-weekly-bulletin-september-2021-2-mans-pepper-with-trout/ https://uncharted3blog.com/troutman-pepper-consumer-financial-services-covid-19-weekly-bulletin-september-2021-2-mans-pepper-with-trout/#respond Tue, 14 Sep 2021 15:30:39 +0000 https://uncharted3blog.com/troutman-pepper-consumer-financial-services-covid-19-weekly-bulletin-september-2021-2-mans-pepper-with-trout/ Like most industries today, consumer finance service companies are significantly affected by the novel coronavirus (COVID-19). Troutman Pepper has developed a COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading healthcare organizations, and tools businesses can use for free. […]]]>

Like most industries today, consumer finance service companies are significantly affected by the novel coronavirus (COVID-19). Troutman Pepper has developed a COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading healthcare organizations, and tools businesses can use for free.

Our banking and loan clients are also facing new challenges affecting their industry as a result of COVID-19, particularly the ever-changing rules and regulations regarding evictions and foreclosures. We are following these updates closely and have assembled an interactive tracking tool with state orders and guidance material regarding residential lockdowns and eviction moratoria. You can access this interactive tool at https://covid19.trutman.com/.

To help you stay on top of relevant activities, below is a breakdown of some of the biggest COVID-19-related events at the federal and state levels that have impacted the consumer finance services industry. last week :

Federal activities

State activities

Privacy and cybersecurity activities

Federal activities:

  • On September 9, the Federal Reserve Board published an article describing the landscape of partnerships between community banks and fintech companies. The document captures information gathered during a broad outreach with community banks, fintechs and other stakeholders. Outreach involved discussions focused on strategic and tactical decisions that support effective partnerships. For more information, click here.
  • On September 9, the Consumer Financial Protection Bureau (CFPB) released a report on signed agreements between credit card issuers and colleges, or college affiliates, finding that the college credit card market has continued. its general downward trend in 2020. The report also finds that agreements with alumni associations continued to constitute the largest part of this market, as defined by the number of agreements, number of accounts and the amounts of payments made by issuers to their counterparties. For more information, click here.
  • On September 8, the Office of the Comptroller of the Currency (OCC) proposed rescinding some updated fair lending rules as the agency begins work on drafting new rules. Under the proposal, the OCC would revert to previous regulations of 1995 for the Community Reinvestment Act (CRA), a 1977 fair loan act. For more information, click here.
  • On September 8, the Federal Trade Commission (FTC) approved final revisions that would align several rules implementing parts of the Fair Credit Reporting Act in compliance with the Dodd-Frank Act on Wall Street Reform and Consumer Protection. . For more information, click here.
  • On September 8, the CFPB published online the new Model Validation Notice (MVN) formats required under Regulation F. The newly available alternative MVN formats are expected to facilitate the integration of MVN into existing systems and the in form and other modifications authorized by the effective date of November 30 for the Reg. F. For more information, click here.
  • On September 7, the Federal Reserve, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency announced they would extend the comment period until October 18 on proposed guidance designed to help banking organizations manage risk associated with third-party relationships, including relationships with fintech-focused entities. The proposed guidelines are intended to help banking organizations identify and manage risks associated with third-party relationships and respond to industry comments calling for alignment between agencies with regard to third-party risk management guidelines. For more information, click here.
  • On September 7, CFPB took action against an ISA provider for misrepresenting its product and failing to comply with the federal consumer finance law that governs private student loans. . The ISA provider provides the students with money to fund their graduate studies, in the form of ISA, under which the students agree to pay a percentage of their income during a given period or until they reach a payment ceiling. Apparently, the ISA provider falsely stated that ISAs are not loans, failed to provide information required by federal law, and violated a prepayment penalty ban for private education loans. Under the CFPB order, the ISA provider must provide information that complies with federal consumer finance law, eliminate prepayment penalties, and stop misleading borrowers. For more information, click here.
  • On September 7, CFPB Acting Director Dave Uejio released a statement after the U.S. District Court for the Western District of Texas upheld the payment provisions of the 2017 CFPB Salary Rule, the title of the vehicle and some high cost installment loans. For more information, click here.
  • On September 3, the CFPB issued guidance on student loan management contracts to borrowers responsible for pending federal student loan payments for more than a year and when certain service contracts end. For more information, click here.

State activities:

  • On September 9, the Virginia State Corporation Commission passed regulations implementing laws that protect borrowers by regulating student loan services in Virginia. According to a Virginia attorney general Press release, the legislature passed “Chapter 26 of Title 6.2 of the Virginia Code and tasked the CSC to issue regulations implementing Chapter 26. Chapter 26 protects student borrowers from service providers who, among others, engage in unfair or deceptive conduct, misapply loan payments, or misinform credit reporting agencies. The law also authorizes the attorney general of Virginia to prosecute. For more information, click here.
  • On September 10, Texas Attorney General Ken Paxton announced the filing of six lawsuits against school districts allegedly “challenging Governor Abbott’s Executive Order GA-38 regarding mask warrants.” According to the GA, Order GA-38 places the governor in charge of the statewide response to the COVID-19 pandemic. For more information, click here.
  • On September 10, Washington, DC Attorney General Karl Racine announced that his office “is partnering with local nonprofits to sponsor three additional STAY DC clinics in person to help residents navigate the application process so they can get help paying their rent and utility bills. , as many have struggled financially during the COVID-19 pandemic. According to the press release, “STAY DC is a financial assistance program for tenants and district housing providers who are seeking support to cover housing and utility expenses and to compensate for lost income. The program aims to help families settle their debts, pay homeowners what is owed to them and ultimately avert a crisis when the district’s moratorium on eviction proceedings expires later this year. For more information, click here.

Privacy and cybersecurity activities:

  • On September 10, the FTC issued an advisory reminding individuals that there is still COVID-19 help available through the federal government and likely through state and local governments. While some people may receive benefits automatically, others may need to apply. For those applying for COVID-19 benefits, the FTC reminds individuals that the government will “not ask you to pay anything for financial assistance related to COVID.”[;]“Anyone who requests payment and financial or personal information is at risk of a scam. For those who wish to read the full alert, click on here.
  • Earlier in September, a court-appointed special master dealing with discovery disputes related to a lawsuit in which grocery shoppers claim they can’t wear face coverings due to a health problem, recommended that the defendants, if they wish, should “conduct a more in-depth search of all or part of the plaintiffs’ text messages, Facebook accounts and private emails” to acquire a more in-depth digital record. Access to complainants’ Facebook accounts includes access to their personal messages, which involves the privacy of complainants. Grocery store customers argued that the grocery store policy prohibiting shoppers from entering the store without a mask violated their rights under the American’s with Disabilities Act. To read the full notice, click here.


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Santander Consumer USA (NYSE: SC) Moves to Strong Buy at Zacks Investment Research https://uncharted3blog.com/santander-consumer-usa-nyse-sc-moves-to-strong-buy-at-zacks-investment-research/ https://uncharted3blog.com/santander-consumer-usa-nyse-sc-moves-to-strong-buy-at-zacks-investment-research/#respond Tue, 14 Sep 2021 10:39:18 +0000 https://uncharted3blog.com/santander-consumer-usa-nyse-sc-moves-to-strong-buy-at-zacks-investment-research/ Santander Consumer USA (NYSE: SC) has been improved by Zacks investment research from a “keep” note to a “strong buy” note in a research note issued to investors on Tuesday, Zacks.com reports. The company currently has a target price of $ 48.00 on shares of the financial services provider. Zacks investment researchThe price target for […]]]>

Santander Consumer USA (NYSE: SC) has been improved by Zacks investment research from a “keep” note to a “strong buy” note in a research note issued to investors on Tuesday, Zacks.com reports. The company currently has a target price of $ 48.00 on shares of the financial services provider. Zacks investment researchThe price target for s would suggest a potential rise of 15.63% from the stock’s previous close.

According to Zacks, “Santander Consumer USA Holdings Inc. is a technology-driven consumer finance company focused on vehicle finance and unsecured consumer loan products. The Company’s vehicle finance products and services include consumer vehicle loans, vehicle leases and auto dealer loans. Santander Consumer USA Holdings Inc. is headquartered in Dallas, Texas. “

Other equity research analysts have also published reports on the stock. Stephens raised his price target for Santander Consumer USA shares from $ 40.00 to $ 41.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 29. BMO Capital Markets lowered its price target on Santander Consumer USA shares from $ 48.00 to $ 41.50 and established a “market performance” rating on the stock in a research note on Wednesday 25 August. Deutsche Bank Aktiengesellschaft downgraded Santander Consumer USA shares from a “buy” rating to a “keep” rating and raised its share price target from $ 39.00 to $ 41.00 in a research note on Thursday, July 29. Barclays raised its price target for Santander Consumer USA shares from $ 32.00 to $ 39.00 and gave the company an “equal weight” rating in a research note on Friday, July 9. Finally, Morgan Stanley raised its price target for Santander Consumer USA shares from $ 39.00 to $ 41.50 and gave the company an “equal weight” rating in a Friday September 3 research note. One equity research analyst gave the stock a sell rating, nine assigned a conservation rating, two assigned a buy rating, and one gave the company a high buy rating. According to MarketBeat data, the stock currently has an average rating of “Hold” and an average price target of $ 37.65.

(A d)

No, it’s not investing in electric vehicle manufacturers. But some investors are already seeing a 400% return on this unusual investment …

Santander Consumer USA shares open for $ 41.51 Tuesday. The stock has a market cap of $ 12.71 billion, a P / E ratio of 4.54, a price / earnings-growth ratio of 0.25, and a beta of 1.11. The company has a fifty-day simple moving average of $ 41.17 and a 200-day simple moving average of $ 35.58. Santander Consumer USA has a 12-month low of $ 16.03 and a 12-month high of $ 42.39. The company has a current ratio of 45.46, a rapid ratio of 45.46 and a debt ratio of 5.28.

Santander Consumer USA (NYSE: SC) last released its quarterly results on Wednesday, July 28. The financial services provider reported earnings per share (EPS) of $ 3.45 for the quarter, beating the consensus estimate of $ 1.92 by Thomson Reuters by $ 1.53. The company posted revenue of $ 1.94 billion in the quarter, compared to analysts’ expectations of $ 1.99 billion. Santander Consumer USA had a net margin of 34.85% and a return on equity of 46.51%. As a group, sell-side analysts predict that Santander Consumer USA will post 8.54 earnings per share for the current fiscal year.

Institutional investors have recently changed their holdings in the company. Denali Advisors LLC increased its holdings in Santander Consumer USA by 24.8% in the second quarter. Denali Advisors LLC now owns 1,509 shares of the financial services provider valued at $ 55,000 after purchasing an additional 300 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Santander Consumer USA by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,498 shares of the financial services provider valued at $ 1,177,000 after purchasing an additional 406 shares in the last quarter. PDT Partners LLC increased its stake in Santander Consumer USA by 0.6% during the second quarter. PDT Partners LLC now owns 123,339 shares of the financial services provider valued at $ 4,480,000 after purchasing an additional 714 shares in the last quarter. Bank of America Corp DE increased its holdings in Santander Consumer USA by 0.4% in the second quarter. Bank of America Corp DE now owns 196,046 shares of the financial services provider valued at $ 7,120,000 after purchasing an additional 724 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Santander Consumer USA during the second quarter for a value of approximately $ 29,000. Institutional investors and hedge funds hold 99.56% of the company’s shares.

Santander Consumer USA Company Profile

Santander Consumer USA Holdings, Inc provides consumer finance services. It offers retail contracts, vehicle leases, dealer loans, financial products and services related to motorcycles, automobiles and marine vehicles. The company was founded in July 2013 and is headquartered in Dallas, Texas.

See also: When Can a Hold Note Present a Buying Opportunity?

Get a free copy of Zacks’ research report on Santander Consumer USA (SC)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Analyst Recommendations for Santander Consumer USA (NYSE: SC)

This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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$ 10,000 HAVEN Grant Helps Arkansas Army Veteran Fix His Home https://uncharted3blog.com/10000-haven-grant-helps-arkansas-army-veteran-fix-his-home/ https://uncharted3blog.com/10000-haven-grant-helps-arkansas-army-veteran-fix-his-home/#respond Thu, 09 Sep 2021 18:52:00 +0000 https://uncharted3blog.com/10000-haven-grant-helps-arkansas-army-veteran-fix-his-home/ BEARDEN, Arche .– (COMMERCIAL THREAD) – U.S. Army Reserve veteran Jeffery Darrough, who has toured Iraq and Kuwait, recently received a $ 10,000 Veterans Housing Assistance (HAVEN) grant to conduct repairs to his Arkansas home. At the age of 17, Staff Sgt. Darrough decided to join the Army Reserve on a last-minute whim. “Ironically, I […]]]>

BEARDEN, Arche .– (COMMERCIAL THREAD) – U.S. Army Reserve veteran Jeffery Darrough, who has toured Iraq and Kuwait, recently received a $ 10,000 Veterans Housing Assistance (HAVEN) grant to conduct repairs to his Arkansas home.

At the age of 17, Staff Sgt. Darrough decided to join the Army Reserve on a last-minute whim.

“Ironically, I went to support a friend who was joining the military, and the rest of my friends and I ended up taking the required test as well. We were all successful except for the friend who really wanted to sign up, ”says Master Sgt. Darrough.

It didn’t take much conviction for Staff Sgt. Darrough to join the military after that. He spent 26 years in the military, including six years of active service. While on duty, he helped move supplies from Kuwait to Iraq.

Now 54, Master Sergeant Darrough suffers from post-traumatic stress disorder and memory loss, which has made it difficult for him to re-acclimatize to civilian life. He and his wife bought an older house that needed major and expensive renovations. It was then that he discovered the HAVEN stock exchange, offered by the Federal Home Loan Bank of Dallas (FHLB Dallas).

Staff Sergeant Darrough contacted FBT Bank and Mortgage to apply for and receive the grant. HAVEN funds, which are awarded through participating FHLB Dallas members such as FBT Bank and Mortgage, help with necessary modifications to the homes of U.S. veterans and active duty, Reserve or National Guard members who are became disabled as a result of military service after September 11. , 2001. Funds may also be awarded to Gold Star families, who have lost a loved one during this time.

Staff Sergeant Darrough’s grant covered the installation of vinyl plank floors throughout the house, new toilets and new plumbing.

“This was the first time we had helped the program and it was a simple decision to join,” said Daniel Pledger, assistant vice president of FBT banking and mortgages. “Helping local veterans and their families through HAVEN is a big part of being a community bank. I think the HAVEN program is exceptional, and we plan to help other veterans apply for the grant.

Staff Sergeant Darrough said it would have taken longer to complete the renovations without the grant.

“If I hadn’t received the grant, I probably would have had to postpone the repairs I needed. There’s no way I could have done it all at the same time, ”he said. “The HAVEN program allayed my worries and it was a huge blessing. ”

Greg Hettrick, senior vice president and director of community investment at FHLB Dallas, says HAVEN is a unique program because it provides important services to those who have served in the military.

“HAVEN is a prime example of the mission of FHLB Dallas and its members, such as FBT Bank and Mortgage, to provide services that support the community in compelling ways,” said Mr. Hettrick. “We consider it a privilege to partner with FBT Bank and Mortgage to fund these necessary home improvements for Master Sgt. Darrough.”

About FBT Bank and Mortgage

FBT Bank and Mortgage is a full-service bank established in 1931. Today with five locations, FBT Bank and Mortgage focuses on the communities it serves, delivering cutting-edge products and services while providing personalized attention to customers. clients. To find out more, visit fbtbank.com.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $ 58.6 billion as of June 30, 2021, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.


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Alert: District Judge Sides With CFPB, Maintains Payday Rule Payment Arrangements | Cooley LLP https://uncharted3blog.com/alert-district-judge-sides-with-cfpb-maintains-payday-rule-payment-arrangements-cooley-llp/ https://uncharted3blog.com/alert-district-judge-sides-with-cfpb-maintains-payday-rule-payment-arrangements-cooley-llp/#respond Thu, 09 Sep 2021 15:33:04 +0000 https://uncharted3blog.com/alert-district-judge-sides-with-cfpb-maintains-payday-rule-payment-arrangements-cooley-llp/ On August 31, 2021, a Texas federal district court judge granted summary judgment to the Consumer Financial Protection Bureau in a lawsuit brought by two industry trade associations, ultimately upholding CFPB’s “payment arrangements” Payday rule, vehicle title rule, and some high cost installment loans (CFPB Payday Rule) first published in November 2017. As explained in […]]]>

On August 31, 2021, a Texas federal district court judge granted summary judgment to the Consumer Financial Protection Bureau in a lawsuit brought by two industry trade associations, ultimately upholding CFPB’s “payment arrangements” Payday rule, vehicle title rule, and some high cost installment loans (CFPB Payday Rule) first published in November 2017.

As explained in a previous customer alert Spanning the three-year history of the lawsuit, business groups have sought to prevent the implementation of the payment provisions of the CFPB’s payday rule. The groups argued that such provisions were illegal because the ratification of the CFPB payday rule by the CFPB director was inadequate and the provisions fell outside the legal authority of the CFPB. The judge dismissed all challenges from the professional associations, noting that the payment arrangements were not void ab initio and that a constitutionally appointed director duly ratified the provisions. The court also rejected the associations’ argument that the CFPB had wrongly determined that the payment practices covered by the provisions were unfair and / or abusive. The tribunal agreed that the CFPB should only consider the material aspects of the problem for its cost-benefit analysis of the provisions to be accepted.

Further, the court rejected the associations’ argument that the CFPB unreasonably rejected a request for regulation to exclude debit card payments from payment arrangements, concluding that the CFPB only needed a basis rational to reject such an exception. Finally, the court rejected the associations’ attempt to argue that the structure of the CFPB was otherwise unconstitutional under the appropriations clause.

The judge rejected the CFPB’s request to lift the suspension of compliance within 30 days of the entry of the judgment and granted the lenders an extended compliance period of “286 days after the final judgment” or June 2022, giving lenders more time to prepare for the CFPB. Implementation of the troubleshooting rule.

In light of these developments, lenders are expected to start familiarizing themselves with the payment provisions of the CFPB Payday Rule to prepare for compliance by June 2022.

[View source.]


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