Texas Loans – Uncharted 3 Blog http://uncharted3blog.com/ Sat, 25 Sep 2021 08:03:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://uncharted3blog.com/wp-content/uploads/2021/05/default.png Texas Loans – Uncharted 3 Blog http://uncharted3blog.com/ 32 32 States with the most mortgage debt – 24/7 Wall St. https://uncharted3blog.com/states-with-the-most-mortgage-debt-24-7-wall-st/ https://uncharted3blog.com/states-with-the-most-mortgage-debt-24-7-wall-st/#respond Fri, 24 Sep 2021 18:00:59 +0000 https://uncharted3blog.com/states-with-the-most-mortgage-debt-24-7-wall-st/ Special report September 24, 2021 2:00 p.m. The COVID-19 pandemic has fueled an increase in demand among homebuyers who only now starts at show to signns of slowing down. This historic demand has coincided with low borrowing costs, a limited housing stock and labor and material bottlenecks that have hampered new construction. These factors have […]]]>

Special report

The COVID-19 pandemic has fueled an increase in demand among homebuyers who only now starts at show to signns of slowing down. This historic demand has coincided with low borrowing costs, a limited housing stock and labor and material bottlenecks that have hampered new construction. These factors have pushed home values ​​to all-time highs, forcing many buyers to take out mortgages that put them in heavy debt.

According to a recent report from Experian, a consumer credit reporting company, US homeowners with mortgages had an average outstanding balance of $ 229,242 in 2020. Mortgage debt can be affected by several regional factors and, hence, the amount of debt. reimburse varies widely from state to state.

Using data from Experian Credit Report 2020, 24/7 Wall St. identified the states with the highest average mortgage debt. States are ranked according to the average debt of homeowners with a mortgage.

All other things being equal, average mortgage debt is affected the most by real estate values. Overwhelmingly, in states where the median home value is below the national median of $ 240,500, the average mortgage debt is also below the national average. Likewise, in states where home values ​​are above the national median, mortgage debt also tends to be above average. Here’s a look at the states where people struggle with the most debt..

High real estate values ​​also increase the likelihood that homebuyers will need to take out a mortgage in the first place. In nine of the 10 states with the highest median home value, the share of homeowners with a mortgage exceeds the share of 61.7% nationally. Here’s a look at the average cost of a home in each state..

Depending on the state, the average debt ranges from as little as $ 128,000 to almost $ 400,000.

Click here to see the states with the most mortgage debt
Click here to read our detailed methodology


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Kentucky Bars Crypto Firm Celsius https://uncharted3blog.com/kentucky-bars-crypto-firm-celsius/ https://uncharted3blog.com/kentucky-bars-crypto-firm-celsius/#respond Fri, 24 Sep 2021 15:53:01 +0000 https://uncharted3blog.com/kentucky-bars-crypto-firm-celsius/ Citing ‘unprecedented risk to consumers’, state of Kentucky blocked crypto lender Celsius to offer its residents paid accounts. As Bloomberg reported on Friday, September 24, Kentucky’s decision puts it in the company of three other states that took similar action last week. In this case, the order came from the Kentucky Department of Financial Institutions, […]]]>

Citing ‘unprecedented risk to consumers’, state of Kentucky blocked crypto lender Celsius to offer its residents paid accounts.

As Bloomberg reported on Friday, September 24, Kentucky’s decision puts it in the company of three other states that took similar action last week.

In this case, the order came from the Kentucky Department of Financial Institutions, which said Celsius was breaking state law by offering its clients unregistered securities. Additionally, the company did not do enough to disclose to consumers what Celsius was doing with their deposits.

The ministry’s emergency ordinance called the accounts “an unregulated market that poses unprecedented risk to consumers.” Celsius can request an emergency hearing to challenge the department’s order or take it to court.

A spokesperson for Celsius told Bloomberg the company is “” disappointed that these shares have been filed “and disputes the allegations. They said the company plans to deal with the issue quickly and customers should not see any changes. in services.

Texas, New Jersey and Alabama have also taken similar action against Celsius. The lender says it has tens of billions of dollars in deposits in interest accounts that can earn double-digit returns.

The Kentucky Order comes at a time when these types of accounts have started to come under more scrutiny from regulators.

Read more: Coinbase Kills Loan Product Amid SEC Ire

Earlier this week, Coinbase announced that it was shutting down its proposed loan product, Coinbase Lend, over fears of a possible Securities and Exchange Commission lawsuit. Coinbase Lend reportedly allowed customers to lend their USDC holdings and receive 4% interest risk-free on the principal.

“Our goal is to create great products for our customers and to further our mission of increasing economic freedom around the world,” Coinbase said in a blog post. “As we continue our work to seek regulatory clarity for the crypto industry as a whole, we have made the difficult decision not to launch the USDC APY program.”

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASE JOURNEY – SEPTEMBER 2021

On: Eighty percent of consumers want to use non-traditional payment options like self-service, but only 35 percent were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a PYMNTS and Toshiba Collaboration, analyzes more than 2,500 responses to find out how merchants can address availability and perception issues to meet demand for self-service kiosks.


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FIX and REPLACE Elevate Credit eclipses $ 500 million in combined loans receivable https://uncharted3blog.com/fix-and-replace-elevate-credit-eclipses-500-million-in-combined-loans-receivable/ https://uncharted3blog.com/fix-and-replace-elevate-credit-eclipses-500-million-in-combined-loans-receivable/#respond Thu, 23 Sep 2021 21:48:00 +0000 https://uncharted3blog.com/fix-and-replace-elevate-credit-eclipses-500-million-in-combined-loans-receivable/ FORT WORTH, Texas – (COMMERCIAL THREAD) – The title of the release should read: Elevate Credit eclipses $ 500 million in combined loans (instead of Elevate Credit eclipses $ 500 million in combined loans at 25%). The post’s caption should read: 25% increase from end of 2sd Quarter (instead of the increase from the end […]]]>

FORT WORTH, Texas – (COMMERCIAL THREAD) – The title of the release should read: Elevate Credit eclipses $ 500 million in combined loans (instead of Elevate Credit eclipses $ 500 million in combined loans at 25%).

The post’s caption should read: 25% increase from end of 2sd Quarter (instead of the increase from the end of the 2nd quarter).

The updated version reads as follows:

ELEVATE CREDIT ECLIPSE 500 MILLION DOLLARS IN COMBINED LOANS RECEIVABLE

25% increase from the end of the 2ndsd Trimester

Elevate Credit, Inc. (NYSE: ELVT) (“Elevate” or the “Company”), a leading technology provider of innovative and responsible online lending solutions for unprivileged consumers, today announced that combined loans – principal arrears recently exceeded $ 500 million.

Chief Executive Officer Jason Harvison said, “We, and the banks we back, are proud to have eclipsed half a billion in outstanding loans during the peak of the summer demand season in 2021. Consumer credit has recovered faster and stronger than initially expected. and we now expect the combined loan receivable and principal balances to end in 2021 in the range of $ 545 million to $ 575 million compared to our previous outlook of $ 475 million to $ 500 million. ”

“Elevate continues to build momentum and execute our strategic growth initiatives. Our new Blueprint platform has enabled strong growth for all three products. The three-tier marketing plan we developed earlier this year to re-engage alumni Partner channel expansion has proven to be very successful in 2021, and we’re excited to continue to reach underprivileged Americans who aren’t. not sufficiently served by traditional banks, ”continued Mr. Harvison.

Chad Bradford, Acting CFO, added: “During the peak credit demand season this spring and last summer, we were delighted to increase the volume of loans within our business unit. targeted. While this growth has increased the initial costs associated with origination, such as provisioning, we expect to meet our performance targets on significantly scaled volumes. We plan to provide an update of our financial outlook for the year 2021 on therd November quarter results conference call. ”

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements contain words such as “may”, “will”, “could”, “expect”, “believe”, “anticipate”, “could”, “could”, “estimate”, “continue”, “Pursue”, or the negative thereof or comparable terminology, and may include (without limitation) information regarding the expectations, goals or intentions of the Company regarding future performance. These statements may include words such as “anticipate”, “estimate”, “expect”, “plan”, “plan”, “intend”, “believe”, “can”, “will”, “Should”, “likely” and other words and terms with similar meanings. Forward-looking statements include statements regarding: our expectations for future financial performance, including our outlook for the full year 2021; our potential for long-term earnings growth; and our expectation of continued high earnings through 2021. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in such statement. These risks and uncertainties include, but are not limited to: the effect of the COVID-19 pandemic and various policies implemented to prevent its spread on the business, financial condition and results of operations of the Company; the Company’s limited operating history in an evolving industry; the Company’s ability to increase its revenues and maintain or achieve consistent profitability in the future; new laws and regulations in the consumer lending industry in many jurisdictions that could restrict the consumer lending products and services offered by the Company, impose additional compliance costs on the Company, make the current operations of the Company unprofitable or even prohibit the current operations of the Company; scrutiny by regulators and payment processors of certain online lenders’ access to the automated clearinghouse system to disburse and collect loan proceeds and repayments; a lack of sufficient debt financing at acceptable prices or disruption in credit markets; the impact of competition in our industry and the innovation of our competitors; our ability to prevent security breaches, downtime and comparable events that could compromise personal and confidential information held in our data systems, reduce the attractiveness of our platform or negatively impact our ability to honor loans; and other litigation, compliance and regulatory risks. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of the Company’s most recent annual report on Form 10-K, as well as in other current reports. and Company periodicals deposited from time to time with the latter. All forward-looking statements contained in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statements.

About the elevation

Elevate (NYSE: ELVT), working with the banks that license its marketing and technology services, has to date granted $ 9.2 billion in unprivileged credit to more than 2.6 million non-privileged consumers. privileged customers and has saved its clients over $ 8.5 billion over the cost of payday loans. Its responsible and technological online lending solutions provide immediate relief to today’s customers and help them build a brighter financial future. The company is committed to rewarding borrowers for good financial behavior with features like interest rates that may drop over time, free financial education, and free credit monitoring. Elevate’s suite of revolutionary credit products include RISE, Elastic and Today Card. For more information, please visit http://corporate.elevate.com.


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Ant Group shares consumer credit data with China’s central bank https://uncharted3blog.com/ant-group-shares-consumer-credit-data-with-chinas-central-bank/ https://uncharted3blog.com/ant-group-shares-consumer-credit-data-with-chinas-central-bank/#respond Thu, 23 Sep 2021 05:14:34 +0000 https://uncharted3blog.com/ant-group-shares-consumer-credit-data-with-chinas-central-bank/ Guangzhou, China – Ant Group will share credit data from its consumer lending business with China’s central bank as part of a fintech giants overhaul. Huabei is a consumer loan product from the Ant Group. Ant said in a statement on Wednesday that data for the loaned product would be sent to the Financial Credit […]]]>

Guangzhou, China – Ant Group will share credit data from its consumer lending business with China’s central bank as part of a fintech giants overhaul.

Huabei is a consumer loan product from the Ant Group. Ant said in a statement on Wednesday that data for the loaned product would be sent to the Financial Credit Information Database held by the People’s Bank of China (PBOC).

Information such as account opening date, credit line amount and repayment status will be provided to the central bank. The user must approve it. Specific information such as time of purchase and details of the product purchased will not be transmitted to PBOC.

Managed by Alibaba’s founding billionaire Jack Ma, Ant Group halted its initial public offering in November due to regulatory concerns.

Ant’s lending business operated on a model that paired borrowers with lenders such as banks, but Ant did not accept these loans. Instead, the banks take most of the risk.

This worried regulator believed companies like Ant behaved like financial institutions, but weren’t regulated like them.

Chinese regulators have ordered the reorganization of the Ant group. In June, the company was given the green light to run a consumer credit business with outside shareholders. The company is home to the Huabei and Jiebei loan products and is known as the Chongqing Ant Consumer Finance Co. Ant must take out some of these loans.

Ant Group is currently in the process of becoming a financial holding company overseen by the PBOC and other regulatory bodies.

The Ant Group logo is printed on October 29, 2020 at Alibaba’s subsidiary headquarters in Hangzhou, Zhejiang, China.

Song of the Allies | Reuters

Data sharing requirements with the PBOC will help Ant Group align with other financial institutions in the lending industry who need to do the same.

According to Ant Group, some users may already look for records related to Huabei in the central bank’s credit reports.

The company is trying to allay fears that sharing Huabei users’ credit data will affect their ability to get future loans.

“A complete and appropriate set of credit records will allow financial institutions to better understand the creditworthiness of their users and to provide better services,” Ant Group said in a statement.

In my opinion, this means that Ant intends to continue operating, but within the framework and rules of the regulations.

“Therefore, under general circumstances, the normal use and timely repayment of Huabei will not affect the use of other financial services, such as loan applications.”

Kevin Kwek, managing director and senior analyst at Bernstein, said the credit data sharing deal with the central bank would remove “significant” regulatory uncertainties over AntGroup.

“Of course, sharing data undermines Ant’s advantage, but it gives us regulatory blessings, such as getting a consumer credit license,” Kwek told CNBC.

“In my opinion, this is meant to allow Ant to continue in business, but within the framework of regulations and rules, if it serves the larger agenda of the consumer credit bureau. It is important to note that Ant remains very dominant. Large distributors with a user base in mind, although some data needs to be shared. “


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Liberal arts doctorate leaves borrowers with nearly $ 200,000 in student loan debt on $ 40,000 salary, study finds https://uncharted3blog.com/liberal-arts-doctorate-leaves-borrowers-with-nearly-200000-in-student-loan-debt-on-40000-salary-study-finds/ https://uncharted3blog.com/liberal-arts-doctorate-leaves-borrowers-with-nearly-200000-in-student-loan-debt-on-40000-salary-study-finds/#respond Wed, 22 Sep 2021 19:42:57 +0000 https://uncharted3blog.com/liberal-arts-doctorate-leaves-borrowers-with-nearly-200000-in-student-loan-debt-on-40000-salary-study-finds/ A post-secondary degree can leave borrowers with a six-figure student loan balance, but it’s important to remember that federal student aid is not “free money.” Read on to learn more about average student loan debt and how you can pay it off. (iStock) Future engineers, doctors, and lawyers must earn advanced post-secondary degrees that can […]]]>

A post-secondary degree can leave borrowers with a six-figure student loan balance, but it’s important to remember that federal student aid is not “free money.” Read on to learn more about average student loan debt and how you can pay it off. (iStock)

Future engineers, doctors, and lawyers must earn advanced post-secondary degrees that can cost hundreds of thousands of dollars. While taking out a student loan can pay off in the form of higher income, this is not always the case.

A liberal arts doctorate has the lowest earning potential, according to a new study by Dr. Andrew Gillen, an economist at the Texas Public Policy Foundation. These graduates are responsible for paying almost $ 200,000 in student loan debt with a salary of only $ 40,000.

Dr. Gillen compiled data from the Department of Education to estimate the amount of federal graduate student debt accumulated based on their field of study. Unsurprisingly, some of the largest debt balances were with post-secondary graduates in medical fields like dentistry ($ 138,857), medicine ($ 179,553).) and optometry ($ 178,870).

But among the study programs that almost guarantee a well-paying career, there are some other graduate degrees that come at a surprisingly high price point: alternative medicine ($ 230,103), dispute resolution ($ 135,844).) and the liberal arts ($ 199,115), for example.

What I think is really a huge and shameful thing that higher education has been doing to students for years, is selling everyone the idea that university is a golden ticket to the middle class.

– Dr Andrew Gillen, Texas Public Policy Foundation

BIDEN ADMINISTRATION PROBLEMS “FINAL EXTENSION” OF STUDENT LOAN ABSENT PERIOD

While a college degree can open doors to more advanced fields, it’s important for students to understand the implications of a high amount of student loan debt. Taking on six-figure debt for a degree in a relatively low-paying field can be “disastrous” for graduates, Dr. Gillen added.

If you’re struggling to pay off high college debt, consider your student loan repayment options, such as private student loan refinancing. You can compare student loan refinance rates without impacting your credit score on Credible.

THE DEPARTMENT OF EDUCATION LAUNCHES AN INVESTIGATION TO REPAIR THE PSLF PROGRAM

What is the average debt of a student loan?

The average student loan debt per borrower depends on the type of degree they have. The average amount of debt that students incur to obtain a bachelor’s degree is $ 23,000, compared to $ 144,000 for a professional degree.

The overall cost of student debt also depends on the academic field. The most expensive program of study is a doctorate in pharmaceutical sciences, leaving graduates with a federal student loan debt worth $ 271,378. This career path is more likely to pay off, however, with a median salary of $ 119,806.

In contrast, a master’s degree in accounting leaves students with a student loan debt worth $ 28,341 on a salary of $ 60,311. A bachelor’s degree in computer science costs just $ 17,052 but pays off quickly with a median salary of $ 69,338.

BIDEN ADMINISTRATION RELEASES ANOTHER $ 5.8B STUDENT LOAN DEBT

Dr Gillen said one of the most important lessons from the study is the high number of debts borrowers owe to earn graduate degrees.

“At the undergraduate level, we have limits on how many students students can take out, but what they have done is largely a limitation of over-indebtedness at the undergraduate level,” he said. declared. “At the level of higher education, over-indebtedness is really worrying.

Federal student loan limits for undergraduates are $ 31,000 for dependent students and $ 57,500 for independent students. But PLUS loans for graduate students don’t have the same borrowing limits, which makes it easier to get overindebted when earning a post-secondary degree. Additionally, PLUS loans have the highest interest rate of any federal loan, at 6.28%.

WHAT TO DO IF YOUR STUDENT LOAN DEPARTMENT CLOSES

How To Reduce Student Loan Debt

Student loan expenses can be a costly burden on your budget, preventing you from taking financial steps such as saving for retirement and buying a home. But there are ways to pay off your student loan debt faster, and even save money while doing it. Here are some moves to consider.

TUITION FEES HAVE INCREASED BY 33% SINCE 2000: HOW TO DEAL WITH COTS GROWTH

Refinance when interest rates are low

Refinancing a student loan is when you take out a new student loan with better terms to pay off your current loans. Qualifying for a lower interest rate on student loans can help you lower your monthly payments, get out of debt faster, and save money over the life of the loan.

With student loan refinancing rates nearing all-time low, now is the time to refinance your student loan debt. Well-qualified borrowers who refinanced to a shorter loan term using Credible have been able to pay off their debts years faster and save nearly $ 17,000 over time.

If you have federal student loans, keep in mind that refinancing with a private lender means you will lose federal benefits such as COVID-19 deferral, income-based repayment plans., and student loan exemption programs.

You can read more about refinancing student loans and compare interest rates on Credible.

FAFSA APPLICATIONS FOR THE 2022-23 SCHOOL YEAR OPEN SOON

Sign up for automatic payments

Setting up direct deposit on your student loans ensures that you never miss a payment, but there is an added benefit to signing up for automatic payments. Many lenders offer an automatic payment discount in the form of a lower interest rate, which can help you save even more money while you pay off your debt.

98% OF REJECTS FOR WAIVER OF PUBLIC SERVICE LOAN REFUSED

Pay more than the minimum to reduce interest charges

Paying off your student loan is the minimum amount you owe, but you may be able to save thousands of dollars and pay off debt faster if you can afford to make more than the minimum payment. Use Credible’s student loan repayment calculator to see how faster repayment of your loans can save you money over the life of the loan.

AVOID THESE STUDENT LOAN MISTAKES BY LIVING OFF CAMPUS

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert column.


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ACE Cash Express Feeds North Texans By Donating Over $ 5,000 To North Texas Food Bank | Texas https://uncharted3blog.com/ace-cash-express-feeds-north-texans-by-donating-over-5000-to-north-texas-food-bank-texas/ https://uncharted3blog.com/ace-cash-express-feeds-north-texans-by-donating-over-5000-to-north-texas-food-bank-texas/#respond Tue, 21 Sep 2021 16:05:00 +0000 https://uncharted3blog.com/ace-cash-express-feeds-north-texans-by-donating-over-5000-to-north-texas-food-bank-texas/ DALLAS, September 21, 2021 / PRNewswire / – ACE Cash Express (ACE), a brand of Populus Financial Group, raised $ 5,475 for the North Texas Food Bank (NTFB) at ACE’s annual fundraising event, the Give A Little campaign. This donation provided 16,425 nutritious meals to North Texans. Since the start of the COVID-19 pandemic, the […]]]>

DALLAS, September 21, 2021 / PRNewswire / – ACE Cash Express (ACE), a brand of Populus Financial Group, raised $ 5,475 for the North Texas Food Bank (NTFB) at ACE’s annual fundraising event, the Give A Little campaign. This donation provided 16,425 nutritious meals to North Texans.

Since the start of the COVID-19 pandemic, the NTFB team have worked tirelessly to provide healthy food to neighbors in need. Texas leads the country for the highest projected number of people (no rate) at risk of food insecurity in 2021 with 4.8 million total and 1.7 million children, new projections show by Feeding America. Thanks to the support of a generous community, NTFB was able to double its food production to help feed its community. However, thousands of people continue to go hungry in 2021 despite the historic response of the North Texas Food Bank and their partners to the unprecedented health and economic crisis caused by COVID-19.

“Due to the COVID-19 pandemic, 1 in 6 people North Texas risk of going hungry, “said Trisha cunningham, President and CEO of North Texas Food Bank. “We are proud to work with Populus Financial Group to achieve our common goals of addressing the root causes of hunger.”

The Give A Little campaign is a national in-store fundraiser that supports the charities chosen by ACE employees. The selected charities are those dedicated to helping children, supporting education and promoting financial literacy. By supporting the North Texas Food Bank, ACE can help provide nutritious meals to hungry people in North Texas.

“We are proud to support the North Texas Food Bank,” said Eric norrington, Senior Vice President of Public Affairs for Populus Financial Group. “Thanks to the generosity of our customers and employees, we are able to help support the communities where we live and work.”

Nationally, the Give A Little 2021 campaign raised more than $ 188,000 for local chapters of charities across the country including AdoptAClassroom.org, Alex’s Lemonade Stand Foundation, Autism Speaks, Back on My Feet, Big Brothers Big Sisters, Boys & Girls Clubs of America, Feeding America’s Local Food Banks, Homes For Our Troops, Humanitarian Society of United States, National Breast Cancer Foundation, Save the Children, and Triumph Over Kid Cancer. This fundraiser is part of the ACE Community Fund, ACE’s charitable giving program, which has donated over $ 15 million since its inception in 2004 to organizations in the communities where ACE operates.

About the Populus Financial Group

Populus Financial Group™ provides financial services through its family of brands, including ACE Cash Express®, ACE Elite® Visa® Prepaid debit card, ACE Flare® Account by MetaBank® and Door™. Populus Financial Group offers a wide range of financial products and services, including short-term consumer loans, card services, check cashing, money transfers, bill payments and money orders. Visit PopulusFinancial.com for more information.

About the North Texas Food Bank

Founded in 1982, the North Texas Food Bank is a nonprofit anti-hunger organization that distributes donated and purchased food through a network of more than 200 partner agencies in 13 countries. For more information on the North Texas Food Bank, please visit ntfb.org

View original content to download multimedia: https://www.prnewswire.com/news-releases/ace-cash-express-feeds-north-texans-by-donating-over-5-000-to-the-north -texas -food-bank-301381642.html

SOURCE Populus Financial Group Inc.

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US Health and Human Services Protect Abortion Patients and Providers in Texas: “We Stand With You,” Says Secretary Xavier Becerra https://uncharted3blog.com/us-health-and-human-services-protect-abortion-patients-and-providers-in-texas-we-stand-with-you-says-secretary-xavier-becerra/ https://uncharted3blog.com/us-health-and-human-services-protect-abortion-patients-and-providers-in-texas-we-stand-with-you-says-secretary-xavier-becerra/#respond Mon, 20 Sep 2021 22:12:00 +0000 https://uncharted3blog.com/us-health-and-human-services-protect-abortion-patients-and-providers-in-texas-we-stand-with-you-says-secretary-xavier-becerra/ “The HHS is taking action to support and protect both patients and providers from this dangerous attack on Texan healthcare. … We tell doctors and others involved in providing abortion care that we support you. “ –Secretary of Health and Human Services (HHS) Xavier Becerra HHS Secretary Xavier Becerra with Nancy Pelosi in 2016 (House […]]]>

“The HHS is taking action to support and protect both patients and providers from this dangerous attack on Texan healthcare. … We tell doctors and others involved in providing abortion care that we support you. “

Secretary of Health and Human Services (HHS) Xavier Becerra

HHS Secretary Xavier Becerra with Nancy Pelosi in 2016 (House Democrats / Flickr)

Health and Human Services (HHS) Secretary Xavier Becerra on Friday announced new resources and actions to protect reproductive health care for Texans after the state banned six-week abortion and the United States Supreme Court allowed the ban to go into effect on September 1.

“Every American deserves access to health care, no matter where they live, including access to safe and legal abortions,” Becerra said.

Texas law prohibits virtually all abortions, with no exceptions for rape or incest, and allows private citizens to sue anyone who assists a woman to have an abortion, rewarding them with a bounty of $ 10,000 plus costs. lawyer if they win a case.

The day after the ban took effect, President Joe Biden launched a “whole-of-government response” to explore options to strengthen access to safe and legal abortions in Texas. Biden asked the White House Office of the Council and its Gender Policy Council to involve the HHS and the Department of Justice (DOJ) to assess what “legal tools we have to isolate women and vendors. of the impact of Texas’s bizarre program of outsourced application for private parties.

On September 9, the DOJ filed a lawsuit against Texas, seeking to block the abortion ban, and on September 14, they filed a motion for a temporary injunction or preliminary injunction to bar the application of the SB 8

Secretary Becerra announced three actions the HHS will take, including:

  • subsidize support for clinics,
  • resources to protect health workers, and
  • strengthening legal protections for pregnant or losing pregnancy in Texas.

“In response to President Biden’s directive, the HHS is taking action to support and protect both patients and providers from this dangerous attack on Texan healthcare,” Becerra said.

Grants for clinics

First, the HHS announced it will allocate additional funding to Every Body Texas, which supports sexual and reproductive health care providers in Texas. The funding is intended to help clinics in Texas meet the expected increase in client needs for family planning, counseling, and contraceptives, including emergency contraceptives, following SB 8.

Second, the HHS will make available up to $ 10 million in grants to expand access to emergency contraception and family planning services to other organizations demonstrating a need due to an influx of clients to the clinic. continuation of SB 8.

Protections for health care providers

Secretary Becerra announced that the HHS Office for Civil Rights (OCR) would implement Church Amendments, which protect health workers from job-related discrimination because they performed or assisted with a legal abortion .

The HHS has issued guidelines outlining protections that prohibit recipients of grants, loans, contracts, or loan guarantees under the Public Health Services Act from discriminating in employment, promotion, or termination of employment. ’employment of any doctor or other health care personnel because the person performed or assisted in the performance of an abortion. Suppliers can file complaints directly with the OCR if they believe they have been discriminated against in violation of Church Amendments.

Protections for patients

health-and-human-services-hhs-protect-texas-abortion-patients-providers-secretary-xavier-becerra-biden-administration
Abortion rights protesters march outside the Texas State Capitol in Austin. (Roxy Szal)

Finally, the HHS has announced its intention to firmly enforce federal laws protecting patients’ rights to receive treatment under the Occupational and Emergency Medical Treatment Act (EMTALA) and the terms of participation in the. Health Insurance. EMTALA status requires that all patients receive appropriate medical screening, stabilizing treatment, and referral if necessary, regardless of laws or state mandates that apply to specific procedures. The law specifically includes pregnant patients.

Civil monetary penalties may be imposed against hospitals or individual physicians for EMTALA violations. Additionally, physicians may also be excluded from Medicare and Medicaid programs. The Centers for Medicare & Medicaid Services also issued a memorandum to providers reinforcing EMTALA and their specific legal obligations for pregnant patients or patients experiencing pregnancy loss.

“Today we are making it clear that physicians and hospitals have an obligation under federal law to make medical decisions about when it is appropriate to treat their patients,” Becerra said. “And we tell the doctors and others involved in providing abortion care that we support you.”

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SBA Strengthens Disaster Loan Program Citing Challenges Of Delta Variant https://uncharted3blog.com/sba-strengthens-disaster-loan-program-citing-challenges-of-delta-variant/ https://uncharted3blog.com/sba-strengthens-disaster-loan-program-citing-challenges-of-delta-variant/#respond Mon, 20 Sep 2021 17:59:49 +0000 https://uncharted3blog.com/sba-strengthens-disaster-loan-program-citing-challenges-of-delta-variant/ The Small and Medium Business Administration said on Thursday that type COVID-19 Delta will continue to expand nationwide, so more SMEs will have access to government financial support under a loan program. in the event of a disaster. Improvements announced. First, the SBA raised the loan limit on its disaster and economic damage loan program […]]]>

The Small and Medium Business Administration said on Thursday that type COVID-19 Delta will continue to expand nationwide, so more SMEs will have access to government financial support under a loan program. in the event of a disaster. Improvements announced.

First, the SBA raised the loan limit on its disaster and economic damage loan program (a low-interest loan that pays back in 30 years) from $ 500,000 to $ 2 million. The funds can be used for all operating expenses, such as purchasing equipment and paying off debts.

The SBA also postponed loan repayments for two years after it began repaying to give small business owners more time to “weather the pandemic without worrying about meeting their goals,” the SBA said Thursday. Said in a press release.

The SBA will only approve and pay off loans of $ 500,000 or less for 30 days, giving SMEs access to relief funds.

SBA also streamlines the application, approval, and payment processes to provide more business support. Eligible businesses can apply for a loan on the SBA website until December 31, 2021. Paycheck Protection Program loan recipients can also apply for EIDL funding.

New York COVID Vaccine Mandate Proceedings

07:52

Today, the SBA processes more than 37,000 requests per day, up from around 2,000 the day before the pandemic. According to the government, the productivity of lenders has increased from 1.86 requests per day to 15 requests per day. The SBA declares that it has deleted the application blacklog and is immediately processing new applications.

“SBA’s COVID Economic Damage and Disaster Loan Program Provides Lifeline to Millions of SMEs Affected by the Pandemic, “ SBA administrator Isabel Casillas Gusman said in a statement Thursday. “We have revamped this important program. We increased our borrowing limit to $ 2 million, offered a 24-month deferral, and increased flexibility to allow borrowers to repay higher interest commercial debt. . “

The goal of the SBA is to ensure that all entrepreneurs in need have the capital they need to reopen, recover and rebuild, ”added Guzman. ..

Difficult to access capital

Small business owners who still struggle to access capital say they are grateful for the initiative.

44% of small business owners Cash reserve less than 3 monthsAccording to a Goldman Sachs report, only 31% of small business owners are confident they will have access to capital when needed. Black owners are getting worse, according to a survey of more than 1,100 small businesses. Over 50% of black-owned SMEs have less than three months of cash on hand, and only 20% of black-owned SMEs are very confident in their access to capital. I bring.

Jessica Johnson Corp., President of Goldman Sachs 10,000 Small Business Voice, said: Owner of the National Leadership Council and the Johnson Security Bureau in Bronx, NY. “”This gives small business owners like me access to affordable working capital as they continue to face ongoing challenges on their road to recovery. “

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FY2021 EPS estimates for Texas Capital Bancshares, Inc. (NASDAQ: TCBI) lowered by analyst https://uncharted3blog.com/fy2021-eps-estimates-for-texas-capital-bancshares-inc-nasdaq-tcbi-lowered-by-analyst/ https://uncharted3blog.com/fy2021-eps-estimates-for-texas-capital-bancshares-inc-nasdaq-tcbi-lowered-by-analyst/#respond Mon, 20 Sep 2021 05:26:17 +0000 https://uncharted3blog.com/fy2021-eps-estimates-for-texas-capital-bancshares-inc-nasdaq-tcbi-lowered-by-analyst/ Texas Capital Bancshares, Inc. (NASDAQ: TCBI) – Investment analysts at Wedbush dropped their estimates of FY2021 EPS for shares of Texas Capital Bancshares in a report released on Friday, September 17. Wedbush analyst P. Winter now predicts the bank will post earnings per share of $ 4.87 for the year, down from its previous estimate […]]]>

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) – Investment analysts at Wedbush dropped their estimates of FY2021 EPS for shares of Texas Capital Bancshares in a report released on Friday, September 17. Wedbush analyst P. Winter now predicts the bank will post earnings per share of $ 4.87 for the year, down from its previous estimate of $ 4.88. Wedbush has a “Neutral” rating on the stock. Wedbush also released estimates for Texas Capital Bancshares’ fourth quarter 2021 earnings at $ 1.10 per share, first quarter 2022 earnings at $ 0.89 per share, and fiscal 2023 earnings at 3.78. $ per share.

TCBI has been the subject of a number of other reports. Janney Montgomery Scott demoted Texas Capital Bancshares from a “buy” rating to a “neutral” rating in a research note on Thursday, September 2. Raymond James lowered his price target on Texas Capital Bancshares from $ 78.00 to $ 75 and established an “outperformance” rating for the company in a research note on Thursday, September 2. They noted that the move was an appraisal call. Stephens lowered his price target on Texas Capital Bancshares from $ 77.00 to $ 75 and set an “overweight” rating for the company in a research note on Thursday, July 22. Piper Sandler downgraded Texas Capital Bancshares from “neutral” to “overweight” and set a price target of $ 75.00 on the stock in a research note on Thursday, July 22. Finally, Hovde Group downgraded Texas Capital Bancshares shares from an “outperformance” rating to a “market performance” rating in a research note on Thursday, September 2. A stock research analyst rated the stock with a sell rating, six assigned a conservation rating, and six issued a buy rating for the stock. Based on data from MarketBeat, Texas Capital Bancshares has a consensus rating of “Hold” and a consensus target price of $ 72.36.

TCBI opened at $ 56.46 on Monday. The company has a 50-day moving average price of $ 62.77 and a 200-day moving average price of $ 67.78. The company has a quick ratio of 1.09, a current ratio of 1.09, and a debt ratio of 1.04. The company has a market cap of $ 2.86 billion, a PE ratio of 11.62 and a beta of 1.85. Texas Capital Bancshares has a 52 week low of $ 29.44 and a 52 week high of $ 93.26. Texas Capital Bancshares (NASDAQ: TCBI) last released its quarterly earnings data on Tuesday, July 20. The bank announced EPS of $ 1.31 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.21 by $ 0.10. The company posted revenue of $ 227.10 million in the quarter, compared to a consensus estimate of $ 240.67 million. Texas Capital Bancshares recorded a return on equity of 9.64% and a net margin of 23.37%. The company’s turnover is down 19.3% compared to the same quarter last year. During the same period of the previous year, the company made EPS of $ 0.82.

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Several institutional investors have recently increased or reduced their holdings in TCBI. Sowell Financial Services LLC increased its stake in the shares of Texas Capital Bancshares by 17,450.0% during the 1st quarter. Sowell Financial Services LLC now owns 351 shares of the bank valued at $ 25,000 after purchasing 349 additional shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Texas Capital Bancshares during the second quarter valued at $ 34,000. Rockefeller Capital Management LP increased its stake in Texas Capital Bancshares by 128.2% during the second quarter. Rockefeller Capital Management LP now owns 785 shares of the bank valued at $ 49,000 after purchasing an additional 441 shares during the period. Hanseatic Management Services Inc. purchased a new position in Texas Capital Bancshares during the first quarter valued at $ 61,000. Finally, TCTC Holdings LLC purchased a new equity stake in Texas Capital Bancshares during the first quarter valued at $ 71,000. 95.81% of the shares are currently held by hedge funds and other institutional investors.

Meanwhile, CEO Rob C. Holmes bought 8,308 shares of Texas Capital Bancshares in a trade on Friday, September 3. The stock was purchased at an average price of $ 60.29 per share, for a total value of $ 500,889.32. As a result of the transaction, the CEO now directly owns 265,029 shares of the company, valued at approximately $ 15,978,598.41. The acquisition was disclosed in a legal file with the SEC, which is available on the SEC’s website. In addition, insider Timothy J. Storms purchased 4,173 shares of Texas Capital Bancshares in a trade dated Thursday, September 2. The shares were purchased at an average cost of $ 59.83 per share, for a total transaction of $ 249,670.59. Following the completion of the acquisition, the insider now owns 7,717 shares of the company, valued at approximately $ 461,708.11. Disclosure of this purchase can be found here. 0.64% of the shares are held by insiders of the company.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc. is the holding company for Texas Capital Bank NA. It provides commercial banking services to clients in Texas and focuses on mid-market business ventures and successful professionals and entrepreneurs. The firm loan portfolio includes commercial loans, real estate loans, construction loans and letters of credit; business deposit products include commercial chequing accounts, safe deposit boxes, cash concentration accounts and other cash management services, including an online system; trust and wealth management services include investment management, personal trust and estate services, custodial services, retirement accounts and related services.

Further reading: double registration

History and earnings estimates for Texas Capital Bancshares (NASDAQ: TCBI)

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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Flats East Bank refinancing puts large-scale project on firmer ground https://uncharted3blog.com/flats-east-bank-refinancing-puts-large-scale-project-on-firmer-ground/ https://uncharted3blog.com/flats-east-bank-refinancing-puts-large-scale-project-on-firmer-ground/#respond Sun, 19 Sep 2021 08:00:00 +0000 https://uncharted3blog.com/flats-east-bank-refinancing-puts-large-scale-project-on-firmer-ground/ A recent refinancing of Flats East Bank, a more than $ 500 million project at the mouth of the Cuyahoga River, resolves long-standing financial problems and paves the way for further development at the 23-acre site. Developer Scott Wolstein on Thursday, September 16, made an agreement that has been in progress for more than a […]]]>

A recent refinancing of Flats East Bank, a more than $ 500 million project at the mouth of the Cuyahoga River, resolves long-standing financial problems and paves the way for further development at the 23-acre site.

Developer Scott Wolstein on Thursday, September 16, made an agreement that has been in progress for more than a year. The deal replaced bonds issued in 2010 and 2014 with new debt, with longer duration and lower interest rates, and freed up cash for Wolstein to catch up with millions of dollars in payments to lenders. public.

“It cleans up what has been a major source of acrimony between us and all the various government entities,” Wolstein said.

By simplifying the financial foundations of the project and removing privileges from parts of the site, the restructuring will also make it easier for Wolstein to refinance its existing buildings – and build new ones on parking lots that could potentially hold up to 1,500. apartments.

The Flats East Bank, where construction began ten years ago, features a 23-story office tower, the 150-room Aloft Cleveland Downtown hotel, a riverside building and more than a dozen restaurants and places of entertainment.

The apartments are full. Office space is 95% occupied, according to bond offering documents. The hotel, like others in the city center, is emerging from a pandemic-induced slump.

But the project has been on shaky ground with government and civic lenders since before the first phase of construction was completed, in large part because of a school tax that Cleveland voters approved in 2012. This increase in Tax was not part of the original financial projections for the project, which required more than 30 sources of funding to get started after the Great Recession.

The solution ended up involving a timely change in state law and, after fierce debate, a Cleveland City Council vote to double the duration of a key tax incentive for the project. In December, the council voted 14-2 to add 30 years to an existing property tax increase funding agreement.

Funding through tax increases reallocates some of the new land tax revenues created by development, often pledging this money to pay down public infrastructure debt.

In Ohio, the standard TIF lasts for 30 years. But the General Assembly last year created a short-lived opportunity for local governments to double that deadline for some existing projects. Such a “mega-TIF” was to keep local schools harmless during the extension period, regardless of the terms of the original agreement.

The initial 30-year window for Flats East Bank ends in 2040. The extension pushes this end date back to 2070. This additional lead has allowed Wolstein to replace the TIF bonds related to the first two phases of the project on more attractive terms. . And that gives it a valuable tool to fund other grassroots projects.

On Thursday, September 16, the Cleveland-Cuyahoga County Port Authority issued nearly $ 58.7 million in new TIF bonds for the project, in two batches that have generated strong investor interest. Almost $ 34 million of the proceeds was used to repay the principal of existing bonds, issued years ago by the port, state, and Summit County Development Finance Authority.

The transaction generated $ 17.4 million to repay a cascade of public lenders, including the city.

Ryan Sommers, a financial consultant on the deal, said there were only three government debt securities left from the first phase of the project: two state urban redevelopment loans and one loan from the US Department of Housing and Development. urban that crossed the city.

“Without that happening, you had those legacy government debt obligations over your head every time you had to refinance, expand, or sell,” said Sommers, general manager of financial services at Project Management Consultants in Cleveland. “You had to take care of it every time. And at that time, you have a very clean, more traditional funding structure.

At a council hearing last year, David Ebersole, the city’s director of economic development, described the apartments as a “high-risk project financed on very thin margins”. Doubling the length of the tax hike funding deal was the only way to clear things up and avoid litigation, he said at the time.

In an email Thursday, Ebersole wrote that the refinancing not only resolved public debt defaults, but also put high-level development in a better position to make outstanding payments.

“These repayments provide the city with financial resources which can be invested in future projects,” he writes.

Cleveland Development Advisors, a civic lender on the project, was repaid long before the deal closed, said Yvette Ittu, president of the real estate and corporate finance arm of the Greater Cleveland Partnership.

“We were delighted to be a part of bringing Flats East Bank to where it is today and happy that it will be able to continue to move forward with more traditional sources,” Ittu wrote in an e -mail. “It’s great when that happens.”

Wolstein said construction could start again this year on a second apartment building on the site. Akara Partners, a Chicago-based developer, has formed a joint venture with Wolstein for the project, which is expected to span a 2.5-acre parking lot at West 11th Street and Main Avenue.

New riverside restaurants and nightclubs, including an Asian fusion restaurant, Texan-style barbecue and country music hall, are expected to start opening in November, Wolstein said. Other incoming tenants include a bagel store, wine bar, and ESPN Cleveland.

Building on an award from the state’s latest capital budget, Wolstein is installing video screens in two locations and preparing to add two permanent stages for live performances. By next summer, he hopes to eliminate car traffic from more of the site, turning the waterfront area west of West 11th Street into a pedestrian-only area.

And the developer is in the early stages of planning for more apartments north of Front Avenue, in a parking lot between FWD Day and Nightclub and Margaritaville Cleveland. But he’s in no hurry.

“It’s more of an art than a science,” he said, “but what you never want to do is flood the market with too many units in the same neighborhood at the same time.… I would not start a project in the apartments until the immediately preceding project came out of the ground. “


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