Adult Club Profit – NKFAN http://nkfan.net/ Wed, 16 Nov 2022 06:24:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://nkfan.net/wp-content/uploads/2021/06/icon-150x150.png Adult Club Profit – NKFAN http://nkfan.net/ 32 32 The city should have public goals on reducing crime, improving schools and other issues https://nkfan.net/the-city-should-have-public-goals-on-reducing-crime-improving-schools-and-other-issues/ Tue, 15 Nov 2022 22:06:00 +0000 https://nkfan.net/the-city-should-have-public-goals-on-reducing-crime-improving-schools-and-other-issues/ Since moving to Chicagoland in the 1980s, I’ve read the daily newspapers cover to cover. In the suburbs, I became aware and then worried about the increase in crime in the city. I believe former mayor Rahm Emanuel started an organization with a website that lays out several numerical goals on crime, but also on […]]]>

Since moving to Chicagoland in the 1980s, I’ve read the daily newspapers cover to cover.

In the suburbs, I became aware and then worried about the increase in crime in the city. I believe former mayor Rahm Emanuel started an organization with a website that lays out several numerical goals on crime, but also on education, employment, and income for the west and south sides.

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Then the 2019 elections brought a new mayor. Soon after, a new police chief brought new hope for improvement. But from what I’ve been able to glean from the media, there are no publicly stated goals for reducing crime, improving education, employment and income growth – and therefore no quarterly statements of progress towards these objectives.

It goes without saying (but I’ll say it anyway): it’s important to set goals like crime reduction, job creation, new affordable housing, and other improvements for the west and south sides. Then post progress reports so there can be accountability and a verifiable cause for celebration when a goal has been achieved.

Ted Maxeiner, St. Charles

Cap pawnbroking rates for veterans

Friday was Veterans Day, when we honor and recognize veterans for their sacrifice of blood, sweat and tears in service to our country. In Illinois, however, veterans can expect recognition by paying 240% or more interest on a pawn loan. As a retired veteran, banker, and chairman of the board of the Woodstock Institute, I believe our state can do better because of its veterans — and everyone else, for that matter.

Last week, Illinois pawnshops lent loans of more than 240% to an active duty service member, in violation of a federal law capping service member loan interest rates at 36%. active and their families. The Illinois Pawnbrokers Association said it was “an isolated incident,” according to the Woodstock Institute. But on the same day, another pawnbroker in Illinois made another 243.3% APR loan to an active duty member.

The solution is simple: cap pawnbroker rates at 36% APR, just like other personal loan providers in the state since the passage of the Predatory Lending Prevention Act last year. The law, passed under the leadership of Illinois’ Legislative Black Caucus, capped payday loans and auto title loans at 36% APR. But an injunction from a Sangamon County court last year allowed pawnbrokers to ignore the cap. We need a new law to fill this gap.

The Legislative Assembly is back in session for a few more weeks this year. Members are expected to pass a bill to ensure pawnbrokers also meet the 36% APR cap on personal loans. The way to honor and respect those who have served is to support them, not extort them, when they are in dire need of money.

Tommy Fitzgibbon, retired, United States Navy, and Chairman of the Board, Woodstock Institute

]]> Get cash fast with car title loans in Canada https://nkfan.net/get-cash-fast-with-car-title-loans-in-canada/ Fri, 11 Nov 2022 11:22:00 +0000 https://nkfan.net/get-cash-fast-with-car-title-loans-in-canada/ Car title loans are a powerful financial solution for people who need cash fast. However, you need to know the basics before going ahead with applying for a car title loan to ensure you get the most out of this type of loan. The main advantage of going for this loan is the speed at […]]]>

Car title loans are a powerful financial solution for people who need cash fast. However, you need to know the basics before going ahead with applying for a car title loan to ensure you get the most out of this type of loan.

The main advantage of going for this loan is the speed at which it is processed. You can get a cash advance within 24 hours and you don’t have to worry about documentation. All you need to do is provide some basic information, including proof of ownership and other required documents.

How do car title loans offer fast cash?

Car title loans are secured loans that are facilitated by your motor vehicle. The lender takes title to your car as collateral and uses it to cover the cost of the loan. That’s why you need to make sure you have enough equity in your car so that it can be resold if you don’t repay the loan. However, this is not a big concern when it comes to car title loans, as they have high approval rates.

The other advantage of this type of loan is that it does not require a credit check. You can get a loan if you have proof that you own a car. However, that doesn’t mean that credit rating has no role in how much you can borrow. A good credit rating will put you in a better position to negotiate a better rate and borrow more money.

How much money can you borrow using the car title loan?

The amount to borrow will depend on a variety of factors, including the value of your car and the current market price. You will need to provide a vehicle history report showing the cost of your car. This figure is used to determine the loan amount. That’s why it’s essential to make sure your car has a clean criminal record and can easily be resold for a reasonable price and is completely yours. If you don’t meet the payment terms, you risk losing your car.

The types of loans offered vary from lender to lender, but most often you can borrow money for up to 5 years. This could mean that you end up paying the loan for five years, but you can rest assured that the money will be paid back on time. Car title loans in Canada are considered a secured lending instrument, meaning your vehicle is used as collateral.

Do you need to own the car?

To get a loan from a car title lender, you must own the vehicle from which you want to borrow money. You can borrow using a car lien or second mortgage as collateral if you own another vehicle. However, that doesn’t mean you should take risks. You still have time to find a better way to get money. Most car title lenders are more understanding at the beginning than towards the end of the loan, so it’s best to look for a car title lender who will work with your payment schedule and deliver on their promises.

How much can you borrow?

The amount you can borrow varies from lender to lender, but is often in the range of $1,000 to $25,000. The amount to be repaid will depend on the terms of your car title loan agreement. Some lenders will allow extended repayment, as Alberta car title loans are considered relatively short-term debt.

What is the interest rate?

The interest rate you will be charged will depend on the terms of your loan agreement, but most often it is between 12% and 18%. Most car title lenders offer special offers and discounts if you prefer longer repayment periods. However, it is essential to note that they are very flexible and most lending institutions allow early post-closing as long as the payment remains current.

Do you need credit checks?

Some people are skeptical about applying for a car title loan because they think lenders do credit checks. However, this is a misconception because auto title loans do not require a credit check. All they have to do is prove that you own a car and that it can be resold in the event of non-payment. Your car should be no more than 10 years old and you should be able to verify that it has a proper title.

How do you get the money?

You will need to register with a car title lender, which is the same as taking out a regular loan with any other lender. However, you will need to provide your vehicle details like year, make and model, color etc. You will also need to submit documentation proving that you own the vehicle with up-to-date car insurance.

Once your application is approved, your lender will contact you with a loan offer. They will then send you your check in the name of your car. You are free to cash the check at any local bank or money transfer service. They will also make sure you get a copy of your loan agreement by fax or mail.

Why Choose Car Title Loans?

Car title lenders offer quick cash to people in need of financial assistance, which is why they’re popular among small businesses and those who want to settle their debts quickly. You can put the money to good use by repaying the loan within a specified time or using it to buy something useful or fun.

The best thing about online car title loans is that you don’t have to worry about your credit score. Even though it’s not great, you can still use it if you own the car. Another advantage of this type of loan is that the interest rate is low and equal to that of the banks.

Conclusion

Car title loans near me can be the perfect financial solution for those who need cash fast. However, you must understand that you will still need to repay the loan and be on top of your payments to avoid repossession. Plus, car title lenders keep their promises, which is why you should feel confident about getting one.

For more details
Car title loans: https://getloanapproved.com/

Vancouver Car Title Loans: https://getloanapproved.com/area-served/vancouver-car-title-loans

Car title loans in Toronto: https://getloanapproved.com/area-served/car-title-loans-toronto

Kelowna Car Title Loans: https://getloanapproved.com/area-served/kelowna-car-title-loans

Alberta Car Title Loans: https://getloanapproved.com/area-served/car-title-loans-alberta

4567 Lougheed Road, Burnaby, BC V5C
Phone: 604-777-5046
Toll Free: 1-855-653-5448

Car title loans are a powerful financial solution for people who need cash fast. However, you should know the basics before you go ahead with applying for a car title loan to ensure you get the most out of this type of loan.

The main advantage of going for this loan is the speed at which it is processed. You can get a cash advance within 24 hours and you don’t have to worry about documentation. All you need to do is provide some basic information, including proof of ownership and other required documents.

This press release was published on openPR.

]]> What disqualifies a candidate for a title loan? https://nkfan.net/what-disqualifies-a-candidate-for-a-title-loan/ Sat, 05 Nov 2022 00:38:44 +0000 https://nkfan.net/what-disqualifies-a-candidate-for-a-title-loan/ Why wouldn’t I qualify for a car title loan? There are two main requirements for a car title loan: First, applicants must have a certain amount of positive equity in their vehicle to borrow. Second, an applicant must demonstrate that they have the ability to afford a title loan and repay it. With these two […]]]>

Why wouldn’t I qualify for a car title loan?

There are two main requirements for a car title loan:

  1. First, applicants must have a certain amount of positive equity in their vehicle to borrow.
  2. Second, an applicant must demonstrate that they have the ability to afford a title loan and repay it.

With these two qualifications in mind, it is easy to understand what disqualifies a candidate for a title loan. The simple answer is that an applicant can be denied a car title loan if they don’t have enough equity in their vehicle to borrow, or if they can’t prove they can afford the loan. ready. If an applicant does not have a qualifying vehicle or income, they cannot receive the money they need through an online title loan.

But, what are the other reasons why an applicant may not be approved for a car title loan? Look more closely!

What can disqualify an applicant for a title loan?

So what disqualifies a candidate for a title loan? Before you can understand why a candidate may not be approved, it is important to understand how it works. Title loans are short-term installment loans that allow you to use your car as collateral for financing. The car title is collateral for the loan, allowing you to access some of the equity in your car and turn it into cash.

Since the car is used as collateral for the loan, that is why the amount of equity is so important. The value of your car will determine your eligibility for the loan, as well as the potential loan amount. Typically, claimants can receive 25% to 50% of the value of their car, depending on:

  1. Their state of residence
  2. And their income/ability to repay the loan

Now that you know how title loans work, you may be able to understand how an applicant could be disqualified for a car title loan. Here are some of the main reasons a borrower could be disqualified:

  1. Their car does not have enough positive equity: Equity is the difference between the current value of the car and what is owed. If you owe more than the car is worth, or if it is in poor condition, you may have negative equity and will not qualify for a car title loan.
  2. A lien is already placed on the car: If an applicant already has a lien on the car from an existing title loan, they may not be able to qualify for a title loan. However, if the applicant has only a few payments left, they may be able to get their current loan refinanced if they are not satisfied with their terms.
  3. Inability to repay the title loan: A borrower will need to have enough income for a lender to reasonably believe they can afford the loan. If a borrower is receiving disability benefits or is self-employed, they may still qualify for a car title loan, but they must have the confidence of the lender that they can afford it.

What do I need to qualify for a title loan?

If you’re confident in your ability to repay a title loan, you may be wondering what you’ll need to qualify. Like any loan, you will need to provide some documents when you apply for the loan, which will notably prove your identity. Here’s what you’ll typically need to qualify for a car title loan:

  1. Proof of income through bank statements, pay stubs, etc.
  2. Proof of address by recent official mail, such as a utility bill

Now that I know what disqualifies a title loan applicant, how do I apply?

If you’re like most Americans, you appreciate the convenience of shopping online. You can do so much shopping online! Grocery shopping, buying clothes, and even buying a car can be done through your smartphone or computer. So why not apply for a car title loan online?

With some online securities lending options, it is possible to initiate your request via your smartphone or computer!

So why wait to see if you qualify for the financial assistance you need? With loan options like ChoiceCash title loans powered by LoanMart, you can access a convenient 3-step application process through your phone today. Just visit the website to get started and place your loan application online! Call 855-914-2945 to learn more about the title loan process and what you need to qualify.

]]> Breaking down the difference between personal loans and car loans https://nkfan.net/breaking-down-the-difference-between-personal-loans-and-car-loans/ Fri, 04 Nov 2022 18:04:20 +0000 https://nkfan.net/breaking-down-the-difference-between-personal-loans-and-car-loans/ Personal Loan Vs. Auto Loan: The Difference Explained Many people dream of having a car. If you are also considering buying a car and need direct deposit loans in minutes, you may want professional advice on which loan option will best suit your needs. Should I apply for a personal loan or a car loan? […]]]>

Personal Loan Vs. Auto Loan: The Difference Explained

Many people dream of having a car. If you are also considering buying a car and need direct deposit loans in minutes, you may want professional advice on which loan option will best suit your needs. Should I apply for a personal loan or a car loan? What is the difference between these two credit products?

Here’s how each of these options works and special considerations to help you make the best choice. Professional advice and a comparison of their pros and cons will help you make an informed decision.

Personal Loan Vs. Auto Loan

Data from the Federal Reserve Bank of New York shows that more than 100 million Americans have car loans. The amount of car loan debt keeps increasing. Most consumers prefer to take out car title loans from local banks. These financial institutions reported $368 billion in open auto loans. About 44% of Americans depend on a car loan to finance their car purchase.

Do you want to own a car? Which loan product is right for you? If you plan to buy a car, you must take out a loan for this purpose. Two of the most common options for financing this purchase are car loans and personal loans. It can be quite easy to apply for both credit options provided you meet the requirements. What is the difference between these credit variants?

A personal loan can be obtained for a large number of purposes including a car purchase. You may want to fund a vacation, a wedding ceremony, or cover medical expenses using this loan. Personal loan rates differ between lenders. At the same time, an auto loan can only be requested to purchase an automobile. Each of these loan options has advantages and disadvantages. You should weigh them and compare the terms before signing the contract.

Personal loan:

• It can be used for various needs such as home improvement or vacation

• It can be unsecured or secured by a valuable asset

• Borrowers with good credit are more likely to be approved for a personal loan. Bad credit holders face higher interest

Car loans:

• Only for the purchase of a vehicle

• It is secured while the car itself serves as collateral

• It is not necessary to have only good credit. Car loans for bad credit are available

• The price of the automobile determines the amount borrowed and the interest rate

Personal Loan: Considerations

This loan option gives the consumer the opportunity to obtain a desired lump sum of money from a local bank or other financial service provider. This sum can be used for many purposes, including but not limited to home improvement, buying a car, vacations, medical bills, weddings, etc. In other words, the customer has the right to choose how he wants to use this money. This loan can be unsecured or secured.

An unsecured loan often requires a higher credit score. Only good credit holders can avail the best terms of unsecured personal loans. People with poor credit can opt for a secure solution that will be backed by collateral. It can be a car, a house or any other valuable asset. If the borrower fails to repay the debt within the stated repayment period, the lender may seize this collateral.

Advantages:

• Repayment flexibility (short or long term loans)

• No limitations on how the money is spent

The inconvenients:

• Higher interest rates

• Low credit holders may have problems with approval

• Strict eligibility criteria

Car loan: points to consider

A car loan is usually secured by the car itself. This means that the vehicle you plan to buy will serve as collateral for this debt. If you fail to repay the loan, the car may be seized by creditors.

It is important to make regular payments and avoid payment defaults. This type of debt must be repaid in equal installments or in monthly installments. Keep in mind that the creditor company retains ownership of your collateral until you pay the last part to repay the entire debt.

Before visiting lenders and comparing rates, you can use an auto loan calculator to work out the best loan term and rate for you. Typically, borrowers are offered lower interest rates than personal loans because this form of debt is secured. In other words, lenders run less risk than consumers. More than that, interest rates are fixed. You shouldn’t worry about the rate increase in this case.


Advantages:

• Lower interest rates

• Bad credit car loans are available

• An adapted “on-site” loan solution

The inconvenients:

• An initial deposit to guarantee the debt

• A customer does not have title to the car until the loan is fully paid off

The essential

Car credit and personal loans are the two most widespread financial solutions today. Consumers can compare the terms and interest of each loan product. Whichever option you select, offers and rates differ between credit companies. It is important to shop around and use special online calculators to work out the total cost of borrowing before going to the dealership or local bank.

Credit unions, traditional banks, and alternative lenders offer both lending options these days. It is beneficial to take the time to explore the offers of several financial institutions to make the best decision.

Start by asking yourself:

• Is my credit rating excellent or good?

• Do I have guarantees?

• How much interest can I afford to pay?

Answering these questions and using our comparison will help you make an informed decision based on your particular situation and financial needs.

]]> Newest Survey of Unbanked Americans Shows Progress — and Perils https://nkfan.net/newest-survey-of-unbanked-americans-shows-progress-and-perils/ Tue, 01 Nov 2022 10:03:12 +0000 https://nkfan.net/newest-survey-of-unbanked-americans-shows-progress-and-perils/ Fewer and fewer households are turning to predatory financial services and more are accessing banking services. But that progress could already be under threat. On the beaches of New York last summer, prices for homemade fruit juice and the hard liquor cocktail known as the “Nutcracker” peaked at $15 a pop – and vendors were […]]]>

Fewer and fewer households are turning to predatory financial services and more are accessing banking services. But that progress could already be under threat.

On the beaches of New York last summer, prices for homemade fruit juice and the hard liquor cocktail known as the “Nutcracker” peaked at $15 a pop – and vendors were loudly announcing that they were now accepting cash, Venmo, PayPal, Cash App, or Zelle for payment.

It was a sign of the times. In 2021, 46.4% of all households used non-bank online payment services like Venmo, PayPal or Cash App, according to the 2021 National Survey of Unbanked and Underbanked Households. Conducted every two years by the Federal Deposit Insurance Corporation, the most recent edition was released last week.

Households without bank accounts were able to access non-bank online payment services to exchange and even store money directly through each platform or by connecting the services to a prepaid debit card account. Use of prepaid cards was much higher among unbanked households (32.8%) than among banked households (5.7%).

The percentage of unbanked households in the biannual survey, 4.5%, is the lowest since the first edition of the survey in 2009. This percentage represents approximately 5.9 million unbanked households, compared to 7.1 million of unbanked households in the 2019 edition of the FDIC survey. . As in previous editions of the survey, unbanked rates were higher than average among low-income households, less-educated households, black households, Hispanic households, working-age households with disabilities, and single mother households.

This year’s edition of the survey also stands out for restoring its estimate of “underbanked” households – those where at least one person in the household has at least one bank account, but in the past 12 months still used at least one unbanked. banking alternative financial services such as prepaid debit cards, check cashing, money orders, payday loans, auto title loans or pawnshops. Households that have used online payment platforms like PayPal or Venmo and connected them to a bank account are considered fully banked if they have not also used one of these other non-bank alternatives.

Under the Trump administration, the 2019 edition of the FDIC survey excluded any estimate of underbanked households. An estimated 14.1% of US households (about 18.7 million) were “underbanked” in 2021.

The 2021 National Survey of Unbanked and Underbanked Households also included questions to better understand the impact of the COVID-19 pandemic on access to banking services. More than one in three (34.9%) previously unbanked households who recently opened a bank account said receiving a government benefit (such as unemployment benefits or a pandemic stimulus payment) had contributed to opening a bank account since March 2020.

The strength of the labor market in recent years also appears to have had a positive impact on access to banking services – among previously unbanked households who recently started a new job, one in three said the new job had helped when opening a new bank account. The FDIC survey says these findings are consistent with findings from 2013 that showed the most common reason unbanked households opened an account was to receive a direct deposit from a new employer.

The 2021 survey also revealed many variations between metropolitan areas. Burlington, Vermont topped the banked metros, with 95% fully banked banks, meaning 95% of households had a bank account and were not using any of the specified non-bank financial alternatives. In second place, Seattle was 91.1% fully banked, followed by the Twin Cities at 90.8% fully banked.

At the other end of the spectrum, New Orleans was only 73.6% fully banked; Jackson, Mississippi, 72.9% fully banked; and finally Wichita, Kansas, with only 66.6% fully banked.

The study reports significant long-term abandonment of non-banking financial services. Use of check cashing has fallen from 7.9% of households in 2011 to 3.2% in 2021, while use of money orders has fallen from 18.8% to 9.7%. The declines affect different racial and income groups.

In 2013, 7.5% of households used at least one of the non-bank credit products tracked by the survey at that time: rent-to-own services, payday loans, pledge loans, tax-free loans and automobile title loans. But in 2021, the share of households using these same products fell to 4.4%. This decline was particularly pronounced among unbanked households – 18.% used at least one of these non-bank credit products in 2013, but only 9.5% did so in 2021.

But the study also notes that it is not yet clear whether these shifts away from non-bank financial services and in particular non-bank credit are due to greater access to other more conventional banking and credit services, or s they have more or less to do with other factors that are still poorly understood. Part of this could be the more widespread adoption of new technologies for financial services – perhaps another side effect of the COVID-19 pandemic.

But more effective consumer protection, for example, could also promote consumer adoption of less predatory financial services.

“The decline in the use of these non-banking services, particularly during a period of falling unbanked rates, could imply that an increasing number of households meet the needs for financial services within the banking system and benefit from the protections of the consumers and the opportunities the system provides,” says the 2021 FDIC survey.

Some of this consumer protection may soon be undone, at least temporarily.

The 2021 National Survey of Unbanked and Underbanked Households comes at a time when a payday loan industry group is is currently mounting a legal challenge against the Consumer Financial Protection Bureau’s funding structure. The decision could jeopardize the agency’s ability to do all the work that could ensure fewer vulnerable households fall prey to more predatory financial services.

Oscar is Next City’s Senior Economic Justice Correspondent. He previously served as Next City Editor-in-Chief from 2018-2019 and was a Next City Equitable Cities Fellow from 2015-2016. Since 2011, Oscar has covered community development finance, community banking, impact investing, economic development, housing and more for outlets such as Shelterforce, B Magazine, Impact Alpha and Fast Company.

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]]> Crystal Lake Mariano’s sells for $36 million; mayor says it shows town is ‘open for business’ – Shaw Local https://nkfan.net/crystal-lake-marianos-sells-for-36-million-mayor-says-it-shows-town-is-open-for-business-shaw-local/ Wed, 26 Oct 2022 21:40:48 +0000 https://nkfan.net/crystal-lake-marianos-sells-for-36-million-mayor-says-it-shows-town-is-open-for-business-shaw-local/ Mariano’s Grocery Store in Crystal Lake sold for $36 million earlier this month, a move that Mayor Haig Haleblian says speaks to both the value of large retailers and the booming city corridor. road 14 in the city. Jason Maier, senior manager of the Manhattan-based Stan Johnson Company, which brokered the deal, confirmed the franchise […]]]>

Mariano’s Grocery Store in Crystal Lake sold for $36 million earlier this month, a move that Mayor Haig Haleblian says speaks to both the value of large retailers and the booming city corridor. road 14 in the city.

Jason Maier, senior manager of the Manhattan-based Stan Johnson Company, which brokered the deal, confirmed the franchise sale took place earlier this month. The grocery store, which opened in 2018, was sold by New York investor Michael Tsoumpas; Maier said the buyer hasn’t been made public, but he “plans to hold it for a very long time.”

“It’s a good deal for Crystal Lake,” Haleblian said. “It speaks to the strength of the retail market here. There are some exciting things going on in the grocery business right now.

The sale comes as Mariano’s parent company, Kroger, seeks to merge with Albertsons in a potential $20 billion deal, The Associated Press reported.

Although the value of Crystal Lake Mariano’s has increased by 41% since it opened in 2018, according to Crain’s Chicago Business, at least one independent grocery store in the northwest suburbs has announced its imminent closure.

Correction: A previous version of this article stated that Island Foods in Island Lake had closed. While the store had announced its pending closing in Julythat shutdown has been suspended, product manager Mark Turner said.

Nonetheless, Haleblian welcomed the news of the sale and said it could indicate positive side effects on the city’s business climate.

The Crystal Lake Mariano’s, 105 Northwest Highway, Oct. 17, 2022. The franchise location sold for $36 million last week, a 41% increase from its original value.

Maier, who confirmed the sale was strictly real estate and that of the Marianos would not change, said the value of supermarkets had increased due to the pandemic and the “essential trade” label.

“Everyone needs food, needs groceries,” Maier said. “A lot of people have had to reevaluate which properties are the most valuable, the most stable. Grocery still has huge demand, but the pandemic has shined greater demand and desirability on these assets.

Maier called Mariano a “unique and upscale” grocery brand, and that this particular Crystal Lake location should be “unresponsive” to market changes, suggesting that only a Whole Foods or similar store coming to town would stand a chance. to create competition.

Haleblian said that although he was surprised by the dollar figure, it showed that real estate investors had a high opinion of this property, both in the location and retail sector, and that the Crystal Lake’s Highway 14 corridor was “open for business,” Haleblian said, adding that such a big sale doesn’t happen very often.

Several redevelopment projects are located along the Crystal Lake section of Highway 14, including a new tenant for the former TitleMax Title Loans building and the Water’s Edge mixed-use proposal that would replace the nearly empty Crystal Court Mall. The addition of Rookie’s Bar and Restaurant in downtown Crystal Lake means that area of ​​town is also completely filled, Haleblian said.

“If a property is for sale here, it snaps up quickly,” Haleblian said.

]]> Dormant Commerce Clause case law continues to evolve https://nkfan.net/dormant-commerce-clause-case-law-continues-to-evolve/ Mon, 17 Oct 2022 22:57:41 +0000 https://nkfan.net/dormant-commerce-clause-case-law-continues-to-evolve/ In a recent press release, the Attorney General of Pennsylvania announced that settlements had been reached with lenders in Delaware and Florida that allegedly provided loan sharking to residents of Pennsylvania. Seemingly in support of the settlement, the press release cites the Third Circuit’s decision in TitleMax of Delaware, Inc. c. Weissmannin which an out-of-state […]]]>

In a recent press release, the Attorney General of Pennsylvania announced that settlements had been reached with lenders in Delaware and Florida that allegedly provided loan sharking to residents of Pennsylvania. Seemingly in support of the settlement, the press release cites the Third Circuit’s decision in TitleMax of Delaware, Inc. c. Weissmannin which an out-of-state lender unsuccessfully sought to bar the Pennsylvania Banking Department from investigating loans made to Pennsylvania residents.

The Seventh Circuit’s 2010 decision is not mentioned in the press release. Midwest Title Loans, Inc. v. Mills. In that case, the Seventh Circuit awarded a major victory to Ballard Spahr’s client by ruling that Indiana was not allowed to apply its usury law to auto title loans made in person in Illinois to residents. from Indiana. Ballard’s client also obtained a $440,000 payment from the State of Indiana to settle his claim for attorney fees as a “winning party” in a federal lawsuit under the federal civil rights that he brought following this decision.

A question in both Midwestern title and TitleMax was whether the “dormant commerce clause” prohibited the impugned state activity, given the facts presented. The Commerce Clause (US Const. Art. I, § 8, cl. 3) grants Congress the power to “[t]o regulate trade. . . between the various states[.]“Because the Commerce Clause gives Congress exclusive legislative jurisdiction over interstate commerce, states cannot enact laws that unduly restrict or burden interstate commerce. This restriction of state power is commonly referred to as the “dormant commerce clause”.

Companies engaging in cross-border lending should continue to closely monitor decisions involving the dormant commerce clause, as the law in this area continues to evolve. Additionally, dormant commerce clause issues can arise not only in auto title lending cases, but also in cases involving other types of loans and other sales of goods and services.

For example, last August the Eighth Circuit ruled that a Minnesota law requiring out-of-state bullion dealers to obtain regulatory approval from the Minnesota Commissioner of Commerce before doing business with Minnesota consumers in other states violated the dormant Commerce Clause. The court expressly endorsed the reasoning of the Seventh Circuit in Midwestern titlewhich he found “persuasive”:

In this case [Midwest Title], an Indiana statute considered title loan transactions to have taken place in Indiana—and thus were subject to Indiana lending laws—if an Indiana resident was part of the transaction and if the creditor had advertised or solicited business in Indiana, regardless of where the transaction took place…. The Seventh Circuit held that the law was extraterritorial, reasoning:

Allowing Indiana to apply its law against securities lending when its residents are transacting in a different state that has a different law would be to arbitrarily exalt the public order of one state over that of another. …. The same could be said here. Allowing Minnesota to apply its bullion regulatory regime to transactions that its residents conduct entirely in South Dakota, South Carolina or South Korea would amount to “arbitrarily [] exalt Minnesota public policy on these jurisdictions.

Additionally, just last week, the U.S. Supreme Court heard oral argument in a case raising the issue of whether a California law discriminates against interstate commerce by banning the sale of pork products in California. where the seller knows or should know that the meat is from the offspring of a breeding pig that has been confined “in a cruel manner”. The petitioners argue that states cannot constitutionally condition in-state sales on requiring out-of-state businesses to operate in a particular manner. The court’s decision should shine a light on the continued effectiveness of the dormant Commerce Clause, which the Ninth Circuit has deemed a virtual “dead letter.”

We will continue to keep you informed of legal developments in this important area.

]]> Missouri state worker charged with stealing $140,000 from unemployment insurance funds | USAO-EDMO and more Latest News https://nkfan.net/missouri-state-worker-charged-with-stealing-140000-from-unemployment-insurance-funds-usao-edmo-and-more-latest-news/ Fri, 14 Oct 2022 17:44:17 +0000 https://nkfan.net/missouri-state-worker-charged-with-stealing-140000-from-unemployment-insurance-funds-usao-edmo-and-more-latest-news/ ST. LOUIS — A Missouri state employee has been charged with three federal felonies and accused of using her spot to send about $140,500 in unearned unemployment benefits to associates, family members and others people. According to the indictment, Vicky Hefner, 63, of Jefferson County, Missouri, began working with the Missouri Department of Labor and […]]]>

ST. LOUIS — A Missouri state employee has been charged with three federal felonies and accused of using her spot to send about $140,500 in unearned unemployment benefits to associates, family members and others people.

According to the indictment, Vicky Hefner, 63, of Jefferson County, Missouri, began working with the Missouri Department of Labor and Industrial Relations, Division of Employment Security as a job security specialist. profit program in 2009. She worked from her residence and a workplace in St. Louis helping individuals file claims over the phone and resolving issues that individuals had with unemployment claims.

From July to December 2020, Hefner logged into the accounts of a number of associates, family members or associates, according to the indictment. She changed their status and used her credentials in ways that made them eligible for unemployment benefits or increased their benefits, according to the indictment,

She also triggered unemployment funds for people who were still working, the indictment says. Hefner’s associates and family members then paid bribes to him, according to the indictment.

Hefner was indicted by a federal grand jury on September 28 on three counts of theft of public money. She pleaded not responsible for the charges last week. Each charge carries a penalty of up to 10 years in prison, a fantastic $250,000, or each. If found guilty, Hefner can also be ordered to return the money.

The counts set out in an indictment are charges only and do not constitute proof of guilt. All defendants are presumed harmless until and until their responsibility is confirmed.

The matter was investigated by the Office of Inspector General of the Department of Homeland Security and the Department of Labor. Assistant U.S. Attorney Edward Dowd III is prosecuting the case.

Missouri state worker charged with stealing $140,000 from unemployment insurance funds | USAO-EDMO

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Missouri state employee charged with stealing $140,000 from unemployment insurance funds | USAO-EDMO

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Missouri state worker charged with stealing $140,000 from unemployment insurance funds | USAO-EDMO

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]]> CFPB Releases Special Edition on Student Loans Service of Supervision Highlights https://nkfan.net/cfpb-releases-special-edition-on-student-loans-service-of-supervision-highlights/ Tue, 04 Oct 2022 21:08:19 +0000 https://nkfan.net/cfpb-releases-special-edition-on-student-loans-service-of-supervision-highlights/ Last week, the CFPB released a “Special Edition on Student Loan Servicing” from Oversight Highlights. In this blog post, we highlight a stealthy expansion of oversight jurisdiction and focus on CFPB findings in two key areas: Transcript hold policies at institutional lenders (e.g., for-profit colleges that provide private loans directly to students); and Manager administration […]]]>

Last week, the CFPB released a “Special Edition on Student Loan Servicing” from Oversight Highlights. In this blog post, we highlight a stealthy expansion of oversight jurisdiction and focus on CFPB findings in two key areas:

  • Transcript hold policies at institutional lenders (e.g., for-profit colleges that provide private loans directly to students); and
  • Manager administration of Public Service Loan Forgiveness (PSLF), Income Contingent Reimbursement (IDR), and Teacher Loan Forgiveness (TLF).

Guardianship jurisdiction. The CFPB indicated that alongside the publication of the special edition, but after having apparently already performed reviews based on his portrayal of Dodd Frank, it had updated its student loan review procedures regarding the definition of “private student loans” for the purposes of its non-bank supervisory authority. A previous version of these procedures referenced the Regulation Z definition of “private education loans,” which differs from the Truth in Lending Act definition. The updated procedures reference the TILA definition, which means that the Office may supervise an institution that expressly grants credit for post-secondary education expenses as long as the credit is not extended, insured or guaranteed under the title IV of the Higher Education Act of 1965, and is not an indefinite consumer credit plan, nor secured by real estate or accommodation.

Transcript Hold. The CFPB has observed that some post-secondary schools withhold official transcripts from students who default on a debt to the school. The CFPB reported that a school would not issue transcripts to defaulting borrowers who had entered into new payment arrangements but had not yet paid their balances in full and that some schools were collecting payments for transcripts but did not provide the transcript if a student was behind on a debt. The CFPB has determined that the general policies of withholding transcripts for extended credit are abusive and has ordered schools to end the practice. (Earlier this year, the CFPB published a blog post in which it endorsed a call from the Secretary of the Ministry of Education to schools to end the practice of withholding transcripts to promote fairness. and diversity. In 2019, California enacted a law that prohibits post-secondary schools from withholding transcripts as a debt collection tool.)

Administration of forgiveness programs.

TLF. Reviewers found that repairers engaged in unfair acts or practices when they falsely denied TLF requests in the following circumstances: (1) when consumers had already completed five years of education, (2) when the school was an eligible school in the low-income teacher cancellation directory. , or (3) when the consumer has formatted the specified dates as MM-DD-YY instead of MM-DD-YYYY, despite meeting all other eligibility requirements. The services were tasked with reviewing all denied TLF applications since 2014 to identify wrongfully denied applications and remedy aggrieved consumers to ensure they received all benefits to which they were entitled, including any reimbursement for overpayments or accrued interest.

PSLF. Reviewers found repairers engaged in deceptive acts or practices by:

  • Implicitly represent to consumers that to be eligible for the PSLF, they must continue to make payments during the COVID-19 payment suspension until the effective date of the rebate by sending standard PSLF communications or letters advising consumers consumers that the estimated eligibility date was based on achieving on-time monthly payment.
  • Before ED announced the waiver of the PSLF in October 2021, explicitly or implicitly misrepresenting that borrowers were only eligible for the PSLF if they made payments under an IDR plan, when in fact these borrowers could be eligible for the temporary expanded PSLF announced in 2018.

Reviewers found repairers engaged in unfair acts or practices by:

  • Falsely denying or approving PSLF applications or employer certification forms and providing incorrectly calculated total eligible payments or estimated eligibility dates to reach the required 120 payments for PSLF.
  • Excessively delaying the processing of PSLF forms.

In addition to any relief that borrowers were entitled to receive through the PSLF waiver or adjustment of the number of one-time payments for IDR forgiveness announced by ED, the relief measures that the CFPB has Services directed to take include completing reviews of PSLF determinations to identify consumers impacted by PSLF violations and provide financial relief to consumers who continue to suffer financial harm from the violations.

IDR. Reviewers found repairers engaged in unfair acts or practices by:

  • Improper processing of consumer IDR requests resulting in erroneous denials or inflated IDR payment amounts. The Office has listed various types of errors made by processing agents when processing applications.
  • Not sufficiently informing consumers of the need to provide additional earnings documentation for prior gap periods when re-entering a Revised Pay As You Earn (REPAYE) plan (i.e. for the period following the withdrawal of a consumer from REPAYE).

Reviewers found repairers engaged in deceptive acts or practices by:

  • Providing consumers with a misleading reason for denial after submitting an IDR recertification request when, in fact, the services had refused the requests because the consumer’s income had increased.
  • Representing to consumers with parent PLUS loans that they were not eligible for IDR or PSLF when in fact these loans may be eligible for IDR or PSLF if consolidated into a consolidation loan direct. (With respect to this practice, servicers have been instructed to improve policies and procedures, improve training, and improve monitoring to prevent future violations.)

In its introduction to the special edition, the Bureau cautioned that the report’s findings impact all managers’ portfolios, including commercial loans from federal family education loan programs, and encouraged managers solve problems across their portfolios. In its conclusion, the Bureau recommended that managers, originators and loan holders review the findings and implement changes in their operations to ensure that the risks identified are carefully considered. It advised market participants that it expects them to incorporate measures to avoid these breaches and similar consumer risks into internal monitoring and auditing practices and notes that evidence of compliance that address these risks is a factor in the Bureau’s decisions about whether to initiate follow-up investigations. The Bureau also said it expects institutions to self-identify violations and compliance risks, proactively provide comprehensive remediation to consumers, and report those actions to the Bureau.

]]> Should I take out a personal loan? 3 things to consider https://nkfan.net/should-i-take-out-a-personal-loan-3-things-to-consider/ Mon, 03 Oct 2022 14:35:00 +0000 https://nkfan.net/should-i-take-out-a-personal-loan-3-things-to-consider/ The advantages of taking out a personal loan are many. Getty Images As inflation continues to limit consumers’ purchasing power, many people are turning to credit to pay bills and emergencies. But while getting into debt is sometimes the only option, there are ways to limit the amount of interest you end up paying. One […]]]>
Personal loan
The advantages of taking out a personal loan are many.

Getty Images


As inflation continues to limit consumers’ purchasing power, many people are turning to credit to pay bills and emergencies. But while getting into debt is sometimes the only option, there are ways to limit the amount of interest you end up paying.

One of the best options is to take a Personal loan. Personal loan interest rates are lower than some other forms of credit. And they are a reliable way to cover certain expenses.

If this sounds like something you could benefit from, you can start the process now.

In this article, we explain what a personal loan is and why you might want to get one.

What is a personal loan?

A personal loan is an unsecured loan, which means there is no collateral behind the loan. You can use a personal loan for several different reasons, such as home improvement projects, emergency expenses, or debt consolidation.

Personal loan amounts range from $2,000 to $100,000, depending on the lender, your credit score and other factors. Repayment terms range from two to seven years.

3 reasons why you could take out a personal loan

The recent rise in interest rates has had a slight impact on personal loan interest rates. But if you have excellent credit, you may still qualify for a low rate. Read below to understand some of the best reasons to use a personal loan.

May be cheaper than other types of credit

Many borrowers resort to personal loans because they are often cheaper than using credit card. For example, the average credit card APR in 2022 is 16.17%. But if you have good credit, you might qualify for a personal loan with single-digit rates.

Here’s how much you could save using a personal loan. Let’s say you have a balance of $10,000 on a credit card with an APR of 16%. If you take out a personal loan with an interest rate of 7% and a term of five years, you could save $4,719 in total interest over the life of the loan.

Top lenders offer rates as low as 4.99% APR, but you’ll likely need a credit score of 760 or higher to qualify.

Plus, it’s easy to go through the application process. Some loans are even disbursed within days. Get money in a lump sum once in a while, then pay it back monthly.

Can repay other loans

A personal loan can be more flexible than short-term loans like payday loans and title loans. These loans have fast repayment terms, often in a month or less. However, if you opt for a personal loan, you can opt for a much longer repayment term with more manageable monthly payments.

If you have a large credit card balance, paying it off with a personal loan can also improve your credit. When you have a credit card, the credit bureaus calculate how much credit you are currently using. This is called your credit utilization rate, which is 30% of your credit score.

When you have a large balance on a credit card, you may have a high credit utilization rate which could hurt your credit score. However, if you can pay off that balance with a personal loan, you can improve your credit score while paying less total interest.

Can help you consolidate multiple loans

One of the main reasons consumers take out a personal loan is to consolidate multiple loans into one loan. This strategy allows borrowers to simplify their repayment process.

For example, if you had a balance on three different credit cards, you could pay them off with one personal loan. Then you would only have one monthly payment to worry about.

Having fewer monthly payments to manage could help you avoid late fees and additional interest charges.

There are three main advantages to debt consolidation loans:

  • You can potentially get a low rate. As mentioned above, personal loan rates are generally better than what you would get with a credit card. A debt consolidation loan could help you pay off your debt at a lower cost.
  • This can increase your credit score. After a series of one-time payments on the loan (and assuming you don’t accumulate debt elsewhere), you will begin to improve your credit.
  • There is an end date. With a debt consolidation loan (unlike credit cards), there is a fixed repayment date so the borrower knows exactly when they can stop paying. So even if the debt you have consolidated is significant, you will at least know exactly when it will be eliminated.

This is not an exhaustive list. There are many other benefits to taking out a personal loan, some of which are specific to your personal financial situation.

If you’re considering this unique opportunity, it’s best to speak with a lender to determine what you qualify for and how quickly you can get paid.

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