Money Management – RiotJs http://riotjs.com/ Thu, 22 Jul 2021 06:35:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 Poor credit 24/7 in 2021 http://riotjs.com/poor-credit-24-7-in-2021/ Tue, 23 Mar 2021 01:28:25 +0000 http://riotjs.com/?p=811 Emergencies wait for no one, which is why bad credit is available 24 hours a day, 7 days a week.

Instead of waiting for your bank or credit union to submit your loan application, the online loan networks listed below can process your application in minutes. If you are eligible, you can choose from several loan offers.

Almost all lenders specialize in bad personal loans that allow you to use the loan proceeds as you see fit. Whether you need an emergency loan, a business loan, or a loan for other purposes, you can go from applying for a loan to financing it in one business day without leaving your home.

The best 24 hour bad loans

Each of the online lenders listed below offers different types of loans and you can transfer loan funds to your linked checking or savings account within 24 hours.

Remember that each of the loan offers you can receive has a different interest rate, monthly payment, payment period, and loan amount. Look carefully at each offer before deciding which one is right for you.

1. Best Bank

Best Bank is a short-term loan network that gives you free access to many related lenders across the United States. The network sends an individual loan application to its affiliated lenders competing for your business.

Eligible applicants must be at least 18 years of age, have an active checking account, and provide proof of current employment and a minimum monthly income of $ 800. Individual lenders may have different loan approval conditions.

2. Agree Bank

In less than five minutes, your loan application can be sent to all the lenders in the Agree Bank network. Right after that, you may be able to choose from a variety of loan offers. After selecting the offer and completing the loan agreement documents, the lender can have your money in their settlement account within one business day.

To qualify, you must be at least 18 years old, a US citizen or permanent resident, and have a minimum monthly income of $ 1,000 after taxes. You must also have a checking account in your full name and provide a business and personal phone number and a valid email address.

3. Demo Lender Bank

BillsHappen offers installment loan options with different loan terms and interest options, depending on the direct lender you are working with. The service is free as each lender pays a transfer fee to Demo Lender Bank for each loan presented online.

An eligible borrower must provide a valid government driver’s license number, social security number, home or mobile phone number, checking or savings account information, home address, and mortgage information. Applicants must be at least 18 years of age and be US citizens or permanent residents.

4. Fine Bank

Fine Bank is one of the oldest and largest online credit networks. Over the years, the network has maintained its own network of lenders that only work with candidates with low credit scores. Depending on your credit worthiness, you may qualify for a car loan, personal loan, or revolving line of credit just like a credit card.

Fine Bank does not accept consumer complaints until you file for bankruptcy. Before applying for a loan, make sure your case is fully resolved and that the judge has signed and completed your paperwork.

5. greendayonline.com

Thanks to greendayonline.com, you go through a three-step process that guarantees you a loan tailored to your budget and needs. Get started with a quick online loan application form that will determine if you qualify for a loan. In that case, you may receive one or more offers to choose from.

The third step is to complete the loan agreement documents on the lender’s website. After completing the paperwork, the lender will send your money to your linked checking or savings account within one business day. Networks receive and process reports 24 hours a day, 7 days a week.

6. Binary Lender

According to Binary Lender, it helps thousands of consumers find a personal loan option each week that fits their budget and needs. Depending on the loan offer you accept, you may have up to 72 months to pay off your debt with a competitive loan term and interest rate.

Eligible applicants must be 18 years of age or older with a valid social security number and a checking account. The network also recommends applicants who do not have accounts more than 60 days past due, active or recent bankruptcies, a tendency to be delinquent, debts that cannot be covered with current income, or recently discharged accounts.

7. Infra Bank

Infra Bank is an online quick loan network that offers short-term loan options to help balance your payments. These loans often have very high interest rates, very high repayments, and other fees and should only be used as a last resort.

Payday lenders have very lax approval scores. Many employers don’t require a credit check until you can show that you have enough income to pay off the entire loan, including interest, within 15 to 30 days.

The payday loan is not an installment loan. Instead of making payments, you pay off all your debts at once.

Can I get a loan in 24 hours?

Gone are the days when consumers had to wait for a bank clerk to apply for a loan and make a credit decision. The Internet now simplifies automatic application processing in seconds with automated drawing systems.

Lenders who work with the credit networks listed above use this technology to make quick credit decisions. However, the loan process requires more than quick decisions. These lenders can also withdraw funds within one business day and deposit them into a linked checking account within 24 hours.

The process is quick, convenient, and easy to do. First, apply for a loan from one of the loan networks mentioned above. In a matter of minutes, qualified applicants can receive multiple loan offers via email.

After selecting the loan offer you like, you can agree to the terms and the network will redirect you to the lender’s website. Then complete the loan documents and seal the transaction. This process usually takes less than an hour.

At this point, the lender will hand over your money. Unless you request a weekend or vacation, you will receive your money within 24 hours or less.

Where can I get an emergency bad loan?

It depends on the type of emergency and how quickly you need your money.

If you can wait until the next business day, you can find cheap loans 24/7 through the loan networks listed above. They offer traditional short-term loan products with no minimum credit requirements.

If you need an immediate emergency cash loan, you may have other local options to help you earn money quickly. However, keep in mind that while bad credit is affordable, it is often much more expensive overall. And this expense cannot simply be converted into money.

  • Picked up your loan payment early from bad debt , perhaps the most expensive option of all. These loans rarely worry about your creditworthiness. Instead, lenders just want to know that you can pay off your bad debts within 15-30 days at a fixed rate, including interest. And this interest can be quite expensive. The average interest rate on payday advance loans is around 400%. In addition to the high setup fees, expect at least $ 15 for every $ 100 borrowed. It adds up quickly.
  • Get a home loan : The car loan is a secured loan. This means that if you pay little, you can use the vehicle title deed as collateral. In this case, the lender will collect your car and sell it to recover the money owed. Since you have collateral, these lenders often look beyond your creditworthiness during the loan approval process.
  • One of the farmers involved elements: pawnshops are an old way to get emergency loans quickly. Like the car loan mentioned above, a pawn shop is a secured loan that uses promised valuables as collateral. If you don’t pay off the loan with interest, you will lose your valuables. Most pawn shops pay cash on the spot.

If none of the above options are right for you, you can always borrow money from a friend or family member. While this option can give you quick emergency relief, it can also cause severe headaches if you don’t pay your debt on time.

What is the simplest loan?

The easiest loan to obtain is a bad loan, also known as a prepayment. But sometimes the simplest way is not the best option.

Check loans are incredibly expensive when you factor in interest rates and other fees. These loans often bypass credit checks as long as adequate proof of income can be provided. This convenience costs money.

In six states, check lenders can charge up to 700% + interest on a check loan.

You can also easily get a home loan or pawn shop. However, with these secured loan options, you must risk a valuable asset to secure your loan.

Online loan networks offer similar ease of use – most applications only take a few minutes. You can start and finish the process from anywhere and have the money in your account within one business day.

What makes these loans even better is that they are a form of installment loan. This means that you can pay off your debt through a series of payments over time.

How can I get an instant online loan?

Many lenders who work with online credit networks offer almost instant credit decisions. The entire process, from application to credit decision, can take less than five minutes.

However, if your instant loan idea immediately pays for itself with the loan proceeds, it is unlikely that you will find a satisfying option online. This is because most online lenders rely on wire transfers to deposit money into a linked checking or savings account. This can take up to 24 hours.

Some lenders offer instant bank transfers for an additional fee. You can make money in minutes, but it is expensive. The average cost of a transfer from a bank account is $ 25 to $ 40. Some banks may charge a similar fee for receiving a bank transfer.

All in all, you may have to pay nearly $ 100 to get your money’s worth right away.

If you need an immediate cash loan that will pay off right away, you will likely need to consider local options, including salaries, pawn shops, loan centers, or a loan from a local bank or syndicate. Recognition. Often times, because you work personally with these lenders, they can approve your application and withdraw the funds immediately.

How to get a loan of $ 30,000 quickly?

The higher the amount you are looking for, the more red tape you will have to cut. Lenders generally try to avoid risk as much as possible. In other words, they look at all aspects of the applicant’s financial history, including a small loan.

If you are taking out larger loans, for example for a loan of $ 30,000, the lender will need to perform due diligence before making the payment. This means full credit check, background check, income check, and maybe even a face-to-face interview.

No lender is in a rush to decide on a large loan application. Therefore, you should not expect to apply for a loan of this size and be reimbursed within one business day.

There are exceptions. Some online loan networks work with lenders who offer large loans with a response time of one business day. For example, Spin Lender can offer loans of up to $ 35,000.

Spin Lender

Keep in mind that larger loans will likely require, at the very least, a fair credit rating. The network will also ask for your age, ID card, and residency status, as well as verifiable income and bank details.

Your income doesn’t have to come from work alone. Lenders will also consider income from state benefits, child support, structured plan, social security, or a retirement plan.

What is the difference between a personal loan and a personal loan?

A personal loan is a very short-term loan that generally lasts no more than 30 days and requires a lump sum payment.

A personal loan, also known as a signed loan, works like an installment loan. This means that you pay off your debt with a series of monthly payments.

Check loans are rarely based on a creditworthiness check and have no minimum credit requirements. They are also much more expensive. A personal loan requires a credit check, although many lenders offer a personal loan quote to a consumer with bad credit.

Check loans are a dangerous financial product that can create a vicious cycle if not paid in full and on time.

Most check loans have an interest rate of around 400%. Expect at least $ 15 in finance charges for every $ 100 borrowed. For example, a $ 1,000 loan would require a repayment of $ 1,150 within 15-30 days.

If you can afford it, you know. Otherwise, the loan will become a new loan with an even higher interest rate. This can multiply your debt over the next 15 to 30 days. If you cannot pay it back, the loan will be extended until the debt is paid in full.

Research shows that 80% of payday loans convert to new loans. Therefore, some lenders borrow by check for as little as $ 400 and end up paying more than $ 12,000 to pay off the debt.

A personal loan provides a smoother monthly repayment and allows you to pay your debt on time with no prepayment fees. In short, it is a more convenient and cheaper way to borrow money.

And since your lender will likely report your payment history to at least one credit bureau, paying on time can help restore your credit.

Is a payday loan a good idea?

For the many reasons mentioned above, a starting salary is almost never a good idea. These loans are expensive and can cause a borrowing cycle that lasts for years.

Still, many people use their future income to access a quick emergency cash loan. These credit centers offer fast approvals and even faster payments.

But there’s a reason prepaid loans get a bad rap. Binary Lender also warns potential candidates in a threatening manner:

“Remember that a short-term loan should only be used as a last resort, in case of financial need. Be sure to review all the terms and conditions before accepting the loan offer. “”

You should heed this warning and be careful when considering a payday loan.

If you think a payday loan is your only option, you can contact your local credit union to see if they offer PAL loans. These financial products, known as alternative check loans, are designed to help consumers avoid payday loans.

They offer small short-term loan options with competitive interest rates and repayment terms. In many cases, a long-term relationship with SKOK is not required.

You can easily find bad debts online for 24 hours

Many things can happen in one day. You can go from living comfortably to safe mode in just 24 hours, and you need cash fast. And when that happens, your emergency probably won’t wait for a bank employee to process your loan application.

Instead of risking your valuables, or future income, at the expense of an expensive check loan, home loan, or pawn shop, turn to the online credit network for 24/7 bad credit plans. of the week, 7 days a week. Easy refunds based on your budget and finances. Requirements.

Depending on the financial institution you are working with, a new loan can help you restore your credit worthiness and make it easier to find a loan the next time you need it.

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Twitter, Facebook lock Trump accounts, remove video from message to supporters http://riotjs.com/twitter-facebook-lock-trump-accounts-remove-video-from-message-to-supporters/ Mon, 22 Mar 2021 09:17:06 +0000 http://riotjs.com/twitter-facebook-lock-trump-accounts-remove-video-from-message-to-supporters/

Facebook, Twitter and YouTube removed video in which President Trump addressed supporters as a pro-Trump mob Protesters stormed the United States Capitol Wednesday afternoon. The sites said the video, in which Mr. Trump apparently sympathized with protesters and repeated false statements about the election, contributed to continued violence and violated policies of disinformation.

Twitter and Facebook went further and locked the president’s accounts.

Facebook CEO Mark Zuckerberg said on Thursday his bloc would stay in place until the end of the president’s term and potentially indefinitely.

“We believe the risks of allowing the president to continue to use our service during this time are simply too great,” Zuckerberg said in a statement. “Therefore, we are extending the block we have placed on his Facebook and Instagram accounts indefinitely and for at least the next two weeks until the peaceful transition of power is complete.”

Twitter froze the president’s account for 12 hours and asked him to remove the tweets. He said if he continues to break Twitter rules after that, the @realdonaldtrump account will be permanently suspended.

In the now deleted video, Mr Trump told his supporters: “I know your pain. I know you are hurt. We had an election stolen from us” – a claim he continues to make even afterwards. his own attorney general confirmed that there was no evidence of such fraud and the courts dismissed his lawsuits.

The president continued in the video, “But you have to go home now. We have to have peace.”

“We must have law and order. We must respect our great people in law and order. We do not want anyone to be hurt,” he said, before returning to a defiant message. : “… There has never been a time like this when something like this happened where they could take it away from all of us, from me, from you, from our country.”

“But we cannot play these people’s game,” he told his supporters. “We love you. You are very special. You see what’s going on, you see how others are treated so badly and so badly. I know how you feel, but come home and come home in peace. ”

Twitter first flagged the video and blocked Mr. Trump’s followers from commenting, retweeting, or liking the video, before deleting it and then locking his account for 12 hours. The president will have to delete the tweets for his account to be restored, Twitter said.

“Due to the unprecedented and continuing situation of violence in Washington, DC, we have demanded the deletion of three @realDonaldTrump tweets that were posted earlier today for repeated and serious violations of our civic integrity policy.” , he said in a tweet, adding a policy link, which prohibits “manipulating or interfering in elections or other civic processes” or publishing false information about them.

Facebook initially said on Wednesday that Mr. Trump would not be able to post on the platform or Instagram for 24 hours, before extending the ban on Thursday.

“The priority for the whole country must now be to ensure that the remaining 13 days and the days following the inauguration proceed peacefully and according to established democratic standards,” Zuckerberg said.

Guy Rosen, who oversees Facebook’s work on security and integrity, tweeted Wednesday
that the social media site removed Mr. Trump’s video as part of an “emergency.”

“We removed it because overall we think it helps rather than decreases the risk of continued violence,” Rosen said.

Facebook too declared On Wednesday, it searches for and removes all content “praising and supporting” the riots in Washington, DC. It also removes content that “calls for bringing weapons to places across the United States,” incites or encourages them. events on Capitol Hill, calls for protests that violate the Washington, DC curfew, or attempts to “re-enact the violence” in the coming days.

“We are appalled by the violence on Capitol Hill today. We are treating these events as an emergency,” Facebook said. “Our Election Operations Center has already been active in anticipation of the Georgia election and the Congressional vote to certify the election, and we are monitoring activity on our platform in real time.”

YouTube told CBS News in a statement that the company removed the video from the president’s channel because it “violated our policies regarding content that alleges widespread fraud or errors changed the outcome of the 2020 US election. ”

However, the company will allow downloads of copies of the video “with additional context and sufficient educational, documentary, scientific or artistic (EDSA) value”.

Video remained live on the Trump campaign Speaking page, where it gained 1.3 million views on Wednesday night.


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Where can my business find more funding during lockdown? http://riotjs.com/where-can-my-business-find-more-funding-during-lockdown/ Mon, 22 Mar 2021 09:17:06 +0000 http://riotjs.com/where-can-my-business-find-more-funding-during-lockdown/

Updated on December 03, 2020

4 minutes to read

In the wake of the coronavirus, many forms of financing and business assistance have emerged, both nationally and locally. If your small business is still looking for the right kind of support, there might be other options you haven’t considered yet. Article by Nick Green.

Financing for SMEs affected by the coronavirus

Businesses have flocked to take advantage of government funding programs during the COVID-19 crisis, but many are still struggling to find the support they need. However, companies that have encountered obstacles may still find some form of support. Some small business owners may still ignore all that is available, and new initiatives continue to be launched by organizations such as Local Business Partnerships (LEP), business groups and the private sector.

The Coronavirus Job Retention Scheme (better known as the leave program), under which the government pays 80% of the wages of employees unable to work, is now closed to new applicants. Currently, around 9 million workers are on leave, but the plan is due to end on October 31, 2020, unless extended.

There are still plenty of other options for businesses that still need emergency financing during the foreclosure.

How effective are government loan programs?

So far, a total of almost £ 35 billion has been provided to companies in the form of government guaranteed loans. These take three forms: the Coronavirus Business Interruption Loan Program (CBILS), a similar scheme for large companies (CLBILS) and the Bounce loans scheme. It is the last of these that has proven to be the most popular and accessible, with nearly £ 24bn in funding coming from these ‘bounce back’ loans. Bounce loans can reach £ 50,000 or a quarter of the company’s turnover, whichever is greater. Money can be available in as little as 24 hours.

CBILS provided £ 9.6bn in funding, while CLBILS assisted 244 large companies to the tune of £ 1.6bn in total. However, up to 60 percent of large companies that have applied for this funding face either rejection or a long wait.

The approval rate for bounce loans is much higher, at around 80%. CBILS loans have proven to be much more difficult to obtain, with almost 49% of all applications unsuccessful. That said, CBILS loans potentially offer a lot more money – up to £ 5million – so checks on the viability of a business are much tighter.

Which is better – CBILS or a Bounce Back loan?

Some small businesses that took out a small CBILS loan early in the crisis might be better off switching to a rebound loan. CBILS loans can charge interest of up to 6 percent, while bounce loans have a fixed interest rate of 2.5 percent. Note that neither plan charges interest or requires repayment for the first 12 months.

According to accounting firm HW Fisher, a number of small businesses have found themselves with expensive CBILS loans when they may have cheaper bounce loans. Bounce loans can be used to pay off CBILS loans (there is no prepayment charge), so the switch should be easy to make. Accountants noted that the cost differential was “a little-known fact that banks seem unwilling to talk about.”

Support for SMEs in Local Business Partnerships

Various additional business support programs are launched by Local Business Partnerships (LEP). LEPs are partnerships between local authorities and businesses that aim to stimulate economic growth in local areas and, as such, are likely to play a central role in post-containment recovery.

Individual LEPs set up their own projects to support local businesses, based on their knowledge of the needs of the region. One of the first of these initiatives was launched by the Greater Birmingham and Solihull LEP (GBSLEP), and will aim to offer support in key areas such as helping businesses to adapt, bringing their services and taking steps to allow the physical reopening in a timely manner. Classes. A subsidy program is also planned.

Other LEPs taking strong action include the Solent LEP, which has allocated funds for “Restart, Restore and Recover” loans. These RRR loans are specifically aimed at helping businesses that have been unable to access other forms of support, as well as businesses deemed to provide an “economic lifeline and essential services” to the local economy. Loans of up to £ 1.5million will potentially be available where no other government assistance is available.

There are also encouraging rumors coming from LEP South East and LEP Power Plant North, and more are expected to follow. Companies that still need emergency bridging funding or other support should therefore contact their LEP to see what might be available now or in the near future.

The Future Fund and EIS

In the meantime, calls have been made for the government to provide new incentives to investors, so that companies trying to recover have more access to private finance. Buckworths law firm, which only works with fast-growing companies, joined 87 other signatories in a letter to Chancellor Rishi Sunak. They point out that investors using the Future Fund scheme cannot pretend EIA tax relief on their investment. This, they argue, risks excluding SMEs and start-ups from the Future Fund program.

This can be a particular problem for startups, many of whom have yet to demonstrate revenue and therefore may not be eligible for government guaranteed loan programs such as CBILS or the rebound program. Therefore, the letter calls for “a temporary tax break scheme for angel investors”, warning that the UK could otherwise lose “a generation of SMEs”.

The proposed solution is a temporary tax relief scheme for venture capitalists and angel investors, separate from the EIS but operating in a similar fashion. The government has yet to comment on the request.

Other initiatives to help businesses

Support for small businesses during the crisis can also come from the private sector. For example, Sky Media has so far pledged a total of £ 2.5million to 250 small and medium-sized businesses to help fund advertising. Sky’s SME Support Program will provide up to £ 10,000 per company, provided the company is UK-based, is at least one year old and employs less than 50 people. The free advertising will be available through Sky’s Adsmart platform, which personalizes the advertisements for the viewer based on consumer data.

Fittingly, some of the first beneficiaries of the program have been on the front lines of the COVID-19 crisis, including the Scottish Charity Air Ambulance and Bucks-based care provider Care & Carers. Hopefully other large companies able to help small businesses will follow Sky’s lead.

Ask your accountant about accessing government and private sector support for small businesses.

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About the Author

Nick Green

Nick Green is a financial reporter who writes for Unbiased.co.uk, the site that has helped over 10 million people find financial, business and legal advice. Nick has been writing professionally on money and business related topics for over 15 years and has previously written for major accounting firms PKF and BDO.

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California teen talks about surviving 30 hours in woods, fleeing after gunman shot and killed his father http://riotjs.com/california-teen-talks-about-surviving-30-hours-in-woods-fleeing-after-gunman-shot-and-killed-his-father/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/california-teen-talks-about-surviving-30-hours-in-woods-fleeing-after-gunman-shot-and-killed-his-father/ California teen speaks out of surviving 30 hours in woods, fleeing after gunman shot and killed his father – CBS News

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A 15-year-old Californian boy speaks out after his father was gunned down in front of him on an Independence Day weekend. In an interview only on “CBS This Morning,” he and his mother discuss the tragic and unexpected death of Dr. Ari Gershman. Anna Werner reports.

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]]> House Financial Services Committee Reviews Reform Recommendations After GameStop Business Event – Corporate / Commercial Law http://riotjs.com/house-financial-services-committee-reviews-reform-recommendations-after-gamestop-business-event-corporate-commercial-law/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/house-financial-services-committee-reviews-reform-recommendations-after-gamestop-business-event-corporate-commercial-law/

United States: House Financial Services Committee considers reform recommendations after GameStop trade event

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The United States House Financial Services Committee took into consideration reform recommendations from capital market experts on regulatory issues arising from the GameStop trade event.

At the hearing titled “Game Stopped? Who Wins and Loses when Short Sellers, Social Media and Retail Investors Collide, Pt. II,” lawmakers heard testimony about possible areas for reform. (See Memorandum prepared by Majority staff.) Witnesses discussed conflicts of interest between payment for order flow and best execution, disclosures of short sales, accelerated settlement times, market dominance and the gamification of online commerce by retail investors.

Michael Blaugrund, COO of the New York Stock Exchange testified that regulatory reform should focus on (i) disclosure to shareholders, (ii) transparency for securities lending, (iii) removing competitive barriers for public investors and (iv) moving to a one-day settlement cycle (“T + 1”). On these four topics, Mr Blaugrund recommended, respectively, that the SEC consider:

  • shorten the reporting period for Form 13F and complete the public filing of Form 13F with “mechanisms” that would directly disclose to issuing companies a reportable position established or fully ceded;
  • the establishment of a similar consolidated band for securities lending, such a system being described as a publication of “the quantity, charges and / or discounts, duration and other material conditions for each stock lending without attribution ”;
  • harmonize stock market and over-the-counter price increase regimes, in particular by extending sub-penny trading to enlightened public stock exchanges; and
  • accelerate industry settlement cycles from two days (“T + 2”) to T + 1 after the trade. Mr Blaugrund said the capital efficiency of the T + 1 cycle would outweigh the cost of potential operational errors.

Former SEC Commissioner Michael S. Piwowar, currently Executive Director of the Milken Institute Center for Financial Markets, advised this:

  • the SEC should review (abolish or significantly expand) the definition of accredited investor to gain more equitable access to investment opportunities in private companies at all income levels;
  • the Treasury Secretary should initiate a securities settlement workflow to coordinate how the SEC and bank branches could shorten the settlement cycle;
  • the SEC should consider amending Rule 605 (“Disclosure of Order Execution Information”) and Rule 606 (“Disclosure of Order Routing Information”) under the NMS Rules; and
  • With respect to transaction reporting, the SEC should distinguish between “regulatory reporting” and “public transparency” before determining whether to increase regulatory reporting and, separately, whether new information should be provided to the public.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

POPULAR POSTS ON: US Corporate / Commercial Law

ABCs of PSPC Insurance

Mayer brown

Directors and Officers (D&O) insurance policies are traditionally structured as “ABC” policies, made up of A, B and C coverages which together provide protection to the issuer as well as to the directors and officers.

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New SBA Loan Remission Requests Released, More Paycheck Protection Program Flexibility Law Advice | Gould & Ratner LLP http://riotjs.com/new-sba-loan-remission-requests-released-more-paycheck-protection-program-flexibility-law-advice-gould-ratner-llp/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/new-sba-loan-remission-requests-released-more-paycheck-protection-program-flexibility-law-advice-gould-ratner-llp/

Recently, the SBA released new guidelines for the ever-evolving Paycheck Protection Program (P3). As we recently wrote about, on June 5, 2020, borrowers received good news, as the PPP Flexibility Law extended the period of use of loan funds from 8 to 24 weeks, reduced the amount of the loan to be tied to the payroll from 75% to 60% in order to obtain maximum pardon, increased the length of time an employer must restore FTE numbers and wages, and widened the safe harbor for the same.

The updates made by the SBA to the Third and Sixth Interim Final Rules provide clarity on some of these changes. Borrowers who opt for a covered period of 24 weeks or (in the case of borrowers who have obtained loans as of June 5, 2020, automatically benefit from a covered period of 24 weeks), will be able to provide more mass salary per employee. Following the tripling of the length of the period covered by the Flexibility Act, the final rule confirms that wage costs, including wages, salaries and tips, up to $ 100,000 of annualized wages per employee, can be provided for the equivalent of 24 weeks, for a maximum of $ 46,154. per employee. Covered benefits, including health care expenses, pension contributions, and state payroll taxes imposed on employees paid by the employer (such as unemployment insurance premiums), are included for employees , but not for owners.

The update also addresses the differentiation between owners and employees in calculating out-of-pocket labor costs. Owners are counted separately, and are subject to different ceilings, depending on whether they are in a covered period of 8 or 24 weeks:

“The Administrator, in consultation with the Secretary, has determined that it is appropriate to limit the Replacement Owner’s Compensation exemption for individuals with self-employment income who file a Schedule C or F to eight weeks. (8/52) of 2019 net income (up to $ 15,385) for a covered period of eight weeks or 2.5 months (2.5 / 12) of 2019 net income (up to $ 20,833) for a 24 week period covered per owner in total in all businesses.

The SBA says this is in keeping with “the structure of the CARES Act and its general purpose of keeping workers paid, and will prevent deals that Congress did not anticipate.”

Revised application, new version “EZ”

In addition to offering advice (and promising more in the future), the SBA has also released a revised pardon request And one “EZ version»For borrowers who:

  • are self-employed and have no employees; or
  • have not reduced the wages or salaries of their employees by more than 25% and have not reduced the number or hours of their employees; or
  • have experienced reductions in business activity due to health guidelines related to COVID-19 and have not reduced their employees’ wages or salaries by more than 25%.

Fortunately, the EZ app is a two-page document, with fewer calculations and less documentation. Borrowers who might qualify to take advantage of this streamlined process should review the list of certifications on page 2 of the application to ensure they are eligible.

Pardon based on duration of less than 24 weeks

As noted earlier, borrowers do not need to meet the 60/40 ratio of salary and non-salary expenses to qualify for a pardon; on the contrary, forgiveness will simply be reduced. In recent days, borrowers have questioned whether the same flexibility could be found in tallying FTEs when they had spent their PPP loan proceeds in less than 24 weeks. Does he have to wait until the end of the 24 week covered period to request remission, or does he have to report his FTE count at the end of his 24 week mark? While the interim final rule is far from clear on the matter, I wrote to Patrick Piorkowski, a lender relations specialist at the SBA’s Illinois district office. Piorkowski replied, “You can choose to ask for forgiveness at the time you think you are eligible. You don’t need to wait 24 weeks. We anticipate that this issue will be addressed in future guidance.

EIDL loans are again available for non-farm businesses

Finally, since last month, all businesses except agriculture have been barred from applying for Economic Disaster Lending (EIDL). The ASB announced it week that it processes EIDL applications submitted on its site by April 15, 2020, and also reaffirmed that small businesses can re-apply for the EIDL advance of up to $ 1,000 per employee (including independent contractors and workers in concert) – an advance that does not need to be repaid whether or not your loan is approved. Unlike the PPP, which (for now) will only receive applications until June 30, 2020, the EIDL program will run until December 31, 2020.

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Growing pressure from COVID-19 on mental health, more teens suffering from depression http://riotjs.com/growing-pressure-from-covid-19-on-mental-health-more-teens-suffering-from-depression/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/growing-pressure-from-covid-19-on-mental-health-more-teens-suffering-from-depression/

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(KFOR / NBC NEWS) – As increase in coronavirus cases leads to prolonged virtual learning, mental health experts report teens and teens suffer from higher-than-normal depression or feelings of self-harm .

“I didn’t expect to see teenagers, especially older teenagers, suffer as much as I’ve seen.” said Katie Evans, a licensed professional counselor based in Oklahoma City.

Since the start of the pandemic, she and her peers have seen a sharp increase in depression among adolescents and adolescents.

“We’ve all gotten so many referrals over the past few months,” Evans said. “There are so many people who want services right now, it’s so hard to find someone with an openness.”

They find that young people are suffering from a general feeling of instability this year, including the political and social climate, and especially because of the coronavirus. The pandemic is particularly difficult for young people due to what Rebecca Hubbard of the Mental Health Association Oklahoma has called “systematic” isolation during an important phase of development.

“Peers are the ones they turn to to develop their identity, to create a connection with others, to understand where they are in the world,” Hubbard said.

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Prevent a mental health crisis in children and adolescents http://riotjs.com/prevent-a-mental-health-crisis-in-children-and-adolescents/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/prevent-a-mental-health-crisis-in-children-and-adolescents/ Prevent a mental health crisis in children and teens – CBS News

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CBS News collaborator and psychologist Lisa Damour warns that prolonged isolation from social distancing could cause a mental health crisis in children and teens. As many of them prepare for the new normal of school, Damour joins “CBS This Morning” for a conversation about how to help the children in our lives.

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]]> India Revival Mission eForum: Experts share prospects for growing consumer confidence and the retail lending industry http://riotjs.com/india-revival-mission-eforum-experts-share-prospects-for-growing-consumer-confidence-and-the-retail-lending-industry/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/india-revival-mission-eforum-experts-share-prospects-for-growing-consumer-confidence-and-the-retail-lending-industry/

Experts share prospects for growing consumer confidence and the retail lending industry

The global pandemic surprised everyone and caused major disruption to economies around the world. While India was already on the path to digitalization, its pace has accelerated, with all key sectors turning to digital support for business operations. The banking and financial sector has also accelerated the adoption of digital tools for disbursing loans, credit cards and for online transactions.

At India Revival Mission eForum, a prominent panel converged to reflect on various aspects of the retail lending industry – Recovery from the pandemic and the impact of digitization – Shifting the loan application process from offline to online; Impact of the moratorium on loan repayments; Future prospects for the personal loans and retail repayments industry.

For the economy to catch fire, it is very important that consumer confidence and consumption get back on track. The discussion focused on the very relevant question of “How will the prospects for growth in consumer confidence and personal loans be realized”.

Experts such as Saloni Narayan, Deputy Managing Director – Retail, State Bank of India; Bali Summit, President and Head of Personal Loans, Axis Bank; Sanjay Kumar Agarwal, senior manager at CARE Ratings; Sanjay Doshi, Partner & Head, Financial Services Advisory Leader, KPMG India shared their valuable insights, and the discussion was moderated by Sumiit Lakhoutia – Anchor, Times Network.

Speaking on the Role of digitization in restoring consumer confidence in the banking sector after confinement, Saloni Narayan said: “The pandemic has really made digital history very difficult. Everything we have achieved during this time has been greatly contributed by digital adoption. “She adds:” Over the past year (early April 2020) we have increased by approximately INR 70,000 crore in the fair Personal loan Category. Looking at the trend, we see that on the INR 2.20 crore portfolio in Express credit, 38% were provided by digital.

Ms Narayan also referred to other digital initiatives such as electronic stamping, digital documentation, etc., which have simplified loan disbursement and other operations. She informed participants that SBI has engaged with state governments and National e-Governance Services Ltd. (NeSL) to facilitate loans without the customer having to contact the bank. While branches are open to customers, banks are encouraging people to go digital for their lending needs.

Analyze how digital banking has influenced consumer confidence, Bali Summit said: “At Axis Bank we are still betting on digital, but what happened during the pandemic is that digital has had a boost. So we really saw a step forward and as our business grew quarter over quarter we had the highest business ever done digitally. Almost 50-70% of our credit card loans and sales are done digitally. In fact, 90 to 95% of our overdrafts (OD) are done digitally. “

He added that in the future this trend will continue and this is certainly a positive thing as it gives the customer the choice to transact 24×7 and 365 days a year, in a very transparent and efficient manner. In addition, it is a win-win situation for the bank and the customer.

Deciphering the impact of the pandemic and subsequent locking of personal credit scores, Sanjay Kumar Agarwal said: “With most loan programs being run by banks, the focus is on the individual credit bureau score, as this becomes a threshold for deciding whether or not to accept credit and grant benefits. such as interest rate, etc. that the consumer would want from the lender. He further explained that during the pandemic, credit ratings have become of paramount importance for maintaining asset quality and the lender-borrower relationship.

Assessing consumer appetite for home loans after confinement, Sanjay Doshi said, “Even before the pandemic, the financial services industry, especially NBFCs, was going through challenges. However, the retail sector has not been affected in terms of NPA or other constraints. As for borrower behavior, it has always been successful in the retail sector. The past year has been an unexpected year for everyone, and with the government and regulator giving out plans around a moratorium and one-off restructuring – things have been better and under control. The whole credit score card and credit bureau played a positive role and really helped the recovery. “

The panelists also shed light on various other issues such as, if consumer confidence starts to rebound; Has India overtaken credit cards with advanced digital payment technologies; Outlook for Growth Prospects for India’s Retail Lending Industry; Future prospects for the history of consumption in India, to only cite a few.

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Study finds pandemic has wreaked havoc on teens http://riotjs.com/study-finds-pandemic-has-wreaked-havoc-on-teens/ Mon, 22 Mar 2021 09:17:05 +0000 http://riotjs.com/study-finds-pandemic-has-wreaked-havoc-on-teens/

ROCHESTER, Minn. – It is not only the elderly who experience loneliness during the pandemic.

It turns out our kids too.

The American Academy of Child and Adolescent Psychiatry warns that physical isolation leaves children alone.

The Journal warns that these feelings can drag on long after the pandemic is over.

Distance learning creates a variety of barriers for students, from lack of structure to social isolation.

KIMT News 3 spoke with a student who says she misses the hustle and bustle of life with her regular school schedule in person.

While some children don’t worry about the changes, some don’t adapt well.

The National Alliance on Mental Illness says to watch out for severe risky behavior, significant weight loss, excessive drug or alcohol use and drastic mood swings.

A senior John Marshall told KIMT News 3 that she wished she hadn’t taken her life before the pandemic for granted.

“It’s really isolating and a little lonely to wake up every day, turn on my computer and watch a screen for hours on end. And then do my homework right after, still in my room and only go out for hours. dinner. It’s really exhausting. I feel more alone than ever, “says Isabella Ostman.

She says there is nothing more to look forward to at school and she really misses it.

She hopes to be back to school in person soon.

John Marshall High School students returned to school today after the holidays, but all classes are still online.

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