Banking – ABWR http://abwr.org/ Fri, 01 Oct 2021 09:26:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://abwr.org/wp-content/uploads/2021/05/default-150x150.png Banking – ABWR http://abwr.org/ 32 32 How a debt consolidation loan can help you improve your credit score https://abwr.org/home-lenders-bad-credit/ https://abwr.org/home-lenders-bad-credit/#respond Fri, 07 May 2021 10:35:04 +0000 https://abwr.org/?p=595 Credit card debt can hurt your credit score — even if you’re dutiful about making on-time minimum payments every month. And if you have outstanding debt on more than one credit card, it may seem like there’s no end in sight. If you feel like you’ll never be able to pay off your high-interest credit cards, a debt […]]]>

Credit card debt can hurt your credit score — even if you’re dutiful about making on-time minimum payments every month. And if you have outstanding debt on more than one credit card, it may seem like there’s no end in sight.

If you feel like you’ll never be able to pay off your high-interest credit cards, a debt consolidation loan may help you get on track with a more straightforward and affordable payoff plan. And you get the added bonus of improving your credit score, too at OakParkFinancial.

Ahead, Select explains why lowering your credit card balances with a debt consolidation loan can have a positive impact on your credit while also helping you take steps toward financial freedom.

How your credit card balance impacts your credit score

Your credit utilization rate (CUR) is the second biggest factor (after payment history) that makes up your credit score. FICO and VantageScore, the two most common credit scoring models, look at the size of your credit card balances in comparison to how much available credit you have left.

Both major scoring models rank “amounts owed” and/or “percent of credit limit used” just below the number-one most important factor, on-time payment history.

Experts recommend keeping your total CUR well below 30% — so if you have a $10,000 credit limit, you should aim not to spend more than $3,000 each billing cycle. Some experts even suggest staying below 10%, which might not always be realistic depending on your budget and how much credit you have available.

What to do if your debt is ruining your credit score

If your high credit card balance is impacting your score, you’ll want to take steps to pay it off as soon as possible.

The fastest option is to make higher-than-minimum payments until you’ve completely paid off your full balance. You’ll continue to pay interest, but depending on how much you can afford to pay each month, you could tackle it before the interest charges get too out of control. But not everyone can afford to go this route.

If the balance is so high that you can’t make a considerable dent, and you’re spending a lot of money on high interest charges, you might want to consider transferring that debt to a personal loan with a lower APR. While applying for a debt consolidation loan will result in a small ding to your credit score (as with every hard inquiry), drastically lowering your CUR will more than likely result in a noticeable boost to your credit score.

After applying and getting approved for a debt consolidation loan, many lenders will pay off your creditors directly. Then you repay the loan in monthly installments, usually with a lower, fixed interest rate than you were paying on your credit cards. Once a personal loan is paid off, the credit line is closed and you have no more access to it. 

Before you make any decisions, use a free credit score simulator such as the one provided by CreditWise® from Capital One® to see that happens if you were to take out a new loan and pay off your credit card balance.

Using this free tool, you can enter hypothetical scenarios, such as taking out a $10,000 loan and/or paying off $10,000 of your current credit card debt, then watch as your score recalculates to estimate how it may improve with every financial decision. (You can also see what could happen in other hypothetical situations, like applying for a mortgage, taking out a car loan, letting your payments default, etc.)

Every consumer’s credit score depends on multiple variables. There are no guarantees, but you may find that reducing your CUR will help you raise your credit score in under 30 days.

Select offers a widget where you can put in your personal information and get matched with personal loan offers without damaging your credit score.

When narrowing down and ranking the best debt consolidation loans, we focused on recommending loans with fixed-rate APR (meaning it doesn’t go up and down), flexible loan amounts and terms, no early payoff penalties and no origination fees when possible.

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Twin suspects in plot to kidnap Michigan governor have their obligations curtailed https://abwr.org/twin-suspects-in-plot-to-kidnap-michigan-governor-have-their-obligations-curtailed/ https://abwr.org/twin-suspects-in-plot-to-kidnap-michigan-governor-have-their-obligations-curtailed/#respond Thu, 08 Apr 2021 02:38:34 +0000 https://abwr.org/twin-suspects-in-plot-to-kidnap-michigan-governor-have-their-obligations-curtailed/ Two of the 14 men charged with crimes arising from an alleged plot to kidnap Governor Gretchen Whitmer and start a “civil war” had their bail amounts reduced on Wednesday. Twin brothers Michael Null, 38, of Plainwell, and William Null, 38, of Shelbyville, appeared in County Antrim District Court for a status conference and hearing […]]]>

Two of the 14 men charged with crimes arising from an alleged plot to kidnap Governor Gretchen Whitmer and start a “civil war” had their bail amounts reduced on Wednesday.

Twin brothers Michael Null, 38, of Plainwell, and William Null, 38, of Shelbyville, appeared in County Antrim District Court for a status conference and hearing to determine whether the amount of their $ 250,000 bond would be reduced.

While County Antrim’s 86th District Judge Michael Stepka dismissed the bond reduction motions, he effectively reduced the bonds by adding a cash allowance or 10% bond. This means the Nulls can be released from jail pending trial if they are able to pay $ 25,000 with the backing of a surety agency.

The two are currently accused of providing material support for terrorist acts, punishable by up to 20 years in prison, and firearms, carrying a mandatory additional two years. from prison. They are housed at the Grand Traverse County Jail.

Related: The links between the men behind an alleged plot to kidnap Whitmer

The Null brothers are accused of participating in a foiled plot to remove Whitmer from his vacation home in County Antrim. They took part in military-style training exercises, planning meetings and acted as “lookouts” during the surveillance of the Whitmer vacation home in September, state police said.

(Top row, from left) Michael Null, 38, from Plainwell, Adam Dean Fox, 37, from Grand Rapids, Joseph Morrison, 26, Kaleb J. Franks, 26, Pete Musico, 42. (Bottom row, from left) Brandon Caserta, 32, William Null, 38, of Shelbyville, Eric Molitor, 36, of Cadillac, Ty G. Garbin, 24, Shawn Fix, 38, of Belleville and Daniel J Harris, 23. Two unrepresented suspects are Barry Croft of Delaware and Paul Bellar, 21, of Milford. This is a composite of 11 of 13 people accused of plotting to kidnap Democratic Governor of Michigan Gretchen Whitmer, authorities said Thursday, October 8, 2020, announcing charges in an alleged scheme that involved months of planning and even rehearsals to pull off Whitmer. from his vacation home.

The arrests in this case stem from a multi-state investigation that began in early 2020 and has led to the arrests of 14 people with links to a militia calling themselves the Wolverine Watchmen.

The Wolverine Watchmen were preparing for “boogalo,” a slang term used to refer to “a violent uprising against the government or an impending politically motivated civil war,” state police said in an affidavit supporting the criminal complaint against the Null brothers and others accused. .

The FBI first infiltrated the group using undercover informants, also members of the militia, who secretly recorded conversations and shared other information with law enforcement.

Between September 12 and September 13, the suspects in the case met at a property remote from Luther to conduct a weekend planning and training exercise, state police and the FBI said. During the rally, the suspects, including the Null brothers, separated in three vehicles and drove to the Whitmer holiday home nearly an hour and a half away to conduct a night watch mission, said the FBI in its federal complaint.

Federal and state law enforcement say the men were making very real plans to kidnap the governor, kill police, blow up a bridge and destroy Whitmer’s Lake Elk Rapids house in hopes of starting a civil war .

An MLive reporter had previously met William Null during a protest against the Civil War monument in Allendale Township, Ottawa County.

William Null, armed and standing alongside a man who identified himself as a member of the Michigan Liberty Militia, said he was counter-demonstrating efforts to remove the controversial statue in June.

“They get their education from the book ‘Mein Kampf’,” Null said at the time. “This is exactly what Hitler did before killing 6 million Jews. What is their intention? After destroying our country and destroying our nation and destroying our history, what is their goal after that? What 6 million people will they kill?

The Null brothers, Paul Bellar, 21, of Milford; Shawn Fix, 38, of Belleville; Eric Molitor, 36, of Cadillac; roommates Pete Musico, 42, and Joseph Morrison, 26, of Munith; and Brian Higgins, 51, of Wisconsin Dells, Wisconsin are charged with state crimes.

The alleged mastermind of the kidnapping plot, Adam Fox, 37, of Wyoming; Brandon Caserta, 33, of Canton; Daniel Harris, 23, of Lake Orion; Kaleb Franks, 26, of Waterford; Barry Croft of Delaware; Ty Garbin, 24, of Hartland Township faces federal charges.

Higgins and Musico have been released on bail. The other defendants remain in jail pending trial.

More on MLive:

Phantom weapons discovered in kidnapping plot investigation

Defense against citizen arrest is unlikely to fly

The links between the suspects in an alleged plot

Alleged kidnapping plot photos, video released

“Free Michigan,” Trump tweets

Whitmer said Trump incites ‘domestic terrorism’

City alarmed by the presence of a militia plot

Men trained with guns, explosives, neighbors say

Plan involved stranding Whitmer on boat, FBI said

Michigan sheriff accepts criticism of association with militia members, will not resign

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FACTBOX-What is China’s total social finance indicator? https://abwr.org/factbox-what-is-chinas-total-social-finance-indicator/ https://abwr.org/factbox-what-is-chinas-total-social-finance-indicator/#respond Thu, 08 Apr 2021 02:38:22 +0000 https://abwr.org/factbox-what-is-chinas-total-social-finance-indicator/ SHANGHAI, Nov. 13 (Reuters) – The “social totalfinancing ”(TSF), a liquidity measurement tool invented byBeijing in 2011, emerged as a better indicator ofmonetary than traditional measures of money supply. It was created to help Chinese leaders keep tabs onfundraising as the financial system diversifiedstate-controlled police loans. ** DEFINITION The TSF is an economic barometer which […]]]>

SHANGHAI, Nov. 13 (Reuters) – The “social total
financing ”(TSF), a liquidity measurement tool invented by
Beijing in 2011, emerged as a better indicator of
monetary than traditional measures of money supply.

It was created to help Chinese leaders keep tabs on
fundraising as the financial system diversified
state-controlled police loans.

** DEFINITION

The TSF is an economic barometer which sums up the total
fundraising by Chinese non-state entities, including
individuals and non-financial companies.

The TSF measures the money offered by national suppliers, mainly
by financial institutions, but also by Chinese households and
non-financial entities.

As such, it offers a view of both borrowers and lenders.

It excludes government bond products, which are used
for public expenditure and deficit coverage, as well as all
foreign-related items, such as foreign direct investment (FDI)
and debt abroad.

“The TSF is a concept of added money, indicating the total funds
the real economy obtained from the financial system on a
certain period of time, ”indicates the definition of the central bank.

** COMPONENTS

The TSF is divided into yuan loans from banks,
foreign exchange loans, trust loans, bank acceptance invoices, businesses
sales of bonds and shares of non-financial institutions.

People’s Bank of China (PBOC) requires banks to offer
loans in yuan based on official interest rates, although this year
left some leeway for banks to offer slightly divergent rates.

The central bank does not intervene directly in the fixing
interest rate for other types of products in the TSF.
However, the government can influence rates indirectly by
state banks, which play a major role as buyers of other
forms of debt and equity.

The central bank can also use open market operations tools
such as reverse repurchase agreements to guide the market
interest rate expectations.

(Reporting by Lu Jianxin and Pete Sweeney; Editing by John
Mayor)

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You don’t need charisma to be an inspiring leader https://abwr.org/you-dont-need-charisma-to-be-an-inspiring-leader/ https://abwr.org/you-dont-need-charisma-to-be-an-inspiring-leader/#respond Thu, 08 Apr 2021 02:38:13 +0000 https://abwr.org/you-dont-need-charisma-to-be-an-inspiring-leader/ Virtually all leaders want the power to inspire people to change. This is because every leader has had times when they identified a change that needed to be made, devised a great strategy to make it happen, but then struggled to get people in the new direction. The problem is, most leaders think that in […]]]>

Virtually all leaders want the power to inspire people to change. This is because every leader has had times when they identified a change that needed to be made, devised a great strategy to make it happen, but then struggled to get people in the new direction.

The problem is, most leaders think that in order to inspire other people, they have to exude the unusual charisma of someone like Steve Jobs, Martin Luther King, Jr., or John F. Kennedy. These inspiring examples don’t seem particularly relevant or achievable for leaders who aren’t trying to build the first iPhone, end racial segregation, or send someone to the moon. What if you were just trying to change the way your employees handle loans, manage a supply chain, or interact with customers?

There is an easier way to inspire change. In recent years, sociologists led by Todd Thrash have demystified the phenomenon of inspiration. Basically, inspiration is what happens when a person feels stimulated to bring a new idea to life after spontaneously realizing new possibilities. Bold visions of greatness and charismatic speeches are certainly a way to spark that feeling. But a few years ago we stumbled upon another path.

In a series of field experiments, my colleagues and I at Decision Pulse asked groups of managers from four different companies to anonymously submit the changes they decided to make in response to a change initiative. wider. We then asked the managers in each group to consult the list of decisions made by their colleagues, and to vote for the decision that had the most impact in their respective companies. After our experiences, a clear pattern emerged among the winning decisions. See if you can spot the winner in this picket set below among the officials at a health insurance company.

Decision A: “I addressed an employee relations issue through direct coaching and performance management rather than letting this customer service manager ignore the issue. “

Decision B: “I removed layers of security for the new customer portal, as it would slow down customer access. ”

Decision C: “I chose to present the company as the leader in good health not only for the current member, but for everyone. “

The three decisions illustrate good management and logical thinking. But decision B received overwhelmingly the most votes from other managers. In fact, none of the 19 reviewers in this experiment voted for decision A or decision C. What made decision B so special?

Decision B contained what I call a “missing piece of the puzzle”. In order to make sense of the world around us, our brain treats each situation like a puzzle that must be put together. When we put together a puzzle of “how a microwave works” or “what technicians do”, our brains store this puzzle in long-term memory. But these puzzles are fragile. When something unexpected happens, for example, if a microwave oven suddenly makes food colder instead of hotter, or if a tech geek intentionally removes layers of data security just to improve the experience customer, our brain senses that something is wrong. The microwave puzzle or techie puzzle suddenly misses a corner piece.

What happened next is the interesting part. A part of our brain called the anterior cingulate cortex (ACC) tells us about the error. Unsurprisingly, this error makes us uncomfortable. To protect us from that disgusting feeling that part of our world is no longer meaningful, our brain has developed an instinctive defense mechanism. Instead of trying to replace the missing piece in the “technician” puzzle, our brains compensate by reassembling new, unrelated puzzles.

Researchers Travis Proulx and Stephen Heine have repeatedly shown that even tiny disturbances of a relatively unimportant puzzle like “how a microwave works” can stimulate our brains’ ability to spot new patterns and see. new possibilities in other areas. For example, when your microwave unexpectedly chills food instead of reheating it, it can inspire an eye-opener about your marriage or your job or even your political views.

What Proulx and Heine discovered is that a missing puzzle piece not only makes us more motivated to see new possibilities, it makes us more qualified to see new connections and possibilities. (Perhaps this is why periods of intense creativity so often occur during the most tumultuous times in an artist’s life?)

This phenomenon is exactly what we have seen in our field studies. Before the first round of voting on the decisions of their peers, many managers said something like, “I really don’t see anything that I can change. I’m just in finance “or” I’m in the field, and it’s more of a business change so … “In other words,” I’m just going to keep doing what I’ve been doing. “

But then, after seeing the technician reduce data security or discovering that a plant manager was not prioritizing improvements in plant productivity just to increase supply chain efficiency, the other directors of the group suddenly saw new possibilities for change in their own areas of work.

During the next two sets of experiments, almost every other manager in each group began to make legitimate and creative change decisions. They saw new possibilities and began to exploit them. Simply put, they were inspired to change.

This inspiration did not come from big, hairy and daring goals, grandiose visions of the future, charismatic speeches, or displays of the innate genius or passion of their leaders. All it took was an awareness of someone else’s unexpected decision to shrink an old thing and make a new thing. This is something that every manager in every situation is capable of doing.

A decision to cancel football for a year is how a high school principal inspired a city in Texas to get creative to save their school. The decision to temporarily remove breakfast sandwiches from Starbucks stores is why Howard Schultz inspired employees to refocus on coffee. A decision to kill the cutting edge ‘Newton’ PDA in 1996 is how Steve Jobs inspired Apple engineers to start thinking differently on their way to one of the world’s most innovative product development cycles. story.

All of this means that change agents don’t need to be bright or charismatic to inspire change. If you can make a decision, you can inspire change.

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How many loans are still in forbearance? https://abwr.org/how-many-loans-are-still-in-forbearance/ https://abwr.org/how-many-loans-are-still-in-forbearance/#respond Thu, 08 Apr 2021 02:38:00 +0000 https://abwr.org/how-many-loans-are-still-in-forbearance/ The Mortgage Bankers Association’s (MBS) forbearance and call volume survey indicated that the total number of loans currently in forbearance fell to 6.87% from 6.93% the week before. The MBA estimates that 3.4 million owners are on a forbearance plan. Its forbearance and call volume survey covers the period September 14-20 and represents 74% of […]]]>

The Mortgage Bankers Association’s (MBS) forbearance and call volume survey indicated that the total number of loans currently in forbearance fell to 6.87% from 6.93% the week before. The MBA estimates that 3.4 million owners are on a forbearance plan. Its forbearance and call volume survey covers the period September 14-20 and represents 74% of the senior mortgage management market, or 37.1 million loans.

For the 16th week in a row, the share of Fannie Mae and Freddie Mac loans in abstention fell. This week showed an improvement of 9 basis points, as it fell to 4.46%.

Ginnie Mae’s forborne loans remained unchanged from the previous week at 9.15%.

The abstention share for portfolio loans and private securities (PLS) also remained stable at 10.52%. The loan forbearance percentage for depository agents decreased by 7 basis points to 7.11%, and the loan forbearance percentage for independent mortgage bank (IMB) agents decreased by 3 basis points to 7 , 23%.

Mike Fratantoni, senior vice president and chief economist of MBA, said the share of forborne loans is at levels not seen since mid-April.

“Many homeowners with GSE loans come out of forbearance in a deferral plan and resume their original mortgage payment, but wait to pay the renounced amount until the loan is over,” said Fratantoni. “However, the overall picture is still somewhat mixed. The recent increase in forbearance requests, especially for those with FHA or VA loans, leaves Ginnie Mae’s share high as the pace of new requests reaches or exceeds the pace of exits. “

Fratantoni added: “The continued labor market churn is likely preventing many homeowners who have shown forbearance from opting out, given the level of economic uncertainty.”

Here, MBA breaks down the numbers from the forbearance survey and call volume for the week of September 14-20:

  • Total forbearance loans decreased 6 basis points from the previous week: from 6.93% to 6.87%.
    • By type of investor, the share of Ginnie Mae loans in abstention remained stable compared to the previous week at 9.15%.
    • The share of Fannie Mae and Freddie Mac loans in forbearance decreased from the previous week: from 4.55% to 4.46%.
    • The share of other loans (eg portfolio loans and PLS loans) withheld remained stable compared to the previous week at 10.52%.
  • By stage, 30.26% of the total forbearance loans are at the initial stage of the forbearance plan, while 68.37% are in extension of forbearance. The remaining 1.37% is income from abstention.
  • The total weekly forbearance requests as a percentage of the service portfolio volume (#) increased compared to the previous week: from 0.10% to 0.11%.
  • Weekly volume of the service call center:
    • As a percentage of the volume of the service portfolio (#), calls fell from 6.9% to 8.3%.
    • Average response speed increased from 3.5 minutes to 3.0 minutes.
    • Drop-out rates fell from 7.0% to 6.9%.
    • The average call duration remained stable compared to the previous week at 7.8 minutes.
  • Forbidden loans in proportion to the volume of the management portfolio (#) as of September 20, 2020:
    • Total: 6.87% (previous week: 6.93%)
    • IMB: 7.23% (previous week: 7.26%)
    • Custodians: 7.11% (previous week: 7.18%)
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No charges in the death of Rhiana Daniel | Local https://abwr.org/no-charges-in-the-death-of-rhiana-daniel-local/ https://abwr.org/no-charges-in-the-death-of-rhiana-daniel-local/#respond Thu, 08 Apr 2021 02:37:41 +0000 https://abwr.org/no-charges-in-the-death-of-rhiana-daniel-local/ The pedestrian island had been damaged in an accident the previous August and, as a result, some light functions and activation buttons had been removed. However, other lights at the crosswalk remained in place. Support local journalism Your membership makes our reporting possible. {{featured_button_text}} Support local media coverage and those who report it by subscribing […]]]>

The pedestrian island had been damaged in an accident the previous August and, as a result, some light functions and activation buttons had been removed. However, other lights at the crosswalk remained in place.

Support local journalism

Your membership makes our reporting possible.

{{featured_button_text}}

Witnesses also described conditions that night as rainy, humid and “unusually dark”, and did not notice any problems with Eschwey driving as he headed south before the crash, wrote Michalowski.

Officers who interacted with Eschwey did not notice any signs of impairment, he had no alcohol in his system, and there is no conclusive evidence that he was distracted.

Eschwey was driving home from work and traveling at around 32-33 mph in the 25 mph zone, according to an assessment of video evidence by Detective Ty Volin of the Corvallis Police Department, a veteran officer with extensive training in investigating accidents. But Eschwey’s vehicle moved with the flow of traffic and it did not drive aggressively, witnesses said.

“The posted speed was 25 mph, but given the darkness and inclement weather conditions, the reasonable and prudent speed was a bit lower,” the letter reads. However, Volin determined that Eschey’s speed was not a glaring deviation from the standard driver on this stretch of road.

“In this case, the evidence is not sufficient to meet our onus of proving that Mr. Eschwey’s speed was a flagrant departure from the standard of care that a reasonable person would observe in the situation,” wrote Michalowski.

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Riot Blockchain’s Latest Financial Report Shows 2020 Growth https://abwr.org/riot-blockchains-latest-financial-report-shows-2020-growth/ https://abwr.org/riot-blockchains-latest-financial-report-shows-2020-growth/#respond Thu, 08 Apr 2021 02:37:14 +0000 https://abwr.org/riot-blockchains-latest-financial-report-shows-2020-growth/ Riot Blockchain recently released its annual financial report detailing the company’s business performance in 2020. The report found that the US-based block reward miner (NASDAQ: RIOT) increased its hashrate by 460% over the previous year. Despite halving BTC in the spring, the company more than doubled the amount of BTC held on its balance sheet […]]]>

Riot Blockchain recently released its annual financial report detailing the company’s business performance in 2020.

The report found that the US-based block reward miner (NASDAQ: RIOT) increased its hashrate by 460% over the previous year. Despite halving BTC in the spring, the company more than doubled the amount of BTC held on its balance sheet in 2020, from 514 BTC to 1078 BTC.

Total mining revenue generated by Riot in 2020 was $ 12 million, a substantial 78% year-over-year increase from the $ 6.7 million recorded in 2019. This improvement is due to an increase in the operational hash rate. Riot’s total computing power increased from 101 pentahashs per second (PH / s) in December 2019 to 566 PH / s as of December 31.

Overall, the company posted mixed results, reaching profitability in the fourth quarter with net income of $ 3.9 million on a GAAP basis, while still posting an overall net loss of $ 12.7 million. dollars for 2020. Nonetheless, this was an improvement from a year ago when it recorded a net loss of around $ 20 million in 2019.

Riot announced its cash and digital currency holdings from $ 11.3 million in 2019 to $ 235 million last year. He noted that he still depends on equity and debt financing to fund his operations, with his deficit falling from $ 221 million in the second quarter of 2020 to $ 299 million at the end of the fourth quarter.

One bright spot was Riot’s strong fourth-quarter performance of $ 0.16 per share, which beat Zacks’ consensus estimate of a loss of $ 0.08 per share. In the third quarter, they expected the company to record a loss of $ 0.08 per share when it actually produced a loss of $ 0.04, offering a 50% surprise.

Riot shares have jumped 213.5% year-to-date alongside other BTC-linked block reward mining companies. This illustrates the consumer demand for altcoins.

How the block rewards mining industry works is not how Bitcoin was designed to work. The press release does not mention the amount of commission income generated by transaction processing or growth measures in this area.

Infrastructure companies supporting the true Bitcoin blockchain, under the ticker symbol BSV, have turned to supporting corporate clients and a fee-based economy. This allows them to be better equipped to withstand a bearish market correction when the speculative bubble in the digital token markets bursts.

Infrastructure companies need to let go of their fixation on the reward of subsidies and mature their business model. That is, if their underlying principle remains to find a way for their business to continue and ultimately deliver as much value as possible to their shareholders. Otherwise, and short-term profits are all that matters, take advantage of the altcoin season and mining altcoins like BTC.

See also: Introducing Jerry Chan from TAAL to CoinGeek Live, The Shift from Bitcoin “Miners” to “Transaction Processors”

New to Bitcoin? Discover CoinGeek Bitcoin for beginners section, the ultimate resource guide to learning more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.

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What is the Consumer Credit Protection Act? | Personal finance https://abwr.org/what-is-the-consumer-credit-protection-act-personal-finance/ https://abwr.org/what-is-the-consumer-credit-protection-act-personal-finance/#respond Thu, 08 Apr 2021 02:36:44 +0000 https://abwr.org/what-is-the-consumer-credit-protection-act-personal-finance/ The 1960s are known to be an important period in the history of the United States. It was a period that ushered in many revolutionary legislative changes, such as the Civil Rights Act of 1964, the Medicare Act of 1965, and the Voting Rights Act of 1965. In the midst of these Revolutionary federal laws, […]]]>

The 1960s are known to be an important period in the history of the United States. It was a period that ushered in many revolutionary legislative changes, such as the Civil Rights Act of 1964, the Medicare Act of 1965, and the Voting Rights Act of 1965. In the midst of these Revolutionary federal laws, you’d be remiss to forget about consumer credit. Protection Act (LCPA).

Prior to the CCPA, consumers in the United States did not enjoy many rights in lending, debt collection, and credit reporting practices. Back then, lenders could (and often did) benefit consumers. They didn’t have to disclose the terms or costs of the loan up front, could charge outrageous interest rates, and could foreclose a large percentage of your paycheck if you didn’t pay off your debt as promised.

When the Consumer Credit Protection Act (CCPA) was passed in 1968, it aimed to protect consumers from these and other abusive practices. The law imposed restrictions on banks, credit card issuers, debt collectors, etc. The law introduced many guarantees that American consumers still enjoy today, more than 40 years after it was passed into federal law.

Over the years, Congress has passed more laws and brought them under the umbrella of the CCPA to help protect the financial lives of American consumers. The Fair Credit Reporting Act, the Equal Credit Opportunity Act, and the Fair Debt Collection Practices Act, along with a number of others, are included in this list.

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Job explosion report could push stocks higher in coming week https://abwr.org/job-explosion-report-could-push-stocks-higher-in-coming-week/ https://abwr.org/job-explosion-report-could-push-stocks-higher-in-coming-week/#respond Wed, 07 Apr 2021 23:17:43 +0000 https://abwr.org/job-explosion-report-could-push-stocks-higher-in-coming-week/ Traders work on the floor of the New York Stock Exchange. NYSE April started off with a rally and the market could continue to post gains during the month, strategists say. The US Department of Labor’s surprisingly strong employment report on Friday showed there were 916,000 jobs added in March, compared to the 675,000 expected […]]]>

Traders work on the floor of the New York Stock Exchange.

NYSE

April started off with a rally and the market could continue to post gains during the month, strategists say.

The US Department of Labor’s surprisingly strong employment report on Friday showed there were 916,000 jobs added in March, compared to the 675,000 expected by economists.

The coming week should be fairly quiet, with a few economic reports and Federal Reserve speakers filling the lull ahead of earnings season.

The Institute for Supply Management’s service sector survey will be released next Monday and should be given special attention after the Institute’s manufacturing survey hits its highest level since 1983. The Minutes of the last Federal Reserve meeting will be released next Wednesday afternoon.

“Literally almost everything should be very robust for the foreseeable future, I think. We’re coming out of a low base,” said Stephen Stanley, chief economist at Amherst Pierpont.

Economists expect a very strong second quarter as the economy reopens and stimulus spending begins, which should be positive for stocks unless interest rates rise too quickly.

Major stock indexes were up sharply as the schedule rolled out in April.

On Thursday, the S&P 500 rose 1.2% to a new high of 4,019.87. Meanwhile, the Dow Jones Industrial Average climbed more than 170 points and the technology-heavy Nasdaq Composite jumped 1.8%.

The closely watched 10-year Treasury benchmark yield was above 1.68% on Friday morning, well below the recent high of 1.77% reached earlier in the week.

The 10-year is important because it influences mortgages and other loans, but recently it has also recently had a negative correlation with technology stocks. When the 10-year yield increased slightly, the technology went down.

All eyes on the gains

“The macro schedule is pretty light. I think the focus will shift to earnings fairly quickly,” said Shawn Snyder, head of investment strategy at Citi US Wealth Management. “It will be the next thing to turn to.”

He said the market is often weaker just before earnings season.

First-quarter profits are expected to be up 24.2% year-on-year, according to Refinitiv. This will be the first quarter where the results of the previous year included the impact of the end of the pandemic.

Some strategists expect the earnings season to be accompanied by more favorable comments from companies that could lead to positive forecast revisions, fueling the stock market.

“About 13 months ago, COVID-19 kicked us out of our desks and our kids out of school. As the pandemic nearly crippled the global economy, an unprecedented political response has kept the economy afloat, resulting in the shortest drop in the recession and the largest stock market rebound in history, ”noted Jonathan Golub, chief US equities strategist at Credit Suisse.

Golub said the S&P 500’s 78% rise from its low last March was largely due to earnings.

“In each of the last two periods of recovery, the trend of positive revisions has lasted 2-3 years, providing significant tailwind for the market,” he wrote in a note.

He added that economists continued to revise growth forecasts upwards.

“Our work shows that every 1% change in GDP results in a 2½ to 3% change in income and even greater improvements in profits,” Golub wrote.

April is far from the cruelest month

Aside from an expected rebound in earnings, some strategists expected April to be a bullish period for stocks, as it has historically been.

Tom Lee, managing partner of Fundstrat, for example, points to the decline of the VIX, the Chicago Board Options Exchange’s volatility index, to pre-pandemic levels and says it’s constructive for stocks.

The VIX is calculated on the basis of the puts and calls of the S&P 500, traded on the CBOE.

Lee also noted that when the market closes higher on March 31, the last day of the first quarter, and again on April 1, the first day of the second quarter, the market performed better in April than usual.

Since World War II, when those two days were positive, the S&P 500 has risen on average 2.4% in April, up from its usual 1.3% gain, Lee said.

“The main thing is that it is [a] positive environment and risk / return for equities. This allows us to remain constructive, “he wrote in a note.

Sam Stovall, chief investment strategist at CFRA, said the market enters April and the second quarter with a tailwind.

“April is generally good. It is the best month in terms of average price change. The second quarter is not a bad quarter on average. It is up 2.8% on average since 1990, and the 11 sectors posted average gains, ”he said.

Stovall said some of the cyclical stocks may have gotten ahead and energy, industrials and financials may take a break. These sectors outperformed while technology lagged behind.

The market enters the “May sell” period in the second quarter. The market adage, “sell in May and go,” is based on the idea that stocks tend to underperform from May to October.

“During that selling period in May, the technology has been doing quite well. Now is probably not the time to start bailing out the technology,” Stovall said. “Tech could end up receiving a short term reprieve.”

Fed in advance

The Federal Reserve will release the minutes of its last meeting on Wednesday afternoon, and investors will review them for any further comments on inflation. With the prices of fuel and other commodities already on the rise, investors fear that more stimulus will push up inflation.

Fed Chairman Jerome Powell said after the March meeting that the Fed viewed inflationary pressures as transient, but markets still fear it could become a bigger problem. Inflation is currently well below the Fed’s 2% target.

The Producer Price Index – which measures the average change in prices received by domestic producers for their production – will also be closely watched when released on Friday.

As for Fed speakers, Powell is expected to discuss the global economy on Thursday at an International Monetary Fund panel, which will be moderated by Sara Eisen of CNBC.

Other central bank speakers include Chicago Fed Chairman Charles Evans, who speaks Tuesday and Wednesday, and Richmond Fed Chairman, Tom Barkin, who speaks Wednesday.

Treasury Secretary Janet Yellen speaks Monday during a Chicago Council on Global Affairs webinar on economic recovery Monday.

Calendar for the upcoming week

On Monday

10:00 Factory orders

10:00 am Non-manufacturing data from the Institute for Supply Management

11:00 a.m. Secretary of the Treasury Janet Yellen at the Chicago Council on Global Affairs

Tuesday

10h00 JOLTS job offers

4:05 p.m. Chicago Fed Chairman Charles Evans

Wednesday

8:30 a.m. Trade balance

9:00 am Evans of the Chicago Fed

11:00 am Dallas Fed Chairman Rob Kaplan

12:00 p.m. Richmond Fed President Tom Barkin

2:00 p.m. Minutes of the Federal Open Market Committee

3:00 p.m. Consumer credit

Thursday

8:30 am Unemployment claims

11:00 a.m. Saint-Louis Fed President James Bullard

12:00 p.m. Fed Chairman Jerome Powell discusses the economy at International Monetary Fund panel

Friday

8:30 am Producer price index

10:00 a.m. Inventories of wholesalers

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The proposed $ 50 million project would bring apartments and businesses to the Bimini Basin in Cape Coral https://abwr.org/the-proposed-50-million-project-would-bring-apartments-and-businesses-to-the-bimini-basin-in-cape-coral/ https://abwr.org/the-proposed-50-million-project-would-bring-apartments-and-businesses-to-the-bimini-basin-in-cape-coral/#respond Wed, 07 Apr 2021 23:17:42 +0000 https://abwr.org/the-proposed-50-million-project-would-bring-apartments-and-businesses-to-the-bimini-basin-in-cape-coral/ CORAL CAP A project in gestation for years is getting closer to reality. A proposed Bimini Basin project would bring apartments, shops, parking and a waterfront restaurant to Cape Coral. It still needs funding and development approval from the city. The community redevelopment agency signed the letter of intent on Tuesday. The potentially developing land […]]]>

CORAL CAP

A project in gestation for years is getting closer to reality.

A proposed Bimini Basin project would bring apartments, shops, parking and a waterfront restaurant to Cape Coral. It still needs funding and development approval from the city.

The community redevelopment agency signed the letter of intent on Tuesday.

The potentially developing land has been left empty for years, and while some people are thrilled to see it turn into something, others are skeptical.

The Bimini Basin attracts boaters and fishermen from all over the country.

“It’s a great place,” said Alan Waterman. “We love it here.”

“We really like it. It’s really cool, ”said Kenny Back, from Indiana. “It’s a little busier than I expected which is a good thing. Law?”

The basin could become busier with a proposed $ 50 million development. A developer in North Dakota offers 185 apartments, a parking garage, retail space and a waterfront restaurant. A dock and launching ramps are also part of the design.

“I think it would help a lot because it’s an older area and needs a newer feel,” said Kevin Hodges, from Indiana.

“I think it would be nice to expand for sure, and that’s the area already,” Back said. “Like I said, it’s already pretty well developed. It’s not like you’re developing a wildlife preserve.

Construction is expected to create more than 500 jobs.

“Anything that gives people jobs or something like that, I think that’s a plus for the community,” Hodges said. “It’s been wasteland for a long time, so it will only help the trade.”

But people who live next to the vacant lot are not sure what type of living space.

“One hundred and eighty apartments is not what I think anyone in this area is really going to want,” Waterman said. “It’s a neighborhood of condos. People own their place.

If everything is approved by the city, the tentative break schedule would be late spring 2022.

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