This document summarizes a report by the California Reinvestment Coalition about the financial divide between lower-income communities and wealthier neighborhoods in California. It finds that lower-income neighborhoods have many check cashers and payday lenders charging high fees, while having few bank branches, due to banks removing branches from these communities. It also finds that mainstream banks provide significant financing to check cashers and payday lenders, profiting from these high-cost lenders while not providing affordable services to these communities themselves. Overall, it estimates that high fees from check cashers and payday lenders cost California residents over $5 billion per year.
Bank of America issues a $500 million "Green Bond" to finance green investments that help address climate change and advance lower-carbon solutions. The bank also partners with (RED) to donate funds toward eliminating mother-to-child HIV transmission, and makes a $10 million investment to empower women in developing countries through access to financing and healthcare. However, the bank faces challenges such as being sued for misleading clients about risk and making a $4 billion capital reporting error.
Wisconsin Stateof Philanthropy Report 2009 by DFWlitlelady9
Donors Forum of Wisconsin has released the first-ever Wisconsin State of Philanthropy Report highlighting the changes in the state’s philanthropic landscape.
The report provides a detailed looked at grantmaking in Wisconsin as well as a deeper look into how philanthropy is practiced in the state. The report on giving will enhance grantmakers’ ability to tell their giving stories, highlights the impact of Wisconsin’s grantmaking community, and accurately depicts the scope, diversity, and depth of Wisconsin philanthropy.
Rural households in Mexico frequently borrow small amounts of credit to bridge expenses between income payments like Prospera benefits. These households schedule their borrowing around the timing of Prospera payments, taking loans before payments are received and repaying promptly when funds arrive. While important for managing cash flow, this frequent borrowing likely strains household budgets. The document calls for improved specialized credit options for expenses like health costs, education, and housing to help vulnerable families better afford necessities and investments.
This document analyzes home mortgage and small business lending patterns in Baltimore City and surrounding counties. It finds that in Baltimore City, the racial composition of neighborhoods is the strongest predictor of lending levels, with majority-white neighborhoods receiving significantly more lending than majority-black neighborhoods. In contrast, in the surrounding counties, economic factors like income and homeownership rates are better predictors of lending. The report concludes that disinvestment has left many Baltimore City neighborhoods, especially majority-black areas, as "islands of decay" surrounded by thriving communities in the counties seeing more lending activity.
As who lives in our rural communities changes, so too are the way these communities support themselves. As tax dollars shrink, the philanthropy community is finding itself being asked to play a bigger role.
The document summarizes a new report on charitable giving in Maryland that found as the wealth of Maryland residents has grown, so too has their generosity. Some key findings of the report include that in 2002, Maryland residents donated 2.9% of their adjusted gross income to charity, ranking Maryland 5th in wealth and 7th in charitable giving as a percentage of income. However, the report unexpectedly found that having a large population of baby boomers negatively impacted giving levels.
Bank of America issues a $500 million "Green Bond" to finance green investments that help address climate change and advance lower-carbon solutions. The bank also partners with (RED) to donate funds toward eliminating mother-to-child HIV transmission, and makes a $10 million investment to empower women in developing countries through access to financing and healthcare. However, the bank faces challenges such as being sued for misleading clients about risk and making a $4 billion capital reporting error.
Wisconsin Stateof Philanthropy Report 2009 by DFWlitlelady9
Donors Forum of Wisconsin has released the first-ever Wisconsin State of Philanthropy Report highlighting the changes in the state’s philanthropic landscape.
The report provides a detailed looked at grantmaking in Wisconsin as well as a deeper look into how philanthropy is practiced in the state. The report on giving will enhance grantmakers’ ability to tell their giving stories, highlights the impact of Wisconsin’s grantmaking community, and accurately depicts the scope, diversity, and depth of Wisconsin philanthropy.
Rural households in Mexico frequently borrow small amounts of credit to bridge expenses between income payments like Prospera benefits. These households schedule their borrowing around the timing of Prospera payments, taking loans before payments are received and repaying promptly when funds arrive. While important for managing cash flow, this frequent borrowing likely strains household budgets. The document calls for improved specialized credit options for expenses like health costs, education, and housing to help vulnerable families better afford necessities and investments.
This document analyzes home mortgage and small business lending patterns in Baltimore City and surrounding counties. It finds that in Baltimore City, the racial composition of neighborhoods is the strongest predictor of lending levels, with majority-white neighborhoods receiving significantly more lending than majority-black neighborhoods. In contrast, in the surrounding counties, economic factors like income and homeownership rates are better predictors of lending. The report concludes that disinvestment has left many Baltimore City neighborhoods, especially majority-black areas, as "islands of decay" surrounded by thriving communities in the counties seeing more lending activity.
As who lives in our rural communities changes, so too are the way these communities support themselves. As tax dollars shrink, the philanthropy community is finding itself being asked to play a bigger role.
The document summarizes a new report on charitable giving in Maryland that found as the wealth of Maryland residents has grown, so too has their generosity. Some key findings of the report include that in 2002, Maryland residents donated 2.9% of their adjusted gross income to charity, ranking Maryland 5th in wealth and 7th in charitable giving as a percentage of income. However, the report unexpectedly found that having a large population of baby boomers negatively impacted giving levels.
Maximize your time and grant seeking effort with insider information about which funders will or won’t have grant money to give in 2011. Renee will share information with you that she has learned from her grant maker colleagues — information that is not on funder websites. Also, find out about funding trends for the next few years to help you position your organization and plan for the future.
This document summarizes the key findings of a report by Elizabeth Kneebone and Alan Berube on confronting suburban poverty in the Chicago region. It finds that the geography of poverty has shifted substantially to suburbs, with over half of the region's poor now living in suburban areas. However, current policies are not well-aligned to address the challenges of suburban poverty, such as limited access to services, fragmented governance, and inflexible funding. The report calls for a new agenda focused on achieving scale for solutions, collaborating across boundaries, and funding strategies that leverage both public and private resources to create opportunities in metropolitan regions.
Fall 2010 Intro to Resource DevelopmentACCION East
ACCION USA is a nonprofit organization that provides microloans and financial education to low- and moderate-income individuals, especially minorities and women, who lack access to traditional financial services. It has lent over $121 million to more than 19,300 borrowers nationwide since 1991. ACCION USA raises funds through grants, donations from corporations fulfilling community investment requirements, foundations, individuals, and governments to support its lending programs and expansion efforts.
The St. Louis Regional Unbanked Task Force announced that it has had over $1 million in economic impact by connecting consumers to mainstream financial services. The task force reported connecting 1,600 previously unbanked individuals to bank accounts, with a 96% retention rate. Its goal is to reach 20,000 households in two years through partnerships with banks and nonprofits. Treasurer Tishaura Jones spoke at the event announcing the task force's progress in bringing financial stability to St. Louis families.
Lennie's Restaurant in Bloomington, Indiana celebrated its 20th anniversary by donating all sales over a 3 day period to three local charities: Hoosier Hills Food Bank, WonderLab children's museum, and Stone Belt which assists people with disabilities. The event was a huge success, with $23,000 in sales raising $8,700 for each charity. It benefited both the restaurant and charities by increasing community engagement and awareness of their missions.
Atlanta Regional Housing Forum, Alan BerubeBrookingsMetro
The document summarizes the key points made in a report by Alan Berube of the Brookings Institution on confronting suburban poverty in the Atlanta region. It notes that poverty has increasingly shifted to the suburbs, where the poor population doubled in Atlanta's suburbs between 2000-2010. However, current anti-poverty policies and programs are not well-aligned with this new suburban geography of poverty. The document calls for a new agenda focused on regional solutions that achieve scale, collaborate across boundaries, and fund strategies in a more strategic metropolitan-wide manner.
Cook County sues Wells Fargo, alleges predatory lending (News Item)CookCountyPLACEMATTERS
Cook County has filed a federal lawsuit against Wells Fargo alleging unfair, predatory lending practices that violated the Fair Housing Act. The lawsuit claims Wells Fargo targeted minority communities like Latinos and African Americans to steer them into high-cost, subprime loans. This "equity stripping" increased the risk of foreclosure. Wells Fargo denies the accusations and says it will vigorously defend its practices, noting programs to assist homeowners in Chicago. However, Cook County alleges discriminatory conduct continues despite previous settlements over similar issues.
Rebecca Gaskin Gain is an attorney and consultant with more than three decades of international experience. A member of the board of directors for CBZ Holdings, Zimbabwe’s largest lending institution, Rebecca Gaskin Gain stays informed of current trends and topics in the financial world.
The current pandemic has taken a toll on the personal finances of a vast majority of Americans. According to a recent doxoINSIGHTS Bills Pay Impact Report, which collected data from 1,568 sampled households, 42 percent of the country’s consumers have missed a bill payment, while 39 percent believe they will miss a payment in the future.
Around a quarter of missed payments were for car loans or utilities such as Internet and cable. Of greater concern is the 20 percent of Americans who have skipped a rent or mortgage payment. Twenty-eight percent say it is likely they will miss a payment in the future. On the other hand, only one-tenth of Americans have missed a health insurance payment, indicating that personal health during a pandemic is a priority.
This document explores the feasibility of establishing affordable housing cooperatives in Milwaukee for low and moderate income residents. Key findings from a preliminary market analysis show that median income in Milwaukee County fell by 10.3% from 2005 to 2014. Over half of occupied homes in the city of Milwaukee are renter-occupied. The document recommends that affordable housing cooperatives cater to families overburdened by housing costs, especially women of color with children. Locating cooperatives in areas with economic need for subsidized housing could help address Milwaukee's shortage of affordable options.
1. The document is an action alert from Rainforest Action Network (RAN) targeting JP Morgan Chase for its investments in environmentally destructive companies.
2. RAN is calling on activists to write letters to JP Morgan Chase's CEO urging the bank to adopt environmental safeguards and stop profiting from activities that damage forests and violate human rights.
3. The alert also summarizes RAN campaigns pressuring other companies like Ford and FedEx Kinko's to adopt greener practices.
2014_Philanthropy and Hurricane Sandy_Steven LawrenceSteven Lawrence
Institutional philanthropies provided over $380 million in response to Hurricane Sandy, including $328.4 million in cash commitments from 593 foundations, corporations, and other donors. Corporate giving accounted for the largest share at $136.4 million, while public foundations contributed $131.1 million. Funding focused heavily on human services (44%) and housing (11%). New York and New Jersey received nearly half the funding, while the American Red Cross received 23% of support overall.
This document provides an overview of non-profit public relations. It discusses that non-profits serve the public interest rather than generating profit. It also notes that the majority of non-profits' income comes from individual contributions rather than corporations or foundations. The document outlines that non-profit public relations differs from traditional public relations in its focus on recruiting and engaging volunteers. It also describes various types of non-profits including advocacy groups, social service organizations, and discusses common fundraising and communication strategies used.
The document discusses the performance of pension plans globally and in various countries and sectors. It finds that many pension funds, both public and private, are underfunded or facing shortfalls. This could result in less money being paid out to pensioners. Both public and private sectors are moving away from traditional defined benefit plans to defined contribution plans. The worldwide pension crisis poses funding challenges as economic growth has been slower than expected.
The document discusses the impacts of the economic crisis and the federal stimulus package. It summarizes that big banks caused the crisis through risky lending practices. The stimulus package helped stop job losses, support state budgets, and fund projects that helped the economic recovery. However, stimulus money for states is ending and large deficits face states in 2011, which could undermine the recovery without further federal aid. The document argues for organizing support to request more federal funding.
I am sure You Didn’t Know About these 5 Credit Card Facts
Instructions to Lower Interest Rates on Credit Cards
More than 167 million American grown-ups have no less than one Visa. That is 70% of all buyers managing month to month charge card bills and diverse Visa benefits, expenses, loan fees, and reward programs. Charge cards have turned into a piece of the vast majority of our ways of life. However, when and why did we as a whole begin paying with plastic? Here are 5 truths that assistance clarify why and how Visas have come to assume such a critical part in our lives today.
1. American Express Was the First Plastic Credit Card
American Express begun as an expedited delivery business in 1850, however extended to a money related administration super organization by the mid twentieth century. Cafes Club had really presented their Mastercard (travel and excitement card) years before American Express and charged a $5 yearly expense. American Express propelled their form of the Visa in 1958, however charged a $6 yearly expense to look after eliteness. The paper card highlighted a purple ink plan that looked like their explorers checks. After a year, they began to change over their cards to plastic. Burger joints Club went with the same pattern in 1961 and, from there on, the Mastercard was plastic.
यह भी पढ़ें :- घर में बनाये जिंजर लेमन बीयर और दूर करे कैंसर और गठिया जैसी खतरनाक बीमारियों को
यह भी पढ़ें :- जानिये अगर कुछ दिन नमक न खाए तो इसका सेहत पर क्या असर पड़ेगा
2. Christmas Thieves Prompted Government Credit Card Regulation
Bank Mastercards had not been famous in the 1960s, along these lines, in a joint exertion, the city's banks had sent a large number of spontaneous charge cards to homes in and around Chicago without a moment to spare for Christmas shopping in 1966. Not at all like Mastercards conveyed today, every one of the cards were at that point dynamic and did not require anything other than rather a mark at buy to utilize. Crooks crosswise over Chicago stole a large number of bank Mastercards from the mail station and the letter drops of multifamily homes and flats. They charged a huge number of dollars on the stolen cards at retailers over the city. Chicago banks lost an expected $6 to $12 million dollars ($43 to $85 million today) in fake Christmas shopping buys.
Federal Reserve Beige Book for March 6, 2013 - Current Economic ConditionsMarcellus Drilling News
The "Beige Book" issued every two months by the Federal Reserve. This edition (dated March 6, 2013) highlights expanding shale drilling in regions III and IV as one of the reasons for economic expansion in those regions. The Marcellus Shale in Pennsylvania is specifically identified as a major economic force in the northeast.
This document summarizes trends in the club industry based on a presentation given in 2011. It discusses the economic outlook and impact on consumer spending, noting consumers are more budget conscious. Demographic trends like an aging population are also discussed. Specific to clubs, many increased membership marketing and saw more trial memberships in response to the economy. The document also reviews trends in areas like food and beverage, golf, and membership costs and incomes for country and city clubs.
THE SYMBOLIC MEANING OF MONEY AND NEGOTIATION IMPASSEVictoria Pynchon
The document discusses how money carries symbolic meaning and emotional value beyond its rational economic value. It can represent responsibility, sympathy, community obligations, and express societal norms. Mediators should be aware of these deeper meanings when parties assign monetary values to harms and how narratives around money can shift to resolve disputes or prevent impasse. The mediator's goal is to interrupt cycles of blame and change the conflict narrative to one with alternative interpretations that recognize common ground.
Globální studie Havas Worldwide: Lidé kupují více od odpovědných firemMarketingSalesMedia
Studie agentury Havas probíhá v České republice a dalších třiceti zemích světa. Tentokrát se zaměřila na tzv. názorové vůdce, neboli "prosumery", kteří jsou mj. ochotní utratit víc za produkty, které jsou šetrné k přírodě či společnosti. Studie ukazuje, že nyní většina lidí začíná takto uvažovat a jednat.
The document discusses different approaches to analyzing texts and theories of translation. It notes that most translation theories focus on the translation as a product, examine the context and purpose of the translation, or analyze the psychology of the translation process. Partial theories of translation can be restricted based on the medium, languages/cultures, level of text (word, sentence, full text), text genre, time period, or specific translation problems. Newmark proposes a semantic or communicative translation approach focused on the transmitter/receiver, culture, time and origin, relationship to the source text, and form in the source and target languages.
Presentation of the DigiWorld Yearbook 2012 in London - Guest of honor: Olaf ...IDATE DigiWorld
Presentation of the DigiWorld Yearbook 2012 in London with:
- François Barrault, IDATE's chairman
- Yves Gassot, CEO IDATE
- Jean-Michel Chapon, Vice-Chairman DigiWorld UK
- Vincent Bonneau, Internet Business Unit IDATE
Guest of honor: Olaf Swantee, CEO Everything Everywhere
Maximize your time and grant seeking effort with insider information about which funders will or won’t have grant money to give in 2011. Renee will share information with you that she has learned from her grant maker colleagues — information that is not on funder websites. Also, find out about funding trends for the next few years to help you position your organization and plan for the future.
This document summarizes the key findings of a report by Elizabeth Kneebone and Alan Berube on confronting suburban poverty in the Chicago region. It finds that the geography of poverty has shifted substantially to suburbs, with over half of the region's poor now living in suburban areas. However, current policies are not well-aligned to address the challenges of suburban poverty, such as limited access to services, fragmented governance, and inflexible funding. The report calls for a new agenda focused on achieving scale for solutions, collaborating across boundaries, and funding strategies that leverage both public and private resources to create opportunities in metropolitan regions.
Fall 2010 Intro to Resource DevelopmentACCION East
ACCION USA is a nonprofit organization that provides microloans and financial education to low- and moderate-income individuals, especially minorities and women, who lack access to traditional financial services. It has lent over $121 million to more than 19,300 borrowers nationwide since 1991. ACCION USA raises funds through grants, donations from corporations fulfilling community investment requirements, foundations, individuals, and governments to support its lending programs and expansion efforts.
The St. Louis Regional Unbanked Task Force announced that it has had over $1 million in economic impact by connecting consumers to mainstream financial services. The task force reported connecting 1,600 previously unbanked individuals to bank accounts, with a 96% retention rate. Its goal is to reach 20,000 households in two years through partnerships with banks and nonprofits. Treasurer Tishaura Jones spoke at the event announcing the task force's progress in bringing financial stability to St. Louis families.
Lennie's Restaurant in Bloomington, Indiana celebrated its 20th anniversary by donating all sales over a 3 day period to three local charities: Hoosier Hills Food Bank, WonderLab children's museum, and Stone Belt which assists people with disabilities. The event was a huge success, with $23,000 in sales raising $8,700 for each charity. It benefited both the restaurant and charities by increasing community engagement and awareness of their missions.
Atlanta Regional Housing Forum, Alan BerubeBrookingsMetro
The document summarizes the key points made in a report by Alan Berube of the Brookings Institution on confronting suburban poverty in the Atlanta region. It notes that poverty has increasingly shifted to the suburbs, where the poor population doubled in Atlanta's suburbs between 2000-2010. However, current anti-poverty policies and programs are not well-aligned with this new suburban geography of poverty. The document calls for a new agenda focused on regional solutions that achieve scale, collaborate across boundaries, and fund strategies in a more strategic metropolitan-wide manner.
Cook County sues Wells Fargo, alleges predatory lending (News Item)CookCountyPLACEMATTERS
Cook County has filed a federal lawsuit against Wells Fargo alleging unfair, predatory lending practices that violated the Fair Housing Act. The lawsuit claims Wells Fargo targeted minority communities like Latinos and African Americans to steer them into high-cost, subprime loans. This "equity stripping" increased the risk of foreclosure. Wells Fargo denies the accusations and says it will vigorously defend its practices, noting programs to assist homeowners in Chicago. However, Cook County alleges discriminatory conduct continues despite previous settlements over similar issues.
Rebecca Gaskin Gain is an attorney and consultant with more than three decades of international experience. A member of the board of directors for CBZ Holdings, Zimbabwe’s largest lending institution, Rebecca Gaskin Gain stays informed of current trends and topics in the financial world.
The current pandemic has taken a toll on the personal finances of a vast majority of Americans. According to a recent doxoINSIGHTS Bills Pay Impact Report, which collected data from 1,568 sampled households, 42 percent of the country’s consumers have missed a bill payment, while 39 percent believe they will miss a payment in the future.
Around a quarter of missed payments were for car loans or utilities such as Internet and cable. Of greater concern is the 20 percent of Americans who have skipped a rent or mortgage payment. Twenty-eight percent say it is likely they will miss a payment in the future. On the other hand, only one-tenth of Americans have missed a health insurance payment, indicating that personal health during a pandemic is a priority.
This document explores the feasibility of establishing affordable housing cooperatives in Milwaukee for low and moderate income residents. Key findings from a preliminary market analysis show that median income in Milwaukee County fell by 10.3% from 2005 to 2014. Over half of occupied homes in the city of Milwaukee are renter-occupied. The document recommends that affordable housing cooperatives cater to families overburdened by housing costs, especially women of color with children. Locating cooperatives in areas with economic need for subsidized housing could help address Milwaukee's shortage of affordable options.
1. The document is an action alert from Rainforest Action Network (RAN) targeting JP Morgan Chase for its investments in environmentally destructive companies.
2. RAN is calling on activists to write letters to JP Morgan Chase's CEO urging the bank to adopt environmental safeguards and stop profiting from activities that damage forests and violate human rights.
3. The alert also summarizes RAN campaigns pressuring other companies like Ford and FedEx Kinko's to adopt greener practices.
2014_Philanthropy and Hurricane Sandy_Steven LawrenceSteven Lawrence
Institutional philanthropies provided over $380 million in response to Hurricane Sandy, including $328.4 million in cash commitments from 593 foundations, corporations, and other donors. Corporate giving accounted for the largest share at $136.4 million, while public foundations contributed $131.1 million. Funding focused heavily on human services (44%) and housing (11%). New York and New Jersey received nearly half the funding, while the American Red Cross received 23% of support overall.
This document provides an overview of non-profit public relations. It discusses that non-profits serve the public interest rather than generating profit. It also notes that the majority of non-profits' income comes from individual contributions rather than corporations or foundations. The document outlines that non-profit public relations differs from traditional public relations in its focus on recruiting and engaging volunteers. It also describes various types of non-profits including advocacy groups, social service organizations, and discusses common fundraising and communication strategies used.
The document discusses the performance of pension plans globally and in various countries and sectors. It finds that many pension funds, both public and private, are underfunded or facing shortfalls. This could result in less money being paid out to pensioners. Both public and private sectors are moving away from traditional defined benefit plans to defined contribution plans. The worldwide pension crisis poses funding challenges as economic growth has been slower than expected.
The document discusses the impacts of the economic crisis and the federal stimulus package. It summarizes that big banks caused the crisis through risky lending practices. The stimulus package helped stop job losses, support state budgets, and fund projects that helped the economic recovery. However, stimulus money for states is ending and large deficits face states in 2011, which could undermine the recovery without further federal aid. The document argues for organizing support to request more federal funding.
I am sure You Didn’t Know About these 5 Credit Card Facts
Instructions to Lower Interest Rates on Credit Cards
More than 167 million American grown-ups have no less than one Visa. That is 70% of all buyers managing month to month charge card bills and diverse Visa benefits, expenses, loan fees, and reward programs. Charge cards have turned into a piece of the vast majority of our ways of life. However, when and why did we as a whole begin paying with plastic? Here are 5 truths that assistance clarify why and how Visas have come to assume such a critical part in our lives today.
1. American Express Was the First Plastic Credit Card
American Express begun as an expedited delivery business in 1850, however extended to a money related administration super organization by the mid twentieth century. Cafes Club had really presented their Mastercard (travel and excitement card) years before American Express and charged a $5 yearly expense. American Express propelled their form of the Visa in 1958, however charged a $6 yearly expense to look after eliteness. The paper card highlighted a purple ink plan that looked like their explorers checks. After a year, they began to change over their cards to plastic. Burger joints Club went with the same pattern in 1961 and, from there on, the Mastercard was plastic.
यह भी पढ़ें :- घर में बनाये जिंजर लेमन बीयर और दूर करे कैंसर और गठिया जैसी खतरनाक बीमारियों को
यह भी पढ़ें :- जानिये अगर कुछ दिन नमक न खाए तो इसका सेहत पर क्या असर पड़ेगा
2. Christmas Thieves Prompted Government Credit Card Regulation
Bank Mastercards had not been famous in the 1960s, along these lines, in a joint exertion, the city's banks had sent a large number of spontaneous charge cards to homes in and around Chicago without a moment to spare for Christmas shopping in 1966. Not at all like Mastercards conveyed today, every one of the cards were at that point dynamic and did not require anything other than rather a mark at buy to utilize. Crooks crosswise over Chicago stole a large number of bank Mastercards from the mail station and the letter drops of multifamily homes and flats. They charged a huge number of dollars on the stolen cards at retailers over the city. Chicago banks lost an expected $6 to $12 million dollars ($43 to $85 million today) in fake Christmas shopping buys.
Federal Reserve Beige Book for March 6, 2013 - Current Economic ConditionsMarcellus Drilling News
The "Beige Book" issued every two months by the Federal Reserve. This edition (dated March 6, 2013) highlights expanding shale drilling in regions III and IV as one of the reasons for economic expansion in those regions. The Marcellus Shale in Pennsylvania is specifically identified as a major economic force in the northeast.
This document summarizes trends in the club industry based on a presentation given in 2011. It discusses the economic outlook and impact on consumer spending, noting consumers are more budget conscious. Demographic trends like an aging population are also discussed. Specific to clubs, many increased membership marketing and saw more trial memberships in response to the economy. The document also reviews trends in areas like food and beverage, golf, and membership costs and incomes for country and city clubs.
THE SYMBOLIC MEANING OF MONEY AND NEGOTIATION IMPASSEVictoria Pynchon
The document discusses how money carries symbolic meaning and emotional value beyond its rational economic value. It can represent responsibility, sympathy, community obligations, and express societal norms. Mediators should be aware of these deeper meanings when parties assign monetary values to harms and how narratives around money can shift to resolve disputes or prevent impasse. The mediator's goal is to interrupt cycles of blame and change the conflict narrative to one with alternative interpretations that recognize common ground.
Globální studie Havas Worldwide: Lidé kupují více od odpovědných firemMarketingSalesMedia
Studie agentury Havas probíhá v České republice a dalších třiceti zemích světa. Tentokrát se zaměřila na tzv. názorové vůdce, neboli "prosumery", kteří jsou mj. ochotní utratit víc za produkty, které jsou šetrné k přírodě či společnosti. Studie ukazuje, že nyní většina lidí začíná takto uvažovat a jednat.
The document discusses different approaches to analyzing texts and theories of translation. It notes that most translation theories focus on the translation as a product, examine the context and purpose of the translation, or analyze the psychology of the translation process. Partial theories of translation can be restricted based on the medium, languages/cultures, level of text (word, sentence, full text), text genre, time period, or specific translation problems. Newmark proposes a semantic or communicative translation approach focused on the transmitter/receiver, culture, time and origin, relationship to the source text, and form in the source and target languages.
Presentation of the DigiWorld Yearbook 2012 in London - Guest of honor: Olaf ...IDATE DigiWorld
Presentation of the DigiWorld Yearbook 2012 in London with:
- François Barrault, IDATE's chairman
- Yves Gassot, CEO IDATE
- Jean-Michel Chapon, Vice-Chairman DigiWorld UK
- Vincent Bonneau, Internet Business Unit IDATE
Guest of honor: Olaf Swantee, CEO Everything Everywhere
Titan is an international branding company that provides a full spectrum of branding and creative design services including brand strategy, identity, implementation, management, research, naming, print, digital media, packaging, interior design, exhibitions, and advertising. They specialize in branding B2B companies, large multinationals, and start-ups in areas like high tech, medical devices, biotechnology, and industry. Titan has over 15 years of experience and creative intelligence enabling them to create breakthrough brands.
LXDE is a lightweight desktop environment for Linux that is less resource intensive than other desktop environments like GNOME and Xfce. It was started in 2005 and is developed by an international community. LXDE uses GTK+ and follows standards from freedesktop.org to ensure compatibility. It provides core components like a file manager, panel, task manager, and other applications while keeping low hardware requirements. The LXDE community is growing worldwide with contributors from Asia, Europe and other regions.
This document contains listings for brake disc pads and brake shoes from various manufacturers including Sumitomo, Mazda, Toyota, Isuzu, Mitsubishi, Nissan, Subaru, and Suzuki. For each listing the item ID, reference number, quantity available, OEM part numbers are provided. The listings provide compatibility information for specific vehicle makes, models and years.
This document discusses digital logic circuits and binary logic. It begins by introducing binary logic, gates, truth tables, and Boolean algebra. It then covers analog vs digital signals, quantization, and converting between analog and digital formats. The document discusses various representations of digital designs using truth tables, Boolean algebra, and logic gate schematics. It also covers topics like digital design processes, logic gates, combinational logic functions, and analyzing and simulating digital circuits.
The Syracuse High School Theatre Awards involved 24 area high schools and over 800 students. It raised over $20,000 for the Landmark Theatre and had over 1,800 community members attend the awards ceremony. The event also secured a title sponsor through 2017 and increased sponsorship commitments for 2016 by 50%.
The document contains details of a train route from Howrah Junction to Hyderabad, including 58 stops along the route with arrival and departure times and distances traveled. It lists the station code, station name, route number, arrival time, departure time, time taken between stations, and distance for each stop from origin to destination.
National Center for Family Philanthropy Presentationjdgd
This is the PowerPoint presentation for NCFP’s entry into the National Business Plan Competition of the Yale/Goldman Sachs Partnership on Nonprofit Ventures. The competition was designed to help nonprofits launch and operate revenue-generating business ventures. NCFP’s proposal was for the establishment of FP Online, a subscription-based service to support and educate family philanthropic organizations. The challenges were to state clearly FP Online’s value and how it would fit in with a complex network of subscribers, partners, and community members. The presentation incorporates a minimum of text and relies instead on graphics, charts, and expressive photography to carry the theme that even a small increase in charitable giving can have major positive repercussions.
Dokumen tersebut berisi resep-resep masakan tradisional dan modern dari berbagai daerah di Indonesia mulai dari kue, makanan ringan, sayur, sup, hingga menu utama seperti ayam, daging, ikan dan lainnya. Juga terdapat resep untuk hidangan penutup seperti puding, kue dan es buah. Selain itu ada pula resep makanan untuk bayi dan anak-anak. Berbagai cara membuat dan tips memasak disajikan secara lengkap bes
Napier grass smut and stunt resistance: Introducing the ProjectILRI
A presentation prepared by Janice Proud for the ASARECA/ILRI workshop on Mitigating the Impact of Napier Grass Smut and Stunt Diseases, Addis Ababa, June 2-3, 2010
1) The document discusses ethics in business decision-making and defines ethics as "the rules and standards applied by individuals when making decisions in their business environment." It argues that conducting business ethically is critical for long-term organizational sustainability.
2) It notes that while regulation is important, it is not sufficient on its own to ensure ethical behavior as businesses can find ways around it. Fostering an ethical culture and providing a decision-making process that considers stakeholders is important.
3) The document identifies three key performance indicators of sustainable and ethical businesses: return on capital employed, leadership trust, and corporate reputation. It argues that performing well on all three will lead to long-term success.
Learning Objectives
To understand how currencies are traded and quoted on world financial markets
To examine the links between interest rates and exchange rates
To understand the similarities and differences between domestic sources of capital and international sources of capital
To examine how the needs of individual borrowers have changed the nature of the instruments traded on world financial markets in the past decade
To understand how the debt crises of the 1980s and 1990s are linked to the international financial markets and exchange rates
Ciat overview wecabren sc, nov 2010 [compatibility mode]CIAT
This document provides an overview of CIAT-SABRN (Pan-Africa Bean Research Network) and its goals, partnerships, and activities. The network aims to improve nutrition, health, food security, incomes and natural resources through bean research. It works with national agricultural research systems across Africa and development partners to develop stress-tolerant and nutrient-rich bean varieties, as well as approaches to disseminate seeds and technologies. The network focuses on developing germplasm suited for various markets and resilient to biotic and abiotic stresses like diseases, pests, drought and low soil fertility. It also supports efforts to strengthen African soil information services and regional seed systems.
Supporting several languages is a key point to increase the audience of an application. We will see what is needed in Qt to enable internationalization and how to ensure all the components can be translated. We will also see the tools available for the translators and how to use them.
Presentation by Benjamin Poulain held during Qt Developer Days 2009.
http://qt.nokia.com/developer/learning/elearning
Gymnastics Association of Texas 2010 conference: Presentation geared toward gymnastic coaches on achieving straight body shaping. Biomechanics of core recruitment, getting rid of shoulder and hip angles. Training exercises get rid of the shoulder angle, improve core control and get rid of the hip angle.
Rhys Evans kept a journal documenting his family's experiences during the Industrial Revolution in Wales. The journal entries describe:
1) How Rhys's grandfather talked about life before the steam engine was invented in 1781, and how it changed work and livelihoods by allowing coal mining even during rain.
2) How Rhys visited his friend Benson who worked at the Blaenavon Ironworks, one of the largest iron producers during this period, employing difficult and dangerous work.
3) How Rhys's sister used to work in the mines until the 1842 Mines Act prohibited women and children under 10 from working underground, sparked by the Huskar Pit disaster that killed 26 children.
4
Integrating Literacy Across the Curriculum JenSweigartINK
This document outlines Jen Sweigart's approach to integrating literacy into science and social studies lessons. She begins with a modeled reading where she thinks aloud to demonstrate comprehension strategies. This is followed by shared reading where students apply the strategies to complex texts with teacher support. Students then build content-driven anchor charts citing text evidence. Hands-on activities help synthesize learning. The approach emphasizes using reading strategies like questioning, determining importance, and synthesizing across genres to develop deep understanding of concepts in a positive learning environment.
The document is about family relationships and includes exercises to practice vocabulary and descriptions of family members. It contains a chapter about the student's family, exercises labeling family members in pictures and sentences, examples of family trees, and questions to complete one's own family tree.
Controlling the Growth of Payday Lending Through Local O.docxdickonsondorris
Controlling the Growth of Payday Lending
Through Local Ordinances and Resolutions
A Guide for Advocacy Groups and Government Officials
October 2012
Written By:
Kelly Griffith, Co-Director
Southwest Center for Economic Integrity
[email protected]
Linda Hilton, Director
Coalition of Religious Communities
Crossroads Urban Center - Utah
[email protected]
Lynn Drysdale, Staff Attorney
Jacksonville Area Legal Aid - Florida
[email protected]
Preface
Neighborhoods across America are witnessing the resurgence of predatory small loan operations.
In the last twenty years or so, payday lenders have exploited deregulated interest rates, won special
treatment from state legislatures, or designed products that slip through legislative or regulatory
loopholes. As a result, payday lending legally operates in 32 states, while 18 states either prohibit it,
curb it with rate caps, or have other restrictions that disrupt the payday loan business model costing
consumers as much as $7.46 billion a year in interest for over $44 billion in loans from both storefront
and online lenders. Payday loans cost cash-strapped borrowers triple- digit interest rates, trap borrowers
in repeat loans, foster coercive debt collection practices, and endanger bank account ownership for
families that live on the financial edge.
Payday lending has become increasingly controversial as the consequences of this defective
financial product have become painfully apparent. Payday lenders now outnumber Starbucks and
Burger King outlets across the country. Billions of dollars in usurious interest flows out of communities
to the national chain lenders. Mapping of payday loan locations by neighborhood characteristics and
studies of payday loan use issued by regulators and academics document that these high cost loans
disproportionately harm minority families and low to moderate-income borrowers. (For more
information, please visit Consumer Federation of America's www.paydayloaninfo.org)
Local leaders see the impact of payday lending on economic development, requests for financial
assistance, and financial distress in communities with high levels of low-to-moderate income and
minority families. While industry lobbying and campaign contributions have thwarted reform in many
state legislatures, local officials are taking action to stop payday lenders from exploiting their
neighborhoods by enacting restrictive zoning requirements and local ordinances.
Local policymakers interested in preventing predatory payday lending can also lend their support
to state-level reform efforts to cap annual interest rates at an all-inclusive 36 percent or repeal payday
loan authorization outright. As documented in North Carolina, reinstating small loan caps allows
responsible credit to flow, while saving consumers the billions of dollars now lost to predatory payday
lenders. Resolutions urging state legisla.
This document summarizes a forum on fair housing and fair lending hosted by the Kirwan Institute. The agenda included presentations by Kirwan on framing fair housing issues, an opportunity mapping project for King County, and training on affirmatively furthering fair housing. Background research on the subprime lending crisis was discussed, showing its disproportionate impact on communities of color and connection to historical practices like redlining. The Kirwan Institute has commissioned several research projects related to access to fair financial options, community revitalization, and programs responding to the crisis. Issues discussed included overdraft fees, remittances markets, and the impact of foreclosures on rental communities and Native American populations.
The document discusses issues related to the "unbanked" population in the United States, which consists of around 10 million households that do not have traditional bank accounts. These households tend to be lower-income, minority, young, and less educated. Because mainstream bank products do not meet their needs, many unbanked individuals rely on alternative financial services like payday lenders, check cashers, and pawn shops. However, these services often charge high fees. The document also notes that payday lenders seem to be disproportionately located in African American neighborhoods. To help address these issues, some propose tapping into the unbanked market by opening specialized bank branches that offer low-cost starter accounts, savings programs, emergency
The Center for Responsible Lending (CRL) assesses the impact of the financial crisis on American families, showing the magnitude of the damage to their financial security--that is, their household balance sheet. In addition, this study looks at a broad range of current lending practices and their impacts.
This document provides demographic and economic data about low-income households in the United States. Some key points:
- Approximately 44.5 million households, or 42% of all US households, earn less than $35,000 per year. 9.5% of these households, around 8.4-9.6 million, do not have a bank account.
- Those without bank accounts tend to have annual incomes under $25,000, be headed by someone with less than a high school education, and are disproportionately African American or Hispanic.
- These unbanked households use alternative financial services like check cashers and payday lenders, despite their high fees, because mainstream banks' products do not meet
Bank of America is one of the largest financial institutions in the world serving individual consumers, small businesses, and large corporations. It has over 142,000 employees and $621.7 billion in total assets. Some of Bank of America's stakeholders include customers, investors, regulators, community organizations, and employees. It faces challenges such as lawsuits over alleged discriminatory lending practices and environmental impact of continuing to invest in coal. Bank of America aims to engage with stakeholders, pursue corporate social responsibility and environmental sustainability initiatives, and empower women leaders through financing.
This document summarizes a forum hosted by the Greater New Orleans Fair Housing Action Center on fair housing and fair lending after the subprime lending crisis. It provides an agenda for engaging participants to discuss fair housing and credit challenges in New Orleans and incorporate feedback into a broader blueprint. It discusses research presented on the disproportionate impacts of subprime lending and foreclosures on communities of color. Participants discussed barriers and solutions around access to fair credit, community revitalization, and opportunity-based housing.
This document summarizes research on the financial behaviors and needs of the Hispanic population in the United States and Lehigh Valley region of Pennsylvania. It finds that Hispanics are less likely to use formal financial services due to cultural aversions to debt, strong family support systems, and lack of trust in financial institutions. Specifically in the Lehigh Valley, Hispanic-owned businesses tend to be small with annual revenues under $200,000. The document examines how this research can help organizations like the Rising Tide Community Loan Fund better serve the local Hispanic community and business owners.
The document discusses a partnership between the Kirwan Institute and the W.K. Kellogg Foundation to advance fair housing and fair credit initiatives. It outlines an agenda for a roundtable meeting to get feedback on challenges in Detroit related to fair housing and credit. The Kirwan Institute does research on expanding opportunities for marginalized communities. The initiative aims to improve access to fair financial options, community revitalization, and opportunity-based housing while ensuring programs responding to the subprime crisis reach those most affected.
This document summarizes a report by the Northwest Queens Financial Education Network (NQFEN) on barriers to financial empowerment for immigrants in Northwest Queens, New York.
Key findings from surveys of immigrant consumers include: 1) Immigrants regularly save money but face barriers using banks due to lack of language access and hidden fees; 2) While many have bank accounts, almost half have closed accounts due to fees; 3) Community-based organizations are best positioned to provide culturally-appropriate financial services.
The report recommends that policymakers and banks: 1) Increase funding for community organizations' financial services; 2) Reduce bank fees and improve language access; 3) Leverage laws like the Community Reinvestment Act and
The document discusses the lack of regulation of remittance fees charged by money transfer organizations and banks. It details research by ACORN International that found remittance fees to be much higher than reported by the World Bank, often over 20% of the transaction amount. The research found little response from banks to requests to reduce fees and an absence of oversight or regulation of remittance fees by government agencies in sending or receiving countries. ACORN International is now working with legislators to draft laws establishing regulatory oversight of remittance fees to help lower costs for immigrant families.
Individuals across all income levels and demographics sometimes need access to funds quickly to cover unexpected expenses. However, lower-income individuals often face more stringent lending terms and rely on higher-cost sources of emergency funds such as overdrafts, payday loans, pawn shop loans, and title loans. New financial technologies allow employees to access a portion of earned wages before payday, which could help reduce the need for expensive emergency loans while improving financial wellness especially for those living paycheck to paycheck.
The document summarizes research about the mass affluent market in Canada and the US. It defines mass affluents as individuals with $100,000-$1,000,000 in liquid financial assets. In Canada, there are over 2 million mass affluents, with the largest numbers in Ontario and Toronto. They tend to be professionals between $100,000-$150,000 income. Mass affluents save more than they spend, worry about funding education and retirement, and prefer low-risk investments. In the US, there are 30 million mass affluent households that own 37% of liquid assets, with most located in the South.
This document discusses payday lending practices in Texas. It describes payday loans as small cash advances typically between $100-$1000 with high interest rates. Payday lenders target low-income communities, particularly African Americans, with average incomes of $32,614. This traps many borrowers in cycles of debt through repeated loan rollovers. The document examines problems with payday lending in Texas, including interest rates up to 500% and fees that can result in paying over $1200 for a $500 loan. It recommends adopting regulations similar to Florida's, which limit loan amounts and rollovers to protect vulnerable consumers.
This document discusses options for addressing budget shortfalls faced by state and local governments. It argues that creating public banks owned by states is a viable alternative to cutting services, raising taxes, or relying on borrowing. The Bank of North Dakota is presented as a successful model, having maintained strong credit ratings and returned profits to the state treasury for over 20 years. Establishing public banks could allow states to leverage their existing liquid assets to generate loans and income, similarly to how private banks operate, in order to stabilize revenues without federal assistance or taking on high interest debt.
Improving Americans' Financial Security: The Importance of a CFPB DirectorObama White House
This document discusses the importance of appointing a director to the Consumer Financial Protection Bureau (CFPB). It notes that while the Dodd-Frank Act established strong new consumer protections and the CFPB to enforce them, the CFPB cannot fully exercise its authorities without a director. This leaves gaps in oversight of non-bank financial institutions like payday lenders that interact with tens of millions of American families. Fully empowering the CFPB is critical to protecting consumers from predatory practices and ensuring the financial system supports economic growth and stability.
Underbanked and Unbanked Consumers in the U.S.: Successfully Targeting Consum...MarketResearch.com
This document provides an in-depth analysis of underbanked and unbanked consumers in the U.S. It finds that 26% of U.S. households are underbanked or unbanked, relying heavily on alternative financial services like check cashing, payday loans, and money orders. The economic downturn since 2007 increased financial insecurity and pushed more households to these alternative services. The report examines how banks and alternative financial service providers are targeting this growing demographic through expanded products, locations, and new technologies.
Wells Fargo provides remittance services that allow customers to send money from their Wells Fargo account to beneficiaries in other countries who can receive the funds via cash pickup or bank deposit. The service is available to send money to Mexico, El Salvador, Guatemala, the Philippines, India, Vietnam, and China. Wells Fargo sees remittance services as an opportunity to satisfy customers' financial needs, act as their payments processor, and expand into other products. The remittance industry has seen costs decline and more regulatory oversight, pushing banks like Wells Fargo to increase their involvement to better serve immigrant communities.
CSBS UMKC Freedom Bank Evaluation 2016_v5Maria Davis
Freedom Bank is a community bank located in Johnson County, Kansas that specializes in high-quality commercial lending to small businesses. Small business loans make up over half of Freedom Bank's total commercial lending. Freedom Bank has reinvented the traditional banking experience to focus on building relationships with customers and fostering community engagement. Freedom Bank's careful management of credit risk and concentration on small business lending has led to strong financial performance, with returns consistently outperforming its peers.
The document describes State Law Resources, Inc. (SLR), a national network of independent law firms with at least one member firm in each U.S. state and Washington D.C. SLR helps businesses and organizations navigate complex legal and government relations issues across multiple states. Member firms have expertise in administrative, regulatory, and government relations law at both the state and federal level. SLR helps clients coordinate legal strategy and representation in multiple jurisdictions to efficiently address their issues.
The document analyzes the potential economic impacts of two proposed ordinances related to residential rent control in San Francisco. The first ordinance would allow tenants to appeal rent increases if the total rent exceeded 33% of their income. This could significantly impact landlords' rental income and incentivize them to raise rents on vacant units. The second ordinance would prevent landlords from increasing rent or evicting tenants due to additional occupants. This could benefit tenants by reducing housing costs but also impose costs on landlords. The report estimates various impacts on tenants, landlords, housing prices and the broader city economy under each proposed ordinance.
The document provides information on how consumers can obtain free credit reports and specialty reports from credit bureaus and other agencies. It explains that consumers are entitled by law to one free credit report per year from each of the three major credit bureaus (Equifax, Experian, TransUnion). Contact information and instructions are given for ordering free annual reports from the credit bureaus and specialty reports on tenant history, employment history, property insurance claims, and medical records. Errors should be disputed directly with the credit bureaus.
This document provides a guide to residential tenants' and landlords' rights and responsibilities in California. It covers topics such as looking for a rental unit, rental agreements, security deposits, repairs and habitability, rent increases, entry by the landlord, subleases and assignments, dealing with problems, terminations and evictions, and resolving disputes. The guide aims to help tenants and landlords avoid problems and understand their legal rights and obligations in order to have a good landlord-tenant relationship.
Presto! Forms is a software program that allows users to scan pre-printed forms, recognize fields and checkboxes, fill out the digital form, and print or fax the completed form. It can handle multi-page forms, allows adding notes and drawings, and reads common file formats like PDF, BMP, and TIFF. Filling out forms is easier using Presto! Forms which recognizes fields and turns them into editable text entries, allowing neat and legible form completion without starting over if a mistake is made.
This document provides a list of all global commands for MacSpeech Dictate version 1.5.8. It includes over 200 commands grouped by function, such as commands for controlling MacSpeech Dictate, editing text, capitalization, punctuation, and more. An explanation is provided for commands where the output is not obvious. The document also includes spelling for special characters and a note that application-specific commands are not included.
Presto! PageManager 7 Deluxe is document management software that allows users to convert paper documents into digital files. It provides features like scanning documents, stacking related files together, annotating documents, and powerful search capabilities. The software supports file formats for images, video, audio and allows viewing Microsoft Office files without needing those programs installed. It also includes options for information sharing over networks and uploading/downloading from FTP servers.
My Page provides a personalized hub for accessing wiki tools. It allows users to view updates on pages they are interested in, access available wikis and blogs, view their personal calendar, and change account settings. Key features of My Page include providing quick access to updates, wikis, blogs, calendars, mailing lists, and account settings. Users can view recent changes to wiki pages and blog posts, navigate to available wikis and blogs, and manage their personal wiki tools accounts.
Combine PDFs 5.0 is a Mac OS X application that allows users to combine and split PDF files. It provides options to add, remove, and reorder pages. Users can add text overlays, metadata, and password protection. The application includes filters to modify pages and a full screen preview mode. It requires Mac OS X 10.4 or newer and users must purchase a license to use it beyond 1,000 pages.
This document summarizes the Find Any File application, which allows users to quickly search for files on Mac disks without using Spotlight's database. Key features include searching inside packages and bundles, saving search queries, and a hierarchical view of search results. The application is fast but has a basic interface. Alternatives like EasyFind and TextWrangler are also mentioned.
The document provides an introduction to the basic functionality of Merlin project management software. It describes the different views and features available in Merlin, including activities, resources, dependencies, and utilization views. It also provides instructions on how to create a new project, add activities, link activities, assign resources, and enter project data. The quick start guide is intended to help new users understand the main interface and workflow in Merlin.
Office 2008 for Mac introduces new features that enhance productivity, collaboration, and security for IT professionals and end users. Key updates include a universal binary format for both Intel and PowerPC chips, Open XML as the default file format for reduced file sizes and improved data recovery, and enhanced deployment tools that simplify installation and management. Security is also improved with new anti-spam and anti-phishing features in Entourage. Overall, Office 2008 aims to maximize the impact of work, increase individual productivity, and optimize IT resource efficiency for businesses.
This document provides instructions for using Tag Folders, a macOS application that allows users to easily organize files using tags. It discusses how to install and set up Tag Folders, create new tag folders, customize existing tag folders, and access tagged files. Key features include applying tags with drag-and-drop, automatically tagging files based on folder monitoring, and importing comments from files as tags.
The document provides an overview of the features and capabilities of the Yep document management software. It discusses how Yep allows users to see, create, organize and find documents. Key features include viewing documents as thumbnails or in a list, creating documents through scanning or dragging content in, organizing documents using tags and filing them automatically into date-based folders, and searching for documents. The document is a user manual that walks through how to use the various Yep functions across 6 chapters.
Tidy Up! is a utility that finds and helps manage duplicate files on a computer. It provides a 3-step process: 1) Search for duplicates, 2) Choose which duplicates to process, 3) Process the chosen duplicates by moving, copying, trashing, or exporting them. The document cautions that some duplicate files may be required by applications and removing them could cause issues. It recommends searching locations carefully and making backups before deleting any files.
Tidy Up! is a utility that helps users find and manage duplicate files on their computer. It works in three steps: 1) searching for duplicate items based on user-selected criteria, 2) sorting duplicate items into baskets to identify which should be processed, and 3) processing the selected duplicate items by moving, copying, trashing, or other actions. The manual provides detailed instructions on using each step and function of Tidy Up!, including how to perform common search scenarios, create and use smart baskets, and manage the duplicate items found. It also includes appendix sections defining common file types and buttons/menus within the application.
This user manual provides help and instructions for using the iBank financial management software. It covers topics such as getting started, installing iBank, creating documents, managing accounts and transactions, using reports and budgets, importing data, tracking investments, and more. The manual is designed to be easy to browse, with questions formatted answers and hyperlinks to aid navigation.
This manual provides instructions for installing, registering, updating, and using iFinance 3. It covers installing iFinance, transferring data from other software, and syncing with iPhone data. It also explains the iFinance interface and how to work with records, transactions, stocks, budgets, charts, and reports. Additional chapters cover importing, exporting, printing, preferences, and shortcuts.
The document contains a list of CPT codes ranging from 10021 to 27006. CPT codes are used in medical billing and coding to describe medical, surgical, and diagnostic services and are between 3 to 5 numeric digits.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024)
17
1. The Financial Divide:
An Uneven Playing Field
Bank Financing of Check Cashers and Payday Lenders in California
Communities
March 2005
California Reinvestment Coalition
2. The Financial Divide
The California Reinvestment Coalition
The California Reinvestment Coalition is now a coalition of more than two hundred
organizations advocating increased access to bank services, loans and investments for
California's low-income communities and communities of color. CRC efforts include
research on the financial services industry, technical assistance to local community
coalitions, and creation of new financial products for California's culturally and
economically diverse communities.
Bank CRA commitments negotiated by CRC members add more than $20-30 billion
annually in lending, investment and services to California communities. These
agreements provide access to financing for affordable housing, consumer and small
business loans, investments, grants, branch locations, and deposit accounts.
CRC also does action research on banking and financial issues. Its reports include Who
Really Gets Home Loans, Helping Small Businesses Grow, and No Credit for Those Who
Need It.
Writer and Researcher: Alan Fisher
California Reinvestment Coalition
474 Valencia Street, Suite 110
San Francisco, California 94103
(415) 864-3980, fax (415) 864-3981
www.calreinvest.org
Acknowledgments
The California Reinvestment Coalition wishes to acknowledge the assistance of Jean Ann
Fox, Matthew Lee, Kevin Byers, Jim Bliesner, Bill Kennedy, Maeve Elise Brown, Robert Buck,
Roberto Barragan, Sharon Kinlaw, Josh Stillman, Drew Miazga, Geoff Smith, and many others.
In addition, CRC wants to thank the Consumer Federation of America, the Center for Economic
Policy Alternatives, the Center for Responsible Lending, the Woodstock Institute for their work
on this issue. CRC also appreciates the financial support of the Friedman Foundation, Evelyn and
Walter Haas Jr. Fund, McKay Foundation, and others.
3. The Financial Divide: An Uneven Playing Field
Driving through California towns and cities, the economic division between lower-income and
wealthier neighborhoods is reflected in the starkly separate locations of check cashers and payday
lenders in lower-income neighborhoods on the one hand and mainstream banks and savings &
loans in wealthier neighborhoods on the other. This two-tier consumer finance system has a
dramatic negative impact on California's diverse communities. In contrast to outward
appearances, the two seemingly-separate financial sectors are, in fact, two faces of a seamless
financial web.
Check cashers and payday lenders crowd the streets of lower-income neighborhoods seeking to
lure consumers through their doors with charming customer service while they dramatically
overcharge them. In California communities like West Oakland or Pacoima or National City,
banks are scarce and fairly-priced alternatives are few for the residents. Instead there are
financial price-gougers:
• Check cashers that charge two percent or more to cash payroll checks that could be
deposited for free into a mainstream checking or savings account.
• Payday lenders that charge 500 plus annual percent rate (APR) when an expensive credit
card charges interest of 20 percent annually or less.
This California Reinvestment Coalition study of check cashers and payday lenders in five
California counties reveals the growing inequities between these two economies and the role that
mainstream bank financing of price gougers has played in their growth as shown by public
financial reports and other data. The study’s core findings are:
• Financial institutions have removed their bank branches from most lower-income
communities while they profit from financing high-priced and highly profitable check
cashers and payday lenders in these same neighborhoods.
• The lack of retail competition from bank branches in these communities has created this
lucrative opportunity for price-gouging check cashers and payday lenders.
The Profits of Predatory Lending
The lack of bank and savings & loan branches in lower income communities and communities of
color has created a price-gouging opportunity for rapidly-expanding check cashers, payday
lenders, and finance companies that prey on consumers with few financial alternatives. The lack
of competition from mainstream finance and huge profit opportunities have meant that the
number of check cashers and payday lenders has increased nationally from 2,000 in 1996 to
22,000 in 2003 and is still growing. The lack of competition means that finance companies pull
in hundreds of millions of dollars in revenues while their executives take home million dollar
salaries. Dollar Financial Group reports that its profit margin per store is 32.3 percent. The
presence of these price gougers has dramatically lessened personal financial opportunities for
low-income people whose choices are limited to high cost, low quality financial products that
take their scarce financial resources and block their path to asset building.
Banks vs. Check Cashers
Looking at California communities, the financial divide between traditional and predatory finance
can be seen in neighborhood after neighborhood.
Page 1
4. The Financial Divide
• In Los Angeles’ San Fernando Valley, Encino and Pacoima exemplify this division.
Pacoima has a population (90,000) which is roughly twice the size of Encino (40,700)
while average income is skewed in the opposite direction ($40,000 to $91,475 ). Encino
has one check casher and twenty-seven bank branches. Pacoima has nine check cashers
and two bank branches; one of which just opened last year. The cities are twelve miles
apart.
• The wealthy City of Piedmont (10,952) is half the size of the nearby neighborhood of
West Oakland (19,684) while its household income ($134,270) is more than four times
that of West Oakland ($27,545). Piedmont has three bank branches and no check
cashers. West Oakland has no bank branches and three check cashers.
• Thirty-five miles apart on the Pacific Coast in San Diego County, the cities of Carlsbad
and National City exhibit similar disparities. Carlsbad’s population (78,000) is a little
larger than National City’s (54,000); its average income ($65,145) is more than twice as
high as National City($29,826). Carlsbad has 25 banks and two check cashers compared
to National City’s five bank branch and twelve check cashers.
The Price Paid by Californians
This loss of opportunity in lower-income neighborhoods is reflected in individual financial
hardships at the local level. An average user of check cashers and payday lenders spends one
thousand additional dollars ($1,000) annually more than the cost of mainstream products. But,
when the picture broadens to the state level, it exhibits immense and devastating economic
disadvantages for the daily lives of lower income Californians:
• An estimated 5.2 million Californians1 use check cashers and are charged at least a two
percent fee to cash their checks. Using the California average income of $47,493, this
costs Californians $4.9 billion ($4,900,744,729) annually.
• An estimated 1.5 million 2 California households use a payday lender 11 times annually3
for a $300 4 advance at a $45 fee ($15 per $100) each time at a cost of $757 million
($757,291,590) annually.
1
United States General Accounting Office Report to the Subcommittee on Oversight and
Investigations, Committee on Financial Services,House of Representatives, September 2002, on
Electronic Transfers states that twenty-eight percent of all U.S. adults are unbanked. So, it is
estimated that 5,159,439 Californians are unbanked.
2
“As many as 14 million of the 105 million U.S. households used payday lenders in
2003, according to analyst Dennis Telzrow of Stephens Inc., a Little Rock, Arkansas–based
investment bank.” “Preying on the Poor” by Edward Robinson, Bloomberg Magazine, January
2005. This is 13.3 percent of U.S. households. Applied to California, it is 1,529,882 households.
3
“California: Stop legal loan sharks” Editorial, Los Angeles Times, p.B10, May 14,
2001.
4
California Financial Code Section 23035 limits the face value of the check to $300.
Page 2
5. The Financial Divide
This means that at least $5.7 billion comes out of lower-income Californians’ pockets annually
just due to the high charges of check cashers and payday lenders. This $5.7 billion does not even
include probable further loss of funds due to high charges from refund tax loans, rent-to-own
stores, subprime mortgage lenders, pawnbrokers, and others. These billions go to unscrupulous
finance companies and are lost to families who are struggling on limited budgets.
Studies clearly show that payday lending impacts women and African Americans
disproportionately. A broad national survey5 of payday borrowers conducted last year identified
two of three respondents as women. An Illinois study6 found more than 60 percent of payday
borrowers being sued by a major payday lender were women. The Payday Loan Industry
Newsletter stated in 2003 7 that 60 percent of the payday customer base were women. The Center
for Community Capital8 found that African-American households were almost twice as likely to
borrow from a payday lender as white households in North Carolina. The Center and a more
recent study9 of payday lending in the San Fernando Valley found that payday loan offices favor
locations in neighborhoods with majority minority populations.
Banks Finance the Predators
While most Americans have witnessed this two-tier financial system, the connections between
mainstream financial institutions and these usurious lenders are much less obvious.
• First, these usurious lenders are filling the void left by conventional financial institutions’
retreat from low-income communities and communities of color.
• Second, and more covert, is the fact that mainstream banks finance the payday lenders,
check cashers, and other "subprime" financial subsidiaries that trap lower income people
and people of color in a system of lower-tier finance that costs significantly more than the
mainstream products offered by these same financial institutions.
• Third, the major financial institutions – Bank of America, Citigroup, Washington Mutual,
Wells Fargo Bank and others – have corporate structures that include high-priced
consumer finance company subsidiaries. So, they also operate the price-gouging lending
directly.
5
“Payday Advance Consumer Satisfaction Survey,” by Patricia Cirillo, Cypress Research
Group, May 2004.
6
“Greed: An In-depth study of the Debt Collection Practices, Interest Rates and
Customer Base of a Major Illinois Payday Lender,” March 2004.
7
“Tribune Enterprises,” Payday Loan Industry Newsletter, Issue 03-10, 2003.
8
“Payday Lending: a Business Model that Encourages Chronic Borrowing” by Michael
Stegman and Robert Farris, Center for Community Capitalism, University of North Carolina,
2003.
9
“A Survey of Check Cashers in the San Fernando Valley” by Roberto Barragan and
Arthi Varma, Valley Economic Development Center, December 2004.
Page 3
6. The Financial Divide
These two ostensibly separate financial structures are in fact complementary faces of the same
financial system separated by a thin veneer of pretense. The California Reinvestment Coalition
(CRC) studied these predatory lenders and the financial links between them and major financial
institutions in five California counties. Lending records show that Bank of America, JP Morgan
Chase, U.S. Bank, Union Bank of California, Wells Fargo Bank, Westamerica Bank and other
financial institutions are lending hundreds of millions of dollars to underwrite the activities and
growth of usurious check cashers and payday lenders.
It is a myth that check cashers and payday lenders are a cash business that finances itself. In fact,
CRC found that the majority are underwritten by mainstream capital. In Fresno and Sacramento
Counties, sixty percent of the check cashers and payday lenders are supported by major financial
institutions (see Appendix B). In Alameda County, Los Angeles and San Diego it is nearly as
prevalent. In addition to the banks listed above, they are also financed by Banco Popular, Hanmi
Bank, Westamerica Bank, Saehan Bank, and Merchants Bank. So, instead of these mainstream
financial institutions directly providing reasonably priced financial products to lower-income
communities and communities of color, banks profit from check cashers and payday lenders who
prey upon these consumers.
This is particularly apparent with the new giants of predatory consumer lending:
• Dollar Financial Group maintains a $60 million revolving credit line with Wells Fargo
Bank. Dollar operates as Money Mart in California where 119 of its 1,130 stores are
located. In 2004, their gross national revenue was $246.4 million.
• Advance America has a $300 million credit facility with Bank of America. Advance
America Cash Advance Centers have 303 of their 2,290 stores in California. In 2004,
their gross national revenue was $489.5 million.
• ACE Check Cashing has a $200 million revolving credit line with Wells Fargo and JP
Morgan Chase Banks. Ace America’s Cash Express operates 130 of their 1,327 stores in
California. In 2004, their gross national revenue was $253 million.
From Mom & Pop to National Franchises
This bottom-dwelling financial tier is no longer little Mom and Pop stores. As can be seen above,
it is an already huge, consolidating industry that offers highly profitable franchises charging
usuriously high prices for financial services. It has grown 1100 percent nationally from 1996 to
2003. The amount of payday lending grew 84 percent 10 in Washington State in just the last three
years according to a report released recently by that state’s Department of Financial Institutions.
There were 1.55 million payday loans made in 2003 in Washington State or one and a half loans
for every state resident who is sixteen years old or older.
California has 6,446 locations licensed by the state to do check cashing or payday lending. This is
more than five times as many locations as McDonald’s Hamburgers has in the state. Half of these
licensees are liquor stores, groceries, and convenience stores for whom this is a secondary
business. The remaining 3,106 are retail consumer outlets whose primary business is predatory
10
From $580.5 million in 2000 to $1.07 billion in 2003. Payday Lending Report,
Statistics & Trends for 2003, Washington State Department of Financial Institutions, January
2005.
Page 4
7. The Financial Divide
finance: check cashing and payday lending. Three hundred and three of these solely predatory
locations, or ten percent, are owned by one financial corporation, Advance America. Across
California, two-thirds, or 2,186 of the 3,106 primarily payday and check cashing outlets are
chains of three or more outlets (see Appendix A). In the five counties studied, sixty to eighty
percent of these predatory lenders are chains consisting of three or more stores. In Sacramento
County, eight of ten of these outlets are chains. It is big business to over-charge those with few
alternatives.
Three of the largest of these predatory lenders in California are actually bank subsidiaries. Union
Bank of California has its own check cashing outlet, 15 offices of Cash & Save, as well as a
partnership with Nix Check Cashing which has 59 outlets, all of them in the Los Angeles area.
Banco Popular’s subsidiary Popular Cash Express has 55 outlets almost all of which are in the
Los Angeles area also. Bancomer Financial Services, a subsidiary of Mexico’s second largest
bank Bancomer, has 18 outlets in Southern California.
Beyond investments and debt financing, banks also “provide cash to check cashers by permitting
them to draw against uncollected funds, e.g., checks that have been deposited but have not yet
been cleared. 11” In contrast, regular consumers are not allowed to draw against their deposits
until they have cleared. Chase Manhattan Bank, Citibank, Fleet Financial, HSBC and other
banks have partnered with check cashers in New York, New Jersey and Connecticut to provide
payroll services for the employees of the banks’ commercial customers. 12 These banks would
evidently prefer to send potential customers to check cashers rather than serve them directly.
A number of the national predatory lenders hide behind national bank charters to avoid state
regulation. Dollar Financial Group and ACE have an arrangement with Republic Bank, QC
Holdings (California Budget Financing and USA Checks Cashed) with County Bank of Delaware
and First Bank of Delaware has been partnering with the Cash Store, Check' N Go and Dollar
Financial. ACE used Goleta National Bank near Santa Barbara, California, until recently when
the Office of the Comptroller of the Currency ordered them to cease underwriting payday loans.
A just-issued FDIC Financial Institution Letter: Guidelines for Payday Lending is a good
tentative step toward stopping the evasion of state regulation. It describes concerns regarding the
high risk nature of payday lending and its substantial growth.
As a result of this two-tier infrastructure, the poor pay more for inferior financial products while
being ignored by mainstream financial institutions. The dimensions of lower-tier finance
nationally have increased geometrically in the last decade so that check cashing revenue is more
than $60 billion and payday lending more than $40 billion annually. For one example of the high
profits involved, Dollar Financial Group’s operating margin on its stores in 2004 was 34.8
percent and its revenue per store was $407,000; this is an extremely profitable business. And,
despite much discussion of the high level of risk, net write-offs by Dollar were only 0.25 percent
of the face value of checks cashed.
11
“Check Cashers are Good Bank Customers” published by the Financial
Services Centers of America, page 2.
12
Ibid, page 3.
Page 5
8. The Financial Divide
Most people use check cashers because of barriers placed in their way by mainstream banks, such
as distant branch locations and inappropriate products. CRC’s just-completed survey of its
members has many comments about these issues.
• “There is a shortage of branches in our neighborhoods. So, teller and ATM lines are very
long.”
• “We recently found that it is very expensive for low-income people without checking
accounts to cash their checks at the local bank. This is a serious need.”
• “There is no attention to the needs of low-income consumers.”
• “The few bank personnel that are bilingual only know certain set products and cannot
answer many questions.”
• “What you hear from groups in minority communities has not changed — that banks
have moved out and left their job to groups like non-profits that offer loan assistance and
something other than ATM’s.”
Dennis Telzrow, the consumer finance analyst at Stephens, Inc., estimates that the payday loan
center industry, which makes small high-interest loans for a short period of time (traditionally
"until next payday"), is growing at a rate of 15 percent a year. "The payday loan product has the
strongest growth among financial service offerings and is not well known on Wall Street. Growth
opportunities are high in this industry13," he explains. "People in the lower income level live
paycheck to paycheck. If they need a loan of some sort, they don't have much of an alternative,
and that is why the payday loan is so strong."
Mis-Treatment of Military Personnel
Among those targeted by payday lenders and check cashers are military personnel. The greatest
concentration of these usurious finance companies in the United States is in the zip code
bordering Camp Pendleton in San Diego County14. A New York Times article 15 reported that 26
percent of all military households have had a payday loan. The Department of Defense has
identified payday lending as one of ten key issues in its official “Key Issues - the Department of
Defense / States Military Partnership.” It states “payday lending practices have proven to be
detrimental to Service members who have chosen these loans as a way of overcoming immediate
needs for cash.” It suggests working toward state statutes that cap interest rates and establish
usury ceilings.
In Georgia last year, local military commanders were leaders in passing state statutes to limit
payday lending interest rates in the face of strong opposition from the payday lending industry.
13
“Stephens Inc.: DRILLING DOWN INTO FINANCIALS” BY Meghan Leerskov,
Buyside Magazine, 2005.
14
“Rent-a-Bank Payday Lending,” Consumer Federation of America and the US Public
Interest Group, November 2001.
15
“Seeking Quick Loans” by Diana Henriques, December 7, 2004.
Page 6
9. The Financial Divide
Retired Admiral Charles S. Abbot, President of the Navy-Marine Corps Relief Society, terms
payday lenders “just legalized loan sharks 16.”
Summary
Millions of Californians are paying much higher rates for credit than they should, which directly
impacts their ability to pay their families' basic expenses. Military personnel are specifically
targeted by payday lenders. As can be seen, mainstream banks play the role of financing many of
these predatory lenders while they offer minimal access to the neighborhoods on which the
predators prey. The financial damage to hundreds of thousands of families as a result of this
financial divide is rarely exposed to the public and even more rarely acted upon and remedied.
CRC Prototypes
The California Reinvestment Coalition has developed two product prototypes (see Appendix C)
that banks can use to directly compete with check cashers and payday lenders. CRC has
proposed these prototypes to California’s major financial institutions. None have yet adopted
either product.
• The Essential Bank Account: Many lower-income people have difficulty with “free”
checking accounts and e-banking because their major payee, their landlord, won’t accept
personal checks or e-payments and the danger of expensive insufficient funds charges or
“bounce protection.” The Essential Bank Account has direct deposit and withdrawal only
by ATM, point of sale or money order. Thus, the customer has a money order for the
landlord and other payments and cannot incur insufficient funds charges. Since the
financial institution controls payments, it could also allow the bank to lower the barriers
of ChexSystems so that more people can open accounts.
• The Quick Consumer Loan: The majority of borrowers are unable to repay their payday
advance within the initial two week period and, with rollovers, may end up with interest
greater than the initial loan. The Quick Consumer Loan is a two-month loan at 30
percent APR. It does allow partial payment but not rollovers.
Recommendations
• Financial institutions must recognize the financial potential of lower-income
communities and communities of color by 1) implementing products and marketing that
is more appropriate for them and 2) opening branches in their neighborhoods.
• Cities and counties should restrict the proliferation of predatory lenders with zoning
restrictions and other land use tools.
• The State of California should 1) restrict interest rates charged by these predatory lenders
and 2) stop rollovers by payday lenders.
• The federal financial regulators should 1) end financing of and partnerships with
predatory lenders by banks and savings & loans and 2) mandate that bank locations and
products allow full access by under-served communities.
16
Letter to Washington State Senator Darlene Fairley in support of bills to tighten
regulation of payday lending .
Page 7
10. The Financial Divide
Appendix A - Major California Check Cashers and Payday Lenders
The following chart identifies the check cashers and payday lenders whose bank debt was
reflected in public UCC loan filings in California. The first column is the debtor business, the
second column reflects the number of outlets of that corporation in California, and the third is the
number of outlets nationally (if known).
The major check cashers are often subsidiaries of national chains. For example, Money Mart is a
subsidiary of Dollar Financial Group with 1,130 stores nationally. California Budget Financing
and USA Checks Cashed are subsidiaries of QC Holdings which has 295 stores across the
country. In fact, all of the major California check cashers listed below are either national or
international with the exception of Nix Check Cashing.
Major California Check Cashers and Payday Lenders Outlets
CA US
ADVANCE AMERICA, CASH ADVANCE CENTERS 303 2,290
CHECK 'N GO 174 1,100
CHECK INTO CASH 139 715
ACE AMERICA'S CASH EXPRESS 130 1,111
MONEY MART 119 1,130
CALIF. BUDGET FINANCE 65 295
NIX CHECK CASHING 59 59
CALIFORNIA CHECK CASHING STORES, INC. 58
GIROMEX, INC. 56
POPULAR CASH EXPRESS 55
CASH PLUS 42 80
USA CHECKS CASHED 39
TRAVELEX CURRENCY SERVICES INC. 25
BANCOMER FINANCIAL SERVICES, INC. 18
Page 8
11. The Financial Divide
Appendix B - Loans by County
The following charts identify the check cashers and payday lenders whose bank debt was
reflected in public UCC loan filings in the five California counties that were studied. The first
column is the debtor business, the second column reflects the number of outlets of that
corporation in the particular county, and the third is the bank lender.
(Please note that some check cashers and payday lenders have more than one credit relationship.
In that case, the number of outlets is only listed once.)
Alameda County
Debtor Outlets Lender
Advance America Cash Advance Centers 9 US Bancorp
Advance America Cash Advance Centers W ells Fargo Fin Leasing
California Budget Finance 1 US Bank NA
California Check Cashing Stores 7 Union Bank of California
Cash & Go 3 JP Morgan Chase
Cash 1 3 Banco Popular
Check Into Cash 4 Bank of America
Check 'N Go of California 8 PNC Bank NA
Check 'N Go W orldwide National City Bank
Giromex Inc 2 Merchants Bank of CA
Money Mart 8 W ells Fargo Bank
Fresno County
Debtor Outlets Lender
ACE America's Cash Express 7 W ells Fargo Bank
Advance America Cash Advance Centers 23 US Bancorp
Advance America Cash Advance Centers W ells Fargo Fin Leasing
Broadway Liquor and Deli 1 United Commercial Bank
California Budget Finance 6 US Bank NA
Cash Plus 3 Hanmi Bank
Cash Plus W estamerica Bank
Check Into Cash 5 Bank of America
Check Into Cash of California Bank of America
Check Into Cash of California National City Bank
Check 'N Go of California 8 PNC Bank NA
Check 'N Go W orldwide National City Bank
Money Mart 12 W ells Fargo Bank
Popular Cash Express 3 Banco Popular
Page 9
12. The Financial Divide
Los Angeles County
Debtor Outlets Lender
ACE Cash Express 38 W ells Fargo Bank Texas
Advance America Cash Advance Centers 59 US Bancorp
Advance America Cash Advance Centers W ells Fargo Fin Leasing
American Check Cashing 1 JP Morgan Chase Bank
Area Check Cashing Centers 4 W ilshire State Bank
Area Check Cashing Centers Orange Community Bank
Area Check Cashing Centers W ilshire State Bank
Associated Foreign Exchange 7 Union Bank
Azteca of California, Inc. 2 Corus Bank
Bancomer Financial Services 12 Bancomer
Benny's Market 1 Hanmi Bank
Benny's Market Saehan Bank
California Budget Finance 16 US Bank NA
Cash 1 2 Banco Popular
Cash In a Flash 4 Union Planters Bank
Cash In a Flash, Inc. Banco Popular North America
Cash Plus 14 Merchants Bank of CA
Check Advance Services, Inc. 3 W ells Fargo Financial Leasing, Inc.
Check Into Cash 31 Bank of America
Check 'N Go of California 42 PNC Bank NA
Check 'N Go W orldwide National City Bank
City Check Cashers 8 Banco Popular North America
Continental Currency Services 26 Bank of California
Currency Services of California 10 Union Bank of California
Fast Cash, Inc. 1 California Bank & Trust
Gentri Finance 1 Hanmi Bank
Giromex Inc 23 Merchants Bank of CA
Giros Internacionales 8 Merchants Bank of CA
Mexico Check Cashing 1 Merchants Bank of CA
Mexico Check Cashing Merchants Bank of CA
Money Machine 5 Merchants Bank of CA
Money Mart 23 W ells Fargo Bank
Money Mart Banco Popular
Nix Check Cashing 55 Union Bank of California
Omnipol Capital, Inc. 1 Merchants Bank of CA
Payday Advance 4 Banco Popular
Payday Advance US Bancorp
Popular Cash Express 44 Banco Popular
Page 10
13. The Financial Divide
Su Casa De Cambio 4 Merchants Bank of CA
Sun's Cash Express 1 Merchants Bank of CA
Travelex Currency Services 4 Barclays Bank, Sec Trustee
USA Cash Services Management, Inc. 1 W ells Fargo Bank
Sacramento County
Debtor Outlets Lender
ACE Cash Express 13 W ells Fargo Bank Texas
Advance America Cash Advance Centers 17 US Bancorp
Advance America Cash Advance Centers W ells Fargo Fin Leasing
California Budget Finance 2 US Bank NA
California Check Cashing Stores 13 Union Bank of California
Cash & Go 7 JP Morgan Chase
Cash 1 3 Banco Popular
Check Into Cash 6 Bank of America
Check 'N Go of California 6 PNC Bank NA
Check 'N Go W orldwide National City Bank
Money Mart 14 W ells Fargo Bank
Sunrise Check Cashing 1 US Bancorp
Travelex Currency Services 1 Barclays Bank
USA Cash Services 8 US Bank NA
San Diego County
Debtor Outlets Lender
ACE Cash Express 3 W ells Fargo Bank Texas
Advance America Cash Advance Centers 23 US Bancorp
Advance America Cash Advance Centers W ells Fargo Fin Leasing
Baja-Mex Currency Services 5 W ells Fargo Bank
Cash N Advance Centers of CA 4 Bank of America
Cash Plus 3 Hanmi Bank
Cash Plus W estamerica Bank
Check Advance Services 2 W ells Fargo Fin Leasing
Check Cashing Etc. 5 Travelers Express Co.
Check Into Cash of California 7 Bank of America
Check Into Cash of California National City Bank
Check 'N Go of California 13 PNC Bank NA
Check 'N Go W orldwide National City Bank
Giromex Inc 4 Merchants Bank of CA
Page 11
14. The Financial Divide
Payday Now Inc 1 Banco Popular NA
The Check Cashing Place 21 Mid Am Bank
The Check Cashing Place Union Bank of CA
Travelex Currency Services 5 Barclays Bank
Page 12
15. The Financial Divide
Appendix C - CRC Bank Product Prototypes
California Reinvestment Coalition
THE ESSENTIAL BANK ACCOUNT
California Reinvestment Coalition (CRC) is advocating for a low fee account known as
the Essential Bank Account. Such an account could serve as a gateway into the financial
mainstream for 20% of the population that is considered “unbanked.” The Essential
Bank Account has free money orders in lieu of checks and would allow account holders
to draw their accounts down without incurring fees for non-sufficient funds (NSF) and/or
for having their accounts be in the negative.
The following is a list of general problems amongst banks= low cost or “free” checking
accounts:
$ Monthly service fee if customer does not have minimum balance
$ Excessive fees for NSF which puts customer in danger of being listed on
ChexSystems
$ Existing deposit only accounts (no checks) require customers to pay bills on-line
$ Fees often assessed for exceeding allowable transactions with a live teller or calls
to customer service
The Essential Bank Account would have following features:
$ Direct Deposit
$ No checks
$ ATM/Debit Card with unlimited use
$ Unlimited teller access and telephone customer service (live and pre-recorded)
$ Five free money orders per month
$ No minimum deposit to open and no minimum balance to maintain
$ Account Statement (hard copy, not on-line)
$ Loosened ChexSystems screening: Non fraudulent activity older than 1 year is
disregarded if overdraft has been paid
$ Publicized acceptance of Matricula Consular as well as other foreign government-
issued identification cards (i.e., Consular Identification cards) for primary
identification
$ Publicized acceptance of alternative identification (i.e., utility bills) for secondary
identification
$ No enrollment in a “bounce protection” plan
Page 13
16. The Financial Divide
California Reinvestment Coalition
THE QUICK CONSUMER LOAN
California Reinvestment Coalition (CRC) is advocating with banks and savings & loans
for a low cost consumer loan known as the Quick Consumer Loan. This lending product
is designed as an alternative to payday lending. The Quick Consumer Loan has a longer
term, lower interest rate and does not allow extension of the loan.
The following is a list of general problems with payday loans:
$ High interest rates of 400 to 500 percent APR
$ Allows loan to rollover endlessly causing the interest cost to sky rocket
$ Borrower cannot make partial payment
The Basic Consumer Loan would have following features:
· Customer with direct deposit and regular paycheck
· Loan at $1 per $40 borrowed (30 percent APR)
· Term of loan = two months
· Loan cannot be taken out for a third consecutive month
· Partial payments allowed
· Loan is only available maximum of three times per year with at least one month
between loans
474 Valencia Street, Ste 110, San Francisco, CA 94103
(415) 864-3980 *** fax (415) 864-3981 * a* e 14w.calreinvest.org
P* g ww