Fund – Woonsocket High http://woonsockethigh.org/ Tue, 05 Jul 2022 08:34:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://woonsockethigh.org/wp-content/uploads/2021/05/woonsocket-high-icon-150x150.png Fund – Woonsocket High http://woonsockethigh.org/ 32 32 Fifth Third Bancorp reduces its position in Synchrony Financial (NYSE:SYF) https://woonsockethigh.org/fifth-third-bancorp-reduces-its-position-in-synchrony-financial-nysesyf/ Tue, 05 Jul 2022 08:34:07 +0000 https://woonsockethigh.org/fifth-third-bancorp-reduces-its-position-in-synchrony-financial-nysesyf/

Fifth Third Bancorp reduced its holdings of Synchrony Financial shares (NYSE: SYFGet a rating) by 10.5% during the 1st quarter, according to the company in its most recent Form 13F filed with the Securities & Exchange Commission. The fund held 39,096 shares of the financial services provider after selling 4,580 shares during the quarter. Fifth Third Bancorp’s holdings in Synchrony Financial were worth $1,361,000 when it last filed with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Pinnacle Associates Ltd. increased its stake in Synchrony Financial by 4.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 23,294 shares of the financial services provider valued at $1,081,000 after purchasing an additional 1,050 shares in the last quarter. Marshall Wace LLP increased its holdings in Synchrony Financial by 8,460.7% during the fourth quarter. Marshall Wace LLP now owns 3,147,770 shares of the financial services provider valued at $146,028,000 after purchasing an additional 3,111,000 shares in the last quarter. Highland Capital Management LLC increased its position in Synchrony Financial shares by 0.3% during the first quarter. Highland Capital Management LLC now owns 164,686 shares of the financial services provider valued at $5,733,000 after purchasing an additional 560 shares during the period. Everence Capital Management Inc. increased its position in Synchrony Financial shares by 92.2% during the first quarter. Everence Capital Management Inc. now owns 20,720 shares of the financial services provider valued at $721,000 after purchasing an additional 9,940 shares during the period. Finally, Foster & Motley Inc. increased its position in Synchrony Financial shares by 20.7% during the fourth quarter. Foster & Motley Inc. now owns 33,990 shares of the financial services provider valued at $1,577,000 after purchasing an additional 5,820 shares during the period. 98.26% of the shares are currently held by institutional investors and hedge funds.

Several research companies have recently weighed in on SYF. Bank of America cut its price target on Synchrony Financial shares from $52.00 to $45.00 in a Thursday, March 17 report. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a Thursday, June 30 research report. BMO Capital Markets raised its price target on Synchrony Financial shares from $49.00 to $52.00 and gave the company an “outperform” rating in a Tuesday, April 19 research report. Goldman Sachs Group raised its price target on Synchrony Financial from $40.00 to $45.00 and gave the company a “buy” rating in a Tuesday, April 19 research note. Finally, Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equally weighted” rating and reduced its price target for the company from $56.00 to $40.00 in a Monday 28 research note. march. One investment analyst gave the stock a sell rating, six gave the company a hold rating and twelve gave the company a buy rating. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.61.

Shares of NYSE SYF opened at $28.59 on Tuesday. The company has a debt ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.24. The company has a market capitalization of $14.34 billion, a PE ratio of 3.88, a P/E/G ratio of 0.22 and a beta of 1.52. The company has a 50-day simple moving average of $33.51 and a two-hundred-day simple moving average of $38.71. Synchrony Financial has a fifty-two week low of $27.22 and a fifty-two week high of $52.49.

Synchrony Financial (NYSE: SYFGet a rating) last released its quarterly results on Monday, April 18. The financial services provider reported earnings per share of $1.73 for the quarter, beating the consensus estimate of $1.53 by $0.20. The company posted revenue of $3.79 billion in the quarter, versus a consensus estimate of $2.66 billion. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. In the same quarter last year, the company earned earnings per share of $1.73. On average, sell-side analysts expect Synchrony Financial to post earnings per share of 5.63 for the current fiscal year.

Synchrony Financial said its board launched a stock buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion worth of stock. This repurchase authorization allows the financial services provider to repurchase up to 13.6% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday, May 2 received a dividend of $0.22. This represents an annualized dividend of $0.88 and a dividend yield of 3.08%. The ex-dividend date was Friday, April 29. Synchrony Financial’s payout ratio is 11.94%.

Synchrony financial profile (Get a rating)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded and general purpose credit cards, short and long term installment loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

Featured Articles

Want to see what other hedge funds own SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE: SYFGet a rating).

Institutional ownership by quarter for Synchrony Financial (NYSE:SYF)



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Opportun Completes $400 Million – GuruFocus.com https://woonsockethigh.org/opportun-completes-400-million-gurufocus-com/ Sun, 03 Jul 2022 13:17:12 +0000 https://woonsockethigh.org/opportun-completes-400-million-gurufocus-com/

SAN CARLOS, Calif., May 24, 2022 (GLOBE NEWSWIRE) — Oportun (OPRT), a mission-driven fintech and digital banking platform, today announced the issuance of $400 million in asset-backed notes two-year renewable assets secured by a pool of unsecured and secured installment loans.

The offering included four classes of fixed rate notes: Class A, Class B, Class C and Class D. DBRS, Inc. rated all classes of Notes, assigning ratings of AA (low) (sf), A (low) (sf), BBB (low) (sf) and BB (high) (sf), respectively. The Class A, Class B and Class C bonds were placed with a diverse mix of institutional investors in a private offering pursuant to Rule 144A of the Securities Act of 1933, as amended. Class D bonds will be held by a subsidiary of Oportun. Class A, Class B and Class C bonds were priced with a weighted average yield of 5.68% per annum. Jefferies LLC acted as lead bookrunner with Goldman Sachs & Co. LLC and JP Morgan Securities LLC as joint bookrunners.

Oportun will pledge the Class D bonds and residual cash flows on its existing financing facility provided by Jefferies.

“This transaction demonstrates that we are able to access growth capital even in challenging markets and demonstrates investor confidence in our AI-powered underwriting,” said Jonathan Coblentz, Chief Financial and Administrative Officer at Oportun.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration. or qualification under securities laws. of such jurisdiction.

About Opportun
Oportun (OPRT) is an AI-powered digital banking platform that seeks to make financial health effortless for everyone. Driven by a mission to provide inclusive and affordable financial services, Oportun helps its nearly 1.7 million hardworking members meet their daily borrowing, saving, banking and investing needs. Since its inception, Oportun has provided over $13 billion in responsible and affordable credit, saved members over $2.2 billion in interest and fees, and automatically helped members set aside over $7.6 billion for rainy days and other needs. In recognition of its responsibly designed products, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.

Contact Investor
Dorien Hare
(650) 590-4323
[email protected]

Media Contact
Usher Liebermann
650-769-9414
[email protected]

Opportun-Inc-.png

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7 On your side: “Buy now, pay later” loans are popular, but do they make sense? https://woonsockethigh.org/7-on-your-side-buy-now-pay-later-loans-are-popular-but-do-they-make-sense/ Fri, 01 Jul 2022 22:53:14 +0000 https://woonsockethigh.org/7-on-your-side-buy-now-pay-later-loans-are-popular-but-do-they-make-sense/ NEW YORK (WABC) — Buy ​​now, pay later, or BNPL, loans have become incredibly popular, up 230% in the past two years.

These are loans that are usually interest-free and allow you to make a purchase and pay it off in four or five installments.

Sounds good, right?

Well, before you reach the plastic, pump the brakes. 7 On Your Side’s Nina Pineda has the lowdown on these loans.

“Buy now, pay later, lending has kind of taken the world by storm,” said Matt Schulz, chief credit analyst at Lending Tree. “They’re everywhere. You can’t go to an online retailer without seeing them.”

Plus 7 on your side | Helping a homeowner forced into foreclosure

Schulz says their research at Lending Tree showed a huge increase in such loans during the pandemic, as shoppers were lured by offers to split payments into small chunks with a few clicks while checking shopping carts online.

“Unlike a credit card, which has interest rates that you don’t know exactly how much you’re going to pay in the end,” he said. “You know exactly how much you’ll pay for a purchase now, pay a loan later, and when that loan will end.”

Klarna, Afterpay and PayPal have paved the way for BNPLs, with Apple joining the trend offering consumers a new way to pay. Recently, investment in business-to-business BNPLs has taken off as rising costs force businesses big and small to look for ways to stay afloat.

For those of us looking to fund everything from designer duds to a new speaker system, it’s easy to qualify.

There are no hard credit applications to apply, and typically you pay it back in four equal installments every two weeks.

“That’s why everybody likes them, because they’re interest-free and they’re predictable, because they’re installment loans,” Schulz said. “But the thing is, they’re really easy to get, and that really makes it easier to overspend.”

Matt says a BNPL is great for beginners who don’t have a credit history, but not for those of us who don’t pay our bills on time.

The downsides are that it’s too easy to get into deep debt, be caught off guard by frequent payments, rack up late fees, and not understand return policies, which can make repayments difficult. .

Plus 7 on your side | Dozens of poll workers say they were stiffed by New York gubernatorial candidate

“It’s a bit of a Wild West situation going on there,” Schulz said. “So it’s important to look at the fine print with any financial transaction, but especially with these.”

Remember, just because someone is willing to give you these loans doesn’t mean you have to accept them.

You can be in a lot of trouble if you start piling them on top of each other because while there’s no thorough credit check to receive them, you better believe that if you miss a payment , they will affect your credit score.

———-
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Have a problem with a business that you can’t solve? If so, 7 On Your Side wants to help!

Fill out the form below or email your questions, issues or story ideas by filling out the form below or sending an email 7OnYourSideNina@abc.com. All emails MUST INCLUDE YOUR NAME AND CELL PHONE NUMBER. Without a phone number, 7 On Your Side will not be able to answer you.

Copyright © 2022 WABC-TV. All rights reserved.

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Best installment loans for bad credit https://woonsockethigh.org/best-installment-loans-for-bad-credit/ Tue, 28 Jun 2022 23:03:59 +0000 https://woonsockethigh.org/best-installment-loans-for-bad-credit/

When you borrow a fixed amount and need to repay it in regular installments, it is called an installment loan. Car loans, personal loans, and mortgages are just a few examples of popular installment loans. These loans involve monthly payments calculated so that the borrower repays the loan according to an agreed schedule.

Installment loans are common, and in most cases you don’t need to have good credit to increase your chances of being approved. But this is where most people fall prey to unscrupulous lenders who charge borrowers high interest rates.

When looking for a loan, it’s a good idea to always read and fully understand the terms before signing the agreement – and know your credit rating.

Today we are going to focus on installment loans for bad credit.

What is a bad credit installment loan?

Borrowers with no credit, imperfect credit history or poor credit scores are the best candidates for installment loans for bad credit. It is a type of payday loan designed to help people who have difficulty accessing credit.

Online lenders offer installment loans, although some local credit unions and banks may also offer payday loans for poor credit.

Payday loans for borrowers with bad credit are usually unsecured. Therefore, borrowers must provide an asset that will act as collateral to get loan approval. This way, the lender reduces the risk associated with defaults since they can simply repossess the asset to offset the loan balance.

But some lenders may not need collateral to approve an installment loan for borrowers in credit difficulty. It’s called an unsecured loan, but instead of collateral, lenders tend to charge higher interest rates to protect against defaulters.

Features of Bad Credit Installment Loans

As we see now, you don’t need to have a great credit score to qualify for an installment loan. You can take out a certain loan amount and repay it in fixed installments over a period of time.

Bad credit installment loans have unique characteristics that set them apart from other types of loans:

  • Variable or fixed interest rates often apply. Variable interest rates change over the life of the loan. Fixed rates, on the other hand, mean that interest rates remain the same throughout the term of the loan.

Although terms and interest rates vary depending on the lender you choose, installment loans generally have:

  • Higher fees: Bad credit installment loans tend to have higher fees. Fees can be administrative fees, loan service fees or collection fees.
  • Higher interest rates: It is common for lenders to charge higher interest rates on loans to borrowers with bad credit.
  • Loan amounts: Bad credit installment loan finance companies typically offer loans ranging from $100 to $10,000.

How to choose an installment loan

Here’s what to look for when choosing payday loans:

  • Costs: Most lenders charge origination fees on loans, which can range from 1% to 10% of the total loan amount. Always ask the lender to disclose all fees associated with the loan before accepting the loan offer.
  • Annual rates in percentage: APR is a term used to understand the cost of borrowing. For a personal loan, the APR is the annual cost of taking out a loan expressed as a percentage. Generally, you should find the lowest APR possible.
  • Monthly payments: Payday loans tend to have fixed interest rates, which means your monthly payments stay the same for the life of the loan. This can be great for your budget as it allows you to properly manage your debt.
  • Minimum credit score: Different lenders have different definitions of bad credit. Some consider it to be below 630 while others may have no minimum requirement and may approve borrowers even without a credit history.
  • Credit Repair Features: Most online lenders work with the three biggest credit bureaus, namely Experian, Equifax and TransUnion. They report your loan payments to these credit bureaus, so if you consistently make on-time payments, you can improve your credit score. Some lenders also offer additional features to help borrowers build credit. Always choose a lender who helps you repair your credit score.

How Bad Credit Installment Loans Work

You do everything online – from making a simple request to depositing funds into your account. Most online platforms are brokers, who then connect you with a lender.

One of the leading installment loan brokers is MyUSALoans, which provides unparalleled access to bad credit lenders. Upon submitting your application through their easy to use website, you will get an instant decision on your loan application. Your funds will usually be deposited within one business day.

Eligibility criteria

In order for you to apply for bad credit installment loans through MyUSALoans, you will need to:

  • Be 18 or older
  • Show proof of stable income
  • Have an active bank account with direct deposit.

Advantages of installment loans

Quick application

Most lenders operate online and you can complete the application on any device with internet access. It only takes a few minutes if you have the required information readily available.

Affordable Loans

Your income will determine the loan amount you can borrow. However, most lenders have predetermined algorithms that limit the amount of money you can borrow to prevent you from falling into a cycle of debt.

Easy qualification

Most payday loans do not involve a credit check and if you can prove that you are earning a steady income, you can easily qualify for a no credit check loan. If you haven’t defaulted with another lender, your chances of qualifying are still good.

flexible payment

Bad credit installment loans tend to have flexible payment plans to meet your unique financial needs. In some states, the loan may have a three month repayment period. But you can often also prepay the loan without a prepayment penalty.

No spending restrictions

You can use your loans for anything. But we suggest that you only borrow when you are in a financial emergency. Unlike bank loans, installment loans and other payday loans have no restrictions on how you spend them.

Will my credit report be affected?

MyUSALoans does not check your credit score when you apply for a loan online. But some lenders may check your score through a “soft search” that won’t appear as a credit application on your report.

Can I get a bad credit loan with guaranteed approval?

Although it is normally easy to get approved for a payday loan, unfortunately no one is guaranteed approval. It doesn’t matter how few loan requirements and how good your credit score is. However, if you have a steady stream of income and an active bank account that allows direct deposit, you will have an excellent chance of being approved through MyUSALoans.com.

Can I borrow twice from the same lender?

Instead. Especially if you have managed to repay a loan on time in the past. So paying off your loan on time will always increase the chances of borrowing twice from the same lender.

What other options do I have?

If you think a bad credit installment loan isn’t the right solution, there may be an alternative for you, including:

Guarantee loans

As the same suggests, these are types of unsecured loans that require a co-signer in the form of a family member or friend. The guarantor simply undertakes to repay the debt in the event of default by the borrower.

Guarantor loans are ideal for anyone with poor or no credit and if you can repay on time, you can use them to repair your credit rating.

Secured loans

Secured loans are also a great way to access credit if you have bad credit. With a secured loan, you must designate collateral that the lender will use to recover the cost if you fail to repay the loan.

Why Choose MyUSALoans for Bad Loans in Maryland?

If you want a payday loan for bad credit, you can use MyUSALoans to borrow up to $5,000. They can match you with a reputable lender who will be able to provide you with the funds you need.

With MyUSALoans, you can get a loan in three easy steps:

  • Loan application: The platform is safe and secure
  • Decision: Instant decision on your loan application
  • Get your funds: Receive up to $5,000 in 24 hours.

Conclusion

If you need a loan but are afraid of your bad credit, MyUSALoans can help you get a loan within 24 hours. The platform will connect you with the best lenders in America and on the same day of application, you will receive your funds so that you can deal with your financial emergency.


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Fintech investors appear to be favoring later-stage deals as the sector takes a hit, recent data shows https://woonsockethigh.org/fintech-investors-appear-to-be-favoring-later-stage-deals-as-the-sector-takes-a-hit-recent-data-shows/ Sun, 26 Jun 2022 14:16:35 +0000 https://woonsockethigh.org/fintech-investors-appear-to-be-favoring-later-stage-deals-as-the-sector-takes-a-hit-recent-data-shows/

Welcome to The Exchange! If you received it in your inbox, thank you for subscribing and for your vote of confidence. If you read this as a post on our site, subscribe here so that you can receive it directly in the future. Each week, I’ll take a look at the hottest fintech news from the previous week. This will include everything from funding rounds and trends to analysis of a particular space and hot shots on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay up to date – and make sense – so you can stay up to date. Let’s go! — Mary Ann

I was mostly away last week, so this edition of The Interchange might be slightly less dense than normal. A few observations though. We’ve seen fewer layoffs, but also less news related to fintech in general. Things were generally fairly quiet and less contentious than in past weeks. Honestly, we’re really looking forward to this quarter being over so we can dig deeper into the numbers to see how much the funding landscape has changed compared to 2021. Until then, we’ve looked at some recent numbers.

Fewer trades, bigger rounds – but still down

My dear friends and co-hosts on the Equity PodcastAlex and Natasha, discussed the fintech funding market last week not once, but twice — here and here. Meanwhile, it felt like there was a bump in fintech-related funding announcements. It made me curious enough to reach out to my old friends at Crunchbase for data on how much fintech startups have raised in recent weeks. (Keep in mind that this is preliminary and there is also a lag – so there will most certainly be more bids and dollars reported for the same time periods in the future.) I mostly expected to see an increase in numbers. And I did, sort of. Here’s what the data showed: Globally, funding was up ever so slightly in terms of dollars raised, but deal volume was down significantly last week compared to previous weeks. Specifically, Crunchbase found that fintech startups raised $1.5 billion from June 16-23 across 39 deals, compared to $1.4 billion from 53 deals the previous week and $1.2 billion from 59 deals. 2 weeks ago. This tells us that there were more early-stage deals closed earlier this month, whereas last week we saw significantly fewer deals but larger round sizes.

We saw a similar trend here in the US According to Crunchbase, fintech startups in the US raised $400 million across 10 deals from June 16 to June 23. This compared to $300 million raised from 14 deals the previous week, and $300 million raised from 17 deals 2 weeks prior.

But notably, and perhaps even more surprising, is the difference between these numbers compared to June 2021. Globally, fintech startups raised a total of $8.2 billion across 272 deals from May 1-23. June 2021. That compares to a total of $4.2 billion across 151 deals in the same period this year. Meanwhile, US-based startups raised $1.9 billion across 101 deals from June 1-23, 2021. That compares to a total of $1 billion across 41 deals during the same period this year. Wow. That’s like almost half of the dollars raised both globally and in the United States. So even though this is just a small glimpse back in time, it still points to what we all know is happening – a global slowdown in funding and proof that fintech is not immune.

For the record, Crunchbase defines fintech as companies that integrate technology into the financial services sector.

Takeaway: Fewer funding deals are closing in the fintech space, and during the month of June at least, investors seemed to be taking more bets on later-stage companies, so dollars raised actually increased as the month progressed. That means it’s likely increasingly difficult for early-stage companies to win over VCs, who would apparently do more due diligence and demand more traction than in the whirlwind of 2021.

Photo: PM Images/Digital Vision/Getty Images

Weekly News

Buy now, Pay Later (BNPL), estimated at $120 billion in 2021, has grown significantly in recent years. But for most of its rise to virtual checkout prominence, BNPL has largely targeted everyday consumer goods like clothing from Urban Outfitters or a Peloton. Now, the credit method goes beyond its e-commerce roots. In recent months, large companies have joined the BNPL market, also hoping to quickly approve consumers for installment loans. Rebecca Szkutak digs here.

Speaking of BNPL, the Swedish Klarna has (finally) launched a new loyalty card feature in its app, which it says allows users to store and access all of their physical loyalty cards as digital versions, eliminating the need to carry physical cards when shopping in-store. The company is clearly striving to increase its user count given that its valuation has reportedly been reduced from $45 billion to $15 billion, a reduction that our own Alex Wilhelm deems to be “stiff enough.”

Scoop: Three more top executives from digital mortgage lender Better.com have resigned, I reported last week. These three executives are Jillian White, managing director of Better’s affiliated businesses known as Better+, which consists of its title/settlement, insurance and home inspection services; Megan Bellingham, who was senior vice president of sales and operations; and John Moffatt, who served as vice president of sales.

Brex released a mea culpa this week after its shocking announcement last week to stop working with SMEs. Pedro Franceschi, Founder and Co-CEO, addressed the issue in a blog post titled simply “About last week’s announcement”. In the post, Franceschi regret expressed on the “poor job explaining this decision, which eroded some of the precious trust” that Brex had built over the years. He also outlined the criteria a company must meet to qualify to remain a Brex customer.

Speaking of Brex and SMEs, Tillful – a free business credit app built by VC-backed startup Flowcast – announced last week that it was launching a new feature for its users via a direct partnership with Experian with the aim of better informing corporate credit scoring in SME/SME lending. The startup says it’s a “one-of-a-kind partnership” between a fintech and a major credit reporting agency “with the aim of making credit risk assessment more ‘open'”. Flowcast has developed AI-powered credit models for lenders and is backed by ING Ventures and BitRock Capital. From Tillful Was launchedit says more than 50,000 small businesses have signed up to help manage and grow their business credit.

This is where it gets even more interesting in light of the latest Brex news: Flowcast’s latest move, a spokesperson told TechCrunch, reflects its “SME doubling.” Brex, the spokesperson added, was actually one of its partners, but Flowcast hadn’t heard from them “for some time as they stopped engaging” with the company. months ago: “We haven’t received any communication from them either for a long time. Both Brex cardholder and lending partner, but we are leaving their platform and will use our own card instead.

Meanwhile, Mercury – a digital bank for startups – says it has already seen hundreds of new accounts arrive on its platform following the Brex announcement and is “seeing more every day”. , a spokesperson told TechCrunch on June 24.

Brazilian digital real estate broker QuintoAndar launched last week in Mexico City, the first time the startup has expanded outside of its home country. It will operate in the country under the “Benvi” brand, which will be the international name of the proptech. Last August, QuintoAndar announced that it had raised $120 million at a valuation of $5 billion. In April, the company dismissed 160 peopleor 4% of its staff, making it one of the few highly regarded Brazilian startups to cut jobs.

While we’re talking about LatAmBrazilian digital bank Neon announced that it has hired a Silicon Valley tech veteran who has held positions at Google, Snap and Coinbase as its new chief technology officer. Andre Madeira is the former co-founder and CEO of Meemo, which was acquired by Coinbase last year.

Vishal Garg Better.com layoffs, admits he has

Vishal Garg layoffs Better.com, admits he “failed” on multiple fronts in a leaked filing dealing with major staff cuts. Meeting screenshot.

Picture credits: Leaked meeting recording/Better.com (TechCrunch)

Financing and M&A

Seen on TechCrunch

Ghanaian fintech Fido raises $30 million to roll out new products and expand in Africa

Neobank Stashfin Raises $270M, Exceeds $700M Valuation

Fintech Kasheesh wants clients in financial difficulty to say ‘goodbye’ to BNPL

SumUp raises $624m at an $8.5bn valuation, with its payments and commerce technology now used by 4m SMBs

And elsewhere

Agent-focused home insurer openly closes $75 million funding round

UK-based B2B fintech BNPL Hokodo raises $40m in Series B funding round

Fintech giving access to earned wages Tapcheck scores $20 million in Series A

Deel launches tender offer to acquire Australia-based payroll company PayGroup

Well, that’s all for this week. Again, thanks for reading – enjoy the rest of your weekend! See you next time. xoxo, Mary Ann

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PleaseLoan eliminates endless loan lines with its online platform that makes the borrowing process easier https://woonsockethigh.org/pleaseloan-eliminates-endless-loan-lines-with-its-online-platform-that-makes-the-borrowing-process-easier/ Fri, 24 Jun 2022 20:57:30 +0000 https://woonsockethigh.org/pleaseloan-eliminates-endless-loan-lines-with-its-online-platform-that-makes-the-borrowing-process-easier/

The loan company provides loan services to government and private employees to help them with additional resources that can help their financial difficulties

Award Loans are unsecured, fixed, low-interest loans specifically designed for federal employees. These loans are easily accessible even for employees who have bad credit because the loans are paid by deduction from the employee’s monthly salary. Award loans are essential to the well-being of federal employees to float them through uncertain financial tides, as well as to act as a lifeline in an emergency. It is important that the task of accessing such a loan is handled by a reputable lending company and PleaseLoan is the ideal company for this service.

PleaseLoan is an online platform designed to connect consumers with handpicked lenders across the country, based on an exclusive team of professionals who are focused on the customer’s needs and are positioned to improve their financial situation in the best way. possible. The process for allotment loans with PleaseLoan is seamless as the customer simply has to submit their application, wait for a response, and electronically sign the loan agreement, all within a single business day.

Additionally, PleaseLoan is a safe and confidential platform as the customer’s credit is not checked and the customer does not need to disclose their intentions for the loan. Borrowers have access to more of the company’s loan services, including providing installment loans for people with bad credit, emergency loans and payday loans. Loans for federal employees through PleaseLoan are up to $5,000, which is approved regardless of credit score and deposited directly into the customer’s account.

For more information, please visit https://www.Pleaseloans.com/

About loans please

Please Loans is owned by financial expert and finance enthusiast, Alex Ostapovich.

Media Contact
Company Name: Please lend
Contact person: Alex Ostapovich
E-mail: Send an email
Call: (866) 336-3850
Country: United States
Website: https://www.Pleaseloans.com/

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The Maryland State Pension and Retirement System holds a $1.40 million position in Synchrony Financial (NYSE:SYF) https://woonsockethigh.org/the-maryland-state-pension-and-retirement-system-holds-a-1-40-million-position-in-synchrony-financial-nysesyf/ Thu, 23 Jun 2022 10:18:59 +0000 https://woonsockethigh.org/the-maryland-state-pension-and-retirement-system-holds-a-1-40-million-position-in-synchrony-financial-nysesyf/

Maryland State Retirement & Pension System reduced its position in shares of Synchrony Financial (NYSE: SYFGet a rating) by 4.0% in the first quarter, according to the company in its most recent filing with the SEC. The company held 40,222 shares of the financial services provider after selling 1,677 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Synchrony Financial were worth $1,400,000 when it last filed with the SEC.

Other hedge funds and other institutional investors have also recently changed their holdings in the company. CVA Family Office LLC acquired a new position in Synchrony Financial during the fourth quarter worth approximately $30,000. Blue Bell Private Wealth Management LLC acquired a new stock position in Synchrony Financial in the fourth quarter worth approximately $30,000. Spire Wealth Management increased its holdings of Synchrony Financial shares by 1,219.7% in the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services provider valued at $40,000 after purchasing an additional 805 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings of Synchrony Financial shares by 115.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider valued at $45,000 after buying an additional 517 shares during the period. Finally, Andrew Hill Investment Advisors Inc. acquired a new position in shares of Synchrony Financial in the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors hold 98.26% of the company’s shares.

A number of brokerages have recently commented on SYF. Wolfe Research downgraded Synchrony Financial shares from a “peer performing” rating to an “underperforming” rating and set a price target of $22.00 for the stock. in a research report on Thursday, May 12. Piper Sandler upgraded Synchrony Financial shares from a “neutral” rating to an “overweight” rating and raised her price target for the stock from $48.00 to $49.00 in a research report from the Wednesday 6 April. StockNews.com moved shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday. Goldman Sachs Group raised its price target on Synchrony Financial shares from $40.00 to $45.00 and gave the stock a “buy” rating in a Tuesday, April 19 research report. Finally, Wells Fargo & Company lowered its price target on Synchrony Financial shares from $52.00 to $45.00 and set an “overweight” rating on the stock in a Wednesday, April 6 research report. . One research analyst gave the stock a sell rating, five gave the stock a hold rating and thirteen gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Shares of Synchrony Financial Action opened at $29.04 on Thursday. The company has a market capitalization of $14.56 billion, a price-earnings ratio of 3.94, a PEG ratio of 0.23 and a beta of 1.43. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt ratio of 1.05. Synchrony Financial has a 12-month low of $27.77 and a 12-month high of $52.49. The company’s 50-day moving average price is $35.18 and its two-hundred-day moving average price is $39.85.

Synchrony Financial (NYSE: SYFGet a rating) last released its results on Monday, April 18. The financial services provider reported EPS of $1.73 for the quarter, beating analyst consensus estimates of $1.53 by $0.20. The company posted revenue of $3.79 billion in the quarter, versus $2.66 billion expected by analysts. Synchrony Financial had a net margin of 26.26% and a return on equity of 29.99%. In the same quarter of the previous year, the company had earned earnings per share of $1.73. On average, sell-side analysts expect Synchrony Financial to post earnings per share of 5.63 for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday, May 2 received a dividend of $0.22. The ex-dividend date was Friday, April 29. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 3.03%. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.94%.

Synchrony Financial said its board launched a stock buyback plan on Monday, April 18 that allows the company to repurchase $2.80 billion worth of stock. This repurchase authorization allows the financial services provider to purchase up to 13.6% of its shares through purchases on the open market. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.

About Synchrony Financial (Get a rating)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded and general purpose credit cards, short and long term installment loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

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Institutional ownership by quarter for Synchrony Financial (NYSE:SYF)



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Being poor is expensive; predatory lenders make matters worse https://woonsockethigh.org/being-poor-is-expensive-predatory-lenders-make-matters-worse/ Mon, 20 Jun 2022 13:45:35 +0000 https://woonsockethigh.org/being-poor-is-expensive-predatory-lenders-make-matters-worse/

Being poor is expensive. Between overdraft fees, ATM fees and credit card interest, big banks and predatory lenders are taking advantage of low-income Canadians.

Recognizing that the pandemic is far from over and that its effects will remain lasting, advocacy organization the Association of Community Organizations for Reform Now (ACORN Canada) conducted a study detailing how high-cost loans (such as payday loans, installment loans, and title loans) are exploiting low-income Canadians at a time of record inflation and great economic uncertainty in the global scale.

ACORN compiled a survey between November 2021 and January 2022, gaining insight into the harms and consequences of predatory lending from 440 people who have experience taking out high interest loans. One in four people said they were pushed into predatory lenders because of pandemic-related financial hardship.

The 52-page report, a combination of data and testimonials, found that more than two years into the COVID-19 pandemic, “many people are not seeing their financial situation improve.” An overwhelming majority of participants “expressed concern” about pandemic-related benefits like the Canada Recovery Benefit (CRP) ending or being more exclusive.

The report outlines the many ways lenders exploit customer vulnerabilities, ranging from incompletely explaining the cost of borrowing to “offering loans under the guise of improving credit ratings or attaching insurance to ready to extract more silver”. ACORN concludes that banks are failing the same people who need their services the most, noting that the majority of customers who rely on payday loans were initially rejected by banking institutions. Not only are low-income people often denied bank loans, but they are also charged excessive insufficient funds (NSF) fees, averaging $45. This is in addition to late fees and hidden fees from predatory lenders.

The report also documented a worrying trend: while payday loans remain the most common type of high-cost loan, “installment loans continue to see an increase with an almost equal proportion of people reporting having taken an temperament”.

Installment loans seem attractive to borrowers because payments are spread over a longer period, but ACORN’s report suggests these loans also cause long-term financial pain for people trying to make ends meet.

Less than half of respondents, or 40%, said they had used high-interest loans “once or twice”, while one in four had taken out ten or more loans.

“It reveals the exploitative nature of high-cost lenders, because the goal is not to help people but to ensure that the person who took out a loan is trapped in a vicious circle of debt,” says the report. “The reasons people are forced to take out these loans are to meet basic expenses like rent, groceries, car repairs, etc.”

Part of ACORN Canada’s recommendations would see a fair credit benefit created by provincial or federal governments to help those in financial emergency, providing an alternative to predatory payday loans. The organization also wants the interest rate on installment loans to drop from 60% to 30%. This includes all fees, charges and insurance.

In 2017, more than 6 million Canadians were paying off installment loans of up to $15,000 with interest rates as high as 59.9% (the federal cap is 60%).

One of the report’s case studies documented the experience of Donna Borden, who borrowed $10,000 from CitiFinancial in 2003 after being denied a consolidation loan by her bank.

“After 7 years, Donna had paid $25,000 in interest and still owed $10,000,” the report said. “She was misled into getting $2,600 of insurance on a $10,000 loan and then also paid interest on the insurance. The lender also repeatedly changed the terms of Donna’s loan without telling her and charged her a number of refinance fees.

In 2019, ACORN sent a written submission to the House of Commons ahead of this year’s budget. Among their three recommendations are providing a $10-a-month internet plan to low-income Canadians, modernizing the employment insurance system, and making banking safer by ending predatory lending.

That report noted that nearly one in two Canadian workers live paycheck to paycheque, with millions of workers “at an unforeseen expense” far from “spiraling debt”.

Earlier this month, Nova Scotia Utilities and Review Board (UARB) has reduced the maximum cost of borrowing for payday loans in the province from $19 to $17 per $100. This amount will drop further to $15 per $100 on January 1, 2024. The new regulations, which are due to come into effect on September 1, will also see the maximum interest rate charged on outstanding default balances reduced to 30%. That’s still more than five percent higher interest than the average credit card company.

“Despite numerous comment letters arguing that the payday loan industry should be ‘shut down’ in Nova Scotia or that the maximum cost of borrowing should be significantly reduced, the Commission remains aware that the federal and provincial governments have put in place legislation allowing lenders to offer payday loans to the public,” reads the UARB report.

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Akbank TAS (OTCMKTS:AKBTY) is trading up 6.2% https://woonsockethigh.org/akbank-tas-otcmktsakbty-is-trading-up-6-2/ Sat, 18 Jun 2022 15:08:56 +0000 https://woonsockethigh.org/akbank-tas-otcmktsakbty-is-trading-up-6-2/

Akbank TAS (OTCMKTS: AKBTYGet a rating) shares rose 6.2% in Thursday’s session. The company traded as low as $1.03 and last traded at $1.03. Approximately 139,315 shares were traded during trading, a 412% increase from the average daily volume of 27,188 shares. The stock had previously closed at $0.97.

Separately, JPMorgan Chase & Co. raised its price target on Akbank TAS from 12.70 to 15.00 and gave the stock an “overweight” rating in a Thursday, May 5 research note.

The company has a 50-day simple moving average of $1.07 and a two-hundred-day simple moving average of $1.08.

The company also recently declared a dividend, which was paid on Friday, April 8. Investors of record on Thursday, March 31 received a dividend of $0.0227 per share. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, March 30.

Akbank TAS Company Profile (OTCMKTS: AKBTY)

Akbank TAS, together with its subsidiaries, provides various banking products and services in Turkey and abroad. It operates through: Retail Banking; Commercial Bank, SME Bank, Investment Bank and Private Bank; and segments of the treasury. The Company’s retail banking services include deposit accounts, personal loans, commercial installment loans, credit cards, insurance products and asset management services, as well as bank cards, investment fund trading, automatic payment, foreign currency trading, safe deposit box rental, checks, money transfer, investment banking, and telephone and Internet banking.

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Most popular options for shopping https://woonsockethigh.org/most-popular-options-for-shopping/ Thu, 16 Jun 2022 20:45:39 +0000 https://woonsockethigh.org/most-popular-options-for-shopping/

Consumers looking to buy everything from travel has a MacBook to newer, fashionable jeans have the option to finance the cost of their purchase over time with buy now, pay later.

BNPL allows consumers to purchase items online or in-store, and spread the cost over a few weeks or months.

There are many BNPL providers, including To affirm, After-payment, zipper, “Pay in 4” from PayPal, Klarnaand Sezzle.

New options are introduced all the time with Apple jumps into the BPNL game early June and PayPal announcing in mid-June that it was adding options for longer-term installment loans for higher cost purchases not currently covered by its Pay-in-4 product.

BUY NOW, PAY LATER: Popular with consumers, but should users worry about high debt?