Bankroll – HSMC Ohio http://hsmcohio.com/ Tue, 27 Sep 2022 03:57:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://hsmcohio.com/wp-content/uploads/2021/04/default-150x150.png Bankroll – HSMC Ohio http://hsmcohio.com/ 32 32 What’s new with Apple Pay Later? It is now postponed to 2023 https://hsmcohio.com/whats-new-with-apple-pay-later-it-is-now-postponed-to-2023/ Tue, 27 Sep 2022 03:57:03 +0000 https://hsmcohio.com/whats-new-with-apple-pay-later-it-is-now-postponed-to-2023/ (Pocket-lint) – Apple Pay Later might not arrive until next year. According to a new report, the upcoming “buy now, pay later” feature, which will allow eligible US customers to split their purchases into four equal payments over six weeks, is being delayed until 2023 due to technical engineering issues. Apple announced Apple Pay Later […]]]>


(Pocket-lint) – Apple Pay Later might not arrive until next year. According to a new report, the upcoming “buy now, pay later” feature, which will allow eligible US customers to split their purchases into four equal payments over six weeks, is being delayed until 2023 due to technical engineering issues.

Apple announced Apple Pay Later at WWDC last summer. It was supposed to be a new feature in iOS 16 – or an update to it. However, Apple Pay Live is still not live. Journalist Mark Gurman has now claimed that Apple Pay Later could launch in spring 2023 as part of an iOS 16.4 update. “This leads me to believe that the company is not completely certain when Apple Pay Later will be ready for launch,” Gurman wrote in his Power-Up Bulletin. “The feature may not arrive until iOS 16.4 in the spring. I hear there were some pretty significant technical and engineering challenges in rolling out the service, which caused some delays.”

POCKET-LINT VIDEO OF THE DAY

Apple Pay Later will be a feature of the Apple Wallet app. It will be available to Apple Pay users who shop online and in apps on iPhone and iPad. Apple basically offers zero-cost installment loans to users. That said, people are “subject to eligibility checks and approvals,” and Apple hasn’t specified what its eligibility checks include. But there are no interest charges when you use Apple Pay Later, and there are no fees.

For more on how Apple Pay Later will work when it arrives, check out Pocket-lint’s guide: What is Apple Pay Later and how does it allow you to “buy now, pay for the diaper”?

Written by Maggie Tillman.

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Personal finance: As “buy now, pay later” plans grow, so do delinquencies https://hsmcohio.com/personal-finance-as-buy-now-pay-later-plans-grow-so-do-delinquencies/ Sat, 24 Sep 2022 14:54:16 +0000 https://hsmcohio.com/personal-finance-as-buy-now-pay-later-plans-grow-so-do-delinquencies/ Americans have become fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers. Buy now, pay later loans allow users to pay for items such as new sneakers, electronics, or luxury goods in installments. Companies such as Affirm, Afterpay, Klarna, and PayPal have created popular financial […]]]>

Americans have become fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers.

Buy now, pay later loans allow users to pay for items such as new sneakers, electronics, or luxury goods in installments. Companies such as Affirm, Afterpay, Klarna, and PayPal have created popular financial products around these short-term loans, especially for young borrowers who fear endless credit card debt.

Now, as the industry accumulates customers, chargebacks are on the rise. Inflation squeezes consumers, making it harder to pay off debt. Some borrowers do not budget properly, especially if persuaded to take out multiple loans, while others may have been credit risks to begin with.

“You have an industry with a higher concentration of subprime borrowers in a market that hasn’t been effectively tested (that kind of economy), and you have a kind of toxic brew of worries,” Michael Taiano said. , an analyst at Fitch Ratings, who co-authored a report in July highlighting some of the industry’s concerns.

The most popular type of buy now, pay later loan allows for four payments over six weeks – one payment at the time of purchase and three more that borrowers often try to synchronize with pay periods. Longer term loans for larger purchases are also available. Most short-term loans bear no interest. Companies that charge interest can clearly state in advance how much a borrower will pay in finance charges.

Given these characteristics, consumer advocates and financial advisors initially saw buy now, pay later plans as a potentially healthier form of consumer debt if used correctly. The main concern was late fees, which could be a heavy financial burden on a small purchase if a borrower was late on a payment. Fees can reach $34, plus interest. But now that chargebacks are on the rise and companies are more aggressive in marketing their products, advocates see the need for additional regulation.

The industry is growing rapidly, according to a report by the Consumer Financial Protection Bureau. Americans took out about $24.2 billion in loans under buy-it-now, pay-later programs in 2021, up from just $2 billion in 2019. That industry-wide figure is not expected than climb even more. Klarna customers purchased $41 billion worth of products on its service globally in the first six months of the year, up 21% from a year ago. At PayPal, revenue from its “buy now, pay later” services more than tripled in the second quarter to $4.9 billion.

Technology analyst Jasmine Francis, 29, said she first used a buy now, pay later service in 2018 to buy clothes from fast fashion brand Forever21.

“I remember I just got a cart,” she said. “At first I thought, ‘Something has to go back’, then I saw Afterpay at checkout – you don’t pay for everything right now, but you get it right away. It was from music to my ears.

It is unclear to what extent clients are using buy now, pay later loans healthily. Fitch found that chargebacks on these services rose sharply in the 12 months ended March 31, while chargebacks on credit cards remained flat. And according to the CFPB, a growing percentage of the loans the industry makes are being written off — or loans it considered so delinquent they were likely uncollectible. The industry charge rate was 2.39% in 2021, a figure that is now likely higher given the economic turmoil this year. In 2020, this figure was 1.83%.

“This upward trend in delinquencies continues,” CFPB director Rohit Chopra said on a call with reporters.

Credit reporting company TransUnion found that buy now, pay later borrowers are using the product just as much as credit cards, racking up debt on top of additional debt. A Morning Consult poll released this week found that 15% of buy now, pay later customers use the service for routine purchases, such as groceries and gas, a pattern of behavior that is ringing alarm bells at home. financial advisers. The CFPB report also found that a small but growing number of Americans also use these products for routine purchases.

“If these buy now, pay later plans aren’t budgeted properly, they can have a cascading impact on a person’s entire financial life,” said André Jean-Pierre, a former Morgan Stanley wealth adviser who now runs his own financial planning company focused on helping black Americans save and budget properly.

Another concern of consumer advisors and advocates, as well as lawmakers and regulators in Washington, is the ease with which consumers can layer on these installment loans.

Speaking at a Senate Banking Committee hearing on new financial products, Sen. Sherrod Brown, D-Ohio, highlighted the benefits of plans that allow consumers to pay for things in installments. But he also criticized the way the industry promotes the plans.

“The ads encourage consumers to use these bundles for multiple purchases, across multiple online stores, racking up debt they can’t afford to repay,” Brown said.

Short-term loans are potentially problematic because they are not reported on a consumer’s credit profile with Transunion and Experian. Additionally, buy now, pay later, industry customers are young, which means they have little credit history. In theory, a borrower could take out multiple short-term loans across multiple buy-now, pay-later businesses — a practice known as “loan stacking” — and they would never show up on a credit report. If a person puts in too many buy now, pay later items, budgeting can be difficult.

“It’s a blind spot for the industry,” Fitch’s Taiano said.

In a statement, the industry trade group “buy now, pay later” pushed back on the characterization that its products could burden borrowers with too much debt.

“With zero to low interest rates, flexible payment terms and transparent terms and conditions, BNPL helps consumers manage their cash responsibly and live healthier financial lives,” said Penny Lee, CEO of the Financial Technology Association.

Meanwhile, providers of buy-it-pay-later services see rising chargebacks as a natural consequence of growth, but also an indication that inflation is hitting the Americans most likely to use these services the most. harder.

“We’ve seen some stress (among those with the lowest credit scores), and those are starting to struggle,” said Max Levchin, founder and CEO of Affirm, one of the largest businesses that buy now, pay later.

“I wouldn’t call it some sort of preamble to a potential slowdown, but it’s not the same kind of smooth sailing,” he said, adding that Affirm is taking a more conservative approach to loans.

Buy now, pay later took off in the United States after the Great Recession. Analysts said the product was largely untested during a large period of financial hardship, unlike mortgages, credit cards or car loans.

Despite these concerns, the consensus is buy now, pay later, companies are here to stay. Affirm, Klarna, Afterpay, which is owned by Block Inc., as well as PayPal and others are now widely integrated into internet commerce.

Moreover, the growth of the industry attracts more and more players. Tech titan Apple announced earlier this summer Apple Pay Later, where users can make purchases on a four-payment plan over six weeks.

“I usually schedule the purchases I make using PayPal ‘Pay in 4’ so that my due dates for purchases land on my payment dates because due dates are every two weeks,” said said Desiree Moore, 35.

Moore said she tries to use buy-it-now, pay-later plans to cover purchases that aren’t part of her usual monthly budget, so as not to take money away from her children’s needs. She is increasingly using the plans with inflation making items more expensive and so far able to keep up with the payments.

Francis, the technical analyst, said it is now common for his friends to pay for trips with installment loans, so as not to completely empty their bank accounts in an emergency.

“If I come back from vacation and I have two flat tires, and I just spent all that money on plane tickets, that’s $400 that you don’t have right now,” he said. she stated. “Most people don’t have savings. They’ve got just enough for those flat tires.

]]> Eagle Bancorp, Inc. (NASDAQ:EGBN) Declares Quarterly Dividend of $0.45 https://hsmcohio.com/eagle-bancorp-inc-nasdaqegbn-declares-quarterly-dividend-of-0-45/ Thu, 22 Sep 2022 13:26:31 +0000 https://hsmcohio.com/eagle-bancorp-inc-nasdaqegbn-declares-quarterly-dividend-of-0-45/ Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) announced a quarterly dividend on Tuesday, September 20, Zacks reports. Shareholders of record on Monday, October 10 will receive a dividend of 0.45 per share from the financial services provider on Monday, October 31. This represents an annualized dividend of $1.80 and a yield of 3.82%. […]]]>

Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) announced a quarterly dividend on Tuesday, September 20, Zacks reports. Shareholders of record on Monday, October 10 will receive a dividend of 0.45 per share from the financial services provider on Monday, October 31. This represents an annualized dividend of $1.80 and a yield of 3.82%. The ex-date of this dividend is Thursday, October 6.

Eagle Bancorp has a payout ratio of 36.1%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect Eagle Bancorp to earn $5.05 per share next year, meaning the company should continue to be able to cover its $1.80 annual dividend. with an expected future payout ratio of 35.6%.

Eagle Bancorp is trading down 0.9%

Eagle Bancorp shares opened at $47.12 on Thursday. Eagle Bancorp has a 12-month low of $44.85 and a 12-month high of $63.84. The company’s fifty-day simple moving average is $48.22 and its two-hundred-day simple moving average is $50.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 0.06. The company has a market capitalization of $1.51 billion, a price-earnings ratio of 9.70 and a beta of 0.92.

Eagle Bancorp (NASDAQ:EGBN – Get a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a return on equity of 13.01% and a net margin of 39.92%. The company posted revenue of $88.48 million in the quarter, compared to analysts’ expectations of $91.00 million. In the same quarter of the previous year, the company achieved EPS of $1.50. As a group, equity analysts predict Eagle Bancorp will post earnings per share of 4.97 for the current fiscal year.

Eagle Bancorp Institutional Negotiation

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Eagle Bancorp by 2.3% during the second quarter. Legal & General Group Plc now owns 92,779 shares of the financial services provider valued at $4,398,000 after acquiring 2,061 additional shares in the last quarter. Goldman Sachs Group Inc. increased its position in Eagle Bancorp by 178.6% during the second quarter. Goldman Sachs Group Inc. now owns 174,169 shares of the financial services provider valued at $8,257,000 after acquiring an additional 111,664 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Eagle Bancorp by 50.6% during the second quarter. Thrivent Financial for Lutherans now owns 39,172 shares of the financial services provider valued at $1,857,000 after acquiring an additional 13,165 shares in the last quarter. Price T Rowe Associates Inc. ® increased its position in Eagle Bancorp by 1.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,864 shares of the financial services provider valued at $942,000 after acquiring 230 additional shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Eagle Bancorp by 114.7% during the second quarter. AQR Capital Management LLC now owns 54,849 shares of the financial services provider valued at $2,600,000 after acquiring an additional 29,307 shares in the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s shares.

Wall Street analysts predict growth

Separately, StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday.

About Eagle Bancorp

(Get a rating)

Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various commercial and consumer lending products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.

Featured articles

Dividend history for Eagle Bancorp (NASDAQ:EGBN)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider Eagle Bancorp, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Eagle Bancorp was not on the list.

While Eagle Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

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Dividend announcement EGBN $0.4500/share 09/20/2022 https://hsmcohio.com/dividend-announcement-egbn-0-4500-share-09-20-2022/ Wed, 21 Sep 2022 00:26:38 +0000 https://hsmcohio.com/dividend-announcement-egbn-0-4500-share-09-20-2022/ Eagle Bancorp Inc (MD) (NASDAQ:EGBN) declared on 09/20/2022 a dividend of $0.4500 per share payable October 31, 2022 to shareholders of record as of October 10, 2022. Eagle Bancorp Inc (MD) (NASDAQ: EGBN) has paid dividends since 2005, has a current dividend yield of 3.8079118729% and has increased dividends for 2 consecutive years. The market […]]]>

Eagle Bancorp Inc (MD) (NASDAQ:EGBN) declared on 09/20/2022 a dividend of $0.4500 per share payable October 31, 2022 to shareholders of record as of October 10, 2022.

Eagle Bancorp Inc (MD) (NASDAQ: EGBN) has paid dividends since 2005, has a current dividend yield of 3.8079118729% and has increased dividends for 2 consecutive years.

The market capitalization of Eagle Bancorp Inc (MD) is $1,516,657,950 and has a PE ratio of 10.34. The stock price closed yesterday at $47.27 and has a 52-week low/high of $44.85 and $63.84.

Eagle Bancorp is a bank holding company. Through its subsidiary, Eaglebank (the Bank), Co. is engaged in community banking primarily in northern Virginia, suburban Maryland and Washington, DC. The Bank provides commercial banking services to its businesses and customers, as well as retail banking services. living and/or working primarily in the Bank’s market area. These services include commercial loans; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; home equity lines of credit, personal lines of credit and term loans; consumer installment loans; and residential mortgages.

For more information on Eagle Bancorp Inc (MD), click here.

Current dividend information for Eagle Bancorp Inc (MD) as of the date of this press release is:

Dividend declaration date: September 20, 2022
Ex-dividend date: October 6, 2022
Dividend record date: October 10, 2022
Dividend payment date: October 31, 2022
Dividend amount: $0.4500

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Banco de Chile (NYSE:BCH) Short Interest Update https://hsmcohio.com/banco-de-chile-nysebch-short-interest-update/ Sun, 18 Sep 2022 10:00:22 +0000 https://hsmcohio.com/banco-de-chile-nysebch-short-interest-update/ Bank of Chile (NYSE: BCH – Get a rating) saw significant growth in short-term interest in August. As of August 31, there was short interest totaling 160,500 shares, up 14.7% from the total of 139,900 shares as of August 15. Based on an average trading volume of 190,400 shares, the day-to-cover ratio is currently 0.8 […]]]>

Bank of Chile (NYSE: BCH – Get a rating) saw significant growth in short-term interest in August. As of August 31, there was short interest totaling 160,500 shares, up 14.7% from the total of 139,900 shares as of August 15. Based on an average trading volume of 190,400 shares, the day-to-cover ratio is currently 0.8 days.

Banco de Chile trades up 1.1%

Shares of NYSE BCH opened at $18.74 on Friday. The company’s 50-day moving average price is $18.74 and its 200-day moving average price is $19.78. The company has a market capitalization of $9.47 billion, a PE ratio of 5.54, a P/E/G ratio of 0.81 and a beta of 0.36. Banco de Chile has a 52-week low of $15.60 and a 52-week high of $22.74. The company has a debt ratio of 3.17, a quick ratio of 1.46 and a current ratio of 1.46.

Wall Street analysts predict growth

A number of brokerages have recently commented on BCH. Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a Monday, August 22 research note. Itaú Unibanco downgraded Banco de Chile from an “outperforming” rating to a “market performance” rating and set a price target of $22.00 for the company. in a research report on Tuesday, June 7. Itau BBA Securities downgraded Banco de Chile from an “outperform” rating to a “market performer” rating and set a price target of $22.00 for the company. in a research report on Tuesday, June 7. To finish, StockNews.com upgraded Banco de Chile from a “hold” rating to a “buy” rating in a Monday, September 12 research report. Four investment analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their positions in the company. Itau Unibanco Holding SA bought a new position in shares of Banco de Chile in the fourth quarter for a value of approximately $7,571,000. Investors Research Corp increased its holdings of Banco de Chile shares by 18.7% in the first quarter. Investors Research Corp now owns 48,025 shares of the bank valued at $1,029,000 after buying an additional 7,550 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings of Banco de Chile shares by 107.8% in the first quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after buying an additional 10,935 shares in the last quarter. Banco BTG Pactual SA bought a new position in shares of Banco de Chile during the first quarter valued at approximately $3,268,000. Finally, Crossmark Global Holdings Inc. increased its equity stake in Banco de Chile by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank valued at $522,000 after buying 612 additional shares in the last quarter. Institutional investors hold 1.10% of the company’s shares.

Banco de Chile Company Profile

(Get a rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

Read more

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider Banco de Chile, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Banco de Chile was not on the list.

While Banco de Chile currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

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CFPB Forced to Get Creative with Buy Now, Pay Later Protections https://hsmcohio.com/cfpb-forced-to-get-creative-with-buy-now-pay-later-protections/ Fri, 16 Sep 2022 09:07:25 +0000 https://hsmcohio.com/cfpb-forced-to-get-creative-with-buy-now-pay-later-protections/ The Consumer Financial Protection Bureau will need to use a variety of tools to oversee buy now, pay later products, as federal consumer protection laws won’t always apply to the growing finance industry. CFPB director Rohit Chopra said on Thursday he wants to bring credit card-like protections to the industry, including improving disclosure, fraud and […]]]>

The Consumer Financial Protection Bureau will need to use a variety of tools to oversee buy now, pay later products, as federal consumer protection laws won’t always apply to the growing finance industry.

CFPB director Rohit Chopra said on Thursday he wants to bring credit card-like protections to the industry, including improving disclosure, fraud and dispute resolution protections and other related issues. to buy now, pay later (BNPL) products. These are generally short-term installment loans repaid in four installments every two weeks.

Some traditional consumer protection laws, such as the Truth in Lending Act and the Credit CARD Act, do not cover BNPL products. The office will need to take more indirect routes, such as issuing advisory opinions on how existing laws apply to the BNPL or enforcement actions to bring complaints of unfair, deceptive or abusive practices (UDAAP).

“Many of the restrictions and requirements that are discussed in the report simply do not apply to many traditional BNPL products,” said Jonathan Pompan, president of Venable LLP’s consumer financial services group.

In a highly anticipated report on Thursday outlining its preliminary plans for monitoring the industry, the bureau focused on BNPL’s five largest suppliers: Affirm Holdings Inc.; Afterpay, now a unit of Block Inc.; Klarna; Paypal Holdings Inc.; and Zip.

Some of these companies had insufficient information on loan terms, according to the report. The CFPB also cited a lack of uniform dispute resolution processes, fraud protection, and concerns about the use of customer data as risks in products.

Credit card companies must comply with existing laws for many of these issues. The problem for the CFPB is that the way these bylaws are drafted may limit the CFPB’s ability to extend these protections to the BNPL.

Other paths

The CFPB said it plans to review new regulations and develop advisory opinions to push BNPL providers to update their operations.

Advisory opinions are similar to advice, but they have more implicit force. The CFPB used them under Chopra to push for changes in a multitude of industries without going through the full notice-and-comment rule-making process.

The CFPB can also use its UDAAP powers to regulate the industry, including through law enforcement.

“UDAAP applies to a lot of things, and I think part of the CFPB’s recent push is trying to extend the laws where you didn’t think they applied,” Allison said. Schoenthal, co-president of consumer banking and financial services at Goodwin Procter LLP. practice.

Easy Pickups

Certain BNPL practices cited in its report fall under the statutory authority of the CFPB.

An example is the requirement by some BNPL companies that consumers sign up for automatic payment which is activated when a payment is due. The CFPB could tackle this problem by using its powers under the Electronic Funds Transfer Act.

The CFPB also has the power to designate large companies in any market for oversight. As part of the CFPB oversight process — which banks with more than $10 billion in assets and other large debt collection, payday lending, and other market businesses undergo — examiners from the agency can review all of a consumer finance company’s books and records for problems.

The CFPB has said it wants to start supervising the biggest BNPL firms and has invited them to volunteer. If they fail to do so, the CFPB can either create a broader participation rule identifying the companies subject to monitoring, or determine that a consumer finance company is “at risk” and subject it to temporary monitoring. .

‘Here to stay’

The buy now, pay later market has been growing rapidly since 2020, a rise that coincided with the coronavirus pandemic. Industry revenue grew by about 970% between 2019 and 2021, while lending volume jumped more than 1,000% during that time, the bureau said.

Industry players feared the CFPB would find a host of consumer protection issues in buy now, pay later. But the bureau instead found that the industry “imposes significantly lower direct financial costs on consumers than traditional credit products.”

The agency also found that companies’ underwriting tools could minimize overuse and other potential problems.

“While we can expect regulatory pressure around certain business practices, the release serves as a clear reaffirmation that the BNPL product is here to stay,” said Isaac Boltansky, director of policy research at BTIG.

Industry Maturation

The CFPB report lays out a regulatory roadmap for BNPL firms to follow.

Some companies, like Affirm, already provide mandatory information under the Truth in Lending Act and other protections cited by the CFPB as lacking in the broader industry.

Other companies that offer BNPL also issue more traditional credit products, such as longer-term installment loans, which are subject to various consumer credit laws. So beefing up protections on BNPL loans might not be that difficult, said Ariana-Michele Moore, an adviser at Aite-Novarica Group.

“I don’t think it’s going to affect them that much. Many of them are already doing that,” she said.

Even without pressure from the CFPB, many BNPL firms could see updating their consumer protection efforts as good for business as they compete with fintechs and traditional financial firms that offer such protections. said Christine Roberts, senior vice president of Citizens Bank who leads their Citizens Pay unit. , which offers a BNPL product.

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Tax extension, stimulus updates, gas prices, student loans… https://hsmcohio.com/tax-extension-stimulus-updates-gas-prices-student-loans/ Wed, 14 Sep 2022 03:04:22 +0000 https://hsmcohio.com/tax-extension-stimulus-updates-gas-prices-student-loans/ Hello everyone and welcome to another edition of our MARCA in English daily financial news blog for the United States for this Tuesday, September 13. In this space, we cover a variety of financial issues from the United States of America and provide you benefit plans information and generalities money saving tips. In today’s blog […]]]>

Hello everyone and welcome to another edition of our MARCA in English daily financial news blog for the United States for this Tuesday, September 13.

In this space, we cover a variety of financial issues from the United States of America and provide you benefit plans information and generalities money saving tips.

In today’s blog we will discuss Tax extensions, Stimulus payments and other perks that are available and also how to save money on gas price.

So, follow along below as we bring you the perk information you need, with the most recent updates being those closest to the top.

U.S. Finance Updates, Tuesday, September 13: The latest money-saving tips and benefits news

This MARCA Financial news blog in English is updated daily, weekends and weekdays, as we bring you the details you need about the best employee benefits programs in the UNITED STATES.

We explain what benefit programs are available in your state and who is eligible to receive money through them, as well as a description of what you need to do to apply.

As mentioned above, this includes stimulus checks, which may exist in one form or another depending on where you live and your state government’s current policies.

With inflation and gas price always high, we also bring you money-saving tips, like a list of the cheapest gas stations in the city where you live.

So, as always, there’s a lot to discuss on this financial news blog. You can follow with this Tuesday’s U.S. financial news updates by keeping this tab open and scrolling through it throughout the day.

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Synchrony Financial (NYSE:SYF) Receives an Average “Moderate Buy” Recommendation from Brokerages https://hsmcohio.com/synchrony-financial-nysesyf-receives-an-average-moderate-buy-recommendation-from-brokerages/ Sun, 11 Sep 2022 06:46:40 +0000 https://hsmcohio.com/synchrony-financial-nysesyf-receives-an-average-moderate-buy-recommendation-from-brokerages/ Synchrony Financial (NYSE: SYF – Get a rating) received an average rating of “moderate buy” from the seventeen analysts who currently cover the stock, MarketBeat reports. One research analyst rated the stock with a sell rating, four gave the company a hold rating and seven gave the company a buy rating. The average 1-year target […]]]>

Synchrony Financial (NYSE: SYF – Get a rating) received an average rating of “moderate buy” from the seventeen analysts who currently cover the stock, MarketBeat reports. One research analyst rated the stock with a sell rating, four gave the company a hold rating and seven gave the company a buy rating. The average 1-year target price among brokerages that updated their coverage on the stock in the past year is $44.00.

A number of brokerages have recently commented on SYF. StockNews.com downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a Thursday, Aug. 25, report. Credit Suisse Group raised its price target on Synchrony Financial shares from $46.00 to $47.00 and gave the company an “outperform” rating in a Tuesday, July 19 research note. Barclays cut its price target on Synchrony Financial shares from $64.00 to $49.00 and set an “overweight” rating for the company in a Monday July 11 research note. Stephens raised his price target on Synchrony Financial shares from $29.00 to $35.00 and gave the company an “equal weight” rating in a Tuesday, July 19 research note. Finally, Piper Sandler set a price target of $41.00 on Synchrony Financial shares in a Tuesday, July 19 research note.

Synchrony financial price performance

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NYSE:SYF shares opened at $33.42 on Friday. The company’s fifty-day moving average price is $32.76 and its 200-day moving average price is $34.48. The company has a market capitalization of $16.10 billion, a price/earnings ratio of 4.88, a PEG ratio of 0.24 and a beta of 1.56. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $52.49. The company has a debt ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.21.

Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly results on Monday, July 18. The financial services provider reported EPS of $1.60 for the quarter, beating analyst consensus estimates of $1.43 by $0.17. The company posted revenue of $3.80 billion for the quarter, versus analyst estimates of $2.74 billion. Synchrony Financial had a net margin of 22.76% and a return on equity of 27.06%. In the same quarter of the previous year, the company achieved EPS of $2.12. On average, equity research analysts expect Synchrony Financial to post earnings per share of 5.79 for the current fiscal year.

Synchrony Financial increases its dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11. Shareholders of record on Monday August 1 received a dividend of $0.23. This represents an annualized dividend of $0.92 and a dividend yield of 2.75%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, July 29. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.43%.

Institutional investors weigh in on Synchrony Financial

Several institutional investors and hedge funds have recently changed their holdings in SYF. SeaCrest Wealth Management LLC bought a new stake in shares of Synchrony Financial in Q2 for a value of approximately $28,000. Clear Street Markets LLC increased its stake in Synchrony Financial shares by 392.0% in Q2. Clear Street Markets LLC now owns 1,048 shares of the financial services provider worth $29,000 after acquiring 835 additional shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Synchrony Financial in Q2 for a value of approximately $31,000. Quent Capital LLC increased its stake in Synchrony Financial shares by 50.1% in Q1. Quent Capital LLC now owns 1,003 shares of the financial services provider worth $35,000 after acquiring 335 additional shares in the last quarter. Finally, Column Capital Advisors LLC bought a new stock position in Synchrony Financial in Q1 for about $37,000. 94.12% of the shares are held by hedge funds and other institutional investors.

Synchrony Financial Company 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.

Further reading

Analyst Recommendations for Synchrony Financial (NYSE: SYF)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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StockNews.com starts covering Salisbury Bancorp (NASDAQ:SAL) https://hsmcohio.com/stocknews-com-starts-covering-salisbury-bancorp-nasdaqsal/ Sat, 10 Sep 2022 06:33:46 +0000 https://hsmcohio.com/stocknews-com-starts-covering-salisbury-bancorp-nasdaqsal/ Stock market analysts at StockNews.com initiated a hedge on the shares of Salisbury Bancorp (NASDAQ:SAL – Get a rating) in a research note published Saturday. The brokerage has placed a “hold” rating on the bank’s shares. Salisbury Bancorp share performance Salisbury Bancorp shares opened at $23.50 on Friday. The company has a market capitalization of […]]]>

Stock market analysts at StockNews.com initiated a hedge on the shares of Salisbury Bancorp (NASDAQ:SAL – Get a rating) in a research note published Saturday. The brokerage has placed a “hold” rating on the bank’s shares.

Salisbury Bancorp share performance

Salisbury Bancorp shares opened at $23.50 on Friday. The company has a market capitalization of $135.92 million, a P/E ratio of 9.07 and a beta of 0.72. Salisbury Bancorp has a 52-week minimum of $22.50 and a 52-week maximum of $29.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt ratio of 0.23. The company’s 50-day moving average is $23.59 and its two-hundred-day moving average is $18.95.

Salisbury Bancorp (NASDAQ:SAL – Get a rating) last announced its results on Wednesday, July 20. The bank reported earnings per share (EPS) of $0.66 for the quarter, missing analyst consensus estimates of $0.72 per ($0.06). Salisbury Bancorp had a return on equity of 11.24% and a net margin of 25.89%. The company posted revenue of $14.17 million for the quarter, versus $13.80 million expected by analysts. Research analysts expect Salisbury Bancorp to post an EPS of 2.82 for the current financial year.

Institutional investors weigh in on Salisbury Bancorp

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Salisbury Bancorp by 4.0% in the second quarter. State Street Corp now owns 11,277 shares of the bank valued at $532,000 after acquiring 432 additional shares during the period. MCF Advisors LLC acquired a new stake in Salisbury Bancorp in the first quarter worth $25,000. Resources Management Corp CT ADV increased its stake in Salisbury Bancorp by 37.7% in the second quarter. Resources Management Corp CT ADV now owns 1,825 shares of the bank valued at $86,000 after acquiring an additional 500 shares during the period. Asset Dedication LLC acquired a new stake in Salisbury Bancorp in the first quarter worth $33,000. Finally, Renaissance Technologies LLC increased its stake in Salisbury Bancorp by 6.0% in the second quarter. Renaissance Technologies LLC now owns 12,300 shares of the bank valued at $581,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds hold 12.74% of the company’s shares.

About Salisbury Bancorp

(Get a rating)

Salisbury Bancorp, Inc operates as a bank holding company for Salisbury Bank and Trust Company which provides commercial banking, consumer finance, retail banking, and trust and wealth advisory services. It offers various deposit products to individuals and businesses. The company also provides loans, such as residential and commercial real estate loans; building loans; working capital loans; equipment loans; and consumer loans, including home equity loans and lines of credit, secured loans, and auto and personal installment loans.

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This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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Financial stress rises, demand for credit cards and debt increases https://hsmcohio.com/financial-stress-rises-demand-for-credit-cards-and-debt-increases/ Tue, 06 Sep 2022 09:01:02 +0000 https://hsmcohio.com/financial-stress-rises-demand-for-credit-cards-and-debt-increases/ Equifax Canada Market Pulse Quarterly Credit Trends Report TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) — Total consumer debt soared to $2.32 trillion, an 8.2% increase in Q2 2022 from a year ago, according to the most recent Market Pulse consumer credit trends and outlook report from Equifax Canada. Rising new loans and higher inflation-related spending […]]]>

Equifax Canada Market Pulse Quarterly Credit Trends Report

TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) — Total consumer debt soared to $2.32 trillion, an 8.2% increase in Q2 2022 from a year ago, according to the most recent Market Pulse consumer credit trends and outlook report from Equifax Canada. Rising new loans and higher inflation-related spending pushed non-mortgage debt to $591.4 billion, up 5.2% from Q2 2021. Average non-mortgage debt per consumer is now $21,128, an increase of 2.4% over Q2 2021.

“The cost of living has increased across Canada and indeed around the world, with rising inflation seen in essentials like housing and energy as well as many other goods and services,” said Rebecca Oakes , Vice President of Advanced Analytics at Equifax Canada. “Financial stress is becoming a reality for many more Canadians. Its impact on consumer credit is not only visible in everyday credit card spending, but also in other non-mortgage debt like auto loans and lines of credit, where balances are on the rise.

Credit card demand and balances continue to rise
During the last quarter, credit card balances reached their highest level since the fourth quarter of 2019 and increased by 6.4% compared to the first quarter figures. missing payments. Credit card balances for consumer segments with a credit score below 620 increased by 7.4% compared to the first quarter of 2022 and showed an increase of 16.2% compared to the second quarter of 2021. Credit scores generally range on a scale of 300 to 900, the higher the better. . Scores of 600 and above would be considered good by most lenders.

“Credit card spending is at historically high levels,” Oakes added. “Strong consumer demand for credit cards means a competitive market for lenders. Consequently, the credit limits offered on the new cards are much higher than what we have seen in previous periods. »

The average credit limit on new cards is over $5,800, the highest in seven years. Average monthly credit card spend per consumer cardholder was nearly $2,370 in Q2, up $427 (22%) from Q2 2021. New card volume is also up one quarter to quarter with an increase of 16.2% compared to the last quarter.

The housing market slowdown had little impact on the amount of new mortgages, but monthly payments are on the rise
New mortgage volume fell 16.4% in Q2 2022 from highs in Q2 2021. High home prices impacted affordability for all consumers, but particularly homebuyers. first house. Although the slowdown in price growth is positive, the average loan size of first-time buyers fell only 0.5% this quarter compared to the previous quarter, but their average monthly payments increased by 10%.

The average loan size for new mortgages in Canada remained high at $367,500, with average loans for first-time home buyers at $430,700. In Toronto and Vancouver, the average loan size for first-time home buyers exceeded $600,000, despite some price correction in those markets.

“The cooling of the housing market in Canada should not be confused with an increase in affordability,” Oakes said. “Affordability does not only depend on the price of houses, but also on the monthly payment obligations for a mortgage loan. Higher interest rates coupled with high inflation can really increase a consumer’s monthly outgoings, when many might struggle to qualify for a mortgage.

High car prices drive up average auto loan amounts
Overall, new auto loan originations are down year over year. However, the subprime and deep subprime segments are beginning to see an increase in new issuance with increases of 1.2% and 4.1% in new auto loans and bank comparable loans* compared to the second quarter of 2021. The high prices car loans continue to push the average size of car loans ($28,000) and comparable loans ($33,000) up 4.8% and 10% respectively, compared to the same period last year.

Financial stress indicators on the rise
In the second quarter, consumer insolvency reached the highest levels since the start of the pandemic. This was mainly due to consumer proposals, which were up 20.7% over the previous year and accounted for 76% of all insolvencies.

An increase in the number of credit accounts with missed payments led to a 4% increase in delinquency rates for accounts over 90 days. This is the third consecutive quarter where an increase has been observed. However, strong growth in overall non-mortgage debt combined with a decline in the average balance of overdue accounts masked some of the emerging financial stress, with 90-plus-day balance default rates still remaining below levels. pre-COVID and showing a decrease from the previous year. .

“The good news is that government and lender support in 2020 and 2021 has resulted in an overall reduction in debt levels. Account balances where we see consumers starting to miss payments are lower than those where there are 12 months ago,” Oakes said. “The not so good news is that more than 100,000 more consumers missed a credit payment this quarter compared to last year. About one in 30 people using credit have defaulted on at least one credit commitment.

Credit cards and auto loans are seeing the largest increase in account-level delinquencies with respective increases of 5% and 5.9% from last quarter.

Regional variations in delinquency are also visible in the Prairie provinces, with Manitoba and Saskatchewan showing an increase in both account and balance delinquency rates. The delinquency rate for non-mortgage accounts 90 days and older increased from last quarter, by 6.1% in Manitoba and 5.8% in Saskatchewan. Insolvency rates are also up 4.3% from Q1 2022 for the western provinces.

“Rapidly rising inflation and interest rates are clouding the economic outlook. Early indications from our data suggest that financial strains are beginning to emerge; Canadians should continue to be mindful of their spending and debt,” Oakes advised.

Age group analysis – Debt and delinquency rate (excluding mortgages)

Medium
Debt
(Q2 2022)
Change in average debt
Year after year
(Q2 2022 vs. Q2 2021)
Delinquency rate ($)
(Q2 2022)
Default Rate ($) Change
Year after year
(Q2 2022 vs. Q2 2021)
18-25 $8,071 -3.92 % 1.38 % 9.47 %
26-35 $17,138 3.62 % 1.28 % -7.64 %
36-45 $25,703 4.70 % 0.97 % -10.65 %
46-55 $32,155 4.11 % 0.72 % -11.07 %
56-65 $26,652 2.17 % 0.65 % -9.01 %
65+ $14,610 0.49 % 0.77 % -6.81 %
Canada $21,128 2.36 % 0.88 % -7.92 %

Analysis of major cities – Debt and delinquency rate (excluding mortgages)

Town Medium
Debt
(Q2 2022)
Change in average debt
Year after year
(Q2 2022 vs. Q2 2021)
Delinquency rate ($)
(Q2 2022)
Default Rate ($) Change
Year after year
(Q2 2022 vs. Q2 2021)
Calgary $24,912 -1.71 % 1.11 % -7.92 %
Edmonton $24,345 -1.17 % 1.35 % -7.69 %
Halifax $20,990 -0.66 % 0.95 % -14.05 %
Montreal $16,422 4.64 % 0.75 % -9.03 %
Ottawa $18,893 3.67 % 0.78 % -9.06 %
Toronto $20,361 5:30 p.m. % 1.04 % -10:45 a.m. %
Vancouver $22,760 3.88 % 0.65 % -10.52 %
St. John’s $23,675 -1.28 % 1.07 % -17.26 %
Fort McMurray $37,640 -0.98 % 1.49 % -10.18 %

Provincial analysis -Debt and delinquency rate (excluding mortgages)

Province Medium
Debt
(Q2 2022)
Change in average debt
Year after year
(Q2 2022 vs. Q2 2021)
Delinquency rate ($)
(Q2 2022)
Default Rate ($) Change
Year after year
(Q2 2022 vs. Q2 2021)
Ontario $21,405 4.37 % 0.83 % -8.93 %
Quebec $18,429 2.80 % 0.59 % -4.45 %
New Scotland $20,701 -1.21 % 1.14 % -10.00 %
New Brunswick $21,888 -2.09 % 1.21 % -12.75 %
PEI $22,239 1.11 % 0.81 % -5.54 %
Newfoundland $22,909 -0.98 % 1.15 % -14.41 %
eastern region $21,641 -1.31 % 1.14 % -11.84 %
alberta $25,056 -1.84 % 1.25 % -7.91 %
Manitoba $16,956 0.11 % 1.15 % 5.05 %
Saskatchewan $22,582 -0.59 % 1.26 % 0.06 %
British Columbia $21,940 2.96 % 0.77 % -8.55 %
Western region $22,599 0.49 % 1.04 % -6.84 %
Canada $21,128 2.36 % 0.88 % -7.92 %

* Comparable bank loans are installment loans with limits between $5,000 and $100,000
** Based on Equifax data for Q2 2022

About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics and technology company, we play a vital role in the global economy by helping financial institutions, businesses, employers and government agencies make critical decisions with greater trust. Our unique blend of differentiated data, analytics and cloud technology generates insights to support decisions to move people forward. Headquartered in Atlanta and supported by more than 13,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia-Pacific region. For more information, visit Equifax.ca.

Contact:
Andrew Find Later
SELECT Public Relations
orderlater@selectpr.ca
(647) 444-1197

Heather Aggarwal
Equifax Canada Media Relations
MediaRelationsCanada@equifax.com

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