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Ex-Millington mayor gets probation in bribery case

By – Associated Press – Saturday, November 8, 2014

MEMPHIS, Tenn. (AP) – Former Millington Mayor Richard Hodges has been given three years probation after he demanded a cash loan from a local businessman in exchange for allowing the man to keep a Millington police badge.

Hodges was indicted on two counts of bribery, but pleaded guilty in September to the lesser offense of facilitation of bribery. He could have faced up to three years in prison and a $10,000 fine.

The Commercial Appeal reports (http://bit.ly/1tU3KDe) defense attorney Tommy Parker released a written statement saying that probation was appropriate given Hodges’ lack of criminal record, life of service and the nature of the infraction.

He said Hodges “wants the people of Millington to know that he made a mistake and regrets his actions.”

___

Information from: The Commercial Appeal, http://www.commercialappeal.com

[…]

Ghana Home Loans launches Quick Cash

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Business News of Saturday, 27 September 2014

Source: Daily Guide

Ghana Home Loans launches Quick Cash

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Ghana Home Loans (GHL), the nation’s leading provider of home finance, has unveiled a new product dubbed, ‘Quick Cash’ onto the market.

Quick Cash is aimed at assisting homeowners whether self-employed or salaried, resident or non-resident, to access funds within the shortest possible time.

Its introduction was motivated by GHL’s vision to unlock the full potential of residential property as the ultimate asset to the benefit of all home owners.

The minimum loan amount, which is GH?5,000 or its USD equivalent, is repayable within 24 months.

Speaking at the launch of Quick Cash, Principal Consultant at the Osei Tutu II Centre for Executive Education and Research, Nana Otuo Acheampong said GHL aims at expanding the reach of housing loans in the country.

“Once more GHL is pushing the boundaries of housing finance. This product is timely as it bridges the liquidity gap between financing needs and expected funds available in these periods of austerity,” he said.

Head of Mortgage Origination at Ghana Home Loans, Regina Baah, in a remark, disclosed that Quick Cash was a critical addition to the company’s product portfolio.

She indicated that the product was particularly suitable for self-employed mortgage applicants “since their loan applications would be assessed on future lump sum cash receivables.”

Since 2006, Ghana Home Loans has offered a diversified range of home loan products to assist thousands of Ghanaians to realize their dream of owing their houses.

The products include home purchase, land purchase, as well as home equity release mortgage.

Through its Home Completion and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applicants to complete or build dream homes across the country.

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Loan sharks that are taking fees before a penny is even lent out

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As a matter of course I come across dodgy firms, but here’s an entire industry that stinks.

It’s the world of online loan brokers, which appears to offer a lifeline to anyone desperate for extra cash.

The reality is that they’ll charge you for a supposed loan-finding service, your details will be passed to other firms who will swamp you with spam, and there’s a good chance you won’t be lent a penny.

One victim sums up what seems to be the common experience of this circus by describing it as “an exhausting, frustrating mess”.

It began with an attempt to apply for £100 via her iPhone.

“After being promised I’d been accepted I would then be declined but told they would pass me to partners who could lend to me,” said Bernice – like other victims, I’ll not use her full name.

“This happened over and over so I kept applying, unaware of any fee, and even if I had seen any mention of a fee I would have presumed this is if the money reaches your account.”

Her phone “went berserk with messages” and she has been fighting to get refunds, but even as one refund came into her account, a debit by another broker was taken from it.

“Do not get involved with these companies, no matter how desperate you are, it is not worth it,” she urged.

Jodi said she made a single application to a direct lender and got £150.

“The money was in my account by 2pm the next day – great, I thought,” she said. But by 2pm on the Saturday I’d had six sums taken from me and my balance was zero.”

After complaining, she’s had refunds from three of the firms, ­MyMoneyFinder, PeoplesLoan and Loan Marketing. Partial refunds have been offered by another two, Loan Spotter and Merlin Loan.

FinanceFacility, she said, not only refused the refund but it won’t respond to demands that it delete her phone and bank details from its system. And when she asked for a copy of the recording of her supposedly agreeing to pay them, FinanceFacility said it would cost £10.

“I’m so passionate about these companies I could rant and rant,” she told me. My heart goes out to vulnerable people who take this route and are left worse off.”

Sarah needed £200 to pay a shortfall in her rent.

“I filled in two forms online to get a comparison and, wham, the next day I received so many text messages it froze my phone,” she told me. In total, six companies took more than £300 from her and, with no loan to pay the rent, she doesn’t know if she’ll be able to keep her home.

I have approached these firms and most have failed to reply.

Loan Marketing said it could not discuss the matter “due to data protection” but insisted “we would only instigate payment from a client when we are in receipt of their expressed consent”.

Loan Spotter also cited data protection, even after I forwarded Jodi’s permission for this to be discussed with me.

The Right Loan 4 U offered a refund and referred to its terms and conditions, which, to be fair, do show its charges. It would be fairer still if it displayed them on its home page with the warning “We are not a lender”.

Loan Wizard says it has issued refunds, but insists customers enter their card details and are aware of their fee.

Apart from raising false hopes of cash, clogging up online searches for direct lenders, spewing out spam and hitting “clients” with charges for a service of dubious value, what exactly is the point of this industry?

Scam-busting journalist Andrew Penman exposes crooks, conmen, fraudsters. Let him know if you’ve been ripped off. investigate@mirror.co.uk read more here:

Andrew Penman Investigations

[…]

Banks stockpile cash for lending

Posted: Saturday, March 29, 2014, 1:08 AM

For all the warnings from the Federal Reserve over excessive risk-taking as loan growth soars to levels last seen just before the crisis, bankers still have 10 trillion reasons to lend.

That’s the dollar amount that banks hold in deposits in the U.S., which exceeded the value of all loans by a record $2.5 trillion last month. Banks are amassing more cash even as lending to U.S. companies this quarter is poised to increase by the most since 2007, according to data compiled by the Fed.

The lending surge reflects confidence among the nation’s banks to extend credit as the Fed scales back its monetary support of the U.S. economy, while the cash cushion may temper the concerns of regulators who in recent months have warned that excesses may be emerging in riskier parts of the loan markets. Seven years ago, when banks were lending at a faster pace, the amount that was lent outstripped cash deposits.

“Banks are not exhibiting anywhere close to the kind of excess we saw leading up to the crisis despite the growth in loans,” John Lonski, the chief economist at Moody’s Capital Markets Research Group, said in a telephone interview from New York. “They have a lot of lending capacity and they believe business conditions will remain good enough that borrowers will be able to meet their obligations.”

Cash deposited at banks increased to the record level through the week ending March 12, compared with loan assets of $7.5 trillion, the Fed data showed. This is a reversal from October 2008 when loans exceeded deposits by $205 billion.

The $68 billion jump in commercial and industrial loans made by banks to U.S. companies brings corporate borrowings to $1.67 trillion.

Known in the industry as C&I loans, they are one of the major components of the “loans and leases” that banks report.

[…]

TitleMax Opens Location in Centralia, IL

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A car title loan with TitleMax is a great way for credit-challenged individuals to obtain the short-term cash they need.

Centralia, IL (PRWEB) November 05, 2013

TitleMax, one of the nation’s largest and fastest growing title lending companies, opened a location in Centralia, IL. The new location, along with TitleMax stores across the country, will offer individuals with little, no, or even bad credit the opportunity to get a cash loan based on collateral, not credit history.

The new store is located at 1000 W. Broadway, Centralia, IL 62801. Store hours are Monday – Friday from 9:00 a.m. to 7:00 p.m., and Saturday from 10:00 a.m. to 4:00 p.m. The store can be reached by calling (618) 533-3055.

“The TitleMax team is proud to serve the community of Centralia,” said Otto Bielss, Senior Vice President of Operations for TMX Finance. “A car title loan with TitleMax is a great way for credit-challenged individuals to obtain the short-term cash they need.”

About Car Title Loans

A car title loan is a fast way for credit-challenged individuals to obtain the short-term cash they need. To secure a car title loan with TitleMax in the state of Illinois, an individual must have a clear, or lien-free, car title, a government-issued ID and proof of income. With these items an individual can obtain a loan up to $4,000 while still maintaining the use of their vehicle. No insurance is required, there are no credit checks and most loans can be processed in as little as 30 minutes.

There are nearly 70 TitleMax stores in the state of Illinois. To find a TitleMax near you, click Title Loan Stores.

About TitleMax

TitleMax, a subsidiary of TMX Finance, provides financial products to people without access to traditional credit alternatives. TitleMax has been a trusted consumer lender for over 14 years, helping hundreds of thousands of people in getting cash when they need it. Since its inception in 1998, TitleMax has grown to over 1,200 stores, spanning 14 states and provides car title loans to over 2,500 people each day.

Please visit http://www.titlemax.com for more information on car title loans and how TitleMax can be of service.


[…]

Payday loan business robbed by 2 women

Topeka police were looking for two women in connection with the Saturday morning holdup of a south-side payday loan business.

Officers were called at 10:48 a.m. to the Check Into Cash payday loan business at 3711 S.W. Plaza Drive.

Police said two women entered the business and asked to use the restroom.

One of the women was reported to have a weapon resembling a crowbar or club, while the other said she had a gun but didn’t display it.

The women then robbed the employee and the business.

After taking cash, the women were reported to have fled the scene on foot, running north from the business into a nearby neighborhood.

Police units responded to the scene and ran a K-9 trail, but no arrests had been reported by Saturday afternoon.

The women were described as being of thin build and standing around 6-feet-tall. One was wearing gray sweatpants and a gray hoodie and sunglasses, while the other was wearing gray sweatpants and a white hoodie.

Anyone with information on the robbery may call police detectives at (785) 368-9400 or Crime Stoppers at (785) 234-0007.

[…]

Man with knife robs Danville Cash Express

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DANVILLE, Ky. (WKYT) – Police in Danville are looking for a man they say walked into a Cash Express Saturday afternoon asking about a loan, and then demanded money.

The clerk on duty says the man inquired about a loan and then pulled out a pocket knife and demanded cash.

Officers say the suspect left the store on foot traveling north with an unknown amount of cash.

The clerk says she believes this is the same person who robbed the store back in 2009.

Danville Police say they do not believe this robbery is connected with the Danville triple murder from last week.

Police are asking anyone with any information reguarding this case or the suspect to please contact them as soon as possible.

[…]

China’s central banker says cash crunch a reminder for banks – paper

SHANGHAI (Reuters) – The recent cash squeeze in China’s interbank market was caused by rapid loan expansion at some banks and is a timely reminder that they need to adjust their businesses, China’s central bank governor Zhou Xiaochuan said in an interview with China Business News.

The market volatility was the result of rapid loan growth in the first week of June, with excessive expansion in commercial paper business at some banks, reflecting lenders’ strong impulse to expand credit toward the end of June, Zhou was quoted by the newspaper as saying.

The central bank refused to inject liquidity into the market despite a surge in interbank rates because it wanted the banks to adjust their practices, and the message has been correctly understood by the market, Zhou said.

Zhou said banks had already scaled back their balance sheets since mid-June, and that as the lender of last resort, the central bank would definitely help institutions with acute liquidity shortages to maintain financial stability, the newspaper said.

Zhou added that the central bank would guide financial institutions to maintain reasonable credit levels to support the growth of the real economy, the paper said.

Zhou reiterated that China’s current economic situation was smooth and inflation stable, and that a prudent monetary policy was appropriate.

China’s chief banking regulator said on Saturday that liquidity in the banking system was sufficient and pledged to control risks from local government debt, real estate and shadow banking.

(Reporting by Melanie Lee and Samuel Shen; Editing by Jacqueline Wong)

[…]

Supporters try to save bills regulating pay day loans – Gadsden Times

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The Rev. Hugh Morals speaks out against a pay day loan bill during a rally attended by several dozen demonstrators at the Alabama Statehouse in Montgomery, Ala., Tuesday, April 2, 2013. The pay day loan is expected to come up before the Senate sometime soon. (AP Photo/Dave Martin)

AP

Published: Saturday, April 13, 2013 at 9:36 p.m.
Last Modified: Saturday, April 13, 2013 at 9:38 p.m.

MONTGOMERY — Two bills to further regulate the payday loan and title pawn industries and lower interest rates for those transactions were referred to an Alabama Legislature subcommittee last week, a process that sometimes means death for legislation.

But supporters of the measures said they remain hopeful that something will be done in the current session to make the loan transactions more consumer-friendly.

The House Financial Services Committee voted after a public hearing Wednesday to send the bills to a subcommittee. Committee chairman Republican Rep. Lesley Vance of Phenix City said the purpose was to give the bills more study. He said the intention was not to kill the bills, but some legislators said sending bills to subcommittee is a tactic often used to kill legislation.

Supporters want to lower interest rates on the loans, which sometimes are as high as 300 percent for title pawn loans and 400 percent for payday loans. That’s compared to 36 percent or lower for a similar bank loan.

A payday loan is when money is borrowed with the promise to pay it back with money from the next paycheck. Title pawn loans are usually made using automobile titles, jewelry or other goods as collateral.

Sara Zampierin, an attorney for the Southern Poverty Law Center, which supports the bills, said she’s not optimistic about the fate of the legislation.

“Generally when bills are sent to subcommittee they are sent to die,” she said. “The committee has not appeared willing to enact changes consumer advocates believe are needed to protect consumers.”

The proposed bills would lower interest rates to 36 percent, limit the number of loans a person could take out and create a database to track loans.

The Legislature has been considering bills to further regulate the loans for years, but has been unable to come up with an ultimate solution.

Charles Hunter, a spokesman for the tile pawn and payday loan industries, said those businesses supported a different bill to keep interest rates where they are.

Hunter said if the payday loan businesses were forced to close it would cost thousands in Alabama their jobs. He said the people who borrow money from business need cash right away.

“They don’t need it tomorrow, they need it today,” Hunter said.

Shay Farley of Alabama Appleseed, which supports the bills to lower the interest rates, said she knows the current session is more than two-thirds complete, but she said supporters are continuing to ask legislators to help them get the bills out of the Financial Services committee.

“It’s obvious the committee wanted the bills to die, but hopefully other legislators have an interest,” Farley said.

Democratic Rep. Rod Scott of Birmingham, who sponsored one of the bills, said the vote to send the bills to subcommittee was not a good sign, but he’s not willing to give up.

“I will continue making myself available to anyone who wants to discuss the issue,” Scott said.

The sponsor of the other bill, Democratic Rep. Patricia Todd of Birmingham, said committee members want the bills to be dead, but said she would continue to work to get them out of the committee.

“I’ve got to keep hope alive,” she said.

[…]

TitleMax Extends Store Hours for Residents in Nevada

Title loan company extends store hours to better accommodate customers in Nevada.

Las Vegas, NV (PRWEB) March 14, 2013

TitleMax

, one of the nation’s largest and most reputable title loan companies, is excited to announce that the locations throughout Nevada now offer extended store hours. Currently, there are 24 stores in the state of Nevada with the majority being in the

Greater Las Vegas Area

. The new business hours are Monday – Friday from 9:00 a.m. to 7:00 p.m. and Saturday 10:00 a.m. to 4:00 p.m.

TitleMax offers individuals with little, no, or even bad credit the opportunity to get a cash loan up to $5,000 based on collateral, not credit history.

“Extending our store hours will allow us to better serve the residents of Nevada,” said Otto Bielss, Senior Vice President of Operations for TMX Finance. “If you’re in need of a car title loan stop by any of our stores and meet with one of our friendly customer service representatives today. You can now come in anytime between 9am – 7pm Mon-Fri and 10am-4pm on Sat to pick up that extra cash you need.”

About Car Title Loans

A car title loan is a fast way for credit-challenged individuals to secure the short-term cash they need. To get a TitleMax car title loan in the state of Nevada an individual must have a clear, or lien-free, car title, a government-issued ID and proof of income. With these items an individual can obtain a loan up to $5,000 while still maintaining the use of their vehicle. No insurance is required, there are no credit checks and most loans can be completed in as little as 30 minutes.

There are more than 20 convenient locations in the greater Las Vegas area. For more information, or to find a location near you, visit http://www.titlemax.biz/store-locator.

About TitleMax

TitleMax, a subsidiary of TMX Finance, provides financial products to people without access to traditional credit alternatives. TitleMax has been a trusted consumer lender for over 14 years, helping hundreds of thousands of people in getting cash when they need it. Since its inception in 1998, TitleMax has grown to over 1,000 stores, spanning 12 states and provides car title loans to over 2,000 people each day.

Please visit http://www.titlemax.biz for more information on car title loans and how TitleMax can be of service.

Cate Nelson
Titlemax Inc 1
912-629-1543
Email Information

[…]