Stanbic IBTC Bank (IBTC.ng) 2008 Annual Report

first_imgStanbic IBTC Bank (IBTC.ng) listed on the Nigerian Stock Exchange under the Banking sector has released it’s 2008 annual report.For more information about Stanbic IBTC Bank (IBTC.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Stanbic IBTC Bank (IBTC.ng) company page on AfricanFinancials.Document: Stanbic IBTC Bank (IBTC.ng)  2008 annual report.Company ProfileStanbic IBTC Plc is a financial services company in Nigeria offering banking products and services for the retail, corporate, investment and wealth management sectors. The Personal and Corporate Banking division provides a full-service offering ranging from transactional accounts to residential accommodation loans, vehicle and equipment finance and instalment finance. The Corporate and Investment Banking division offers products and services for foreign exchange, fixed income and equity trading as well as transactional banking, corporate and property lending and custodial and trade finance services. The Wealth Management division provides services for investment management, pension management, portfolio management, unit trust/fund management and trusteeship services. Stanbic IBTC Holdings Plc undertakes venture capital projects and private equity investments; acts as an executor and trustee of wills and trusts; and provides agency, insurance brokerage and stockbroking services. Founded in 1989, Stanbic IBTC Holdings Plc is a subsidiary of Stanbic Africa Holdings Limited. Its company head office is in Lagos, Nigeria. Stanbic IBTC Plc is listed on the Nigerian Stock Exchangelast_img read more

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Greystone Partners (GREY.sz) 2016 Abridged Report

first_imgGreystone Partners (GREY.sz) listed on the Swaziland Stock Exchange under the Investment sector has released it’s 2016 abridged results.For more information about Greystone Partners (GREY.sz) reports, abridged reports, interim earnings results and earnings presentations, visit the Greystone Partners (GREY.sz) company page on AfricanFinancials.Document: Greystone Partners (GREY.sz)  2016 abridged results.Company ProfileGreystone Partners Greystone Partners is an investment holding company with interests in private equity investments with a portfolio mostly made up of privately-owned businesses operating in different market sectors. Greystone Partners raised E85 million through various local pension funds and institutions with a mandate to invest in mostly privately-held companies in the Common Monetary Area. It appointed African Alliance Swaziland Limited, a subsidiary of the African Alliance Group of Companies, to manage its investment portfolio. The latter has extensive experience in fund raising, structuring, executing and managing private equity transactions. Greystone Partners is listed on the Swaziland Stock Exchangelast_img read more

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Canada: Praying on Parliament Hill

first_imgCanada: Praying on Parliament Hill By Leigh Anne WilliamsPosted Jul 8, 2013 Family Ministry Coordinator Baton Rouge, LA Rector Collierville, TN Episcopal Church releases new prayer book translations into Spanish and French, solicits feedback Episcopal Church Office of Public Affairs The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Tags Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Canada Joint Assembly, Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Rector Belleville, IL The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Assistant/Associate Rector Morristown, NJ Rector and Chaplain Eugene, OR Rector (FT or PT) Indian River, MI Associate Rector for Family Ministries Anchorage, AK Bishop Diocesan Springfield, IL TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Assistant/Associate Rector Washington, DC Curate Diocese of Nebraska Virtual Episcopal Latino Ministry Competency Course Online Course Aug. 9-13 Rector Smithfield, NC Rector Bath, NC An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Ecumenical & Interreligious Rector Hopkinsville, KY Course Director Jerusalem, Israel Priest-in-Charge Lebanon, OH In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Cathedral Dean Boise, ID center_img Curate (Associate & Priest-in-Charge) Traverse City, MI Youth Minister Lorton, VA Rector Martinsville, VA Director of Administration & Finance Atlanta, GA Associate Priest for Pastoral Care New York, NY Priest Associate or Director of Adult Ministries Greenville, SC Featured Events Director of Music Morristown, NJ Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Anglican Communion, Rector Knoxville, TN Rector/Priest in Charge (PT) Lisbon, ME This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Assistant/Associate Priest Scottsdale, AZ Submit an Event Listing Rector Pittsburgh, PA An Evening with Aliya Cycon Playing the Oud Lancaster, PA (and streaming online) July 3 @ 7 p.m. ET Canon for Family Ministry Jackson, MS Rector Shreveport, LA Missioner for Disaster Resilience Sacramento, CA Rector Washington, DC Rector Albany, NY Submit a Press Release Rector Tampa, FL Press Release Service Submit a Job Listing New Berrigan Book With Episcopal Roots Cascade Books Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Associate Rector Columbus, GA Members of the Anglican-Lutheran Joint Assembly held a prayer service focused on the issue of access to clean water for all. Here the crowd carries a large ribbon of cloth representing water. Photo: Art Babych[Anglican Journal] Hundreds of Anglicans and Lutherans in Ottawa for Joint Assembly converged on Parliament Hill on Saturday morning for a prayer event intended to draw attention to the issue of access to clean water, particularly in aboriginal communities.Led by Lutheran and Anglican youth, the event gathered people into circles of 12 on the walk in front of the Peace Tower on Parliament Hill.  Volunteers held long ribbons of turquoise cloth that sparkled in the sun and cascaded down the steps like a waterfall. The ribbons were later carried through the crowd after the service .The prayer service was led by Archbishop Fred Hiltz, primate of the Anglican Church of Canada, Susan Johnson, national bishop of the Evangelical Lutheran Church in Canada, and Lydia Mamakwa, area bishop for northern Ontario. There were prayers for the rivers, for people who make their living from the water and for people who cross oceans. There were also prayers for the responsible use of water in urban and rural settings.Heather Werboweski, 17, from First Lutheran in Winnipeg, told the Journal that she thinks the event will have an impact. “Now more people are aware that it’s an issue and so I hope they will more consciously think about the water that they use and think about the people who don’t have the resources that we do.”Deb Roberts, a member from Christ Lutheran Church in Regina who attended with her 14-month-old daughter Rowan, said the event was a great idea. “It shows solidarity working together for the Lutherans and the Anglicans and for everybody with the native people…We all are treaty people…water is an issue for all of us, so we should all have the same rights and the same access to water.Bishop Adam Halkett of the diocese of Saskatchewan said, “The water is being damaged, so it’s going to affect our grandchildren. It’s affecting us already today, so we need to let the government know that we are the people of this land. We didn’t sell anything…We shared a lot of this land and water is also a part of that.”Bishop Susan Johnson said the event was “a wonderful opportunity to be on the Hill and to make this really significant gesture and statement right at the foot of our nation’s capital.” Featured Jobs & Calls Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem last_img read more

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Patio House / Marchetti Bonetti+

first_imgSave this picture!© Ronaldo Azambuja+ 26Curated by Matheus Pereira Share Architects: Marchetti Bonetti+ Area Area of this architecture project Houses Engineering:JF Engenharia Air:Prointech Water Proof:PHI Landscape:JA8Builder: MVF Construções e EngenhariaDesign Team:Adriano Kremer, Cristhine DigiácomoCity:CacupéCountry:BrazilMore SpecsLess SpecsSave this picture!© Ronaldo AzambujaRecommended ProductsDoorsStudcoAccess Panels – AccessDorEnclosures / Double Skin FacadesRodecaRound Facade at Omnisport Arena ApeldoornDoorsC.R. LaurenceCRL-U.S. Aluminum Entice Series Entrance SystemDoorsSaliceSliding Door System – Slider S20Text description provided by the architects. The Casa Pátio project, a residence located at a private condo in Cacupé, in the city of Florianópolis, had as its premise to turn the building inwards, preserving the privacy of its residents. To achieve this, courtyards were created, delimitated by moving wood panels that mitigate the relation with neighbor’s properties. At the same time, the project intends to enhance the visuals of the sea that surrounds Santa Catarina’s island.Save this picture!© Ronaldo AzambujaSave this picture!Ground floor planSave this picture!© Ronaldo AzambujaInspired by Brazilian modern architecture, yet with a contemporary approach, the Casa Pátio project employs materials that fit perfectly into this context, such as concrete, glass and wood, always trying to connect to the incredible green of the outdoor area. A big concrete overhang delimitates the project perimeter, which, by involving the entire residence, reinforces the patios and the relation between internal and external areasSave this picture!© Ronaldo AzambujaSave this picture!Section CCSave this picture!© Ronaldo AzambujaWith a simple and concise layout, the social area program consists of a generous living connected to the kitchen and to the building’s internal courtyards. The private area of the residence, on the other hand, consists of three large suites located on the ground floor and an extension on the upper floor, which serves as a reserved guest roomSave this picture!© Ronaldo AzambujaProject gallerySee allShow lessARKxSITE Announces Winners of Site Mausoleum CompetitionArticlesCharles Library at Temple University / SnøhettaSelected Projects Share Year:  ArchDaily Brazil Area:  660 m² Year Completion year of this architecture project Patio House / Marchetti Bonetti+ Projects Lead Architects: 2018 Giovani Bonetti, Taís Marchetti Bonetti ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/924934/patio-house-marchetti-bonetti-plus Clipboard ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/924934/patio-house-marchetti-bonetti-plus Clipboard Photographs:  Ronaldo Azambuja Manufacturers Brands with products used in this architecture project Manufacturers: AutoDesk, Globo Portas, Hunter Douglas, InterLight, JA8, Lohn Esquadrias, Oliglass, Pedecril, Portobello, Telafort, Trimble CopyAbout this officeMarchetti Bonetti+OfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesBrazilPublished on September 20, 2019Cite: “Patio House / Marchetti Bonetti+” [Casa Pátio / Marchetti Bonetti+] 20 Sep 2019. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodSiding Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialMetal PanelsDri-DesignMetal Panels – CopperIn architectureSikaBuilding Envelope SystemsExterior DeckingLunawoodThermowood DeckingMembranesEffisusFaçade Protection – Breather+Metal PanelsPure + FreeFormCustom Metal Cladding – Legacy Fund 1 BuildingWood Boards / HPL PanelsInvestwoodWood Fiber Partition Walls – ValchromatDoorsLinvisibileLinvisibile FILO 10 Vertical Pivot Door | BrezzaSkylightsFAKROEnergy-efficient roof window FTT ThermoToilets / BidetsBritexToilets – Accessible Centurion PanMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Photographs CopyHouses•Cacupé, Brazil “COPY” “COPY” Patio House / Marchetti Bonetti+Save this projectSavePatio House / Marchetti Bonetti+last_img read more

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Car magazine reporter charged in connection with Renault industrial spying complaint

first_img Receive email alerts July 17, 2008 – Updated on January 20, 2016 Car magazine reporter charged in connection with Renault industrial spying complaint Follow the news on France Organisation “We’ll hold Ilham Aliyev personally responsible if anything happens to this blogger in France” RSF says —————————————————-16 July 2008Right to protect sources seriously violated by raid on auto magazine and reporter’s arrest News May 10, 2021 Find out more Use the Digital Services Act to make democracy prevail over platform interests, RSF tells EU FranceEurope – Central Asia After being held for 48 hours, Bruno Thomas, a reporter with the Paris-based car magazine Auto Plus, was charged today in connection with an industrial spying complaint brought by the French car-maker Renault last year when the magazine published photos of future Renault models. RSF denounces Total’s retaliation against Le Monde for Myanmar story Help by sharing this information June 4, 2021 Find out more News FranceEurope – Central Asia News RSF_en to go further After being held for 48 hours, Bruno Thomas, a reporter with the Paris-based car magazine Auto Plus, was charged today in connection with an industrial spying complaint brought by the French car-maker Renault last year when the magazine published photos of future Renault models.“Holding Thomas for 48 hours was outrageous, and charging him on five counts is just a ploy by the police and judicial authorities to get him to reveal his sources,” Reporters Without Borders said. “Once again, a basic principle of journalism is being flouted.”Thomas was taken into custody on 15 July after watching plain-clothes police from Versailles search his office at Auto Plus headquarters in the 15th district of Paris. Reporters Without Borders repeatedly contacted the Versailles criminal investigation department on 15 and 16 July but the police refused to say where he was being held.Thomas was taken this morning to the Versailles prosecutor’s office where he was charged with “complicity in breach of trust,” “unauthorised publication or reproduction in writing, drawing or any other form in violation of the laws and regulations relating to the property of the author, and complicity therein,” “unauthorised publication of an intellectual product in violation of authorship rights, and complicity therein,” “acquiescing in inducements to corrupt and complicity therein” and “revealing a manufacturing secret, and complicity therein.”Auto Plus editor Laurent Chiapello said: “These charges seem rather unreal for journalists. It is not going to be easy to establish what journalism has become today in France.”Thomas was placed under judicial control when he was released today at 11 a.m., but Chiapello said the restrictions imposed on him were not too onerous. “He has the right to do everything except talk to the people at Renault or to their suppliers,” Chiapello said.Renault’s director of legal affairs issued a statement yesterday pointing out that the complaint filed by the company was against unidentified persons and “not against any named person or against the magazine.” Without commenting on Thomas’ arrest, the statement added: “We leave it to the judicial authorities to decide how they conduct the investigation.” Reporters Without Borders condemns yesterday’s lengthy police search of the Paris-based automobile magazine Auto Plus and the arrest of one of its reporters, Bruno Thomas, as a result of a complaint last year by the French car-maker Renault about its publication of photos of future Renault models.“The principle of the confidentiality of journalists’ sources, one of press freedom’s cornerstones, is again being violated in France by policemen and judges serving the interests of an industrial group that denies the public’s right to be informed,” Reporters Without Borders said. “We call for Thomas’ immediate release and the return of everything that was taken from Auto Plus.”After arresting Thomas at his home at around 6:30 am, some 10 members of the Versailles criminal investigation department searched the premises of Auto Plus in the 15th district of Paris from 9 am to 5:30 pm. Auto Plus editor Laurent Chiapello told Reporters Without Borders: “The police searched Thomas’ office and the office of one of his colleagues. They confiscated photos, email correspondence and the hard disks from the computers of both journalists.”This morning, the authorities ordered that Thomas be detained for another 24 hours. It is believed he is being held at the headquarters of the criminal investigation department of the Versailles police. Renault filed its complaint in July 2007 with the aim of discovering the source of the leak within the company.“This raid is an insult to the parliamentarians who recently approved a draft law on the protection of the confidentiality of journalists’ sources that had been presented by justice minister Rachida Dati,” Reporters Without Borders added. June 2, 2021 Find out more Newslast_img read more

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ICC clears way for war crimes probe of Israeli actions

first_img ICC clears way for war crimes probe of Israeli actions Pinterest Twitter Previous articleBiden wants fast COVID aid, but minimum wage hike in doubtNext articleAP analysis: Federal executions likely a COVID superspreader Digital AIM Web Support Pinterest Local NewsWorld News WhatsApp TAGS  By Digital AIM Web Support – February 5, 2021 Facebook Facebook WhatsApp Twitterlast_img read more

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Where Home Prices Are Headed

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Sign up for DS News Daily Subscribe Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Czwartacki Makes Move from OMB to BCFP Next: Fannie Checks in With Homeowners May 7, 2018 14,175 Views Tagged with: Consumer Confidence Gallup Home Prices Survey The Best Markets For Residential Property Investors 2 days ago Consumer Confidence Gallup Home Prices Survey 2018-05-07 David Whartoncenter_img About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Home prices continued to rise in April, with no signs of slowing down anytime soon. No real surprise, then, that a new Gallup survey finds most Americans anticipating that price climb to continue on its upward trajectory. But is that ongoing increase deterring those surveyed from shopping for a new home if they’re ready to do so?For a majority of respondents, that answer is no.Gallup’s annual Economy and Personal Finance poll, conducted April 2-11, found that most Americans surveyed were aware of this trend and expected it to continue. When asked, “Over the next year, do you think that the average price of houses in your area will increase, stay the same, or decrease,” 64 percent responded that they anticipated local home prices would continue increasing. That percentage is up nine percentage points over the past two years and now marks the highest percentage Gallup has measured since 2005.Twenty-six percent of those surveyed said they expected home prices to stay the same, and only 10 percent expected prices to go down.Sixty-five percent of those surveyed also said they believed now was a good time to purchase a home. This is down from 74 percent in 2014 but still well above the lows near 50 percent that were recorded between 2006 – 2008. Since Gallup began asking that question in 1978, the percentage of respondents saying it was a good time to purchase a house has never dropped below 50 percent. “To some degree, Americans may answer the question in terms of both housing market conditions and their views about buying a house as a long-term investment,” Gallup notes. In the 2005 survey, 70 percent of Americans said they expected home prices to rise over the following year. By April 2007, that percentage had dropped all the way to 52 percent. By 2008, expectations had flipped considerably, with Gallup reporting that 38 percent of those surveyed expected prices to decrease, as compared to 29 percent who expected an increase. By 2013, a majority (51 percent) once again tipped toward believing prices would increase, and that number has been on the rise ever since.The sentiment that prices will increase is strongest in the West at 79 percent—up 15 percentage points over the 2016 survey. The South recorded the next highest response, with 64 percent anticipating price increases (although this represented only a 3 percentage point increase over Southern sentiment from the 2016 survey). Next was the East (58 percent, up 10 percentage points over 2016) and the Midwest (56 percent, up 11 percentage points).“High demand and limited supply of homes are putting upward pressure on home prices, leading many real estate experts to urge prospective buyers to get into the market now, before rising prices and interest rates make homes too expensive to afford,” Gallup’s survey states. “Americans appear to be aware of housing market conditions, with their opinions of whether home prices will rise trending in the same direction as U.S. home prices. But they also may be aware that it is becoming more of a seller’s market than a buyer’s market. While they remain optimistic that it is a good time to purchase a home, they are less optimistic than they were four years ago, when houses were more affordable and interest rates were lower.” Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Where Home Prices Are Headed Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Where Home Prices Are Headedlast_img read more

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Callaghan says questions remain after cancer misdiagnosis

first_img Twitter Facebook Previous articleKirkstown Road partly closed following bridge collapseNext articleBody of Dublin fire victim being brought home to Ballybofey News Highland WhatsApp A Foyle MLA says it’s vital that questions about capacity at the Radiology Department at Altnagelvin Hospital are addressed in the wake of confirmation that four patients with cancer were initially misdiagnosed when x-rays were not properly checked.One of them, an 80-year-old man with lung cancer, subsequently died.It emerged last week that it took 10 months to clear a backlog of around 18,500 x-rays at Altnagelvin hospital last year, with representitives of the Western Health Trust and the Department of Health due to appear before the Assembley Health Committee shortly.Foyle MLA Pól Callaghan says one problem here is that the trust is very slow to release information, citing patient confidentiality. He says there must be more communication………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/02/polc1pm.mp3[/podcast] Google+ 365 additional cases of Covid-19 in Republic By News Highland – February 1, 2011 Gardai continue to investigate Kilmacrennan fire Man arrested on suspicion of drugs and criminal property offences in Derry Main Evening News, Sport and Obituaries Tuesday May 25th WhatsAppcenter_img Google+ Pinterest News Pinterest Callaghan says questions remain after cancer misdiagnosis RELATED ARTICLESMORE FROM AUTHOR Further drop in people receiving PUP in Donegal Twitter 75 positive cases of Covid confirmed in North Facebooklast_img read more

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Consumers fearful of falling victim to online fraud

first_img Pinterest 62 percent of consumers are fearful of being victims of online fraud.A new study released by Bank of Ireland shows the majority of people plan to do a lot more shopping online this Christmas, while 43 percent feel more exposed to potential fraud since the beginning of the Covid-19 pandemic.The research on 1,000 people says just over half of people have got a text, call or email claiming to be from their bank. Google+ Consumers fearful of falling victim to online fraud RELATED ARTICLESMORE FROM AUTHOR Pinterest Important message for people attending LUH’s INR clinic Homepage BannerNews Harps come back to win in Waterford Facebook Twitter Google+center_img Journey home will be easier – Paul Hegarty WhatsApp News, Sport and Obituaries on Monday May 24th By News Highland – November 11, 2020 Twitter DL Debate – 24/05/21 Previous articleBump in road for Manorcunningham rampsNext articleTravel as we knew it could be some time off News Highland Facebook WhatsApp Arranmore progress and potential flagged as population growslast_img read more

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Payday Lenders Have Drained An Estimated $322 Million In Finance Charges From Hoosiers Over…

first_imgBy Brynna SentelTheStatehouseFile.comINDIANAPOLIS— Payday lenders have drained an estimated $322 million in finance charges from Hoosiers over the last five years, according to a new report from groups advocating for the state to rein in those businesses.The report, released Tuesday by the Indiana Institute for Working Families and the Indiana Assets & Opportunity Network, showed that a 2002 exemption for short-term loans allowed payday lenders to charge annual percentage rates as high as 391 percent.“This confirms my opinion of this industry,” said State Sen. Greg Walker, a Columbus Republican who has led the fight in the legislature against the payday loan industry. “The cost is too high for all of us. When people suffer needlessly, this product doesn’t need to exist in the state of Indiana.”Sen. Greg Walker, R-Columbus, wants the state to rein in interest rates and fees on payday loans. Photo by Eddie Castillo, TheStatehouseFile.comAccording to the report, which can be read in full at http://www.incap.org/payday.html, there are 29 entities licensed to offer payday loans in Indiana, with 11 headquartered out-of-state and operating 86 percent of the payday loan offices in Indiana. In fact, the report states, five of those out-of-state firms operate 79 percent of the 262 payday loan storefronts in Indiana.Those include “Advance America, Cash Advance Centers of Indiana Inc.” of Spartanburg, S.C. which has 76 loan offices here and “Check into Cash of Indiana LLC.” which has 59 offices here.The largest Indiana-headquartered operator, G & R Advance Inc. of Indianapolis, owns only 5, or 2 percent, of the storefronts.Of the 92 counties in Indiana, 64 have at least one payday loan storefront, with about a third of the loan offices located in Marion, Lake, and Allen counties. The report also showed that these payday lenders are disproportionately located in low-income communities – those that fall below 200 percent of the federal poverty level — as well as communities with larger minority populations.It cited data from Clarity Services Inc., a credit reporting agency, showing that the median income of borrowers who use payday loans nationwide is only $19,752. And, the report said, 60% of payday loans in Indiana are reborrowed on the same day that the previous loan was paid off and 82% are reborrowed within 30 days.“By lending to borrowers who cannot afford to repay the loan and still meet their other expenses, lenders can reap the benefits of loan churn,” the report states. “Meanwhile, borrowers are more likely to experience overdraft fees, bank account closures, difficulty paying bills, decreased job performance and bankruptcy.”Walker said that proponents of pay-day loans have argued that the payday loans help more than a million Hoosiers annually cover a financial emergency.“But that’s not the truth of the industry,” he said. “It’s really only about 120,000 borrowers, which is less than 2 percent of the population of Indiana.”And, he said, that help comes at a steep price, both financially and on families’ well-being.“The number-one pressure on the break-up of families is financial pressure and so this has a cost that far exceeds the business opportunity,” Walker said. “The cost is emotional. It’s stress-related. That financial burden has a lot more of a negative impact than just the loss of the money and I think that’s a difficult message to understand when it’s such a small percent of the total population.”But, he added, “that’s what consumer protection, regulation is supposed to do: Prevent anyone from taking advantage of others… it’s going to take us thinking about the 2 percent who are caught up in this debt trap.”A bill allowing payday lenders to charge interest rates up to 167 percent was heavily debated in the 2019 legislative session, passing the Senate but later dying in the House of Representatives without a vote.“We see a divide in the legislature right now,” Walker said. “You’ve got those who have an appreciation for how targeted this marketplace is on the repeat borrower and then you have others who look at it and say if it weren’t for this industry then how would someone get their tire fixed in an emergency situation in order to get back to work the next day.”Rep. Woody Burton, R-Greenwood, says payday loans fill a need, with higher fees justified by the risk to the lender. Photo by Emily Ketterer, TheStatehouseFile.comState Rep. Woody Burton, the Greenwood Republican who is chairman of the House Financial Institutions Committee, weighed the issue in the last legislative session and expects it to resurface next session. He dismissed much of the concerns, noting that these are supposed to be short-term loans to tide someone over between paychecks.“I think what they are doing right now is ok if it’s just two weeks,” Burton said, referring to the minimum term of a payday loan. Under current law, borrowers can get a loan for 20 percent of their monthly gross income, up to $605 with finance charges that range from 15 percent of the first $250 to $10 percent for amounts over $400.“Its an extremely high risk and it’s a high return because I’m sure they get people who don’t pay them too, if they don’t get their paycheck or if they cash it,” Burton said.The report estimated that if payday lenders had to adhere to the 36 percent interest-rate cap for regular loans, borrowers could have saved more than $291 million over the past five years.Allowing an annual percentage rate as high as 391 percent “crosses a line,” “Walker said.When asked what the interest rate should be capped at, Walker said: “I don’t have an effective annual percentage rate to tell you what that is. Thirty-six percent is high but somewhere between 36 percent and 360 percent I think that line is crossed.”FOOTNOTE: Brynna Sentel is a reporter at TheStatehouseFile.com, a news website powered by Franklin College journalists.This article was posted bt the City-County Observer without bias, editing or opinion. FacebookTwitterCopy LinkEmailSharelast_img read more

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