Illinois lending – Baymont Champaign http://baymontchampaign.com/ Mon, 03 May 2021 07:46:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://baymontchampaign.com/wp-content/uploads/2021/04/cropped-icon-32x32.png Illinois lending – Baymont Champaign http://baymontchampaign.com/ 32 32 Brothels reopen in Nevada; India sets infection record https://baymontchampaign.com/brothels-reopen-in-nevada-india-sets-infection-record/ https://baymontchampaign.com/brothels-reopen-in-nevada-india-sets-infection-record/#respond Sun, 02 May 2021 22:18:45 +0000 https://baymontchampaign.com/brothels-reopen-in-nevada-india-sets-infection-record/ Nevada brothels have reopened to business and casino capacity on the Las Vegas Strip increased to 80% as Nevada continued to ease coronavirus restrictions over the weekend. Governor Steve Sisolak has said he expects all businesses to be reopened to 100% capacity by June 1. Legal sex workers back to work for the first time […]]]>




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Illinois Offers Student Loan Discount In Exchange For Home Purchase https://baymontchampaign.com/illinois-offers-student-loan-discount-in-exchange-for-home-purchase/ https://baymontchampaign.com/illinois-offers-student-loan-discount-in-exchange-for-home-purchase/#respond Thu, 29 Apr 2021 23:20:00 +0000 https://baymontchampaign.com/illinois-offers-student-loan-discount-in-exchange-for-home-purchase/ ILLINOIS (WIFR) – Andrew Earlywine is still moving into his Machesney Park home and says buying a property is something he and his fiance have always had in mind. “We talked about this before we moved into the rental that we wanted to buy a house and we said why not work for a year […]]]>


ILLINOIS (WIFR) – Andrew Earlywine is still moving into his Machesney Park home and says buying a property is something he and his fiance have always had in mind.

“We talked about this before we moved into the rental that we wanted to buy a house and we said why not work for a year and save money since we both graduated about a year ago. and a half, ”said Earlywine.

Earlywine says his student debt wasn’t going to stop him from owning a home, but it made it more difficult.

“We were always motivated to buy a house, but it finally made us say: let’s go buy a house now,” said Earlywine.

It was then that he learned of a program called SmartBuy that offers first-time buyers and qualified non-first-time buyers up to $ 40,000 in student loan cancellation in exchange for the loan. buying a home in Illinois.

“I know that for young people the decision to save money for a house later or pay off their student loan debt is a tough one, and how to balance the amount you invest in each one and that really helps them to be able to do both, ”said Frank Valentine, vice president of residential loans at Midwest Community Bank.

Earlywine says he jumped at the chance in disbelief that the program would allow him to own a home and get rid of his student debt.

“Rents are already expensive and why not own a property that you know you can make money on in the future, so it was a no-brainer for me,” said Earlywine.

After being very successful with the program, Earlywine says he wants to spread the word and help others in a similar place.

“Everyone’s kind of like ‘really’ and they don’t believe me and they make me repeat it and then they’re like okay, can you send me the link,” Earlywine said.

Copyright 2021 WIFR. All rights reserved.



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Congress attacks payday lenders after SCOTUS frees them – people’s world https://baymontchampaign.com/congress-attacks-payday-lenders-after-scotus-frees-them-peoples-world/ https://baymontchampaign.com/congress-attacks-payday-lenders-after-scotus-frees-them-peoples-world/#respond Thu, 29 Apr 2021 16:03:38 +0000 https://baymontchampaign.com/congress-attacks-payday-lenders-after-scotus-frees-them-peoples-world/ Rep. Jan Schakowsky, veteran Illinois Democrat, is leading the charge in Congress to correct the damage caused by a Supreme Court ruling that allows payday lenders to offload scam customers. | AP Pictures WASHINGTON – Well, it didn’t take long. A week after the U.S. Supreme Court unanimously handed down one of the most sordid […]]]>


Rep. Jan Schakowsky, veteran Illinois Democrat, is leading the charge in Congress to correct the damage caused by a Supreme Court ruling that allows payday lenders to offload scam customers. | AP Pictures

WASHINGTON – Well, it didn’t take long.

A week after the U.S. Supreme Court unanimously handed down one of the most sordid sectors of the corporate class, payday lenders, a big court victory, lawmakers took up the suggestion of the author of the decision, Judge Stephen Breyer, that they could reverse the victory.

So consumer advocates came together to tell the House consumer protection subcommittee on April 27 to do so.

They testified how payday lenders cheat consumers with triple-digit interest rates and interest stacked on interest. And they urged lawmakers to restore the power of the Federal Trade Commission to impose heavy fines on these scammers and con artists.

And witnesses supported HR2668, by the committee chair, Rep. Jan Schakowsky, D-Ill., And Rep. Tony Cardenas, D-Calif., To explicitly give the FTC that authority to financially crush the crooks.

Payday lenders have been known to lend money to the poor and working class people, often people of color who live paycheck to paycheck, by advancing money billed on those checks. Annual interest rates exceed three digits or more. AMG – the payday lender that sued the FTC – charged 30% monthly interest in the example Breyer cited.

HR2668 and the audience applauded the National Consumers League, which has campaigned against the scourge of payday lenders for decades. The April 22 court ruling “put the interests of a convicted con artist above the needs of victims of fraud,” said John Brevault, vice president of public policy for the worker-backed consumer group.

“We are incredibly disheartened by the decision to deprive the FTC of one of its most effective tools for recovering ill-gotten gains from criminals. This move will encourage the criminals who defraud millions of consumers every year, costing them billions of dollars and untold emotional damage.

“We hear almost every day from victims of scams whose financial lives have been ruined by crooks. Consumers need and deserve a consumer protection agency empowered to ensure their integrity. Congress should urgently pass legislation restoring the FTC’s power to seek compensation on behalf of victims of fraud. “

The judges had overturned a $ 1.3 billion FTC fine against payday lender Scott Tucker and his company, AMG Capital Management. The fine was the amount AMG wiped out of consumers from 2008 to 2012. In addition to charging 30% monthly interest on a typical $ 300 loan, the now racketeering Tucker would continue to rack up fees, interest on interest and principal, month after month, just like the rest of the industry.

The only way for the consumer to avoid such a financial burden is to decipher the fine legalistic print of AMR’s loan agreement. According to this pact, the only way to opt out was not only to repay the entire loan after one month, but to refuse in writing to let AMR renew it.

Breyer wrote that the FTC went too far and misinterpreted Section 13 (b) of its 107-year-old law into justifying its high fines against AMR and other similar fraudsters. He said the section allowed the FTC to seek court injunctions against such practices, but that was it. He could use another section, and a lengthy process, to seek smaller, unspecified fines to deter possible financial abuse, not to recoup past damage, he added.

Not enough to stop them

Witnesses and lawmakers have said that is not enough to stop payday lenders.

“For decades, the Federal Trade Commission has protected consumers by seizing and returning stolen money to victims of fraud,” Schakowsky said. The court benefited “crooks and criminals around the world”. HR2668 “will restore the agency’s authority to provide relief to victims of fraud and scams” and “take money out of the pockets of American workers.”

Due to the latest ruling and previous rulings which also hamper the FTC, “The agency that’s supposed to protect me – along with my 86-year-old mother and teenage daughter, and my former students who are now in the military – no longer has the tools to do its job, ”testified University of California law professor Ted Mermin. It is also short-staffed, he added.

Without the power to impose hefty fines, “the FTC is unable to perform its most basic function of recovering money for the people from whom it was illegally uprooted,” added Mermin, who also heads the California Low- Income Consumer Coalition.

With the United States emerging from the coronavirus pandemic, the need for a robust FTC is increasing, he warned. As the economy recovers from a virus-enforced shutdown, “unfair and deceptive practices of all kinds will continue to besiege us. They will specifically target seniors, veterans, low-income communities, communities of color and family businesses.

The FTC’s “need for public enforcement capacity” is “acute” because 90% of low-income people cannot afford to hire private attorneys to prosecute fraudsters, and because medical clinics Legal aid is overloaded and understaffed, Mermin explained.

Although she did not testify before the panel, the Chamber of Commerce, as might be expected, sided with payday lenders and other corporate fraudsters.

“The FTC is advocating for legislative change on the pretext that it needs the right tools to fight ‘scams’,” the business lobby said. “However, instead of asking for a legislative solution that empowers the agency to target these heinous practices,” the FTC wants “a radical expansion of its authority” to let it “universally claim monetary damages.”

This inadvertent statement underscored the real impact of the court ruling: that it allows all businesses, not just payday lenders, to engage in such practices without the threat of the FTC. high fines deter them – a point the USPIRG made in its denunciation of the ruling.


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What is a HELOC? For owners, it turns equity into spending power | Sponsored content https://baymontchampaign.com/what-is-a-heloc-for-owners-it-turns-equity-into-spending-power-sponsored-content/ https://baymontchampaign.com/what-is-a-heloc-for-owners-it-turns-equity-into-spending-power-sponsored-content/#respond Thu, 29 Apr 2021 13:00:00 +0000 https://baymontchampaign.com/what-is-a-heloc-for-owners-it-turns-equity-into-spending-power-sponsored-content/ They used it to pay for tuition or medical bills, to cover a major purchase, or just to set up a financial safety net. And over the past year, when many hesitated to travel, many people in central Illinois and elsewhere have used the equity in their homes to turn their own residences into oases […]]]>


They used it to pay for tuition or medical bills, to cover a major purchase, or just to set up a financial safety net. And over the past year, when many hesitated to travel, many people in central Illinois and elsewhere have used the equity in their homes to turn their own residences into oases of serenity and pleasure.

“It’s amazing the number of homeowners who put up pools, spas, things where they can have fun at home instead of maybe going on a trip,” says Jim Nichols, retail manager at Prospect Bank. “This is where we see a lot of home equity used, a lot of home renovations. It’s amazing how many people are putting money back into their homes because they’ve spent so much time there over the past year.

Prospect Bank has seen it all since it was founded in Edgar County in 1873, striving then as now to help members of its community reap the benefits of homeownership. And one of those benefits is known as HELOC – short for home equity line of credit– which can offer immense purchasing potential for an incalculable number of uses, or simply put in place an accessible financial guarantee in case of emergency.

“It gives people considerable purchasing power. And I think it gives people the peace of mind knowing they have it if something happens, ”says Nichols, who has worked in banking for over 30 years. “Like a medical expense – people have unforeseen medical expenses from time to time, and we all know how expensive it can be. So for me this can be a product of peace of mind. “

Flexible uses, higher prices

A HELOC allows people to tap into the financial equity in their home and use that money for just about anything. If a client has $ 10,000 of equity in their home, for example, they can take out a HELOC for that amount. They can use everything at once, bit by bit, or stick to it – since customers only have to pay back what they use, a HELOC can be as flexible as the owner needs.

But that’s not the only advantage of a HELOC Prospect Bank. For the first seven years, customers can make minimum monthly payments covering interest only, although they are also asked to make payments in principle. And the interest rate is far higher than that on a credit card, which averages around 15%. Prospect Bank’s HELOCs offer variable rates based on a prime rate at an all-time high of 3.25%, which allows Prospect to offer starting rates as low as 3.75% to eligible clients.

And throughout the month of June, Prospect Bank hosts a special issue on HELOCs: a 3% rate fixed for three years, with waived closing costs – which means no fees for valuation, research for flooding, stock search and other part of the process. No wonder some borrowers combine a HELOC with their first mortgage and refinance the whole package to get a better rate.

“This allows us to determine what the borrower’s needs are and what they want to accomplish,” says Nichols. “And those needs can be just about anything. You can have someone with a kid going to college, and the parents have to find money to fund college expenses. We see that a lot of people use it for this; they draw from it periodically according to their needs for tuition, books or accommodation costs. We’ve seen people buy cars with it. People can use their equity for big purchases like this, big vacations, or home renovations. “

Direct answers, no surprises

As a community bank, Prospect Bank prides itself on knowing its customers and their needs. Borrowers are not just numbers on a piece of paper, but neighbors that Prospect employees might meet at the hardware store. The homes from which they derive equity are not vague residences, but in many cases street addresses that loan associates are familiar with.

For clients, all of this cultivates a sense of confidence that they are getting a financial product that is right for them – whether it’s a HELOC, mortgage, or any other type of loan.

“I always take great pride in my ability to communicate to our clients what to expect in the process and point them out to them what is most appropriate for them,” says Nichols. “And I really believe our lending associates, our loan officers, are doing the same. And I think that’s the most important thing we can offer our clients: clear answers, clear communication, no surprises during the process. “

Want to find out what a HELOC Prospect Bank can do for you? Visit one of its nine locations in central Illinois, including the main branch at 177 West Wood St. in Paris, call (877) 465-4154 or visit BankProspect.com for more information.



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Hanmi Financial increases quarterly cash dividend by 20% https://baymontchampaign.com/hanmi-financial-increases-quarterly-cash-dividend-by-20/ https://baymontchampaign.com/hanmi-financial-increases-quarterly-cash-dividend-by-20/#respond Thu, 29 Apr 2021 13:00:00 +0000 https://baymontchampaign.com/hanmi-financial-increases-quarterly-cash-dividend-by-20/ LOS ANGELES, April 29, 2021 (GLOBE NEWSWIRE) – Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company of Hanmi Bank, today announced that its board of directors has declared a cash dividend on its common shares for the second quarter of 2021 of $ 0.12 per share, up from 20% from $ 0.10 per share […]]]>

LOS ANGELES, April 29, 2021 (GLOBE NEWSWIRE) – Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company of Hanmi Bank, today announced that its board of directors has declared a cash dividend on its common shares for the second quarter of 2021 of $ 0.12 per share, up from 20% from $ 0.10 per share in the prior quarter. The dividend will be paid on May 27, 2021 to shareholders of record at the close of business on May 10, 2021.

“I am very pleased to announce the increase in our quarterly dividend for the second time this year,” said Bonnie Lee, President and CEO. “The new dividend, which reflects a 20% increase over the previous quarter, demonstrates the Board’s confidence in the Bank’s ability to generate profitable growth as we emerge from the pandemic and economic conditions continue to improve. ”

Hanmi’s board of directors will continue to monitor the financial performance of the company during the COVID-19 pandemic and will reassess the level of subsequent regular dividends on a quarterly basis going forward.

About Hanmi Financial Corporation
Based in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multiethnic communities through its network of 35 full-service branches and 9 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, business, SBA and trade finance loans to small and medium-sized businesses. Additional information is available at www.hanmi.com.

Forward-looking statements
This press release contains forward-looking statements, which are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements”. purposes of federal legislation. and state securities laws, including, but not limited to, statements on expected future operating and financial performance, financial condition and liquidity, business strategies, regulatory and competitive outlook, plans investment and expenditure, capital and financing needs and availability, management’s plans and objectives for future operations, developments in our capital and strategic plans, and other forecasts and statements of similar expectations and statements of assumptions underlying all of the above. In some cases, you can identify forward-looking statements by words such as “may”, “will”, “should”, “could”, “expects”, “anticipates”, “intends”, “anticipates”. “,” Believes, “” “believes,” “predicted”, “potential” or “continue”, or the negative of these and other comparable terms. Although we believe our forward-looking statements are reasonable, we cannot guarantee future results, activity levels, performance or achievements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ from those expressed or implied by forward-looking statements. These factors include the following:

  • the inability to maintain adequate levels of capital and liquidity to support our operations;
  • the effect of potential future supervisory actions against us or Hanmi Bank;
  • our ability to correct any material weaknesses in our internal controls over financial reporting;
  • general economic and commercial conditions at international and national level and in the fields in which we operate;
  • volatility and deterioration in the credit and equity markets;
  • changes in consumption, borrowing and saving habits;
  • the availability of capital from private and government sources;
  • Demographic changes;
  • competition for loans and deposits and the inability to attract or retain loans and deposits;
  • changes in interest rates and a decline in the level of our interest rate spread;
  • the risks of natural disasters;
  • a failure or breach of our operational or security systems or infrastructure, including cyber attacks;
  • the inability to maintain current technologies;
  • our inability to successfully implement future improvements in information technology;
  • difficult business and economic conditions which can adversely affect our industry and operations, including competition and insecurity from other financial institutions, fraudulent activity and negative publicity;
  • risks associated with Small Business Administration loans;
  • the inability to attract or retain key employees;
  • our ability to access profitable financing;
  • fluctuations in real estate values;
  • changes in accounting policies and practices;
  • the imposition of tariffs or other national or international government policies that affect the value of our borrowers’ products;
  • changes in government regulations including, but not limited to, any increase in FDIC insurance premiums;
  • Hanmi Bank’s ability to make distributions to Hanmi Financial Corporation, which is limited by certain factors, including Hanmi Bank’s retained earnings, net income, past distributions made and certain other financial tests;
  • the adequacy of our allowance for credit losses;
  • our credit quality and the effect of credit quality on our allowance for loan losses and allowance for credit losses;
  • changes in the financial performance and / or condition of our borrowers and the ability of our borrowers to perform the terms of their loans and other terms of credit agreements;
  • our ability to control spending;
  • changes in the securities markets; and
  • cybersecurity risks with respect to our information technology and those of our suppliers and third party suppliers.

Additionally, given its continuous and dynamic nature, it is difficult to predict the full impact of the COVID-19 outbreak on our business. The magnitude of this impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and mitigated and whether the continued reopening of businesses will result in a significant increase in economic activity. As a result of the COVID-19 pandemic and the resulting negative local and national economic consequences, we may be subject to any of the following risks, any of which could have a material adverse effect on our business, financial condition , our cash flow and operating results:

  • demand for our products and services may decline;
  • if the economy fails to substantially reopen and high unemployment rates persist for an extended period, delinquencies on loans, problematic assets and foreclosures may increase;
  • loan guarantees, especially real estate, may lose value, which could lead to increased loan losses;
  • our allowance for credit losses may need to be increased if borrowers experience financial difficulty;
  • a deterioration in commercial and economic conditions or in the financial markets could lead to an impairment of certain intangible assets, such as goodwill or our management assets;
  • the equity and liquidity of loan guarantors may decline, compromising their ability to honor their commitments to us;
  • a significant decrease in net income or a net loss over several quarters could cause the rate of our quarterly cash dividend to decrease;
  • litigation, regulatory risk and reputational risk relating to our participation in the Paycheck Protection Program and the risk that the Small Business Administration may not fund some or all of the PPP loan guarantees;
  • our cybersecurity risks are increased due to an increase in the number of employees working remotely;
  • FDIC premiums may increase if the agency incurs additional resolution costs; and
  • the unexpected loss or unavailability of key employees due to the outbreak, which could affect our ability to operate our business or execute our business strategy, especially since we may not be successful in finding and integrate appropriate replacements.

In addition, we set out certain risks in our reports filed with the United States Securities and Exchange Commission, including item 1A of our annual report on Form 10-K for the year ended December 31, 2020, our quarterly reports on Form 10-Q, and the current reports on Form 8-K that we will file below, which could cause actual results to differ from those projected. We assume no obligation to update these forward-looking statements, except as required by law.

Investor contacts:
Romolo (Ron) Santarosa
Senior Executive Vice President and Chief Financial Officer
213-427-5636

Lasse Glassen
Investor Relations
Addo Investor Relations
424-238-6249

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Opportunistic private credit group Monroe Capital finances press in West Palm Beach | Business https://baymontchampaign.com/opportunistic-private-credit-group-monroe-capital-finances-press-in-west-palm-beach-business/ https://baymontchampaign.com/opportunistic-private-credit-group-monroe-capital-finances-press-in-west-palm-beach-business/#respond Thu, 29 Apr 2021 10:00:46 +0000 https://baymontchampaign.com/opportunistic-private-credit-group-monroe-capital-finances-press-in-west-palm-beach-business/ CHICAGO – (BUSINESS WIRE) – April 29, 2021 – Monroe Capital LLC (“Monroe”) today announced that its opportunistic private lending group has entered into a $ 50.75 million mortgage loan to Tricera Capital for the construction and redevelopment of a mixed-use project, The Press, in West Palm Beach. Located on over 11 acres at 2751 […]]]>


CHICAGO – (BUSINESS WIRE) – April 29, 2021 –

Monroe Capital LLC (“Monroe”) today announced that its opportunistic private lending group has entered into a $ 50.75 million mortgage loan to Tricera Capital for the construction and redevelopment of a mixed-use project, The Press, in West Palm Beach.

Located on over 11 acres at 2751 S. Dixie Hwy. on the Palm Beach Post campus, The Press is an adaptive reuse project in which nearly all of the existing structures are preserved. It includes a 125,000 square foot retail component – Shops at the Press – and an adjacent 140,000 square foot office building under the Workspaces at the Press brand.

“We are delighted to complete this transaction and appreciate Monroe Capital’s belief in our company’s most ambitious project to date,” said Scott Sherman, Principal at Tricera Capital. “The tenant mix works well, with retailers that will complement the office tenants next door and in the surrounding neighborhood. The press is set to revitalize the Dixie Freeway corridor. “

“We are delighted to partner with Scott, Ben and the Tricera team on this asset. This represents Monroe’s continued interest and appreciation for opportunities in the South Florida real estate market, ”said Kyle Asher, co-director of Monroe Capital’s opportunistic private credit group. “Monroe continues to establish and grow its real estate business. While many competitors have been affected by COVID, we have identified opportunities and closed our seventh real estate transaction in the past 12 months. “

This transaction is representative of the Real Estate Finance vertical of Monroe Capital within the Opportunistic Private Credit group. The vertical sector focuses on structured debt and equity finance in complex and specific situations covering all types of assets and all geographies. The team has a broad investment mandate, flexible capital and pride themselves not only on their “bottom-up” real estate expertise, but also on their ability to act quickly and efficiently and provide certainty of execution. For over 17 years, the company has been investing in asset-backed transactions with attractive collateral, as well as cash flow and enterprise value based loans.

About Monroe Capital

Monroe Capital LLC (“Monroe”) is a leading asset management company specializing in the private credit markets through a variety of strategies including direct lending, asset lending, specialty finance, opportunistic lending and structured and actions. Since 2004, the company has successfully provided capital solutions to clients in the United States and Canada. Monroe prides itself on being a value-added and friendly partner for business owners, management, private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for institutional and high net worth investors, with a focus on generating high quality “alpha” returns, regardless of business or economic cycles. The company is headquartered in Chicago and has offices in Atlanta, Boston, Los Angeles, New York and San Francisco.

Monroe has been recognized by peers and investors with various awards including Private Debt Investor as 2020 Lower Mid Market Lender of the Year, 2020 Lender of the Year and 2020 CLO Manager of the Year, Americas; Creditflux as the best American direct lending fund 2020; Pension Bridge as the private credit strategy of the year 2020; and Global M&A Network as 2020 Lender of the Year in Small Intermediate Markets. For more information, please visit www.monroecap.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210429005113/en/

CONTACT: Theodore L. Koenig

Monroe Capital LLC

312-523-2360

tkoenig@monroecap.com Caroline Collins

BackBay Communications

617-963-0065

caroline.collins@backbaycommunications.com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA ILLINOIS

INDUSTRY KEYWORD: COMMERCIAL BUILDING AND REAL ESTATE CONSTRUCTION AND FINANCING OF PROFESSIONAL REAL ESTATE SERVICES

SOURCE: Monroe Capital LLC

Copyright Business Wire 2021.

PUB: 04/29/2021 06:00 / DISC: 04/29/2021 06:00

http://www.businesswire.com/news/home/20210429005113/en

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New Spanish plant Reig Jofre to produce J&J vaccine by end of Q2 https://baymontchampaign.com/new-spanish-plant-reig-jofre-to-produce-jj-vaccine-by-end-of-q2/ https://baymontchampaign.com/new-spanish-plant-reig-jofre-to-produce-jj-vaccine-by-end-of-q2/#respond Thu, 29 Apr 2021 08:18:28 +0000 https://baymontchampaign.com/new-spanish-plant-reig-jofre-to-produce-jj-vaccine-by-end-of-q2/ Bloomberg Novavax vaccine results will test 1190% surge in stocks (Bloomberg) – The upcoming release of the results of Novavax Inc.’s Covid-19 vaccine trial could not only help bring further relief from the pandemic around the world, but also validate the support of investors who backed the 1190% stock over the past year. The biotech […]]]>


Bloomberg

Novavax vaccine results will test 1190% surge in stocks

(Bloomberg) – The upcoming release of the results of Novavax Inc.’s Covid-19 vaccine trial could not only help bring further relief from the pandemic around the world, but also validate the support of investors who backed the 1190% stock over the past year. The biotech company said in March that its shot could be cleared by the Food and Drug Administration for emergency use as early as May. To meet its May target, Novavax may need to submit data to the FDA within the next week. It may take several weeks for regulators to review the results and decide whether or not to grant an authorization, based on the timelines of previous approvals of the Covid-19 vaccine in the U.S. If this materializes, the company will have the fourth Covid-19 vaccine in the United States in addition to shots by Pfizer Inc. with its German partner BioNTech SE, Moderna Inc. and Johnson & Johnson. Novavax representatives declined to comment on upcoming results and timing release of trial data.Novavax may have lost the race by vaccinating millions of Americans with more than 230 million doses administered in the United States, but a successful trial can still help developing countries like the United States. India and Brazil, where injections are in high demand as infections are reaching record levels. US President Joe Biden said on Tuesday that upcoming vaccines, including one from Novavax, could be shared with other countries. Shares of Novavax soared last summer when it became one of the pioneers in the race to develop a vaccination against the coronavirus. But since then, it has lagged behind the U.S. market leaders in both production and valuation. Moderna, which obtained emergency clearance in December, is now trading at around four times market value. of Novavax for about $ 17.6 billion, while BioNTech in Germany is worth $ 43 billion. CureVac NV, another vaccination prospect that has also been bolstered by its ties to Tesla Inc., has a valuation of around $ 21 billion. In a trial of 15,000 people in the UK, injecting Novavax was shown to be 89.7% effective in preventing symptoms of the disease. And with the rise of resistant variants, the bar for the next North American trial has been set lower, where an 80% efficiency would be a “knockout”, according to Sam Fazeli, an analyst at Bloomberg Intelligence. “What is very encouraging is the efficacy of 96.4% compared to previous versions of the virus and 86.3% against the variant B.1.1.7 prevalent in the UK – 57% of infections in the test. There were five severe cases of Covid-19 in the final analysis, suggesting that the vaccine has 100% efficacy similar to other vaccines being deployed, which is not surprising given its success against milder disease, ”Fazeli said. Thursday, after closing at a high of $ 319.93 in early February. The shares had six buy ratings, one hold and no sell recommendation among analysts tracked by Bloomberg. Expectations of further gains on the stock have increased pressure on short sellers who have more than $ 1.1 billion. bets in progress against the company as of April 29. according to data from S3 Partners. So far this year, Novavax short sellers have lost more than $ 800 million, according to Ihor Dusaniwsky, general manager of predictive analytics at S3. “The price force will likely force even more shorts out of their positions,” Dusaniwsky said in an interview. For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted source of business news. © 2021 Bloomberg LP



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Most air pollution harms communities of color more https://baymontchampaign.com/most-air-pollution-harms-communities-of-color-more/ https://baymontchampaign.com/most-air-pollution-harms-communities-of-color-more/#respond Wed, 28 Apr 2021 18:45:00 +0000 https://baymontchampaign.com/most-air-pollution-harms-communities-of-color-more/ Light and heavy vehicles both disproportionately affect people of color.Photo: Scott Olson (Getty Images) Unhealthy particles come from factories, cars, construction and fossil-fueled power plants, among others. A new study analyzing 14 major sources of air pollution shows that in the United States, they disproportionately affect people of color. For the study, published Wednesday in […]]]>


Light and heavy vehicles both disproportionately affect people of color.

Light and heavy vehicles both disproportionately affect people of color.
Photo: Scott Olson (Getty Images)

Unhealthy particles come from factories, cars, construction and fossil-fueled power plants, among others. A new study analyzing 14 major sources of air pollution shows that in the United States, they disproportionately affect people of color.

For the study, published Wednesday in Science Advances, the researchers used an air quality model to estimate the PM2.5 emitted by 5,434 sources listed in the Environmental Protection Agency’s 2014 national emissions inventory. They then grouped these sources into 14 different sectors, including industry, construction, residential gas burning, agriculture and commercial cooking, and mapped who lives near each of the pollution sectors.

People of color experience above-average exposures in 12 areas of particulate pollution that cause 75% of global exposure. Blacks and Hispanics bear an even greater burden than other people of color, with areas behind 78% and 87% of pollution in the study, which costs them more than average. Whites, on the other hand, that number fell to 40% of pollutants. This applied to rural and urban areas and to all income levels.

“Before doing all the research, we had this initial feeling, as is often the case with environmental issues, that there would be some really bad actors who might be the most effective to target if you want to solve the problem. the injustice of air pollution. We thought you might be looking for particularly unfair sources, ”said Joshua Apte, a pollution scientist at the University of California at Berkeley who co-authored the study. “But what we were really struck when we tried to find when we kind of looked at our results was how well all of the major sectors source in the United States. disproportionately affects … people of color. “

As the study notes, this disproportionate exposure isn’t an accident – it happens by design. Research shows that the public and private sectors are more likely to build all kinds of polluting infrastructure in and around areas where more non-whites live.

Much of this is due to the long history of policies aimed at enforcing racial segregation in the United States. For example, areas that have been subjected to redlining – the discriminatory lending practice where blacks have been denied home loans and insurance because their neighborhoods were labeled “unsafe” – always see higher rates of respiratory problems linked to air pollution. The particles – which are typically a byproduct of burning fossil fuels – are extremely small, holding up to 100 times finer than a strand of human hair. Beyond respiratory impacts, PM2.5 is particularly dangerous because when humans inhale it, the particles can enter our bloodstream and be carried to our brains, causing a host of other problems.

Christopher Tessum, assistant professor of civil and environmental engineering at the University of Illinois at Urbana-Champaign and co-author of the study, said redlining is just one example of discriminatory zoning practices.

“An important thing to consider is that [redlined] areas include only a very small percentage of the total population because the geographic area of ​​most urban areas has expanded considerably since the 1930s, and the effect we are seeing is just as large in current urban areas than it is in historic red. bordered areas, ”he wrote in an email. “So while documented historical racism and oppression is an important factor, our results suggest that areas that are built more recently are on average no better in terms of environmental justice.”

The disparity is also due to the geographic areas where businesses and governments choose to locate infrastructure and where different groups of people tend to live. For example, agricultural emissions are one of the few sources of pollution that affect whites more than average. This pollution comes from farms, which are most often located in rural areas which tend to be whiter than urban areas. In contrast, there are more cars and construction projects in the big cities, where more non-whites live.

Since this disparity has been created by many policies and practices, there are no quick fixes to address it. This is especially true because of the way American policy is worded.

“The way the Clean Air Act works is that we have ambient air quality standards, and you are in violation as a general as a metropolitan area if your average pollution levels fall above that standard. Said Apte. “Most areas of the United States, by definition of how we enforce our laws, luckily meet our air quality standards.”

As standards become more stringent, Apte said, overall air pollution decreases as entities come into compliance. “But if the sources are distributed disparately in communities of color at all spatial scales … tightening standards simply reduces total pollution levels, but does not remove cooked disparities,” he said. . “To me that means you have to ask yourself where these sources are. Until we achieve a pollution-free world, making this burden more evenly shared will likely be an important part of the solution. “

This does not mean, of course, that we should start building new gas plants and highways in white neighborhoods to increase pollution levels. On the contrary, Apte said, the United States could find ways to get businesses and municipalities to pay special attention to reducing pollution in heavily affected communities.

As the authors note, while their results are remarkably striking, they are unlikely to come as a surprise to community groups who have been battling air pollution for decades and know that people of color are more likely to experience the effects. .

“The best way to do this is probably to listen to the people who live in the most affected communities and the organizations that represent them,” Tessum said.

Apte also added that while working with field organizers is a great idea, we should not place the burden on them to tackle air pollution, but rather support them both locally and in promoting holistic policies.

“When you have such a systemic problem, there has to be a call for centralized federal action,” Apte said.



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Ellery Panthers 4-H Club Receives Grant From Farm Credit Illinois | To live in the countryside https://baymontchampaign.com/ellery-panthers-4-h-club-receives-grant-from-farm-credit-illinois-to-live-in-the-countryside/ https://baymontchampaign.com/ellery-panthers-4-h-club-receives-grant-from-farm-credit-illinois-to-live-in-the-countryside/#respond Wed, 28 Apr 2021 17:10:00 +0000 https://baymontchampaign.com/ellery-panthers-4-h-club-receives-grant-from-farm-credit-illinois-to-live-in-the-countryside/ Farm Credit Illinois recently awarded a community improvement grant in the amount of $ 500 to the Ellery Panthers Edwards County 4-H Club. The club will use grant funds to build physiotherapy stages for Little Prairie Pre-school and provide sensory guidance for students. The Ellery Panthers 4-H Club was one of 50 4-H clubs and […]]]>


Farm Credit Illinois recently awarded a community improvement grant in the amount of $ 500 to the Ellery Panthers

Edwards County 4-H Club.

The club will use grant funds to build physiotherapy stages for Little Prairie Pre-school and provide sensory guidance for students.

The Ellery Panthers 4-H Club was one of 50 4-H clubs and chapters of the FFA to receive a Community Improvement Grant. This year, Farm Credit Illinois awarded a total of $ 25,000 in grants to clubs and chapters that make tangible contributions in their communities by implementing an improvement project.

The Ellery Panthers 4-H Club is always looking for opportunities to “give back” and share with its neighbors. Many of our club members attended Little Prairie Preschool in their early years. Monthly club meetings are held at Little Prairie Christian Church, home of the preschool. The 4-H club contacted preschool teachers and the need for a set of therapeutic steps was mentioned.

Club leaders wrote for a farm credit grant and received $ 500.00 for the project. Club leader Greg Shelton was indispensable for this project, bringing his knowledge of the construction process, as well as the equipment and workshop space to complete the project.

Various club members and club parents assisted in the process. When the final polyurethane is applied, the steps will be presented to Little Prairie Kindergarten by the Ellery Panthers 4-H Club.

Farm Credit Illinois is a farmer-owned and run agricultural cooperative serving 16,000 farmers, rural landowners and voting shareholder members of the agri-food industry in all 60 counties of southern Illinois. Dedicated to helping farm families

Succeed, FCI provides competitive and flexible financing, crop insurance expertise and rural 1st® campaign loans. FCI manages a $ 4.8 billion loan portfolio, sells 1.4 million acres of crop insurance coverage, and employs 244 people based at Muhammad’s head office and 14 regional offices. The Association will provide additional cooperative value by returning

$ 40 million in 2020 income in the form of a cash rebate to member-owners in 2021. The US farm credit system supports rural communities, farm families, and agriculture with reliable and consistent credit and financial services today. hui and tomorrow.



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American Fintech Council Expands Community Advisory Board https://baymontchampaign.com/american-fintech-council-expands-community-advisory-board/ https://baymontchampaign.com/american-fintech-council-expands-community-advisory-board/#respond Wed, 28 Apr 2021 12:00:00 +0000 https://baymontchampaign.com/american-fintech-council-expands-community-advisory-board/ WASHINGTON, April 28, 2021 / PRNewswire / – Today, the American Fintech Council (“AFC”) announced that its Community Advisory Board is expanding to include more prominent voices in consumer advocacy, community economic development and academy. New members of the American Fintech Council Community Advisory Board include Opportunity Funding Network, the Cambridge University Center for Alternative […]]]>


WASHINGTON, April 28, 2021 / PRNewswire / – Today, the American Fintech Council (“AFC”) announced that its Community Advisory Board is expanding to include more prominent voices in consumer advocacy, community economic development and academy. New members of the American Fintech Council Community Advisory Board include Opportunity Funding Network, the Cambridge University Center for Alternative Finance, the Coalition of African-American Credit Unions and former CFPB official Professor Christopher peterson of University of Utah.

The Community Advisory Committee will work with AFC members and leaders to advance a more accountable, inclusive and customer-centric financial system.

“We are excited to partner with the American FinTech Council as we work on our mission of creating and transferring knowledge that supports evidence-based decision making in FinTech,” said Tania Ziegler, Global Benchmarking Lead at the Cambridge Center for Alternative Finance.

In addition to deepening the dialogue between fintech, consumer advocacy and CDFIs, the AFC and its community advisory board will pursue common policy and regulatory goals addressing topics such as preventing discriminatory outcomes in the use of digital technology. artificial intelligence, responsible lending and the use of data. advance financial inclusion.

“We look forward to bringing the perspective of Community Development Finance Institutions (CDFIs) to the AFC Community Advisory Board discussions on access to responsible financial products and services,” said Dafina williams, Senior Vice President of Public Policy at Opportunity Finance Network, the national association of CDFIs.

The AFC is actively engaged with state and federal legislatures and regulators on these issues. Recently, the AFC worked with the Woodstock Institute – an existing member of the Community Advisory Board – to support passage of the Illinois Black Legislative Caucus’s economic equity agenda, which included a 36% annual rate cap. on the model of the Military Lending Act.

“The public deserves reasonable consumer protection laws and responsible financial products,” said former official professor of the CFPB Christopher peterson. “I look forward to volunteering with the American Fintech Council to help expand the federal interest rate limit that currently protects military service members to include all Americans.

Existing members of the Community Advisory Board include the Woodstock Institute, the Accion Opportunity Fund, the Capital Good Fund and Professor Cornelius hurley of Boston university.

About the American Fintech Council: The mission of the American Fintech Council is to promote an innovative, responsible, inclusive and customer-centric financial system. You can find out more about www.fintechcouncil.org.

Contact: [email protected]

SOURCE American Fintech Council

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