Sarah Taddeo Rochester Democrat and Chronicle Published 7:00 AM EDT Aug 10, 2019 My consumer watchdog coverage is largely thanks to our readers telling me about their most stubborn problems. People have contacted me by phone, email or a submission form at the end of one of my stories. A number of you have come through with questions you think I should investigate. I've corresponded with many of you over email about your submitted inquiries, and I turned some into stories. Here's a submitted question about home equity lines of credit — a financial concept that might be difficult for you to untangle. What exactly is a home equity line of credit? A home equity line of credit (HELOC) is a way to borrow money against the equity in your home and to pay back the loan over time plus interest. That statement might not mean much to you, so David Homsi, an enterprise retail sales manager with Bank of America, helped me break it down. Let’s say Joe … [Read more...] about What is a home equity line of credit? Here’s how a HELOC works.
Business lines of credit for new businesses
EVERY WEEKDAY Lika Koplatadze, who sells consumer loans for TBC Bank, one of Georgia’s largest, calls between 170 and 250 of her compatriots. She does not choose her targets. An algorithm crunches the credit scores (a number between 0 and 400 indicating the likelihood of repaying a loan) of millions of Georgians, selects the best prospects and auto-dials them. Something like this has been happening in rich countries for decades, but in Georgia it is a recent development. In 2005 a handful of Georgian banks joined with Creditinfo, an Icelandic group, to set up the country’s first credit bureau. Within two years the bureau had records on 232,000 people. Now it covers 2.6m Georgians, in a country with about 3m adults. Get our daily newsletter Upgrade your inbox and get our Daily Dispatch and Editor's Picks. The impact has been profound. Loan officers used to make around ten decisions a day, says Vasil Verulashvili, who runs credit-risk management for Bank of Georgia, the … [Read more...] about A brief history—and future—of credit scores
PUBLISHED: 13:28 02 May 2019 | UPDATED: 13:32 02 May 2019 Get set for a wild weekend in Norwich as the line-up for a brand new music festival has been announced. Wild Paths Festival logoWild Paths will take place across Norwich from Friday October 18 to Sunday October 20 and will showcase a mix of emerging and established artists.A buzz has been building in the city over the last few weeks with the festival logo appearing on the social media accounts of city businesses and local musicians. The festival will take place at venues across the city, including the Waterfront and Norwich Arts Centre, and will take inspiration from The Great Escape Festival in Brighton which takes place annually and showcases over 400 artists at 35 locations.Among the first acts announced for the event include Argentinian-Swedish indie folk singer Jose Gonzalez, Australian alt-pop group Cub Sport and British neo-soul singer Yazmin Lacey. A spokesman for Wild Paths Festival said: “The aim of vision for … [Read more...] about Line-up announced for new Norwich music festival
LONDON (Reuters) - Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. A man enters the Lloyd's of London building in the City of London financial district in London, Britain, April 16, 2019. Picture taken April 16, 2019. REUTERS/Hannah McKay Old-fashioned business practices, exposure to natural disasters, competition from rival centres and Brexit are all threatening Lloyd’s reputation as the place to insure anything from ships to sculptures to soccer stars’ legs. Stung by combined losses of 3 billion pounds ($3.9 billion) over the last two years, John Neal, the new chief executive of an insurance market founded in a London coffee house in 1688, is under growing pressure to drag Lloyd’s into the 21st century. Following a six-month review, Neal will unveil a new strategy next week expected to include a push to automate arcane processes, a shift away from risky catastrophe insurance, a … [Read more...] about Lloyd’s of London plots new course as storm clouds gather
Jordan Henderson continued his recent renaissance in an advanced midfield role in Liverpool's 2-0 victory over Chelsea on Sunday. Having registered a goal and assist against Southampton in the Reds' last Premier League outing before shining in their Champions League quarter-final first leg against FC Porto, the Liverpool captain set up Sadio Mane's opener against the Londoners as victory saw Jurgen Klopp's side regain top-spot in the league table from Manchester City. The German offered a tongue-in-cheek apology to Henderson following his side's victory over Porto for having previously played him in a deeper midfield role for much of his own time on Merseyside. "Hendo’s a brilliant player, I’m really happy that he can show that again," Klopp said. "He likes the position obviously. "It was my fault that for one-and-a-half years he played as a number six. Sorry for that! Follow the latest Liverpool news and transfer rumours HERE "But we needed him there. It was a really good … [Read more...] about Klopp criticised & told he can’t take credit for Henderson revival