Democracy Dies in Darkness Sections Home Subscribe Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Business by Renae Merle by Renae Merle Email the author April 18 at 1:58 PM Email the author The Keyes Hyundai dealership in Van Nuys, Calif., in 2016. (Patrick T. Fallon/Bloomberg News) The Senate on Wednesday voted to kill a five-year-old Obama administration policy warning auto lenders not to discriminate against minority borrowers. The legislation, which passed 51 to 47 largely along party lines, is the latest Republican rebuke of the Consumer Financial Protection Bureau’s history of aggressive tactics. Sen. Joe Manchin III (W.Va.) was the only Democrat to vote in favor of the … [Read more...] about The Senate just voted to kill a policy warning auto lenders about discrimination against minority borrowers
A Baltimore tech start-up aims to become the Match.com of mid-sized firms needing a loan to fund their growth.Cerebro aims to help companies too big to rely solely on their local bank branch and not yet in the world of large public corporations through the sometimes difficult process of shopping for a loan.“No company has a sense of how much they can borrow without calling 30 lenders and handing out their information to each of them,” said Matt Bjonerud, founder and CEO for Cerebro, Spanish for brain.Launched in October, Cerebro recently raised $2 million from Tedco, the state-created business development organization, and the private equity firm Sterling Partners, co-founded by the founder and chairman of Laureate Education, Doug Becker, who also sits on Cerebro’s board. Five employees work from Cerebro’s Mount Vernon offices.The money is being used to further develop the technology platform that businesses can use to solicit capital from banks and other … [Read more...] about Baltimore start-up offers online matching for borrowers and lenders
Updated at 11:46 p.m. Tuesday, April 17, 2018: video added. HOLYOKE -- The City Council voted 12-0 Tuesday at City Hall to approve borrowing $13.8 million to renovate three schools. The funding means that a new boiler will be installed in the summer at Kelly School at 216 West St., said Whitney G. Anderson, maintenance administrator for the Holyoke public schools. Massachusetts will reimburse 77 percent of Holyoke school renovations Next year, the borrowing will pay for the replacement of 1,000 windows at Kelly, Sullivan School at 400 Jarvis Ave. and Morgan School at 596 South Bridge St. The Massachusetts School Building Authority (MSBA) has told officials here the state will reimburse the city for 77 percent of the cost. That would mean the state will pay $10.6 million and the city $3.1 million. Check back with The Republican and MassLive.com for additional coverage on the school renovations. … [Read more...] about $13.8 million in borrowing approved to renovate 3 Holyoke schools
By Mike Steely Should the city borrow $17.5 million through bonds or pay for the city’s ownership and conversion of street lights to LED bulbs? That was a question raised Tuesday evening by Councilman George Wallace regarding two items on the agenda: one to authorize $10M for the restoration of the Civic Auditorium and Coliseum and the other $17.5M to issue bonds basically to cover the purchase and retrofitting of the current KUB owned street lights. Wallace said the city has “a healthy fund balance” and asked Finance Director Jim York why borrow when the city can just pay for it. York answered that the $10 million isn’t part of the bond issue. He said paying for the street light project would mean the city would need to find the same amount of money in ten years. He said the $10M for the coliseum restoration is already in the budget but currently there are no plans as to where the money will come from. Mayor Madeline Rogero agreed with York and said she would … [Read more...] about Borrow the money or use existing city funds?
Monday April 16, 2018 12:01 AM Regulations are getting tighter. Written by Steve Rosen — Most of what you read and hear about student loan borrowers seeking repayment relief through bankruptcy are sad stories. To read the full story, choose an option below Login $1 day pass Subscribe - Plans starting as low as 25 cents a day. … [Read more...] about Kids and Money: Bankruptcy should be last resort for student loan borrowers