press release – SMLXtlarge http://www.smlxtralarge.com/ Sat, 05 Mar 2022 13:45:58 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.smlxtralarge.com/wp-content/uploads/2021/07/icon-5-150x150.png press release – SMLXtlarge http://www.smlxtralarge.com/ 32 32 4 online loans that can help cover https://www.smlxtralarge.com/4-online-loans-that-can-help-cover/ Sat, 05 Mar 2022 13:45:58 +0000 https://www.smlxtralarge.com/4-online-loans-that-can-help-cover/ NEW YORK, March 05, 2022 (GLOBE NEWSWIRE) — Online loans are designed to help borrowers quickly access additional funds to cover essential and emergency expenses. From cash advances and installment loans to title loans and lines of credit, there are many online loans that borrowers can choose from to get the money they need. Here’s […]]]>

NEW YORK, March 05, 2022 (GLOBE NEWSWIRE) — Online loans are designed to help borrowers quickly access additional funds to cover essential and emergency expenses. From cash advances and installment loans to title loans and lines of credit, there are many online loans that borrowers can choose from to get the money they need. Here’s how online loans for bad credit work and four types of loans that can help borrowers cover their expenses in 2022.

What is an online loan?

An online loan is a loan that allows borrowers to apply for and receive money quickly, all from the comfort of their own home or on the go. These types of loans often come with easy applications and quick approvals.

Borrowers may not need good credit to be approved for an online loan. Many online lenders consider factors other than the borrower’s creditworthiness when deciding whether to approve them, such as: B. their income, career and current debts.

Types of online loans

Here are 4 types of online loans bad credit borrowers can use to cover their expenses in 2022:

cash advances

Cash advances give borrowers quick funds to cover expenses before their next payday. With these short-term small loans, the borrower can typically get a few hundred dollars and repay that loan in two to four weeks when they get their next paycheck.

installment loans

Installment loans can give borrowers a lump sum up front that they pay back in fixed monthly payments or installments. The borrower will usually repay this loan over a few months or years. Installment loans can be a good option for borrowers who need a larger amount of money, whether it’s financing a home improvement project or paying an unexpected medical bill.

title loan

Title loans are secured loans where the borrower can use their car as collateral. These loans allow the borrower to fill out an application online, and the lender then appraises their vehicle to determine how much it’s worth. Next, the lender offers a loan amount worth 25 to 50% of the car’s appraised value. When a borrower is approved for a title loan, the lender retains title and can continue driving their car while repaying the loan.

lines of credit

A line of credit is a flexible loan that allows the borrower to withdraw money whenever they need it, up to their set credit limit. Then the borrower can decide whether he wants to repay the loan all at once or over a longer period of time. With a credit line, the borrower only pays interest on the amount borrowed.

The final result

Whether borrowers need a larger sum of money to fund a project or just a few hundred dollars to cover essential expenses, there are many types of online loans that can meet their unique needs. Advance America offers cash advances, installment loans, title loans, and lines of credit that can bring in funds to borrowers as soon as they apply same-day.

Applying for an online loan can take just minutes and Advance America offers an instant approval decision. Borrowers can visit AdvanceAmerica.net to compare their options and find a loan that fits their financial situation and budget.

Note: The information provided in this article is for informational purposes only. Ask your financial advisor about your financial situation.

This content was distributed via Newswire.com’s press release distribution service.

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Cryptocurrency Traders’ Super PACs Support State Rep. Jasmine Crockett https://www.smlxtralarge.com/cryptocurrency-traders-super-pacs-support-state-rep-jasmine-crockett/ Fri, 11 Feb 2022 22:11:09 +0000 https://www.smlxtralarge.com/cryptocurrency-traders-super-pacs-support-state-rep-jasmine-crockett/ Sign up for The Brief, our daily newsletter that keeps readers informed about Texas’ most essential news. A pair of super PACs backed by cryptocurrency financiers are making a $2 million push to elect State Rep. Jasmine Crockett, D-Dallas, into the home stretch of her crowded congressional primary. That’s a significant amount of money to […]]]>

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Focus on Fintech: Auto Lender LoanMart Agrees to Terminate Bank Partnership Lending Program After California’s DFPI Issues “True Lender” Request | Eversheds Sutherland (USA) LLP https://www.smlxtralarge.com/focus-on-fintech-auto-lender-loanmart-agrees-to-terminate-bank-partnership-lending-program-after-californias-dfpi-issues-true-lender-request-eversheds-sutherland-usa-llp/ Wed, 26 Jan 2022 15:45:00 +0000 https://www.smlxtralarge.com/focus-on-fintech-auto-lender-loanmart-agrees-to-terminate-bank-partnership-lending-program-after-californias-dfpi-issues-true-lender-request-eversheds-sutherland-usa-llp/ On December 14, 2021, Wheels Financial, LLC (d/b/a LoanMart) entered into a Consent Order with the California Department of Financial Products and Innovation (DFPI) in which the Company agreed to extend its lending partnership with Capital Community Bank (CC- Bank). The order also prohibits LoanMart from: (1) marketing or servicing title loans of less than […]]]>

On December 14, 2021, Wheels Financial, LLC (d/b/a LoanMart) entered into a Consent Order with the California Department of Financial Products and Innovation (DFPI) in which the Company agreed to extend its lending partnership with Capital Community Bank (CC- Bank). The order also prohibits LoanMart from: (1) marketing or servicing title loans of less than $10,000 with interest rates greater than 36 percent in California for the next twenty-one months; or (2) enter into a new lending partnership with a state-licensed bank by September 2023. LoanMart is licensed under the California Finance Act to provide consumer credit.

As a licensed bank in Utah, CC Bank is authorized to apply the interest rate laws of Utah to loans it makes to California residents, even if those interest rates exceed the California interest rate cap. Prior to January 1, 2020, when the California Fair Access to Credit Act (FACA) went into effect, California did not cap interest rates on consumer loans greater than $2,500. FACA capped the annual interest rate on loans between $2,500 and $10,000 at 36% plus the federal funds rate. According to DFPI, the loans CC Bank made to California borrowers had annual interest rates in excess of 90%.

The settlement order resulted from an extensive dialogue between the DFPI and LoanMart, in which the DFPI sought to determine whether LoanMart’s role in the lending program was “sufficient to require compliance with California lending laws.” DFPI’s language suggests the agency is considering whether LoanMart, rather than CC Bank, is the “true lender” with respect to the loans in question. The sharing of credit-related activities and economic risk between the marketplace platform and its banking partner are key issues in a true lender analysis. However, the DFPI Consent Order does not describe the details of the loan agreement between LoanMart and CC Bank, except that LoanMart was involved in the “marketing” and “facilitation” of consumer loans originated by CC Bank.

For this reason, the LoanMart Marketplace lender comparison does not provide useful guidance as to the impact of specific program features on a true lender analysis. It is also difficult to draw general conclusions about DFPI’s enforcement stance due to factors specific to LoanMart. Unlike many marketplace lenders that position themselves as mere service providers to their banking partners, LoanMart extended direct-to-consumer lending under a California lending license before partnering with CC Bank and retained its license thereafter. As a result, LoanMart was subject to the regulator of the DFPI with respect to loans originated in California.1 LoanMart was also one of the largest title lenders in the state. LoanMart’s status as a regulated licensee and its high visibility may have been factors in the DFPI’s decision to target the company.

Additionally, the timing of LoanMart’s partnership with CC Bank influenced DFPI. LoanMart transitioned its California lending program from a direct lending model to the partnership model almost immediately after the FACA interest rate caps that would otherwise apply to its loans went into effect. The DFPI viewed LoanMart’s move from licensed lending to a banking partnership model as a potential “direct attempt to circumvent interest rate caps.”2 The DFPI press release regarding the LoanMart settlement further states that the agency “will continue to fight any efforts to circumvent California’s Fair Access to Credit Act.”

In summary, the DFPI appears to be focused on business models, including banking partnerships, that purport to exempt loans to California residents from FACA’s interest rate limits. In addition to using its supervisory powers over licensed lenders, as is the case with LoanMart, the DFPI could seek to combat business models it sees as evasive by using its investigative and enforcement powers under the California Consumer Financial Protection Act (CFPL). The CFPL applies to unlicensed providers of consumer financial services and prohibits any unfair, deceptive or abusive act or practice.3 The CFPL authorizes the DFPI to enforce the CFPL’s UDAAP prohibition and to subject certain consumer financial services providers and their service providers to DFPI oversight by order or rulemaking.4

_____

1 In contrast, unlicensed non-bank lenders are not regulated by the DFPI but are subject to its enforcement powers under the California Consumer Financial Protection Law (CFPL), which prohibits unfair, fraudulent and abusive acts and practices.

2 The California Funding Act (as amended by the Fair Access to Credit Act) does not contain a general or “general” prohibition on tax evasion. However, it addresses attempts to circumvent legal requirements by inflating the principal amount of the loan (to take advantage of less stringent requirements for larger loans) or by lending to California residents from abroad.

3 cal. fin. Code § 90012.

4 cal fin. Code § 90010.

[View source.]

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United Service Organizations opens new center at SLC Airport https://www.smlxtralarge.com/united-service-organizations-opens-new-center-at-slc-airport/ Sat, 08 Jan 2022 20:13:00 +0000 https://www.smlxtralarge.com/united-service-organizations-opens-new-center-at-slc-airport/ SALT LAKE CITY (ABC4) – United Service Organizations (USO) is opening a new airport hub, which will provide support to service members and families serving, training and traveling in Utah for the first time since World War II. According to a press release, the USO will provide support to the 32,840 active-duty and reserve members […]]]>


SALT LAKE CITY (ABC4) – United Service Organizations (USO) is opening a new airport hub, which will provide support to service members and families serving, training and traveling in Utah for the first time since World War II.

According to a press release, the USO will provide support to the 32,840 active-duty and reserve members of the armed forces stationed over 84,899 square miles, including many underserved locations in and around the state.

“The USO goes where our troops go and we are proud to support our service members and their families who serve, train and travel in Utah,” said USO West President Bob Kurkjian. “We are extremely grateful for our partnership with Salt Lake City International Airport, as well as with our partners Northrop Grumman, Delta Airlines, Adobe, and the Utah Department of Veterans Affairs and Military Affairs, for assisting the ‘USO to keep our troops connected to family, home and country with this new airport hub.

The organization plans to do a grand opening on Feb. 4, which will showcase a 933-square-foot facility that can provide equipment and outreach programs to current members, as well as their families, of the military.

Amenities will include furniture for resting, computers and Wi-Fi, free snacks and drinks, luggage storage and a seating area with TV, movies and games.

Bill Wyatt, Executive Director of the Salt Lake City Airports Department, said, “We hope military personnel who connect through SLC find rest and relaxation here and that it makes their travels more enjoyable.

The USO has appointed Nate Vanenberg, a US Navy and Utah Air National Guard veteran, as USO Utah’s director of operations and programs to oversee the new center.

In addition to amenities, the new center will provide support operations and program delivery to the state’s five military bases, including “USO bridging programs, family days, emotional wellness programs, camps. for kids, sports entertainment, game nights, vacation programs, the Bob Hope Legacy program and more.

The USO has served the military for over 80 years, and they are currently looking for volunteers to join their team of more than 30,000 people who are supported.

To donate, volunteer, or explore sponsorship opportunities with USO Utah, please visit utah.uso.org.


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Doma customer closes loans 30 days faster | Messages https://www.smlxtralarge.com/doma-customer-closes-loans-30-days-faster-messages/ Fri, 07 Jan 2022 14:03:45 +0000 https://www.smlxtralarge.com/doma-customer-closes-loans-30-days-faster-messages/ Since AdvantageFirst began using Doma’s technology to process refinancing title orders, turnaround times have accelerated dramatically, according to Doma. Such orders took up to 10 days. 77 percent of these orders now receive a title decision in less than a minute. “Communication at Doma is day and night compared to what we were used to,” […]]]>
Since AdvantageFirst began using Doma’s technology to process refinancing title orders, turnaround times have accelerated dramatically, according to Doma. Such orders took up to 10 days. 77 percent of these orders now receive a title decision in less than a minute.

“Communication at Doma is day and night compared to what we were used to,” said Jeff Ravenstine, executive vice president of operations at AdvantageFirst, in a press release. “Between fast response times and the use of instant title technology, we are now closing deals up to 30 days faster. We look forward to further working and expanding our partnership with Doma to further streamline our operations as we expand our offering on the east coast. “

Prior to working with Doma, AdvantageFirst experienced long waiting times from title providers, according to Doma, which resulted in increased costs and decreased credit processing capacity.

“It is impressive to see firsthand the efficiency gains AdvantageFirst has achieved from implementing Doma technology to date,” said Max Simkoff, CEO of Doma. “We are proud to partner with a company that is committed to providing their customers with an instant, digital closing experience, and look forward to helping AdvantageFirst continue to exceed customer expectations.”

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GRSi Continues To Expand NHLBI Support With New 5 Year Task To Secure … | Your money https://www.smlxtralarge.com/grsi-continues-to-expand-nhlbi-support-with-new-5-year-task-to-secure-your-money/ Tue, 28 Dec 2021 13:00:00 +0000 https://www.smlxtralarge.com/grsi-continues-to-expand-nhlbi-support-with-new-5-year-task-to-secure-your-money/ BETHESDA, Md., Dec. 28, 2021 (GLOBE NEWSWIRE) – As part of this new five-year effort, the GRSi team will expand support for the National Heart, Lung and Blood Institute (NHLBI), which provides global leadership for to promote the prevention and treatment of heart, lung and blood disorders and to improve the health of all individuals […]]]>


BETHESDA, Md., Dec. 28, 2021 (GLOBE NEWSWIRE) – As part of this new five-year effort, the GRSi team will expand support for the National Heart, Lung and Blood Institute (NHLBI), which provides global leadership for to promote the prevention and treatment of heart, lung and blood disorders and to improve the health of all individuals so that they can live longer and more fulfilling lives. This effort continues to build on GRSi’s cybersecurity services provided across NHLBI to include performing risk and threat analyzes for critical infrastructure systems and high-value assets, implementing implementing a trustless enterprise architecture and improving security support services to end users. This support is essential to ensure the protection of critical NHLBI data and assets on-premises and in their poly-cloud environments, while transforming the user experience to further empower researchers in their day-to-day operations without compromising security needs. As part of this expansion, GRSi is also responsible for modernizing NHLBI’s AV systems to take advantage of new and emerging technologies while preparing main campus conferencing capabilities for the hybrid workforce. Through this partnership with NHLBI, GRSi will provide a seamless post-pandemic work experience for the user base and enhance NHLBI’s ability to support a flexible telecommuting environment for the future.

“We are delighted with this continued expansion of our support for the NHLBI, whose cutting edge mission is so critical in the areas of heart, lung and blood disease and conditions, as well as in COVID-19 research and treatment. These projects are winning is yet another testament to the trust NHLBI and ITAC have placed in GRSi, and we are proud to partner with them to stay ahead of the ever-changing landscape of cyber threats facing government as well as of their efforts to return to the physical workspace. “

– Diane Yarnell, Executive Vice-President and Chief of Staff

GRSi, named Government Contracting Company of the Year for 2021, is a leading professional engineering and technical services company delivering next-generation systems engineering, cybersecurity, technology uptake and enterprise operations management (EOps) based on best practices. Our top global talent bring proven agility and innovation while maintaining compliance and governance. GRSi stabilizes, optimizes and transforms our customers’ environments, achieving their essential goals of resilient, reliable and forward-looking technical efficiency.

GRSi has provided excellence in professional and technical services for nearly two decades to federal, defense, intelligence and commercial clients around the world. Our subject matter experts, refined processes and best-suited technological implementations ensure excellence every day. for more information, contact media@grsi.com.

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Financial support from Visit Bend launches the Sustainable Tourism Lab at OSU-Cascades https://www.smlxtralarge.com/financial-support-from-visit-bend-launches-the-sustainable-tourism-lab-at-osu-cascades/ Thu, 16 Dec 2021 01:41:15 +0000 https://www.smlxtralarge.com/financial-support-from-visit-bend-launches-the-sustainable-tourism-lab-at-osu-cascades/ BEND, Ore. (KTVZ) – The Oregon State University-Cascades announced Wednesday it will establish a research lab to provide data and services to help tourism entities across the country and in Bend balance visitor needs and impact on the community, through a commitment of $ 125,000 from Visit Bend, made through the OSU Foundation. “We are […]]]>


BEND, Ore. (KTVZ) – The Oregon State University-Cascades announced Wednesday it will establish a research lab to provide data and services to help tourism entities across the country and in Bend balance visitor needs and impact on the community, through a commitment of $ 125,000 from Visit Bend, made through the OSU Foundation.

“We are grateful to Visit Bend for its generosity and visionary leadership in helping to launch a research lab that can support a sustainable economic, social and environmental future for tourism destinations like Bend,” said Andrew Ketsdever, vice president of interim OSU-Cascades, in the announcement press release, which continues in its entirety below:

Tourism accounts for 10% of global gross and $ 12.8 billion in direct spending in Oregon in 2019. Until now, little research was available to support best practices within the industry at scale. global, according to Todd Montgomery, executive in residence and Robin and Curt Baney, professor of hospitality management for the hotel management program at OSU-Cascades, and director of the new sustainable tourism laboratory.

“Tourism brings economic benefits to destinations, but if left unchecked it can also degrade the natural areas that make these places attractive to visit and experience,” Montgomery said. “We not only want to help maintain what makes these destinations special, but also balance issues like fair wages and affordable housing for tourism workers in these communities.”

“If it only benefits a few, it doesn’t work – it doesn’t work in the long run,” Montgomery said. “But if you can get everybody to understand that – it’s complicated but to use this lab as a way to create ideas, new ideas to hopefully move that needle, then that’s a really powerful thing. “

The Visit Bend giveaway will support continued measurement of community sentiment towards tourism in Bend and benchmark results against similar markets. Comments will be solicited from a range of community audiences, including business owners, recreation enthusiasts and underserved populations, to understand how the benefits and challenges of tourism are viewed across the board. a community.

“I am grateful to Visit Bend for their generous commitment to this project,” said Shawn L. Scoville, President and CEO of the OSU Foundation. “This research lab is a great example of how donor organizations can partner with OSU to help communities thrive.”

“I think we open our minds to the idea that the people who work in the industry are as important as the dollars generated by the industry,” said Kevney Dugan, CEO of Visit Bend. “And that’s when you get into wages or affordable housing, and other issues, and when you look at the whole industry, do we really explain everything that is. going there? “

Previous research conducted as part of the OSU-Cascades hospitality program investigated pre-pandemic workforce shortages in the national hospitality industry and recommended retention strategies for them. employers. He also looked at technological solutions to food waste in the hospitality industry. Montgomery is the co-host of a television show exploring the intersection of technology in the hospitality industry around the world.

The Sustainable Tourism Lab will draw on the skills of undergraduate student interns and faculty researchers in fields such as business, computer science and energy systems engineering. It should serve as a resource for the tourism industry, as well as for nonprofit, government and academic research partners, and communities.

“Visit Bend is deeply committed to supporting sustainable tourism,” said Visit Bend CEO Kevney Dugan. “By pledging financial support for this initiative, we are helping to preserve Bend’s special places for community members and future generations of guests.”

“I think we can learn a lot from destinations like Hawaii or other places about how they approached housing or how they approached wages or benefits,” said Dugan. “I think for us it’s really about getting smarter and as this industry evolves we understand what this landscape looks like.”

“Employers want to know what benefits and what things they can do to attract and retain the best response,” Montgomery added. “The employee side – they want to make sure they’re in a job they can stay with. “

About OSU-Cascades: Oregon State University’s Bend campus brings higher education to central Oregon, the state’s fastest growing region. Surrounded by 2.5 million acres of mountains and high desert, OSU-Cascades is a premier research university where small classes accelerate faculty-student mentorship. Degree programs meet the needs of industry and economics in areas such as innovation and entrepreneurship, natural ecosystems, health and wellness, the arts and sciences, and prepare students for the challenges of tomorrow. OSU-Cascades expands to serve 3,000 to 5,000 students, building a 128-acre campus with net zero goals.


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DFPI reaches agreement to terminate high yield loans that LoanMart will market for 21 months https://www.smlxtralarge.com/dfpi-reaches-agreement-to-terminate-high-yield-loans-that-loanmart-will-market-for-21-months/ Tue, 14 Dec 2021 18:33:00 +0000 https://www.smlxtralarge.com/dfpi-reaches-agreement-to-terminate-high-yield-loans-that-loanmart-will-market-for-21-months/ Download this press release (PDF) The Los Angeles-based company agrees not to market or service title loans at interest rates higher than those under the California Fair Access to Credit Act. permissible SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) announced today that it will have less than $ 10,000 with Los […]]]>

Download this press release (PDF)

The Los Angeles-based company agrees not to market or service title loans at interest rates higher than those under the California Fair Access to Credit Act. permissible

SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) announced today that it will have less than $ 10,000 with Los Angeles-based Wheels Financial Group, Inc in California at rates greater than 36 percent for the next twenty-one months .

The agreement follows an investigation the department launched last year to determine whether the company circumvented California’s newly enacted interest rate caps by partnering with an out-of-state bank. LoanMart stopped marketing its high-yield loans in November 2020 while DFPI’s investigation of its partnership with Utah-based Capital Community Bank was pending.

“The DFPI is committed to ensuring that banks outside the state of California do not exploit,” said DFPI Commissioner Clothilde V. Hewlett. “The DFPI will continue to combat efforts to circumvent California’s Fair Access to Credit Act and will work closely with state and federal regulators to monitor and respond to practices that harm consumers.”

In 2019, California lawmakers passed the landmark Fair Access to Credit Act (AB 539), which capped interest rates on most government-licensed lender loans to around 36 percent. These interest rate caps came into effect on January 1, 2020. DFPI licenses and regulates lenders subject to the Fair Access to Credit Act and the California Financing Law, the law that provides the authority through which LoanMart previously made loans in California. The agreement stipulates that LoanMart may not provide loans through a state-approved banking partner until September 2023, unless there is an intervening change in law or regulation that would otherwise allow this.

In addition to regulating financial lenders and brokers, DFPI licenses and regulates financial products and services, including nationally recognized banks and credit unions, commodity and investment advisors, money brokers, the offering and sale of securities and franchises, broker-dealers, non-bank installment lenders, payday – Lenders, Mortgage Lenders and Service Providers, Student Loan Service Providers, Trust Companies, Property Assessed Clean Energy (PACE) Program Administrators, Collection Agencies, Rental Contractors, Credit Repair and Consumer Credit Bureaus, Debt Relief Firms, and more.

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Eagle County provides rent assistance for child care providers https://www.smlxtralarge.com/eagle-county-provides-rent-assistance-for-child-care-providers/ Sun, 12 Dec 2021 23:22:24 +0000 https://www.smlxtralarge.com/eagle-county-provides-rent-assistance-for-child-care-providers/ Eagle County implemented a new program to provide licensed early childhood providers with financial assistance for rent, mortgage and similar overhead costs in 2021. 500 children in Eagle County. “Safe, quality child care is a community investment in our working families and our local economy; However, the financial challenges of operating high quality centers with […]]]>


Eagle County implemented a new program to provide licensed early childhood providers with financial assistance for rent, mortgage and similar overhead costs in 2021. 500 children in Eagle County.

“Safe, quality child care is a community investment in our working families and our local economy; However, the financial challenges of operating high quality centers with trained staff are often overlooked, ”the county said in a recent press release. “Suppliers in Eagle County face unique operational challenges with rental costs ranging from $ 583 to over $ 8,000 per month.”

“Our early years service providers provide an essential service to families in our community and they carry a heavy load,” said Eagle County Commissioner Jeanne McQueeney. “Providers need to focus on the children in their care, not on the fact that they can keep the lights on every month. This program allows them to do just that and is essential for parents to work and for our economy to function. We are grateful to Early Childhood Partners for highlighting this critical need for our providers.



The new program offers suppliers in Eagle River Valley and Roaring Fork Valley up to $ 3,000 per center for monthly support. Eagle County plans to continue this effort in 2022.

“We are constantly analyzing how we can better support our early childhood service providers, and therefore better support families across Eagle County,” said Liz Costaldo, director of operations for Early Childhood Partners. “We found that for our providers who pay rent, there was an inequity compared to providers who don’t have rental fees because of other existing subsidies. Early childhood education is a crucial community service, and it makes sense for us to collaborate and partner with Eagle County to help child care providers as much as possible.



The program is part of Eagle County’s strong investment and dedication to early childhood education. Eagle County administers Early Years Service Provider Support Programs to incentivize and support dedicated child care providers. Financial programs have also been put in place to support daycares, educators and, ultimately, families during the COVID-19 crisis.

For more information contact Sam Markovitz, Early Years Coordinator at sam.markovitz@eaglecounty.us or at 970-401-0722.


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The Community Financial Corporation announces its authorization https://www.smlxtralarge.com/the-community-financial-corporation-announces-its-authorization/ Thu, 09 Dec 2021 21:08:38 +0000 https://www.smlxtralarge.com/the-community-financial-corporation-announces-its-authorization/ WALDORF, MD, December 9, 2021 (GLOBE NEWSWIRE) – The Community Financial Corporation (NASDAQ: TCFC) (the “Company”), the holding company of the Community Bank of the Chesapeake (the “Bank”), has reported that the The Board of Directors of the Company has authorized the Company to continue to purchase ordinary shares of the Company under the share […]]]>


WALDORF, MD, December 9, 2021 (GLOBE NEWSWIRE) – The Community Financial Corporation (NASDAQ: TCFC) (the “Company”), the holding company of the Community Bank of the Chesapeake (the “Bank”), has reported that the The Board of Directors of the Company has authorized the Company to continue to purchase ordinary shares of the Company under the share purchase plan initially authorized by the Board on October 20, 2020. After the decision of the Board of today, the Company will be able to repurchase the remaining 99,450 shares under the 2020 Share Buy-Back Plan using up to $ 4.0 million in total.

“We continue to focus on improving overall shareholder value through the execution of sound capital management strategies,” commented William J. Pasenelli, CEO of the Company and the Bank. “Originally, as part of the 2020 share repurchase plan, the board of directors authorized the company to repurchase up to 300,000 common shares of the company using up to $ 7 million from the proceeds from the subordinated debt offering that we completed in August 2020. As previously reported, in In August of this year, we completed the repurchase of 200,550 shares using this allocation of $ 7 million. We are very pleased to be able to continue with the repurchase of shares under the 2020 repurchase plan. While this authorization allows the Company to continue to execute the initial plan, the overall ability of the Company to repurchase shares. shares will be limited to $ 4 million in total and $ 1.5 million in total on a quarterly basis. As we did when announcing previous share buybacks, the Board believes that it is prudent for the Company to buy back shares as part of its buyback program, particularly in an environment in which we believe that the Company’s shares remain undervalued.

Repurchases may be made from time to time in the open market, during privately traded share purchases, or in accordance with any trading plan that may be adopted in accordance with Securities and Exchange Commission rule 10b5-1 and the laws. applicable federal securities. The share repurchase plan does not oblige the Company to acquire any particular amount of ordinary shares, and it may be amended or suspended at any time at the discretion of the Company. The Company’s buyback program will end on September 30, 2022 if all the shares authorized for buyback have not been purchased by that date.

About the Community Financial Corporation – Based in Waldorf, Md., Community Financial Corporation is the banking holding company for Community Bank of the Chesapeake, a full-service commercial bank with assets of approximately $ 2.3 billion. Through its branches and commercial lending centers, the Community Bank of the Chesapeake offers a wide range of financial products and services to individuals and businesses. The Company’s branches are located in its main office in Waldorf, Maryland, and its branches in Bryans Road, Dunkirk, Leonardtown, La Plata, Charlotte Hall, Prince Frederick, Lusby and California, Maryland; and downtown Fredericksburg, Virginia. You can find more information about the Community Bank of the Chesapeake at www.cbtc.com.

Forward-looking statements – This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements can generally be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe”, “expect”, “anticipate”, “estimate” and “intend” or future or conditional verbs such as “will fly”, “should”, “should”, “Could” or “could”. “Statements in this press release that are not strictly historical are forward-looking and are based on current expectations which may differ materially from actual results. These forward-looking statements include, without limitation, those relating to the future growth of the Company and of the Bank and the outlook or expectations of management in terms of income, assets, asset quality, profitability, business prospects, net interest margin, non-interest income, provision for loan losses, the level of credit losses resulting from loans, liquidity levels, capital levels or other strategies or expectations of future financial or business performance, and any statement of management’s plans and objectives for the products or future operating services, including expected benefits from, and / or the execution of integration plans relating to any acquisitions that we have undertaken or that no we will undertake in the future; plans and cost savings for branch closures or consolidation; projections related to certain financial measures; the expected benefits of the programs we are introducing, including residential mortgage programs and retail and commercial credit card programs; and any statement of expectation or belief, and any assumption underlying the foregoing. These forward-looking statements express management’s current expectations or forecasts regarding future events, results and conditions and, by their nature, are subject to and involve risks and uncertainties that could cause actual results to differ. substantially from those anticipated by the statements made here. Factors that could cause actual results to differ materially from those shown in these statements include, but are not limited to: risks, uncertainties and other factors relating to the COVID-19 pandemic (including the length of time as the pandemic continues, the ability of states and local governments to successfully implement the lifting of movement restrictions and the potential imposition of further movement and travel restrictions in the future, the effect of the pandemic on the general economy and on the businesses of our borrowers and their ability to make payments on their obligations; the corrective measures and stimulus measures adopted by federal, state and local governments, and the inability of employees to work due to illness, quarantine or government mandates); the synergies and other financial benefits expected from any acquisitions we have undertaken or may undertake in the future; may or may not be completed on schedule; changes in the strategy of the Company or the Bank, costs or difficulties related to integration issues could be greater than expected; the availability and costs associated with securing adequate and timely sources of liquidity; the ability to maintain credit quality; general economic trends; changes in interest rates; loss of deposits and request for loans from other financial institutions; substantial changes in financial markets; changes in real estate value and the real estate market; regulatory changes; the impact of government closures or sequestration; the possibility of unforeseen events affecting the industry in general; uncertainties associated with newly developed or acquired operations; the outcome of pending or imminent litigation, or matters referred to regulatory authorities, whether they currently exist or begin in the future; market disruptions and other effects of terrorist activities; and the matters described in “Point 1A Risk Factors” in the Company’s annual report on Form 10-K for the year ended December 31, 2020, and in its other reports filed with the Securities and Exchange Commission ( the “SEC”). The Company’s forward-looking statements may also be subject to other risks and uncertainties, including those which the Company may discuss elsewhere in this press release or in its documents filed with the SEC, available on the SEC’s website at the address www.sec.gov. The Company assumes no obligation to update these forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unforeseen events, except as required by SEC rules and regulations.

CONTACTS:

William J. Pasenelli, President and CEO
James M. Burke, President
888.745.2265


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