Financial

New program to study financial hardship, food poverty within the Armed Forces Community

The UK’s oldest national tri-service charity, in partnership with Northumbria University has today announced the launch of a programme of research into financial hardship and food poverty within the Armed Forces Community.

Over a two-year period, the Northern Hub for Veterans and Military Families Research and the Healthy Living Lab at Northumbria University will work closely with SSAFA and their volunteer network to collect and analyse a range of anonymized data from serving personnel, veterans and families from all three branches of the Armed Forces community.

The proposed data collection methods have been carefully designed to ensure minimal impact on beneficiaries during the initial steps they would normally go through to during SSAFA’s caseworking process. SSAFA supports the welfare needs of over 85,000 veterans, families and service personnel, with more than 41,000 cases and visits completed alone in 2019, in local communities

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iAnthus Reports Fiscal 2019 Financial Results and Provides Additional Business Updates

NEW YORK and TORONTO, July 31, 2020 /PRNewswire/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, reports its financial results for the year ended December 31, 2019. The Company’s Financial Statements for the year ended December 31, 2019 and the related Management’s Discussion & Analysis can be accessed on the Company’s SEDAR profile at www.sedar.com and on the Company’s website.

Additional Business Updates

Mutual Termination of Acquisition

The Company and WSCC, Inc. (“Sierra Well”) announce the mutual termination of the merger agreement previously announced on September 19, 2019. As a result of the prolonged timeline to achieve the necessary conditions to close combined with the adverse market conditions surrounding the industry and broader economy, the Company and Sierra Well agreed that it was in the best of interest

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Royalty Tax & Financial services helps minorities across America obtain business and home ownership through financial understanding

Ohio-based company is now accepting clients nationwide

July 30, 2020 – Cleveland, OH – Purchasing a home is one of the biggest steps a person will take in their lifetime. Although many minority Americans aim to own their own home, they are ultimately unable to purchase their dream house due to poor credit. Royalty Tax & financial services, a Cleveland-based company focused on repairing credit for clients from minority groups, aims to help individuals understand their credit and become financially literate. By gaining more knowledge on one’s credit, a person can achieve their dream of owning their own business or home.

Royalty Tax & financial services is now accepting clients across the United States. The company helps people take control of their finances thanks to its highly trained staff that help individuals manage their debt, tax issues and finances. All services provided to clients are specific to each situation and

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True Link taps $35M for financial services tailored for elderly, disabled and recovering consumers

A lot of tech is built on the premise of services that can target the widest or most lucrative pools of users (and they’re a blockbuster when they can do both). But that leaves out a number of consumers, who fall into the margins for all kinds of reasons, be they physical, age, financial or other circumstances. Today, a startup building financial services specifically aimed at three typically marginalised markets — elderly, disabled people and those who are recovering from addiction — is announcing some funding on the back of strong growth of its business, and plans to do more.

True Link Financial, which provides financial services — specifically, today in the form of prepaid Visa cards and investment management — aimed at the three demographics, is announcing that it has closed a Series B of $35 million, led by Khosla Ventures with strong participation from Centana Growth Partners, an

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Discover Financial Services: The Worst Is Yet to Come

Credit card lender Discover Financial Services (NYSE: DFS) reported its second-quarter results on Thursday, and they were ugly. Total revenue fell 7%, while net income swung from a $753 million profit a year ago to a $368 net loss. The company set aside a whopping $2 provision for loan loss, or a net $1.3 billion reserve build after accounting for $767 million in charge-offs last quarter.

Unfortunately, Discover increased its reserve even over the large build taken in the March quarter during the early days of the pandemic, admitting to a worsening outlook compared with three months ago. Management also forecast charge-offs increasing later this year and into 2021.

On the other hand, Discover’s balance sheet and customer base also seem in much better shape compared with the last financial crisis in 2008. And if the government comes through with another round of stimulus, things may not be turn out

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Banks join IBM’s financial services cloud as it doubles down on security, compliance

Dive Brief:

  • More banks are signing up for IBM’s financial services cloud collaboration with Bank of America, including French international banking group BNP Paribas, IBM announced Wednesday. MUFG Bank, the largest bank in Japan, is also exploring the financial services cloud deployment, though it’s not publicly stating its timeline, Hillery Hunter, VP, CTO of IBM Cloud, told CIO Dive. 

  • IBM is forming a Financial Services Cloud Advisory Council to advance its cloud policy framework tailored to the highly regulated sector. It’s led by Howard Boville, SVP, IBM Cloud, the former Bank of America CTO who joined IBM in May. Tony Kerrison, CTO of Bank of America, will also serve on the council. 

  • To implement the financial services cloud, IBM now has more than 30 partners operating as Independent Software Vendors, adhering to the security and risk requirements for financial services.

Dive Insight:

IBM has “several” clients beyond publicly

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A Look At Hartford Financial Services Group’s (NYSE:HIG) CEO Remuneration

Chris Swift has been the CEO of The Hartford Financial Services Group, Inc. (NYSE:HIG) since 2014, and this article will examine the executive’s compensation with respect to the overall performance of the company. This analysis will also look to assess whether the CEO is appropriately paid, considering recent earnings growth and investor returns for Hartford Financial Services Group.

See our latest analysis for Hartford Financial Services Group

How Does Total Compensation For Chris Swift Compare With Other Companies In The Industry?

At the time of writing, our data shows that The Hartford Financial Services Group, Inc. has a market capitalization of US$15b, and reported total annual CEO compensation of US$15m for the year to December 2019. That’s a modest increase of 4.9% on the prior year. We think total compensation is more important but our data shows that the CEO salary is lower, at US$1.2m.

On comparing similar companies in

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About 7% of auto and personal loans are in financial hardship programs

Correction: An earlier version of this story misstated the total amount of credit products currently in hardship programs. 

Just over 7% of auto and personal loans are in some type of financial hardship program as of June, while 6.79% of mortgages and 3.57% of credit card accounts are in some kind of payment relief. 

That’s according to TransUnion, which defines financial hardship plans as a deferred payment, forbearance program, frozen account or frozen past due payment. But despite the high numbers, the number of accounts going into these types of payment relief programs is starting to level off, says Matt Komos, vice president of research and consulting at TransUnion.

“This pandemic is really like nothing we’ve ever seen,” Komos says, especially in regard to the rate at which the economy changed and unemployment exploded. Because of the widespread uncertainty, some consumers may have signed up for hardship programs quickly, almost

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September 4th Options Now Available For Discover Financial Services

Investors in Discover Financial Services (Symbol: DFS) saw new options begin trading today, for the September 4th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DFS options chain for the new September 4th contracts and identified one put and one call contract of particular interest.

The put contract at the $49.00 strike price has a current bid of $1.65. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $49.00, but will also collect the premium, putting the cost basis of the shares at $47.35 (before broker commissions). To an investor already interested in purchasing shares of DFS, that could represent an attractive alternative to paying $51.13/share today.

Because the $49.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also

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Discover Financial Services Declares Its Next Dividend Ahead of Earnings Release

Discover Financial Services (NYSE:DFS) stock was on the rise Wednesday in the brief period between its latest dividend declaration and the release of its second-quarter results. Discover’s board of directors has declared a quarterly payout of $0.44 per share of the company’s common stock, which yields just under 3.5% at the current share price. This is to be handed out on Sept. 3 to shareholders of record as of Aug. 20.

That amount matches each of the last four distributions. Since mid-2013, the dividend has risen steadily, from $0.20 per share to the present level.

Man putting a card reading DIVIDENDS into his suit breast pocket.

Image source: Getty Images.

Discover is unique among its peers. Although it has a large payment card operation and is therefore part of the group that includes mighty Visa, Mastercard, and American Express, it also has a sizable online bank. 

That isn’t necessarily a comfortable blend at the moment, since banks are

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