Gov. Newsom signs insurance bill providing quicker payments for wildfire losses

Wildfire victims who lose their home and possessions will be able to recoup money for their expenses faster, thanks to legislation that makes property insurance benefits easier to collect.

Gov. Gavin Newsom signed Senate Bill 872 into law Thursday, providing a suite of insurance protections and streamlined claims processing to better respond to the recovery challenges residents face right after a disaster.

The law won’t take effect until next year. It got Newsom’s endorsement as Sonoma and Napa counties and numerous California communities confront property losses during two months of widespread fires that have burned 4 million acres statewide this year.

Sen. Bill Dodd, D-Napa, who co-authored the legislation, viewed it as part of the growing movement to address home insurance hurdles for disaster survivors after consecutive years of destructive wildfires in the North Bay, he said.

“None of these bills are a silver bullet, but all of them put

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Warning Signs of Personal Loan Scams

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Interest in personal loans is rising this year, industry experts say. 

Unfortunately, potential scams are rising too.

Amid record-breaking unemployment rates and a staggering economy, consumers are seeking personal loans for two primary purposes: to consolidate credit card debt or simply to get by, says Brian Walsh, CFP and senior manager of financial planning at SoFi, a national personal finance and lending company. 

“This is a way to help get them through until they get back to normal,” says Walsh.

Scammers have taken notice. In the first four months of 2020, the Federal Trade Commission (FTC) reported more than 18,000 accounts and more than $13.4 million

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US economy in recession but seeing ‘signs of life’: Fed’s Esther George

Kansas City Federal Reserve President Esther George says the U.S. economy is in a recession now, but we may not have a double-dip downturn.

“I think my forecast is the economy will continue to grow, given the right supports. And so that’s what I’m looking forward to,” she said in an interview with FOX Business.


George sees a rebound after a historic drop in GDP growth in the second quarter of an estimated 32.9%, as forecasted by the Bureau of Economic Analysis. She sees unemployment getting into high single digits by the end of the year after hitting 10.2% in July.


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