From NewsBreak:
Early Wage Access (EWA) app Gusto offers employees at participating companies an opportunity to get an advance on expected pay. The service allows employees to request up to 40% of their expected pay days ahead of actual payday, with the loan being repaid when the employee’s payroll check is deposited.
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From NewsBreak:
The attorney general’s office said Americans were on track to get about 86 billion automated text messages this year, already having received 71 billion as a nation.
Any interaction with this type of text will show the scammer that the phone number is active, making the targeted user vulnerable to further messages. Consumers should be wary of opening or clicking links in unrecognized texts.”
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From Tennessee Education Report:
WPLN reports that Gov. Bill Lee’s administration will announce its proposed changes to the state’s school funding formula (BEP) in mid-January.
The Tennessee Department of Education plans to release details of its policy recommendations in mid-January.
Education Commissioner Penny Schwinn laid out the timetable in a meeting with legislators on Tuesday. She says the new approach will make it easier to see how much education costs for each student.
While there has been much discussion on changing the formula, there has (so far) been little mention among key education leaders about increasing the overall amount of money dedicated to schools.
This comes in spite of the state falling $1.7 billion short of adequately funding schools, according to a report by a bipartisan commission.
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From Tennessee Education Report:
Chalkbeat reports that a case against Gov. Bill Lee’s school voucher scheme will receive another hearing before the Tennessee Supreme Court as that body attempts to assess the constitutionality of the program.
The Tennessee Supreme Court will rehear arguments in the case of educational savings accounts, also known as vouchers. The court’s announcement on Tuesday comes in the wake of the death of Justice Cornelia Clark who was on the bench in June to hear the arguments, but died of cancer in September before the court was able to issue a ruling.
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From NewsBreak:
Adam Hardy writes in Money.com that a number of cash-advance apps are suggesting they offer a viable alternative to payday loans but may instead offer a similar product in a more tech-friendly package.
Hardy reviews the policies and practices of apps such as Dave, Earnin, and Brigit and finds that:
“. . .consumer experts warn their fees are just as bad as — if not worse than — traditional payday loan APRs, with rates that can easily top 300%. And, they say, the apps can actually trigger overdraft fees.”
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In an interview today, Gov. Bill Lee said he'd support allowing guns on planes - letting airlines decide, that is.
Here's more and a video clip.
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From NewsBreak:
“Buy now, pay later is the new version of the old layaway plan, but with modern, faster twists where the consumer gets the product immediately but gets the debt immediately too,” said CFPB Director Rohit Chopra. “We have ordered Affirm, Afterpay, Klarna, PayPal, and Zip to submit information so that we can report to the public about industry practices and risks.”
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From NewsBreak:
Last week, Gov. Bill announced a 37% salary increase for new correctional officers hired by the Tennessee Department of Correction (TDOC). The move makes the starting salary for a Tennessee correctional officer $44,500.
The stated rationale for the significant pay boost is a growing shortage of applicants for corrections officer jobs.
In announcing the move, Lee said:
“As we face staffing shortages across the country, rewarding officers with competitive pay will ensure we recruit and retain the most highly qualified individuals in our workforce,” said Gov. Lee. “These Tennesseans play a crucial role in ensuring public safety and we remain committed to valuing their important work.”
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Elizabeth Craighead has been announced as the Lead Teacher for Liberty Creek Middle School, the school's Twitter feed announced:
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WSMV has the story:
A woman was arrested on Friday for taking a handgun on a school campus, Hendersonville Police said on Friday.
Hendersonville Police were called just before 10:30 a.m. by the Sumner County Sheriff’s Office to respond to Lakeside Park Elementary after getting reports of a woman wearing a ballistic vest outside of the school.
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From NewsBreak:
A group of Tennessee parents and pastors held a media event today to draw attention to President Joe Biden’s Build Back Better plan and to urge Senators Marsha Blackburn and Bill Hagerty to support the measure.
Rev. Dr. Kevin Riggs, Pastor of Franklin Community Church said:
“Right now we can see that the current lack of childcare access and affordability across the state is unsustainable, not only for families, but for our economy. We are not valuing children, families and mothers the way we should. And the family focused policy and this bill would move us closer to our values and ideals as Tennesseans. By investing in all children across this state and the nation, we would be moving us closer to that reality.”
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While it might not seem like it, Consumer Reports says robocalls are on the decline;
4-point-1 billion were placed in October 2021. But a recent deadline imposed by the Traced Act requires carriers to certify that they’re using something called Shaken/Stir technology.
Nearly 7,000 carriers have complied so far. Shaken/Stir is designed to help identify spoofed calls that use a fake number to trick you into answering your phone. Those calls are labeled a risk or blocked altogether. The service is free, and there’s nothing you need to do to take advantage of it. But there are even more steps you can take to get as few robocalls as possible.
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From NewsBreak:
“While the emergence of BNPL as affordable small-dollar credit has potentially provided an alternative to more costly forms of credit, these products also have the potential to cause consumer harm. Many BNPL providers structure these products in an effort to avoid certain consumer protection obligations under the Truth in Lending Act or the Military Lending Act, which generally apply to loans that are repayable in more than four installments or are subject to a finance charge. BNPL products generally do not receive all of the protections credit cards have, including those governing ability-to-repay, monthly statements, reasonable and proportional penalty fees, and the ability to raise merchant-related disputes.
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From Age of Awareness:
SCORE (Statewide Collaborative on Reforming Education) — a group formed by Bill Frist to influence education policy in Tennessee — held its annual “state of education” event. At the event, SCORE highlighted priorities for 2022.
The document contains an interesting analysis of reasons why the current school funding formula falls short. And, while the document notes that Tennessee schools don’t have enough teachers, nurses, or support staff, SCORE stops short of making an outright call for dramatically improved school funding.
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The Portland Sun has the story.
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From Newsbreak:
Advocates at the National Consumer Law Center (NCLC) released a policy brief on rental debt today and subsequently called on the Consumer Financial Protection Bureau (CFPB) to protect renters in light of the challenges presented by the COVID-19 pandemic.
“Renters have been especially hard hit by the COVID-19 pandemic, and the Bureau should do everything in its power to protect their ability to obtain decent and affordable housing,” said Ariel Nelson, staff attorney at the National Consumer Law Center.
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The Sumner County School Board has set graduation dates for the Class of 2022.
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A NewsBreak story on efforts to prevent another financial crisis by warding off bank consolidation:
Following an announcement from the Consumer Financial Protection Bureau (CFPB) and Federal Deposit Insurance Corporation (FDIC) that the bank regulators are taking action to review the current bank merger process, consumer advocates at the Woodstock Institute highlighted the potential benefits of this action.
Woodstock Institute joins other consumer groups, including Americans for Financial Reform (AFR) in welcoming a comprehensive review of current bank merger practices.
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From NewsBreak:
Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and FDIC Chair Martin Gruenberg yesterday issued a joint statement on the need for additional scrutiny of bank mergers. The effort is designed to prevent banking monopolies and the consolidation of banks that leads to “too big to fail” entities.
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From NewsBreak:
At a speech to the Consumer Federation of America this week, acting Comptroller of the Treasury Michael Hsu outlined some key reforms his agency sees as necessary when it comes to banking — particularly around overdraft fees.
The speech comes as Capital One announced an end to the practice of collecting overdraft fees. Additionally, as American Banker reports, JPMorgan Chase is making some key changes to its overdraft fee policies.
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Tennessee Education Report notes:
Nashville’s NewsChannel5 is reporting that more than 1 in 5 Tennessee teachers want to leave the profession. The teachers in a survey conducted by Professional Educators of Tennessee (PET) indicated that low morale caused by low pay and lack of support is driving the exodus from the profession. The story notes that while teachers are leaving the field, there is a serious shortage of new teachers waiting to replace them.
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Congressman John Rose, who represents Sumner County in the U.S. House of Representatives, may soon have an opportunity to vote for legislation that would protect consumers from abusive bank overdraft fees.
A story in NewsBreak explains:
With Capital One announcing an end to overdraft fees and consumer groups putting pressure on other banks and the Consumer Financial Protection Bureau (CFPB) to take action to end the practice, pressure is mounting for major changes in a key source of bank revenue.
Now, Rep. Carolyn Maloney of New York has introduced the Overdraft Protection Act to protect consumers from the most abusive of overdraft fee practices.
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The Hendersonville Standard reports:
Despite nearly two hours of debate on Nov. 30, a final vote on new ward boundaries for a redistricting plan the city of Hendersonville is required to implement yielded the same results as an initial vote three weeks earlier.
During the special-called Board of Mayor and Aldermen meeting, board members voted 7 to 5 to implement a redistricting plan recommended by a special Citizen Redistricting Committee appointed by the board in September. The board voted 7 to 6 on the same plan on Nov. 9.
State and federal law requires city, state and county governments to redraw voting districts every 10 years following the U.S. Census to assure equal representation for voters. The city of Hendersonville is currently divided into six wards represented by two aldermen each.
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Yes, yes they can - here's more on a new rule that allows debt collectors to reach out to consumers via social media channels:
Who is that sliding into your DMs? It could be a debt collector, thanks to a rule implemented by the Consumer Financial Protection Bureau (CFPB) that went into effect this month. The rule was codified during the tenure of Trump Administration CFPB Director Kathy Kraninger.
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From the Portland Sun:
The Battle of the Bots was held at Portland East Middle School (PEMS) on Nov. 13.
The competition was part of the VEX IQ Challenge. Students build robots from VEX IQ kits and compete with other teams to earn points to advance to higher levels of competition. This year nine schools competed involving around 100 students.
Schools can also order parts and build their own robots rather than using kits. PEMS uses parts to build their robots. The school has nine teams with 23 participants.
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While Congressman John Rose, who represents Sumner County in the U.S. House of Representatives, voted against President Biden's Build Back Better plan, some Tennessee activists are pushing Senators Marsha Blackburn and Bill Hagerty to support the measure.
Here's more:
A Tennessee pastor affiliated with the Southern Christian Coalition is calling on his state’s federal legislative delegation to vote in favor of President Biden’s “Build Back Better” plan because the plan will result in lower prescription drug prices.
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As one major bank — Capital One — announced an end to the practice of charging overdraft fees, a leading consumer group is issuing a call for federal action to end the practice at all banks.
Americans for Financial Reform (AFR)is calling on the Consumer Financial Protection Bureau (CFPB) to use data from a study it conducted to draft rules that would essentially prohibit overdraft fees.
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Nashville Organized for Action and Hope (NOAH) will be hosting a school funding town hall on Monday, December 6th at 5:30 PM at Jefferson Street Missionary Baptist Church.
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Advocates at Consumer Federation of America (CFA) are calling on banks across the nation — especially the biggest banks with the greatest reach — to end the practice of charging fees for overdrafts. The push from CFA comes a day after Capital One announced it will stop charging the fees.
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