News 

Solving America’s financial-literacy crisis starts with teachers, not laws

“Tim Ranzetta is co-founder of Next Gen Personal Finance, a Palo Alto, Calif. based nonprofit that provides free personal finance curriculum and teacher professional development” writes Tim Ranzetta for marketwatch.com. In recent years, states have passed laws requiring schools to teach financial literacy, but we also need to develop more high school personal finance teachers.Kayla Bousum, who also has participated in and led personal finance education seminars, teaches a required personal finance course in Johnston High School in Johnston, Iowa.If there is one thing I’ve learned in trying to bring…

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News Oil 

Here’s how the natural gas and oil industry is changing communities across the US

“Here’s how the natural gas and oil industry is having a positive impact on communities across the country” writes unknown author for businessinsider.com. This type of success story, an American achieving financial success because of the natural gas and oil industry, is not uncommon.These are just some of the many communities that are benefiting from the natural gas and oil industry.Thanks to new drilling techniques, like hydraulic fracturing, the US is the No. 1 natural gas and oil producer in the world.Now, Red Wing Shoes provides shoes to natural gas…

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The U.S. Natural Gas Boom Is Fueling A Global Plastics Boom

“I can’t underestimate the importance of the American shale gas and the feedstock costs for INEOS,” Ross says” writes Reid Frazier for npr.org. In Scotland, INEOS got over $350 million in loan guarantees from the U.K. to retrofit the Grangemouth plant for American shale gas.”It is driving investment decisions into Grangemouth which wouldn’t have been made if it wasn’t for the availability of the shale gas.”.  Source: npr.org

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Sandy Hook ruling, Tacoma gun tax are rays of hope in America’s gun epidemic | Editorial

“The Seattle tax, instituted in 2015, was itself modeled after a Chicago tax, and withstood a court challenge from the NRA and other gun advocates with an 8-1 state Supreme Court decision” reports seattletimes.com. Two new developments offer promising strategies for addressing the nation’s epidemic of gun violence. Source: seattletimes.com

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News Platforms 

Bank of America’s mortgage tech bets have helped save billions and spark a boom in home lending. here’s how it’s outpacing JPMorgan and Wells Fargo.

“Online lender Ally this spring offloaded its mortgage platform to Better.com while also upping its stake in the startup” writes Alex Morrell for businessinsider.com. And while digital mortgage adoption is surging, the majority of customers are still doing it the old-fashioned way.Before rate cuts were on anyone’s radar, it devoted a chunk of its huge tech budget overhauling its digital mortgage platforms, both internal and external.Residential mortgage origination volumes at Bank of America nearly doubled in the third quarter, from $10.7 billion in 2018 to $20.6 billion.Business Insider talked to…

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News 

Inflation inequality deepens wage losses for America’s poorest

“The sharp rise in U.S. income inequality has spawned yet another gap that is putting even more pressure on the poorest Americans” writes Pedro Nicolaci Da for marketwatch.com. He finds that annual inflation rates for those at the bottom of the income distribution are substantially higher than for those at the top of the income distribution, effectively increasing income inequality.The average middle-income household lost about $1,250 of purchasing power through 2018 to higher prices attributable to inflation inequality, according to the findings. “Inflation inequality significantly accentuates both the incidence of…

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Here are 3 reasons why America’s future ‘belongs to the left’

“Without the subversion of democracy, the US appears destined to drift towards the left for a host of economic, demographic, and cultural reasons,” he wrote in a report on October 31″ writes Finanzen Net Gmbh for businessinsider.com. “While all versions of left-wing populism are consistent with big government in the economic sphere, on the right, only authoritarianism is,” Licht says. Source: businessinsider.com

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Americans Hooked on Debt With 100% Rates…

“In just a span of five years, online installment loans have gone from being a relatively niche offering to a red-hot industry” writes Adam Tempkin for yahoo.com. Non-prime borrowers now collectively owe about $50 billion on installment products, according to credit reporting firm TransUnion.Subprime installment loans are now being bundled into securities for sale to bond investors, providing issuers an even lower cost of capital and expanded investor base.The surging popularity of online installment loans, combined with a growing ability to tap into big data to better screen customers, has…

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News 

When a ‘trusted’ financial professional targets the assets of America’s elderly

“He sued both Pantaleoni and National Western in late 2017 for elder financial abuse, negligence and breach of fiduciary duty” writes Nick Leiber for latimes.com. In April, a jury found National Western and Pantaleoni liable of elder financial abuse and negligence, and found Pantaleoni liable for fraud.Increasingly, it’s the professionals — the lawyers, insurers and financial advisors that the elderly trust — who are the wolves in sheep’s clothing. Source: latimes.com

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