Brazilian bank Itaú Unibanco will roll out facial biometrics to fend off fraud in auto loan processes and improve customer experience.As well as avoiding scams, the tool being introduced this month across over 10,000 locations is aimed at ensuring a smooth process when it comes to approving and releasing credit for customers who want to buy new and used cars.Vehicle financing applications to the Brazilian bank that initiate at dealerships and partner stores are carried out in a platform provided by Itaú platform. Customers then provide their information and documentation so that the request can be sent over to the bank. A glimpse into the future of money: Spain's banking revolution shows what's next for your cash In Spain, where smartphone use is the norm and peer-to-peer lending is taking off, banks' shift from payment processors to financial services advisors is particularly noticeable. Read More With the new technology, customers will be contacted automatically via … [Read more...] about Brazil’s Itaú rolls out facial biometrics to tackle auto loan fraud
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The terms and conditions of qualifying for student loan forgiveness can be confusing. Just take these stats: As of summer 2018, only 289 of nearly 29,000 people who applied for Public Service Loan Forgiveness were approved. That’s a 99 percent rejection rate. Clearly, it’s not an easy approval process. Which gets to this email question from Shelby, a Two Cents reader: My dad took out a significant amount of money for both my brother and I back in 2008-2010 and due to the recession, I don’t think he’s made much, if any, progress paying them back. Despite friends/financial advisors back at my school reassuring me they were his loans, I’m still terrified the debt will fall on me one day. Wondering if there is any chance this debt will be mine one day and if you’ve heard of any Parent PLUS forgiveness or support options I could get on my dad’s radar that aren’t a scam. This advice is tailored to Shelby’s situation, but it may … [Read more...] about The Basics of Parent PLUS Loan Forgiveness
To spur record sales over the last few years, automakers and dealers have turned to everything from super loose credit to subprime buyers to zero-percent financing. The former is disappearing from the new car market, and now the latter is also going by the wayside, too, according to Bloomberg. Interest rates on new car loans were expected to rise following decisions this year by the Federal Reserve, and now we’re apparently starting to see the after-effects of that. The average interest rate for a new loan inched higher to 5.7 percent, reports Bloomberg, and zero-percent offers fell to 7.4 percent of auto loans last month. That’s a big drop from a year ago, when no-interest deals comprised 11 percent of auto loans. Here’s more from Bloomberg: “Nobody wants to be the first one to go from zero to 0.9 percent, or from 0.9 percent to 1.9 percent, but you’re going to see zero no longer be the norm,” Jim Lentz, the chief executive officer of Toyota … [Read more...] about Say Farewell To Zero Percent Auto Loans Because They’re Disappearing Fast
Throughout his presidential campaign, Donald Trump dismissed Syrian refugees fleeing horrific violence as a “Trojan horse.” As president, Trump’s administration has been treating political refugees from around the world with the same casual cruelty. As the Daily Beast reported on Thursday, agents at the U.S. Customs and Immigration Services have been working to make it as difficult as possible for people fleeing persecution to find safe harbor here. Part of the new “extreme vetting” policies pushed by Trump includes scheduling interviews first for those who applied for asylum most recently, ensuring that they are the least prepared for their critical interview with USCIS officials. According to the site (emphasis mine): The asylum process was never easy. But lawyers said the Trump administration appears to have made it harder than ever for people to get asylum. Most of the attorneys who spoke with The Daily Beast said they thought the changes were a move … [Read more...] about The Sadistic Process of Applying for Asylum in the U.S.
Sen. Chuck Grassley (R-IA) is not only a curmudgeonly old man and the chairman of the Senat Judiciary Committee, but he’s also an asshole. The distinction needs to be made. One can be crotchety and harmless. Grassley, however, is a crotchety, rich, powerful, asshole. He’s literally the walking embodiment of Mr. Burns or Scrooge McDuck. Turns out that old Grassley had a reason to push so hard for the President Trump’s $12 billion bailout for U.S. farmers to help smooth over the rough parts created during the president’s insane trade war. That’s because Grassley, the millionaire senator who happens to own a 750-acre farm in Iowa, wants a farm handout too. And he’s not alone, according to The Washington Post, Sen. Jon Tester (D-Mont.) is applying for payments as well, because, hey, free money. Grassley issued a statement shortly after the trade war with China noting that the Trump administration had a “responsibility to help” farmers, and by … [Read more...] about Millionaire Sens. Chuck Grassley and Jon Tester are Applying For Wypipo Welfare