Sun National Bank Center Thu, 22 Jul 2021 01:06:37 +0000 en-US hourly 1 Sun National Bank Center 32 32 NJ Judges to Examine Insurer Arbitration Battle with Condo Thu, 22 Jul 2021 00:01:00 +0000
Law360 (July 21, 2021, 8:01 p.m. EDT) – The New Jersey Supreme Court has agreed to consider an appeals court’s reinstatement of a condominium corporation lawsuit seeking a judgment of 1.73 million dollars from Kinsale Insurance Co. on construction defects of its policyholder.

The state’s high court on Tuesday granted Kinsale’s petition for consideration. In March, the New Jersey Superior Court Appeal Division overturned a lower court dismissal of the Crystal Point Condominium Association’s lawsuit against Kinsale.

Crystal Point is a non-profit organization that operates a 42-story condominium building in Jersey City. According to court records, the association’s expertise revealed construction defects on the balconies of the building.

In 2015, the association …

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Events Across the United States to Help Families Get COVID Stimulus and Child Tax Credit Payments Wed, 21 Jul 2021 21:56:07 +0000


WASHINGTON – The Internal Revenue Service and partners from nonprofits, churches, community groups and more will host additional events in several cities this weekend to help eligible families sign up for monthly payments the withholding tax credit for children (AdvCTC).

The July 23-24, 2021 special events will be hosted by the IRS and partner groups to help people file tax returns and register for advance payments. The events will take place in Birmingham, Alabama; Bronx, New York; Charlotte, North Carolina; Chicago, Illinois; Cleveland, Ohio; Dallas, Texas; Indianapolis, Indiana; Memphis, Tennessee; Minneapolis / St. Paul, Minnesota; Newark, New Jersey; New Haven, Connecticut; Oklahoma City, Oklahoma; Paterson, New Jersey; Riverside, California; Seattle, Washington; and Tampa, Florida.

With the help of a new registration tool for non-filers on the IRS website, IRS volunteers and staff will help eligible individuals and families obtain these important tax credits. and benefits. This tool, an update to last year’s IRS Non-Filers tool, is also designed to help individuals enroll in the third round of $ 1,400 Economic Impact Payments (also known as stimulus checks. ) and claim the Recovery Reimbursement Credit for any amount of the first two cycles of Economic Impact Payments that they may have missed. Individuals do not need to have children to attend these events and register for Economic Impact Payments.

This is part of a larger effort underway at the IRS to reach people eligible for payments and other credits. The IRS also continues to work with partner groups across the country, both inside and outside the tax community, to share information and raise awareness. These activities and events are in addition to this special weekend of activities.

This is part of a larger effort to raise awareness of the expanded child tax credit. The IRS also encourages its partners to use the online tools and toolkits available to help non-filers, low-income families, and other underserved groups register to receive AdvCTC. People can check their eligibility for advance payments using the new Child Advance Tax Credit Eligibility Wizard.

For this weekend’s events, people are encouraged to have the following information available when attending any of these events: (1) social security numbers for their children, (2) social security numbers, or tax identification numbers for themselves and their spouse, (3) a reliable mailing address, (4) an email address, and (5) their bank details if they wish to receive their payment by direct deposit.

Some tax credits, such as the Child Tax Credit (CTC), are “refundable,” meaning that even though taxpayers don’t owe income tax, the IRS will refund them if they are eligible; but they must file a tax return or register with the new non-filer registration tool to receive it. Some people who have not yet filed a tax return for 2020 are also eligible for Economic Impact Payments of $ 1,400 per person and the clawback refund credit.

The first monthly payments of the extended and newly advanced US bailout CTC were made on July 15 and will be sent monthly until December 15. Most families have started receiving monthly payments without any further action. Eligible families will receive a payment of up to $ 300 per month for each child under 6, and up to $ 250 per month for each child aged 6 to 17.

People who are required to file a 2020 federal income tax return, but cannot attend one of these events, may be able to prepare and report their own federal income tax online using the file. IRS free if their income is $ 72,000 or less.

People who do not need to file a federal income tax return for 2020 can also use the non-filer registration tool to register to receive advance payments from the CTC, the third payment cycle. economic impact and recovery reimbursement credit.

The IRS encourages people to request direct deposit payments, which is faster and more secure than other payment methods. People who do not have a bank account should visit the Federal Deposit Insurance Corporation website for details on opening an account online. They can also use the FDIC’s BankFind tool to locate an FDIC insured bank.

Finally, BankOn, American Bankers Association, Independent Community Bankers of America, and National Credit Union Administration have lists of banks and credit unions that can open an account online. Veterans can view the Banking Veterans Benefit Program for Financial Services at participating banks.

About the Child Tax Credit Advance

The expanded and newly advanced child tax credit was authorized by the American Rescue Plan Act, enacted in March. Normally, the IRS will calculate the payment based on a family’s 2020 income tax return, including those using the non-filer registration tool. If this return is not available because it has not yet been filed or is still being processed, the IRS will instead determine the initial payment amounts using the 2019 return or the information entered at using the Non-declarants tool which was available in 2020.

To ensure families have easy access to their money, the IRS makes these payments by direct deposit, provided correct banking information has already been provided to the IRS. Otherwise, people would have to watch their mail for payment by mail.

To learn more about CTC advance payments, visit or see the 2021 Child Tax Credit and Child Tax Credit Advance Payments FAQ.

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Pros, cons and who should create an account Wed, 21 Jul 2021 21:16:08 +0000

Personal Finance Insider writes about products, strategies, and tips to help you make informed decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective.

  • BlockFi is a global platform offering interest accounts, crypto-backed loans, and crypto transactions.
  • It has no minimum requirements or trading fees, although small propagation fees may apply.
  • BlockFi loans are available to both individual merchants and institutional clients.
  • Click here to create an account with BlockFi.

Is BlockFi Right For You?

Founded in 2017 by Zac Prince and Flori Marquez, BlockFi claims it was started with a mission to deliver credit and banking services to markets that had little access to savings accounts and similar products.

This has led to its offering of crypto interest accounts, crypto-backed loans, and other crypto asset services. Moreover, the crypto platform also provides a wide selection of crypto trading services for institutions and individuals.

Read on to learn more about BlockFi’s crypto products.

You can download the BlockFi app from ios and Android devices.

Not sure if BlockFi is right for you? Read on to see how it compares to other crypto platforms.

How does BlockFi compare?

BlockFi, Coinbase, and Abra all offer several crypto services for individual and institutional clients. The three differ mainly when it comes to fees, account offerings, and cryptocurrencies.

For example, Coinbase and Abra have higher minimum requirements ($ 2 and $ 5, respectively), but both give you access to a larger selection of crypto assets. Coinbase offers over 50 crypto assets and Abra offers over 100.

However, BlockFi and Abra do share some similarities when it comes to fees and account types. Both have lower crypto transaction fees, and both offer crypto-backed loans that allow you to use your assets as collateral.

Read on to see if BlockFi is right for you.

Ways to invest with BlockFi

Cryptocurrency trading

You don’t need to meet a minimum account size to start trading crypto assets on BlockFi. Additionally, trading is generally free of charge (except for a small spread on trades).

BlockFi’s cryptocurrency selection includes bitcoin, ethereum, litecoin, and pax gold. It also offers several stable coins, including the US dollar stablecoin (USDC), tether (USDT), gemini dollar (GUSD), and standard paxos (PAX).

While its trading services are best for stand-alone or convenient traders, you can also use its recurring trades feature to automate your crypto trades on a schedule you choose. Learn more here.

BlockFi is also introducing a rewards credit card that allows investors to earn 1.5% bitcoin cashback on purchases. You can join the waiting list here.

Interest accounts

You can earn up to 7.5% interest just by storing certain crypto assets with BlockFi. The account pays you monthly compound interest and BlockFi distributes those payments on the first business day of each month.

Note, however, that the APY you receive depends on both the cryptocurrency and the size of your account balance in that particular asset. This is because BlockFi uses a tiered fee structure. For example, check out the following bitcoin and ethereum rates:

  • Bitcoin level 1: 4% APY for 0 – 0.25 bitcoin balance
  • Bitcoin level 2: 1.5% APY for 0.25 – 5 bitcoin balance
  • Bitcoin level 3: 0.25% APY for> 5 bitcoin balance
  • Ethereum level 1: 4% APY for 0 – 5 ethereum balance
  • Ethereum level 2: 1.5% APY for 5 – 50 ethereum balance
  • Ethereum level 3: 0.25% APY for> 50 ethereum balance

You will also have to pay withdrawal fee from your interest account. You can find more information about BlockFi’s interest rates here.

Cryptocurrency-backed loans

If you were to encounter a personal emergency where you needed cash, you might consider selling some of your crypto assets. However, BlockFi’s cryptocurrency backed loans allow you to borrow against your cryptocurrencies without selling them.

Interest rates are as low as 4.5%, and the loans include three notable advantages:

  • Same day financing: BlockFi Says It Fund You The Same Day You Sign Up For The Loan And Offers A Crypto Guarantee
  • Prepayment without penalty: This means that you can pay off your loan as soon as you want without any penalties.
  • Flexibility: You can borrow up to 50% of the value of your assets, with the option to invest in other cryptocurrencies

Here’s how it works: you give BlockFi your crypto assets as collateral (acceptable assets include bitcoin, ethereum, and litecoin), and they give you a loan in USD, Gemini Dollar (GUSD) Stablecoin, or US Dollar. (USDC). Learn more here.

Institutional trading

BlockFi offers several services for investment funds, market makers, corporations and other institutional clients. These include financing (cryptocurrency loans, stablecoins, and US dollars), over-the-counter (OTC) trading with 24/7 support, corporate treasury solutions, and corporate investments. confidence in bitcoin, ethereum and litecoin.

You can use these services through the BlockFi Prime institutional trading platform. Learn more here.

Is BlockFi trustworthy?

BlockFi currently has an F rating with the Better Business Bureau. BBB ratings range from A + to F, so this is the lowest rating a business can receive when it comes to customer reliability.

In addition to noting how long BlockFi has been in operation, the bureau cites a few reasons for its rating. On the one hand, BlockFi received three complaints, and BlockFi also did not respond to the three complaints filed against them. Other factors the BBB frequently reports on include type of business, history of customer complaints, government actions, and advertising issues.

The New Jersey Bureau of Securities also recently issued a cease and desist order which prevents BlockFi from offering its interest-bearing crypto accounts to new customers. The ordinance claims that crypto securities offered for BlockFi’s interest accounts are not registered with the bureau.

BlockFi has filed two complaints in the past 12 months, according to the BBB.

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NJ Regulators Give BlockFi 1 Week Before Blocking New Interest Accounts Wed, 21 Jul 2021 19:31:20 +0000

New Jersey regulators give crypto lender BlockFi an extra week before its ban on setting up new interest-bearing accounts takes effect, CEO Zac Prince said tweeted Wednesday.

Prince said the New Jersey Securities Office (NJ BOS) “postponed the effective date” of Tuesday’s surprise order to stop the sale of BlockFi interest accounts until July 29 . Originally, the order was to strike on July 22.

NJ BOS Claims BlockFi Interest Accounts Are Unregistered Titles; BlockFi claims not.

Related: SEC Chairman Hints Some Stablecoins Are Securities

The extra week gives BlockFi time to navigate the ramifications of the regulator order. Having said that, it could be a big blow to the crypto lender. NJ BOS said BlockFi holds $ 14.7 billion in assets through its BIA product. (The amount held by New Jersey consumers is unclear.)

The Prince of BlockFi has repeatedly stated that the cease and desist will not affect existing BlockFi customers, a claim the NJ BOS order appears to echo.

However, it is less clear to what extent this could impact new BlockFi customers and if its impact could extend beyond New Jersey.

BlockFi declined to comment further. NJ BOS did not immediately comment.

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Things are falling apart – POLITICO Wed, 21 Jul 2021 12:00:07 +0000

Editor’s Note: Morning Money is a free version of the POLITICO Pro Financial Services morning newsletter, which is sent to our subscribers each morning at 6 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the biggest of the day. stories. Take action on the news with POLITICO Pro.

Things are falling apart – We generally try to stay optimistic at Morning Money. But it is increasingly difficult to cope with the global environmental catastrophe which is only getting worse. First, devastating floods in western Germany and parts of Belgium. This morning brings news of biblical flooding in China unlike anything seen in 1,000 years.

Via Reuters: Vast swathes of central China’s Henan Province were underwater on Wednesday, with at least a dozen dead in its capital Zhengzhou after the city was inundated by what weather observers called the heaviest rain for 1,000 years.

“With more rains expected in Henan for the next three days, the government of Zhengzhou, a city of more than 12 million people on the banks of the Yellow River, said 12 people are believed to have died in a flooded subway line. , while more than 500 have been taken to safety. “

This follows the floods in New York which also flooded the subways. And the condo collapse in Florida. And absurd record temperatures slamming the Pacific Northwest. Wall Street rebounded Tuesday after the fall of its Delta variant. But the very rapid escalation of climatic disasters is jeopardizing all recent market gains.

Maybe it wasn’t Delta? – Emails from David Bahnsen of the Bahnsen Group on the market downturn: “I just don’t believe the root cause of [Monday’s] the liquidation can be attributed to Delta. While 9 more people in intensive care in Los Angeles County, that’s nine more than I would like to see, it’s not systemic, it won’t become systemic, and the market doesn’t have a only time since June 2020 responded to the COVID news cycle.

“The unwinding of reflation trade (bond shorts get ripped off and equity positioning too exposed to the commodities / materials / inflation game) is the most logical explanation for risk aversion. Monday. If fears of an economic squeeze from Delta came, it looks to me like the market would be lower than it was three weeks ago when Delta started.

GOOD WEDNESDAY MORNING – Kudos to Giannis and the Bucks on a dazzling NBA title win and silencing all the talking heads that called him with the Suns 2-0. Email me on [email protected] and follow me on Twitter @morningmoneyben. Email Aubree Eliza Weaver on [email protected] and follow her on Twitter @AubreeEWeaver.

President Biden travels to Cincinnati for an event at 5:40 p.m. to tout his infrastructure and broader spending plans and to participate in a CNN town hall at 8:00 p.m. …

The Chamber’s financial services sub-committees hold hearings at 10:00 am on “Banking the Unbanked: Exploring Private and Public Efforts to Expand Access to the Financial System” and at 2:00 pm on bond rating agencies…

BIDEN SUPPORTS A TRUSTED BUSTER – Nos Leah Nylen and Emily Birnbaum: “It took seven months, but the progressives got exactly what they were asking for: Wu & Khan & Kanter. … Biden said … he chose Jonathan Kanter to serve as the Justice Department’s deputy attorney general for antitrust laws, the latest piece of the trio Progressives have championed to re-energize antitrust law enforcement after alleged failures of the Obama years.

“In March, Biden installed Tim Wu in the White House, a move that sparked cautious optimism among anti-monopoly supporters that Biden, long seen as a centrist in Delaware, a business-friendly country, could take the issue of. corporate power more seriously than its Democratic predecessor. They were further encouraged by Lina Khan’s appointment to the Federal Trade Commission in March. ”

NEW JERSEY BLOCKS CRYPTO OPERATOR – Our Kellie Mejdrich: “New Jersey restricts operations of crypto financial service provider BlockFi, with state officials alleging the company was offering unregulated interest-bearing accounts.

The New Jersey Bureau of Securities issued a cease and desist order requiring BlockFi to stop offering the accounts, which it said amounted to unregistered securities that raised at least $ 14.7 billion in the world. … The dispute is the latest example of friction between government regulators and cryptocurrency startups as federal and state officials craft rules for digital finance.

STOCKS REBOUND ONE DAY AFTER DELTA FEARS RIDE – NYT’s Eshe Nelson and Coral Murphy Marcos: “Stocks rebounded on Tuesday, rebounding from the worst day on Wall Street in months in a dramatic swing highlighting an investor divide over the Delta variant’s threat to growth global.

“The acceleration in the spread of the coronavirus and the uncertain trajectory of monetary policy have reminded us that the economic recovery from the pandemic remains difficult and introduced a wave of volatility in the financial markets this week. The S&P 500’s 1.5% jump on Tuesday was its biggest daily gain since March. The 1.6% drop in the index on Monday was its biggest drop since mid-May.

Moderna dominated Wall Street trading before its debut on the S&P 500 – Reuters’ Noel Randewich: “Moderna shares fell 2% in a volatile session on Tuesday, with the COVID-19 vaccine maker being the highest-listed company on Wall Street ahead of its S&P 500 debut on Wednesday.

“More than $ 34 billion in company shares have been traded, 17 times more than Moderna’s $ 2 billion average over the past six months, according to data from Refinitiv. About $ 10 billion of those transactions took place in the closing seconds of the session. ”

NASDAQ GETS PRE-IPO SHARES MARKET IN BANKING BUSINESS – Alexander Osipovich of the WSJ: “Nasdaq Inc. is partnering with a group of banks including Goldman Sachs Group Inc. and Morgan Stanley to develop its private equity market.

The deal could help drive more trades to Nasdaq Private Market, the New York-based exchange operator’s trading platform for shares of companies that have not yet been offered. initial public. Startups have waited longer to go public. Employees of these companies are often looking to withdraw their shares, while investors may want to get into a fast-growing tech startup. ”

TREASURE RALLY SHUT DOWN AFTER RETURNS HAVE TAKEN A HAMMER – Benjamin Purvis and Elizabeth Stanton of Bloomberg: “T-bills are finally taking a break after a relentless rally that pushed the 10-year yield towards levels last seen in February.

“The benchmark rate plunged more than 10 basis points on Monday amid concerns over the economic impact of the delta variant, and continued to soar early on Tuesday. But then it rebounded and recorded its first daily gain in one week, closing at 1.22% The change came as stocks also rose as investors stepped in to buy after Monday’s stock sell-off on Monday.

35 METRICS TO TELL YOU WHAT YOU WORRY ABOUT INFLATION – John Authers of Bloomberg: “Inflation is a complex phenomenon that is developing in many places. These 35 key metrics provide a more nuanced picture of how markets are positioned, what official data says, and what consumers and businesses expect. The figures are up to date as of Monday July 19 and will be updated weekly.

“Official data, as well as business and consumer surveys, are alarmingly bright. The latest National Federation of Independent Businesses survey of the prices paid by small businesses is at a level it last reached in the first quarter of 1981. Yet market indicators and surveys Bloomberg experts show no concern. predictions of economists. Both are below their averages for the past decade. ”

IMF URGES COUNTRIES TO MOVE FROM ECONOMIC RESCUE TO REFORMS – David Lawder of Reuters: “The International Monetary Fund’s No.2 official on Tuesday called on countries to shift from safeguarding their economies from collapse to relaunching growth-oriented policy reforms to improve their prospects for growth. recovery and make them more sustainable.

The IMF’s first Deputy Managing Director, Geoffrey Okamoto, said in a blog post on the IMF website that the Covid-19 pandemic has delayed and reversed some pro-growth reforms and their restoration may help make up for lost production during the pandemic. ”

SETTING RULES FOR LOW-INCOME LOANS FOR LARGE REVISION – Andrew Ackerman of the WSJ: “The main US banking regulators said on Tuesday they would work together to modernize the rules governing how banks lend hundreds of billions of dollars a year in low-income communities.

“Officials have also said they will abandon a Trump-era rule overhaul that divided regulators and industry officials. At a time when many banking services have moved online, regulators have attempted to forge a consensus to update the rules of a law enacted over 40 years ago, when banking operations were primarily conducted in retail locations. physical branches. ”

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More financing available for small businesses in NJ Wed, 21 Jul 2021 09:00:32 +0000

The New Jersey Economic Development Authority has opened pre-registration for Phase 2 of its Small Business Emergency Assistance Loan program as part of Governor Phil Murphy’s ongoing COVID-19 relief effort.

NJEDA Director of Business Banking Derrick Benns said the loan program provides funding of up to $ 100,000 at 0% interest to small businesses and qualifying nonprofits in New Brunswick. Jersey.

NJEDA established this small business loan program in March 2020. To date, it has approved 145 loans for a combined total of over $ 10 million.

In this phase, Benns said funding will be available for entities that have been excluded from previous COVID-19 relief programs and will focus on those that have taken up new space in 2021.

Businesses with annual sales of $ 10 million or less that have signed a new lease, leased additional space, or acquired at least 500 square feet of owner-occupied commercial space on or after January 1, 2021 will be considered candidates for Stage 1, Benns said.

Small businesses that meet all other eligibility criteria will be able to apply as “Stage 2” applicants.

Initially, Phase 2 was approved in July 2020, Benns said. Then last June, a change was added because NJEDA wanted to target a different group of businesses excluded from the previous aid. Now the focus is on resilience. Uses of funds will be used to help companies move forward to achieve long-term sustainability.

In keeping with Murphy’s commitment to building a stronger, fairer New Jersey, Benns said $ 3.5 million of the $ 10 million program has been earmarked for qualifying businesses and nonprofits in the area of ​​opportunity.

There are 715 census tracts in New Jersey that are considered areas of opportunity. Benns said that if a company is located in one of these industries, it is more likely to be successful in securing the financing because there is a reserve for these companies in the opportunity area.

Interested companies can pre-register on the portal at

Benns said on the portal that interested entities can view frequently asked questions, a checklist, pre-registration slides as well as a Powerpoint on the program. There will also be an overview of the program and see slide by slide what the actual pre-registration application looks like.

All entities must pre-register before 5:00 p.m. on Friday July 30 to be able to apply for the loan. Pre-registration is NOT first come, first served, Benns said.

Once pre-registration is complete, applications will be open for Stage 1 candidates at 9:00 am on Tuesday August 3, 2021. Applications will remain open for 10 days. If NJEDA has not received enough applications from Stage 1 applicants, it will open applications to all other qualified Stage 2 entities on Friday August 13th.

Most Expensive Home For Sale In Burlington County

Located in Mount Laurel, the 14,020 square foot home is listed at $ 5 million. The home has seven bedrooms, 10.5 baths, and 23 acres. Some of the house features include a pool and spa, indoor and outdoor bar, and maid rooms.

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Former piston Rick Mahorn chooses CURE Auto Insurance, Michigan’s newest auto insurer, as his new brand Tue, 20 Jul 2021 20:40:00 +0000

“CURE isn’t just another auto insurance company. They believe in pricing based on what is most important – the quality of your drive – giving discounts to all good drivers and refusing to use credit scores, ”Mahorn said. “After doing some research, I was struck by the basic principle of business. For CURE, it’s not just about profits, it’s about doing business ethically. When you can. save money for Michigan drivers and doing it the right way is an easy choice. “

Adds the CEO of CURE Eric S. Poe, Esq., CPA, “Rick has proven his character both on and off the pitch. We think he’s a great representative of the way we go about business – work hard, never complain and do things the right way. ethical. The end result will lead you to success. We couldn’t be more excited about our partnership. ” Speaking specifically of some of the early customers, “With the new reform law we are saving some drivers over 60% and really seeing how CURE can change the way auto insurance is billed in the world. Michigan. With Rick on board, we’ll be able to get our message out more and have more true stories to tell. “

Based at Princeton, New Jersey, CURE Automobile Insurance is a non-profit insurer founded in 1990 by the former Insurance Commissioner of New Jersey James J. Sheeran and award-winning insurance expert Dr. Lena Chang. Originally touted as the “cure” for the auto insurance crisis in New Jersey, CURE’s business model is different in many ways. The insurer prioritizes how a person drives over socio-economic status. This unique approach is shaped by the philosophies of its founders and current management. CURE auto insurance is licensed to do business New Jersey, Pennsylvania and Michigan.

More information can be found at or by calling 800-535-CURE.

Media contact:
Glory gayster
[email protected]

SOURCE CURE auto insurance

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New study shows cash remains a mainstay for both consumers Tue, 20 Jul 2021 20:21:35 +0000

WILMINGTON, Del., July 20, 2021 (GLOBE NEWSWIRE) – Despite the availability of technology-driven payment methods such as credit cards, debit cards and mobile wallets, cash remains a mainstay for consumers. consumers making payments (40% prefer to use cash) and businesses that accept them (78% accept cash as a form of payment), according to a new study published by Cash Connect, a division of WSFS Bank that provides services cash logistics.

The national study surveyed 1,500 people aged 18 and over about their spending habits with regard to payment methods, and 500 corporate finance decision-makers about the payment methods their companies prefer and experience on a daily basis.

“It feels like money is disappearing, especially with the rise of new technologies like mobile wallets and contactless payments,” said John Clatworthy, SVP, director of customer services at Cash Connect . “However, we are finding that consumers still believe that cash plays an important role in the way they manage their money and make payments, especially among younger generations such as Gen Z, who are generally more focused on technology but also see the benefit of having cash on hand. This trend will be one to watch, especially for businesses that accept cash. “

Businesses value money, but demand security
Thirty-nine percent of businesses surveyed said they have a cash-only policy for purchases under $ 20 and 43% of their business purchases are under $ 20.

With many small purchases paid for in cash, the majority (71%) of financial decision makers agreed that there is nothing worse than when someone pays for a small purchase with a big bill, like $ 50 or $ 100 .

Once the money is in the corporate system, it is up to the financial decision maker to deposit it safely. Seventy-five percent said they are currently using the “cash to bank” method, which means that they or someone they trust on their team carries the money to the bank for deposit.

However, 77% of decision makers have considered implementing a smart safe or cash recycler for their business in the past year, and many cite ‘safety and security’, “Efficiency” and “ease” as the main reasons for considering the implementation of these technologies and services.

“Despite reports that cash is obsolete, it is clear that cash is a valuable asset for many consumers and business leaders,” said Clatworthy. “The key is to make cash more readily available to consumers and a safer option for financial decision makers who often oversee the reconciliation at the end of each day. Financial experts like those at Cash Connect can help businesses be more efficient and secure through the use of technologies and services like Smart Safes, so they can continue to offer a variety of payment methods for meet customer demand and develop on a large scale.

Cash keeps consumers on budget
Fifty-one percent of Americans agreed that using cash helps them keep their money on budget. Leading the pack is the Gen Z population i.e. 18-24 year olds, 58% of whom use cash to budget their money and 52% of them cite cash as a method of payment. favorite.

However, many respondents said they cap their cash purchases at $ 31 because 54% only have $ 1-50 in cash with them. When asked what cash is used for, the most popular uses were:

  • Departure tips (48%)
  • Fast food purchase (44%)
  • Purchase of sweets and snacks (37%)
  • Purchase of coffee (32%)
  • Pay for gasoline (27%)

Seventy-six percent of those surveyed said there is nothing worse than finding out you need cash and realizing you don’t have it. Sixty-six percent of those who carry cash withdraw it from an ATM once to four times a month, 60% withdrawing outside their bank or inside their bank, and 53% withdrawing money in denominations of $ 20.

An infographic on the study is available here.

Survey methodology
This study was conducted by OnePoll on behalf of Cash Connect, a division of WSFS Bank. The sample includes 1,500 respondents from the general population nationwide aged 18 to 57 and over, and 500 corporate financial decision-makers. The survey was carried out in June 2021.

About Cash Connect
Cash Connect is one of the leading national providers of ATMs and Smart Safe Cash Logistics. Since 1998, she has provided cash management services to financial institutions and independent ATM deployers, and her commitment to innovation helps her clients stay on the forefront of change. A division of WSFS Bank, Cash Connect supports more than 34,000 devices in all 50 states. Visit for more information

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its principal subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company, headquartered in Delaware and the greater Philadelphia area. As of March 31, 2021, WSFS Financial Corporation had $ 14.7 billion in assets on its balance sheet and $ 24.7 billion in assets under management and administration. WSFS operates from 111 offices, 88 of which are bank offices, located in Pennsylvania (51), Delaware (42), New Jersey (16), Virginia (1) and Nevada (1) and provides services comprehensive financial services, including commercial banking, banking, treasury management, and fiduciary and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC, Christiana Trust Company of Delaware®, NewLane Finance®, Powder mill® Financial Solutions, West Capital Management®, WSFS Institutional Services®, WSFS mortgage®, and WSFS Wealth® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States operating permanently under the same name. For more information, please visit

Media contact: Rebecca Acevedo

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RBB Bancorp to Release Second Quarter 2021 Financial Results Tue, 20 Jul 2021 18:03:29 +0000

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LOS ANGELES – (BUSINESS WIRE) – RBB Bancorp (NASDAQ: RBB) and its subsidiaries, Royal Business Bank (“the Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as “the Company”, today announced that they will release financial results for its closed second quarter. June 30. , 2021 after market close on Monday July 26, 2021.

Management will hold a conference call at 11:00 a.m. Pacific Time / 2:00 p.m. Eastern Time on Tuesday, July 27, 2021, to discuss the Company’s financial results.

To listen to the conference call, please dial 1-833-519-1355 or 1-918-922-6505, access code 5654379. A replay of the call will be available at 1-800-585-8367 or 1-404-537-3406, access code 5654379, approximately one hour after the end of the call and will remain available until August 3, 2021.

In addition, interested parties can listen to a live webcast of the call in the “Investor Relations” section of the Company’s website at This webcast will be recorded and available for replay on the Company’s website approximately two hours after the end of the conference call.

Company overview

RBB Bancorp is a community financial holding company headquartered in Los Angeles, California. As of March 31, 2021, the company had total assets of $ 3.7 billion. Its wholly-owned subsidiary, the Bank is a full-service commercial bank, which provides business banking services to Chinese-American communities from Los Angeles, Orange and Ventura counties in California, to Las Vegas, Nevada, to Brooklyn, Queens. , and Manhattan in New York, Edison, New Jersey, and the Chicago neighborhoods of Chinatown and Bridgeport, Illinois. Banking services include remote deposit, online banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, single family residential loans 1 to 4, auto loans, trade finance, a full line of deposit account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, two branches and a lending operations center. in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey and two branches in Chicago, Illinois. The Company’s administrative and loan center is located at 1055 Wilshire Blvd., Los Angeles, CA 90017, and its financial and operational center is located at 7025 Orangethorpe Ave., Buena Park, CA 90621. The website address of the company is

Yee Phong (Alan) Thian, President and CEO, (626) 307-7559; David Morris, Executive Vice President and Chief Financial Officer, (714) 670-2488

Source: RBB Bancorp

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You may be eligible for free or discounted NY health insurance. here’s how Tue, 20 Jul 2021 11:06:51 +0000

ALBANY – About a third of New Yorkers get their health insurance through the state exchange, and there are now higher benefits for income-eligible residents, as well as almost free coverage for those who have touched the state. unemployment this year.

NY State of Health, the official marketplace for the state’s health plan, has more than 6 million subscribers as participation surged during the COVID-19 pandemic due to the toll the virus has taken on the economy.

The US bailout approved by Congress and President Joe Biden in March expanded eligibility for the health exchange and made it almost free for those who have perceived at least a week of unemployment this year and are eligible to income.

The expansion has been successful: more than 111,000 New Yorkers have newly enrolled in a private insurance plan or the Essential plan, a low-cost option for poor residents, since January.