Category: La Finca
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A Faster and More Convenient Way to Request a Social Security Number and Card
Do you need an original Social Security number or a replacement Social Security card?
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Learn How to Protect Your Identity During Identity Theft Awareness Week
ID theft can happen to anyone, but you can take simple steps to lessen the chance it will happen to you.
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State helps CBD processing plant expand in Estancia Valley: NewBridge to expand production operations in Estancia Valley
The New Mexico Economic Development Department and NewBridge Global Ventures (NewBridge) announced today that the Ag Tech company is planning a major expansion in the Estancia Valley to grow and integrate its farming, processing, manufacturing, and distribution businesses centered around industrial-scale hemp and CBD.
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Center at NMSU to offer resources to new, established entrepreneurs in southern NM
Established business owners, as well as aspiring entrepreneurs, are invited to take advantage of programs resources offered by a new center located at New Mexico State University’s Arrowhead Center.
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Financial Stress Top 5: Delinquency Increasingly in the Cards for Maxed‑Out Borrowers [Fifth of 5]
In this post, analysts from the New York Fed’s Center for Microeconomic Data (CMD) explore the relationship between credit card delinquency and changes in credit card utilization rates.
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Financial Stress Top 5 of 2024: What Was Up with Grocery Prices? [Fourth of 5]
Taking a close look at the underlying data, the author suggests that the moderation in food inflation seen since 2023 is due to a retreat in commodity prices, a trend that has offset still-high wage inflation for grocery workers.
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Financial Stress Top 5 of 2024: Auto Loan Delinquency Revs Up [Third of 5]
High prices and rising debt put pressure on household budgets this year, so it’s little wonder that the most-read Liberty Street Economics posts of 2024 dealt with issues of financial stress: rising delinquency rates on credit cards and auto loans, the surge in grocery prices, and the spread of “buy now, pay later” plans.
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Financial Stress Top 5 of 2024: Dollar Assets, Gold, and Official Foreign Exchange Reserves [Second of 5]
Global central banks and finance ministries hold an immense amount of U.S. dollar assets in their foreign exchange reserves, but the dollar’s overall share of those portfolios has decreased in recent decades.
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Financial Stress Top 5 of 2024: How and Why Do Consumers Use “Buy Now, Pay Later”? [First of 5]
In this post, the authors shed light on the function of “buy now, pay later” (BNPL) plans in users’ household finances, focusing on how usage varies by level of financial fragility.
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Inflation stress and concern remain elevated despite stabilizing prices
Although most economists and policymakers tend to focus on the decline in inflation (the change in prices), a large share of households—especially low-income households—remain focused on still-elevated prices and the resulting difficulties paying expenses.
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State of Consumer Risks 2025 Series: CFPB Takes Action on Bait-and-Switch Credit Card Rewards Tactics [Fifteenth of 15]
“Large credit card issuers too often play a shell game to lure people into high-cost cards, boosting their own profits while denying consumers the rewards they’ve earned.”
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State of Consumer Risks 2025 Series: CFPB Sues Walmart and Branch Messenger for Illegally Opening Deposit Accounts for More Than One Million Delivery Drivers [Fourteenth of 15]
Drivers had to follow a complex process to access their funds, and when they finally did, they faced further delays or fees if they needed to transfer the money they earned into an account of their choice.
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State of Consumer Risks 2025 Series: CFPB Files Lawsuit to Stop Illegal Kickback Scheme to Steer Borrowers to Rocket Mortgage [Thirteenth of 15]
Rocket Homes pressured real estate brokers and agents not to share valuable information with their clients concerning products not offered by Rocket Mortgage, such as the availability of down payment assistance programs, which often save homebuyers thousands of dollars.
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Number of Trucks Entering U.S. from Mexico Approaches 8 Million a Year: Bureau of Transportation Statistics Data Reveals Long-term Trend Emerging in North American Freight Trucking
Since 2000, the number of trucks from Canada have been decreasing while in contrast the number of trucks from Mexico have increased.
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State of Consumer Risks 2025 Series: CFPB Sues JPMorgan Chase, Bank of America, and Wells Fargo for Allowing Fraud to Fester on Zelle [Twelfth of 15]
The CFPB’s lawsuit describes how hundreds of thousands of consumers filed fraud complaints and were largely denied assistance, with some being told to contact the fraudsters directly to recover their money.
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State of Consumer Risks 2025 Series: CFPB Uncovers Illegal Practices Across Student Loan Refinancing, Servicing, and Debt Collection [Eleventh of 15]
The report covers violations related to student loan refinancing, private lending and servicing, debt collection, and federal loan servicing.
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State of Consumer Risks 2025 Series: the impacts of Social Security offsets on student loan borrowers [Tenth of 15]
When borrowers default on their federal student loans, the U.S. Department of Education (ED) can collect the debt. It can use forced collections, including tax refund and Social Security benefit offsets, and wage garnishment.
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State of Consumer Risks 2025 Series: CFPB Sues Experian for Conducting Sham Investigations of Consumer Report Errors [Ninth of 15]
Today, the Consumer Financial Protection Bureau (CFPB) sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.
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Social Security Adminstration Suggests: Resolve to Protect Yourself From Scams This New Year
Take some time to review the privacy settings on your social media platforms and limit the amount of personal information you share publicly.
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State of Consumer Risks 2025 Series: CFPB Closes Overdraft Loophole to Save Americans Billions in Fees [Sixth of 15]
The agency’s final rule on overdraft fees applies to the banks and credit unions with more than $10 billion in assets that dominate the U.S. market.
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State of Consumer Risks 2025 Series: CFPB Takes Action Against Student Loan Debt Collector Performant Recovery for Illegal Fee Generating Scheme That Cost Borrowers Thousands of Dollars (Fifth of 15)
The CFPB found that Performant delayed borrowers’ loan rehabilitation processes, generating fees for itself and costing individual borrowers thousands of dollars.
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State of Consumer Risks 2025 Series: CFPB Takes Action Against Climb Credit and Investment Firm 1/0 for Deceiving Borrowers About Coding Bootcamps and Vocational Programs (Fourth of 15)
The CFPB sued Climb Credit for offering loans for educational programs that often were not vetted for quality and job placement success or that failed the vetting, despite Climb Credit making representations to the contrary.
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State of Consumer Risks 2025 Series: CFPB Announces Return of $1.8 Billion in Illegal Junk Fees to 4.3 Million Americans Harmed in Massive Credit Repair Scheme (Third of 15)
The Consumer Financial Protection Bureau (CFPB) is distributing $1.8 billion to 4.3 million consumers charged illegal advance fees or subjected to allegedly deceptive bait-and-switch advertising by a group of credit repair companies including Lexington Law and CreditRepair.com.
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State of Consumer Risks 2025 Series: United States Files Complaint Against Dave Inc. and CEO Jason Wilk Alleging Deceptive Practices in Violation of Federal Law (Second of 15)
The Justice Department, together with the Federal Trade Commission (FTC), today announced a civil enforcement action against Dave Inc. (Dave) and its co-founder, President, Chief Executive Officer and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA).
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State of Consumer Risks 2025 Series: Register before January 8th to join a free CFPB webinar on tax time resources for consumers (First of 15)
This webinar is designed for frontline service providers and program managers who want to know more about free filing options for the people they serve.
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Social Security: Five Topics of Conversation for Holiday Gatherings
If the topic of Social Security comes up during a holiday get-together, we’ve put together 5 basic messages you can share with your loved ones.
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The Tax Man is Catching Up with “Gig Economy” Workers
U.S. District Judge Dolly M. Gee for the Central District of California found that there is a reasonable basis for believing that U.S. taxpayers who were paid by JustAnswer to answer questions as experts may have failed to comply with federal tax laws.
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The Most Wonderful Time of the Year for Many Businesses
Regardless of the holiday, food-sharing and family gatherings are all part of seasonal traditions.
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New Mexico draws on energy, trade to spur economy
New Mexico is the nation’s second-largest oil and gas producer (behind Texas). It is the home to cutting-edge federal research and houses a busy port of entry through which a growing volume of goods passes from Mexico, the nation’s No. 1 trade partner.
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Social Security Announces 2.5 Percent Benefit Increase for 2025
On average, Social Security retirement benefits will increase by about $50 per month starting in January.
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The Basics of Nonbank Financial Institutions
Examples of types of NBFIs include investment funds, pension funds, insurers, government-sponsored enterprises, and financial broker-dealers.
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Employment and Funding Opportunities as of December 15, 2024
Dozens of jobs, local and abroad. Funding and grant opportunities. Many windows closing soon.
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CFPB Report Details Student Borrower Harms from Servicing Failures and Program Disruptions
The report details how millions of student borrowers have received relief through new income-driven repayment plans, cancellation programs, and various adjustments and program automation processes.
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Employer strategies to end gender-based violence and harassment at work
Workplace policies are an important tool for employers because they ensure that procedures, protections and rights are clearly defined to all employees.
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Consumers Express Optimism about their Future Financial Situations; Inflation Expectations Tick Up
Households expressed more optimism about their year-ahead financial situations, while earnings and household income growth expectations both rose in November.
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Reallocating Liquidity to Resolve a Crisis
Shortly after the collapse of Silicon Valley Bank in March 2023, a consortium of eleven large U.S. financial institutions deposited $30 billion into First Republic Bank to bolster its liquidity.