Invested Credit

retirementThe results of a recent survey have revealed that a rising number of workers in America are keen to be able to continue working past the official retirement age. According to the survey there are various reasons behind the rising number of people who want to be able to continue working past the full retirement age, with financial concerns being one of the key reasons behind this.

The study was carried out by the Aegon Center for Longevity and Retirement, which said that more than two thirds of workers in the United States wanted to be eased into retirement gradually rather than having to retire once they reached a certain age. The study was carried out on Americans that were nearing retirement age and many of those responding also stated that they were looking to try and get working hours that were outside of the usual 9-5 hours.

Top reasons for want to work after retirement age

There were a number of reasons identified by the survey with regards to why so many American workers want to continue working past their retirement. Amongst the top reasons that were given were being able to continue being active, enjoyment of working, and a desire to continue earning money rather than having to turn to social security. Many were concerned about their financial security after retirement. Read the rest of this entry »

US Capitol South Side

US Capitol South Side

In lieu of the Consumer Financial Protection Bureau (CFPB) releasing a series of proposed regulatory reforms for the payday loan lending industry, many of the smaller payday lenders are seeking assistance from Congress. But will congressional representatives and senators offer assistance to bad credit loan lenders?

With the influx of numerous reforms, at both the federal and state level, very few are willing to come to the aid of the payday loan industry. And it hasn’t been without the industry trying.
The Hill reported that many smaller payday loan lenders, including Thrifty Loans LLC and Payne’s Check Cashing, have appealed to lawmakers for help in their fight of the CFPB’s new rules.

Writing in a letter to Louisiana Republican Senator David Vitter and Ohio Republican Congressman Steve Chabot, chairmen of the House and Senate committee on small business, seven small payday lenders have requested to review the federal agency’s regulatory framework. They noted that they have attempted to engage with CFPB to discuss the proposals, but to no avail.

“In fact, many of our fellow lenders believe the CFPB is trying to eliminate the payday lending industry and only conducted the Small Business Regulatory Enforcement Fairness Act (SBREFA) process to try to prevent its regulation from being overturned in court,” their letter said.

The group of bad credit loan lenders added in their letter that it has been a frustrating process because CFPB officials failed to outline problems with the state regulatory reforms and proposals. They even concede that bureau regulators “admitted they had not even analyzed the existing state programs.” Read the rest of this entry »

Walmart Store ExteriorBefore the opening of the market on Thursday, Wal-Mart came out with its 3rd quarter fiscal 2015 results. Wal-Mart stores Inc. declared EPS of $1.15 on overall revenues of $119 billion. These numbers include the membership fees involved in Sam’s club. Last year‘s statistics around the same time showed EPS of $1.14 on revenues of $115.69 billion. Thomson Reuters had anticipated the 3rd quarter results with the EPS of $1.12 with revenue of $118.35 billion.

Wal-Mart same store sales showed a boost after 7 quarters and according to Wal-Mart the rise in sales were due to inflation cramped by SNAP related headwinds. The Same Store Sales at the U.S based Wal-Mart showed an increase of 0.5% at the superstore and other discount stores. This increase was the same both with and without the fuel sales. Same Stores Sales in Wal-Mart’s Sam’s club rose by 0.4% without fuel and were up by 0.3% with fuel sales. On the other hand the Same Store Sales at the Neighborhood market went up by 5.5% brining the net total of the U.S sales to 3.4% in the quarter.

In last year’s 4th quarter Wal-Mart’s EPS was $1.60, however the predictions made were of $1.57. The predictions for the 4th quarter of 2015 EPS are between the ranges of $1.46 and $1.56. Wal-Mart also lowered its full year expectation of the EPS range from $4.90 – $5.15 to a new range of $4.92 – $5.02. However the overall consensus estimate is said to be $4.99 EPS for the whole year. The 4th quarter EPS estimate will include a $0.03 charge which will be related to the store closing in Japan.

Wal-Mart’s CEO expressed his contentment and said that the highlights for the quarter include the positive comp in Wal-Mart U.S, which include strong performance from Neighborhood markets, the 21% increase in e-commerce sales globally and the profit gained by the performance of Sam’s club and the company’s international business. He also said that it is their priority to remain the price leader and it is their commitment to their customers as well. And this responsibility becomes more important during the holiday season. He further said that this year’s 4th quarter had the advantage of lower fuel prices in the U.S and other key markets. Read the rest of this entry »