June 15, 2021
The Gateway For Payroll Data
What Is Crypto Lending?

Cryptocurrency enthusiasts are often encouraged to hold on to their crypto holdings for the long haul. But if you need money, you might be considering cashing some of your cryptocurrency to cover a major or an unexpected expense.

Depending on how much you need, though, you may be able to use your cryptocurrency as collateral for a loan. Additionally, many crypto platforms allow consumers to lend their digital assets in exchange for a hefty return , compared with the traditional high-yield savings account. Find out the different ways your crypto assets can work for you.

Cryptocurrency is growing as a payment method and a speculative investment opportunity. But for enthusiasts who plan to HODL -- an industry acronym for hold on for dear life -- their assets with no plans to sell, there are opportunities to get more value out of their digital currencies.

One way is to use your digital assets to borrow money when you need it. Another is to lend your cryptocurrency and earn interest instead of paying it.

Paving the Payments Future
Almost half of Americans are willing to take on debt in a post-pandemic spending splurge, survey finds

Americans are ready to start spending money to treat themselves — and 44% are willing to go into debt to do it, a report from finds.

Millennials, ages 24-40, are most likely to take on more debt (59%) followed by Gen Zers, ages 18-24, coming in at 56%. Only 40% of Gen Xers, ages 41-56, and 32% of baby boomers, ages 57-75, said the same.

When it comes to what respondents are willing to incur charges for, ca

More than two-thirds, or 67%, plan to spend money in the second half of the year, with travel and out-of-home entertainment the most popular purchases.

Everyone is entitled to treat themselves after enduring the Covid-19 pandemic, said Ted Rossman, senior industry analyst at

IRS sending letters to more than 36 million families who may qualify for monthly Child Tax Credits; payments start July 15

WASHINGTON — The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly Child Tax Credit payments starting in July.

The expanded and newly-advanceable Child Tax Credit was authorized by the American Rescue Plan Act, enacted in March. The letters are going to families who may be eligible based on information they included in either their 2019 or 2020 federal income tax return or who used the Non-Filers tool on last year to register for an Economic Impact Payment.

Eligible families should file tax returns soon

New Arizona law allows debt collectors access to your home's equity

PHOENIX — If you're looking to buy or sell a home in Arizona, a recently signed law could put a wrinkle in the process.

In May, Governor Doug Ducey signed what was known as HB 2617 into law. It focuses on how debt collectors can place liens on your home in order to recoup what you might owe.

On the surface, Bankruptcy Attorney Lamar Hawkins says it looks like a good thing for homeowners - raising the amount of money that is supposed to be protected from debt collectors from $150,000 to $250,000.

The average millennial has over $4,000 in credit card debt—other generations have more

Gen X and Gen Z have the highest and lowest credit card debt, respectively. Here’s how to pay it off.

Consumers of all ages carry credit cards, but some generations have larger outstanding balances than others.

Members of Generation X have the highest average credit card debt at $7,155, followed by baby boomers and millennials, according to credit bureau Experian’s latest consumer findings.

With an average credit card balance of $1,963, consumers in Generation Z carry the lowest credit card debt. Younger credit cardholders just starting out typically have lower credit limits than their older cohorts, so it isn’t unusual that Gen Z would have the lowest credit card debt.

Here’s the average credit card debt broken down by generation:

National banks outpace regionals in digital satisfaction: J.D. Power study

The growing consumer shift to mobile banking is favoring the nation’s largest banks, with national banks earning an eight-point increase in overall customer satisfaction their retail apps compared with regionals, which have seen their mobile app satisfaction scores decrease 17 points this year, according to a study released last week by J.D. Power.

A record 41% of bank customers are classified as digital-only, and two-thirds, or 67%, of retail bank customers used mobile banking apps in the past year, the report found.

As the pandemic drove a demand for digital services, the depth and quality of an institution’s digital offerings is becoming a key customer satisfaction differentiator between national and regional retail banks, the report found.

Why some lenders are going all-in on video banking

OceanFirst Financial plans to extend its video banking services to mobile devices, while U.S. Bank recently added video to its co-browsing service.

The coronavirus pandemic has forced banks to adjust the way they interact with their customers, and many have boosted their digital platforms to better serve their clients at a distance. 

Several banks have found success in their video banking platforms. The technology, they say, allows them to serve customers in a safe and convenient way, while still providing a personal touch. 

Toms River, New Jersey-based OceanFirst Financial has been using video banking to connect with its customers for the last five years — an investment the bank says has paid off amid 15 months of social distancing and lockdowns.

Frozen But Not Forgiven, U.S. Student Loans Are Coming Due Again Soon

(Bloomberg) -- For millions of Americans, there’s an unwelcome side of the return to business-as-usual after the pandemic: They’ll have to start repaying their student loans again.

More than 40 million holders of federal loans are due to start making monthly instalments again on Oct. 1, when the freeze imposed as part of Covid-19 relief measures is due to run out. It covered payments worth about $7 billion a month, the Federal Reserve Bank of New York estimated. Their resumption will eat a chunk out of household budgets, in a potential drag on the consumer recovery.

Americans now owe about $1.7 trillion of student debt, more than twice the size of their credit-card liabilities. Politicians recognize it’s not sustainable. Yet for all the talk of loan forgiveness during last year’s election campaign — including from President Joe Biden, who promised to write off at least $10,000 per borrower — there’s been no progress toward shrinking the pile.

Graduates fresh out of college or postgrad programs, when incomes are typically lower, tend to find payment especially hard. Since the U.S. economy is still 7.6 million jobs short of pre-pandemic levels, many more of them are likely to be out of work now.

Federal help with paying your rent

If you’re a tenant having trouble paying your rent, utilities, or other housing costs, help may be available.

The federal Emergency Rental Assistance (ERA) program was created to help tenants like you cover housing costs and stay in stable housing during the coronavirus pandemic. Many programs are taking applications from both tenants and landlords. So if you’re a landlord, you’re in the right place too. ERA funds come from the federal government, but local programs are distributing the money in their own communities.

How do I apply for emergency rental assistance?
You apply through your local ERA program. Each program has some flexibility in how they set up to suit the needs of their local community. For example, in some areas, you can apply for rental assistance yourself. In others, landlords need to submit an application first. To find rental assistance in your area and learn how to apply, visit

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