US
FTC Commissioner Targets Use of Confessions of Judgement for Small-Business Loans
WASHINGTON – The U.S. Federal Trade Commissioner, Rohit Chopra, has called for scrapping the use of a legal instrument called confession of judgment in small business lending contracts. Chopra urged the agency forum to be accountable for cleaning up this market. Use of such terms in small business loans contract since the last few years have led to several legal actions against small business borrowers.
The unregulated merchant cash-advance industry has got an edge over small business borrowers as it could not lose court dispute if someone agrees to legal terms such as confessions of judgment. Since 2012, small business borrowers have not managed to defeat cash-advance companies in over 25,000 judgments in the US. Under this, lenders have a right to legally seize borrowers’ bank accounts and other assets. A huge number of bad credit small business loans options are available which simply help business owners to arrange money in the case of emergency. Small business loans market has been witnessing growth at a huge rate. Many popular online sources such as capitalforbusiness.net have given many consumers an option to get a loan even if they have a bad credit.
Earlier, FTC had banned the use of confessions of judgment by using 1984 Credit Practices Rule. However, the rule was not applicable for small businesses. There are many reports of unfair marketing, sales, and collection practices in the small business finance market, so FTC has been taking action under the FTC Act to tackle such conduct. Chopra said that FTC is the only federal regulator in the non-bank small business financing market, so it has to keep an eye if any violation of law is there or not.
Katherine Fisher, who advocates for cash advance companies, said that FTC took the appropriate decision to ban confession of judgments as consumers don’t have much-needed protection due to limited options available. However, small businesses could easily resort to many other options, so there is no need to impose a ban on this case.
US
Creating Safe Havens: Inside Genesis USA’s Vision for Inclusive Housing
GenesisUSA, a nonprofit based in Arlington, Texas, works to improve the lives of disabled veterans and children who have lost their parents. Led by Charles Ford, the organization goes beyond providing financial aid. It focuses on long-term solutions, like building wheelchair-accessible homes, to support independence and dignity for those in need. With rising housing costs and growing inequality, GenesisUSA’s mission addresses a critical gap.
Ford and his team create supportive environments that help promote self-reliance in underserved communities. As a smaller, community-based organization, it addresses challenges that can be difficult for larger organizations to manage. Its work shows how local initiatives can make a noticeable difference.
A Growing Crisis: The Need for Accessible Housing
The demand for affordable and accessible housing continues to grow. A 2023 report from the National Low Income Housing Coalition estimated that more than 11 million U.S. households need homes with accessibility features. This challenge is more pronounced for disabled veterans, with nearly four million living in homes that do not meet their physical needs.
“Our veterans have sacrificed a lot for this country, but many still face housing that doesn’t suit their needs,” Ford says. “Beyond merely providing them shelter, we’re creating a space where they can live comfortably.”
GenesisUSA is responding by building homes designed for accessibility. These houses include ramps, wider doorways, and modified kitchens and bathrooms to allow veterans to live more independently. The organization also plans to create supportive environments for children who have lost their parents, many of whom also face mobility challenges.
Ford’s Community-Driven Leadership at GenesisUSA
Ford’s years of experience in construction and his dedication to charitable work have shaped his leadership at GenesisUSA. He stays closely involved, often meeting veterans and families to learn about their needs firsthand. “For me, it’s about building personal connections,” Ford says. “Large charities sometimes miss the individual stories.”
The community focus defines Ford’s leadership. Although some wonder if a smaller nonprofit can make a meaningful impact, Ford is confident. “We don’t have celebrity endorsements or huge budgets, but we have real relationships with the people we help,” he says. His dedication to grassroots efforts sets GenesisUSA apart from larger, more structured organizations.
GenesisUSA has already helped over 100 people and aims to expand its impact with affordable, accessible housing solutions. One notable feature is the inclusion of a wheelchair-accessible swimming pool, which has received positive feedback. Ford says, “We’re creating spaces where people can enjoy life fully, just like everyone else,” which reflects the organization’s mission to support independence and inclusion.
Building More Than Homes: A Reflection of Hope
Ford looks back on GenesisUSA’s progress with a clear sense of purpose. “We’re not simply building homes, we’re offering hope and building opportunities for independence,” he says. “We’re here to support veterans who face mobility challenges and children who have lost their parents, offering them a chance at a more self-reliant life.”
As the organization’s reach expands, so does its ability to impact lives across the country. Its work embodies Ford’s dedication to ensuring that no one is overlooked. Ford envisions scaling their efforts while maintaining the personalized approach that defines their model.
“We’re still in the early stages,” he notes. “As we grow, we’ll continue to prioritize individual needs. Our success hinges on the improved quality of life for each person we help.”
As the demand for accessible, supportive housing rises, organizations like GenesisUSA play an important role in filling gaps left by larger institutions and government programs. Through its focus on tailored support and community-driven solutions, GenesisUSA is building a model for how smaller nonprofits can significantly impact and address pressing social needs.
-
Tech4 years ago
Effuel Reviews (2021) – Effuel ECO OBD2 Saves Fuel, and Reduce Gas Cost? Effuel Customer Reviews
-
Tech5 years ago
Bosch Power Tools India Launches ‘Cordless Matlab Bosch’ Campaign to Demonstrate the Power of Cordless
-
Lifestyle5 years ago
Catholic Cases App brings Church’s Moral Teachings to Androids and iPhones
-
Lifestyle4 years ago
East Side Hype x Billionaire Boys Club. Hottest New Streetwear Releases in Utah.
-
Tech6 years ago
Cloud Buyers & Investors to Profit in the Future
-
Lifestyle4 years ago
The Midas of Cosmetic Dermatology: Dr. Simon Ourian
-
Health6 years ago
CBDistillery Review: Is it a scam?
-
Entertainment5 years ago
Avengers Endgame now Available on 123Movies for Download & Streaming for Free