MEXICO CITY (AP) — Mexico’s central bank says money sent home by Mexican migrants rose 11.4% in 2020 to a new high despite the coronavirus pandemic. The banks said Tuesday that migrants sent home a record $40.6 billion in 2020, including $4 billion last March alone, which was a new high for a single month. The record flow for 2020 compared to $36.4 billion sent by Mexican migrants in 2019. The rise was much better than other countries, which have seen drops in the money flowing home from their migrants because of job losses or reductions in hours due to the pandemic.
6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Richard Miller Richard joined JMFA after a 23-year career in banking, providing JMFA and our clients with a broad base of management experience in community banking, from chief lending officer to president … Web: www.jmfa.com Details Ask any financial institution about its mission and it will likely include “service-centric” or some variation of the idea. It’s something all smart institutions strive for. But excellent service doesn’t happen in a silo or start and end with tellers. It’s an all-encompassing idea that should be at the forefront of every decision and every offering.Yet some credit unions forget this part of their mission when it comes to providing a solution for overdrafts. Some overdraft programs – defined by data-driven algorithms that calculate unique and ever-changing limits for each member – seem designed to fail important service expectations. By contrast, fully disclosed overdraft programs with static limits offer a simple solution that empowers members to make informed financial decisions. Let’s compare how each method of overdraft protection delivers on serving your members’ best interest.Overdraft LimitsWith a data-driven overdraft solution, limits vary for each member based on factors like average daily balance, direct deposits, etc. These limits change as the data changes. So how can your members ever know how much they could overdraft? Unfortunately, they can’t. “Data-driven” feels safe to some credit unions, and provides the feeling of having control, but it comes at the expense of providing first-rate service.In a fully disclosed overdraft program, the limit is the same for everyone, all the time. Predictable, steady and reliable — all things that members appreciate, and count on.Ability to RepayWhile there’s an argument to be made that individuals with higher balances may be less risky overdraft users and therefore deserve a higher overdraft limit, I think this makes too many assumptions. Your members could have accounts elsewhere, have varying degrees of liabilities, or any number of other scenarios. The ability to repay is based on a lending process to determine credit worthiness. We can’t know everyone’s financial story from one account snapshot, so from a service standpoint it only seems fair to treat all members equally. Moreover, overdrafts are not subject to Truth in Lending regulations, so care should be taken to avoid the appearance of a credit product.TransparencyOverdraft programs without an established limit by their very nature cannot be fully disclosed — no limit can be stated at the beginning because it frequently changes. Fully disclosed overdraft programs require members to opt in before ever using them. Being transparent upfront gives individuals the power to make an informed decision about whether to use the service or not. Employee UnderstandingEver try to explain something you don’t fully understand? How about trying to do so to an upset member who keeps getting more confused by what you’re saying? It’s not fun, and it is bad for morale. Data-driven overdraft solutions are designed to be unexplainable in simple terms — they’re highly technical, with ever-changing limits based on information a person may be uncomfortable being judged on.For a more service-centric option, an overdraft program with simple rules that can be explained to an individual easily and concisely fits the bill. Employees will remain poised and confident during inquiries.Bottom line: You can’t offer great service if you can’t even explain your service to the people who use it.Member UnderstandingIf your employees can’t explain your service, how is a member ever supposed to understand it? Do you want your members leaving confused, frustrated and suspicious? Or do you want them to feel empowered, grateful and satisfied – which will lead to trust, loyalty and advocacy of your credit union to others.The solution is clear: If you want to offer excellent member service, offer an excellent service to your members. Fully disclosed overdraft protection programs line up with service-centric missions.And, if all else fails, use this litmus test: If I had limited funds available and needed to use an overdraft program, which type would I rather rely on?For more information on implementing a service-focused, fully disclosed overdraft solution with a 100 percent written compliance guarantee, contact your local JMFA representative.
The Santa Ana Police Department has arrested a 45-year-old man who was caught on camera setting a homeless man on fire.The video shows a man dressed in all black approach the victim who is sitting crossed-legged on the sidewalk of a strip mall. The man then dumps a container of liquid on the victim and the pulls out what appears to be a lighter to ignite the fuel. Seconds later the victim is on fire.The suspect then leaves the area on his bike, while the victim stands up and attempts to put the fire out.A witness then called the fire department, who assisted the victim and rushed him to the hospital.Authorities say the victim was on fire for about 30 seconds and suffered first-, second- and third-degree burns to his upper body. He has since underwent surgery and was last reported to be in critical condition.The suspect in the video identified as Adrian Alberto Rodriguez Herrera was arrested on Monday after authorities released the video to the public and received a tip.He has been charged with arson and attempted murder, however, authorities say they are still gathering evidence which could result in more charges.
It was announced late yesterday that global esports brand Fnatic had raised over $7million (£5.64m) in financing.The investment comes from a plethora of investors, with big names such as the Boston Celtics and AS Roma featuring prominently. On the AS Roma front it’s not the first time they’ve been involved with Fnatic. Their recent soft launch into esports came in a joint venture with Fnatic. The three players who were chosen to represent AS Roma also featured the Fnatic crest on their shirts. “There has been strong growth in esports, which has accelerated in recent years, but the major shift has been in the acceptance and inclusion by sports franchises, media companies and high profile individuals who have entered and advanced the industry rapidly,” revealed Sam Matthews, Founder of Fnatic, in a press release. He added: “We’re incredibly excited by the opportunities available within esports, and having world class investors and advisors only enhances our ability to address these opportunities and continue to innovate.”According to the announcement, the funding will be used for an array of purposes. It ranges from the personnel side such as: coaches, analysts and psychologists all the way to facility infrastructure and academy teams, and even products and apparel. It’s the latest burst of activity from Fnatic, after their partnerships with Roma and Chinese agency B.O.O.T. The brand is synonymous with success across many esports, with ten professional teams currently competing across a multitude of titles. Surely the next eye is on the Overwatch League, of which we still await more details.With a job advertisment on their website for an Overwatch Team Manager in Los Angeles – could that be where the Fnatic Overwatch franchise will find themselves based? Only time will tell.Esports Insider says: Great news for Fnatic – one of the biggest esports brands around. It’s great to see them attract such substantial investment as it will likely only mean good things for growth of esports. We’ll be intrigued to see the brand’s next move having had this injection of funding.
Image Courtesy: Getty/TOIAdvertisement 3m5qzjNBA Finals | Brooklyn VsnfWingsuit rodeo📽Sindre Ez2ik4( IG: @_aubreyfisher @imraino ) 2t9Would you ever consider trying this?😱1qzjnCan your students do this? 🌚b47jRoller skating! Powered by Firework The New Zealand ODI series is over with a disappointing performance from Team India, losing the series 3-0 to the hosts. Alongside Mayank Agarwal, the young Prithvi Shaw was chosen as the opening batsman for Kohli’s squad. Failing to fulfil his expectations after a mediocre performance in the ODIs, there are questions regarding as to include Shaw for the upcoming Test series. Amongst several opinions, Indian cricketing icon Harbhajan Singh comes up with his choice, which is the starlet batsman Shubman Gill.Advertisement Image Courtesy: Getty/TOIShubman Gill has not made any red ball cricket appearances for Team India yet, but his stellar performance for the India A team is grabbing everyone’s attention. The youngster from Punjab has scored a marvellous 204-not-out as a middle order batsman in the first unofficial Test versus New Zealand, followed by a stunning century in the second Test.In a recent interview with PTI, Harbhajan Singh put his positives forward for Gill. “Shubman should get his chance since he has been part of the team (as reserve opener) for quite a while without playing any Test match,” he told reporters.Advertisement Talking about GIll’s opening partner, two options come forward- Prithvi Shaw and Mayan Agarwal. The duo have been Team India’s openers in the recent ODIs against Kiwis.Returning from a dope ban, Shaw proved his worth in the unofficial ODIs last month, but unfortunately, failed to reflect his performances against the New Zealand XI in the ODI series, scoring 84 runs with a series average of 28.Advertisement However, Agarwal’s numbers are worse. The 28 year old from Bengaluru was massively out of form in the ODI series, scoring only 36 runs across the three matches.However, amongst Shaw or Agarwal as Gill’s Test partner, Bhajji prefers the latter, because of a better experience in the format.Harbhajan continued: “Mayank is a proven player in Test cricket and a top batsman. He understands his game very well. Just because of three ODI innings and a practice game, you don’t drop him. It doesn’t work like that.”In his 9 Test appearances for India, Agarwal has scored 872 runs, substantially more than Shaw’s two international appearances in the 2018 West Indies series.“He has been scoring lots of runs wherever he is playing, so I feel Mayank and Shubman should start in first Test,” Harbhajan concluded.Also read-Bhajji reveals who India’s ‘No.1 choice spinner’ for T20 World Cup should be5 underrated cricketers who will have a big impact for India in 2020 Advertisement