What was the first bank in the United States

 

On January 4, 1782, the Bank of North America opened its doors in Philadelphia, becoming the first in the USA, although by that time the country was still involved in the War of Independence (which ended in 1783 despite the fact that the declaration of emancipation would have been made on July 4, 1776).

What was the first bank in the United States?

Until that date, bank loans had been in the hands of private lenders who had made usury a profitable business and it was for this reason that the Congress of the Confederation , created on March 1, 1781, urged to curb the speculation of those individuals who were enriched without any scruples and gave the green light to the creation of a national bank to carry out such transactions.

As a curious note, it is worth noting that the first daughter of Philadelphian politician William Bingham ( Ann Louisa Baring ) was born one day before the opening of the Bank of North America, so as a celebration the happy father decided to buy 9.5% of shares of the recently launched bank, something that made it, after the end of the War of Independence, one of the richest men in the United States.

 

 

The ‘Buen Vivir’, a forum that wants to change the global indicators of wealth

For the first time in Europe, elected representatives, local authorities, scientists, associations and committed citizens meet in what they have called the International Forum for Good Living , with the aim of reflecting on wealth indicators and acting together in the face of the need to a change of model.

It will be in Grenoble (France) on June 6, 7 and 8 and an extensive program of conferences, round tables, screenings, artistic interventions, workshops and debates open to all has been organized.

foro internacional para el buen vivir

For more than 30 years, numerous experiences have been applied to smaller scales that promote other “compasses” , trying to put at the heart of public action alternative indicators to GDP or complementary to economic indicators.

These initiatives question economic growth as the dominant objective of political, economic and social interventions and seek to measure well-being, human and social development, quality of life, living together, etc. So many invisible elements in the statistics of economic growth, as the organizers of this forum say.

The Forum will be focused on the “and after? “, That is, in the conditions for these alternative indicators to pass from simple observation indicators to indicators that influence individual, collective and institutional decisions.

“For all citizens committed to building a fair and sustainable society, it is time to lay the foundations for concerted action,” they say.

The International Forum for Good Living has been organized collaboratively by local governments (City and Metropolis of Grenoble), the university community of Grenoble (COMUE and the University Grenoble-Alpes); and civil society (CCFD-Terre Solidaire and the collective FAIR / Forum for other indicators of wealth). And to build the program, economic and social actors , researchers, elected representatives or citizens committed to these reflections have been invited to participate. They also invite researchers from the scientific community interested to participate in the scientific colloquium that has been planned to enrich the research work on these issues.

Car Insurance: New Type Classes for 2016 now released

 
 
With the new type classes 2016, which were published today, it goes in the motor liability insurance for 30 percent of vehicles in a new type class. In partial and comprehensive insurance, around 45 percent of the vehicles are even reclassified. Depending on the new type class, car insurance may be cheaper or more expensive in 2016.

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Neue Typklassen 2016 primär für Teil- und Vollkasko Kfz-Versicherung
New Type Classes 2016 for Casco and Liability Insurance

The new type classes for 2016 are here. While drivers whose vehicles are being downgraded to a lower-end type can hope for lower premiums for their car insurance, car owners looking for vehicles with a higher car class from 2016 onwards will have to expect higher premiums . However, changes in the type class “do not allow conclusions about the development of the total motor insurance contribution,” according to the German Insurance Association (GDV), which published the type classes for 2016 today. Because the amount of the insurance premium depends on several factors. Nevertheless, many drivers are interested in the respective class of their car.

Update September 7, 2016: The type classes for 2017 are now fixed.

Type classes 2016: What changes are there in motor insurance?

For policyholders insured by motor insurance, there will be little change in 2016. About 14 percent of the vehicles are downgraded to a lower type class and 16 percent are upgraded . Significantly more changes are in the partial and comprehensive insurance. Almost every second vehicle gets a new type class. This means a better categorization in figures for 8.6 million vehicles in the fully comprehensive (VK) and for 5.3 million vehicles in the Teilkasko (TK) from next year. A worse, higher class, however, results for “just under 800,000 fully comprehensive and almost 300,000 partially covered cars”, so the GDV.

For example, these vehicles will be reclassified:

New type class 2016 motor insurance

  • Ford B-Max 1.0 (-2)
  • Audi A3 Sportback (-2)
  • Golf VII Estate TDI (-2)
  • Skoda Octavia 1.2 TSI (+1)
  • Mercedes C 180 (+3)
  • Kia Carens (+2)

New type class 2016 Motor vehicle insurance

  • Opel Mocha 1.6 (-3 VK, -1 TK)
  • Seat Leon 1.4 TSI (-3 VK)
  • Subaru Forester 2.0 D (-3 VK)
  • Nissan Qashqai 1.6 DCI (-4 VK)
  • Suzuki Alto 1.0 (-1 VK, 3 TK)
  • Range Rover Sport 3.0 TD (+2, +5 TK)
  • BMW 420 D Coupe (+2 VK)
  • Jaguar F-Type Roadster (+1 VK)
  • Mazda 3 FLH 2.0 (+5 VK)
  • Lexus RX450 Hybrid (+4 TK)
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Which type class does my car have 2016?

Anyone who wants to know which type of vehicle his vehicle will have in 2016 can turn to the type class index of the GDV. For this, owners need the key numbers of the manufacturer and the type that drivers find in the vehicle registration.

In order to determine the type class for the respective year, the vehicle damage and repair costs of the last three years are compared with those of previous years. If less damage has been regulated, the corresponding vehicle type will fall into a lower class. In case of more damage, an upgrade will take place. In addition to road accidents, car insurance, fires, broken windows and damage caused by natural disasters also play a role in the balance sheet of comprehensive insurance .

Here you can find tips and more information about car insurance.

They prepare the presentation of the first class action lawsuit against the IRPH of mortgages

Stop Desahucios se manifiesta frente a la sede de Kutxabank

Members of Kaleratzeak Stop Desahucios and IRPH-STOP of Guipúzcoa participate in a rally in front of the Kutxabank headquarters in San Sebastián. Juan Herrero / EFE

When hiring a mortgage almost all families opt to do so at a variable rate and linking to the Euribor. But this index is not the only one in the market. The second most used mortgage index in Spain is the Mortgage Loan Reference Index, the IRPH. However, this has been a trap for more than 1,300,000 families . Now comes the first class action against IRPH.

A family with IRPH pays about 200 euros more per month than the one that opted for the Euribor In November 2013, the Ministry of Economy repealed the old IRPH-Cajas and reformulated the calculation method of the IRPH-Banks, renamed IRPH -Entities . The IRPH fixes its value based on the interest applied by the financial institutions on mortgages granted for more than three years, including commissions.

In recent years has quoted around two points above the Euribor. For example, according to data from the Bank of Spain, the Euribor closed in July at -0.056% and IRPH did so at 2.007% after three months of increases. The consequence of all this is that each family that has signed their mortgage with IRPH pays at least 200 euros more per month than the one that opted for the Euribor.

In this scenario, the affected people were soon grouped. After many demonstrations, the first class action now comes. The Association of Financial Users (Asufin) completes the one that would become the first class action in Spain to demand the nullity of the IRPH and the return of the interest charged “in excess” . The association, which includes more than 2,000 people, has argued that the legislation is “absolutely clear” in this regard, so if the IRPH is considered abusive, its effects are “null” from the first moment and corresponds to the return of the money paid as interest.

The boxes imposed an abusive index on mortgages Asufin refers to several judicial rulings that have been given. In 2013, a judge in Collado Villalba (Madrid) suspended the execution of a home for non-payment of the mortgage, considering that the loan contract had abusive clauses. Among the conditions considered injurious to the mortgaged one, the magistrate included the IRPH , the index to which the credit was referenced. The sentence considered it abusive. It was the first time that a judicial ruling considers it so.

This same year, the Provincial Court of Álava annulled in a judgment the IRPH Entities to which the mortgage of a client was referenced and the IRPH Cajas established as a substitute index. The sentence condemned Kutxabank to return , retroactively, all the interest charged on the loan.

“The boxes not only abused the preferred ones, they also imposed an abusive index on the mortgages, the IRPH, which is causing serious damage to families,” denounces Asufin’s president, Patricia Suárez. The association foresees that the demand groups thousands of people affected . To facilitate this, he has created a website dedicated to the demand.

The IRPH reaches the parliaments

Last week ten parliamentary groups of Podemos registered in their respective chambers an initiative claiming to the Government of Spain the derogation of the Reference Index of Mortgage Loans , interest rate that they consider a “big scam” for “abusive, manipulable and opaque”. According to Podemos, banks raise this index to compensate for the drop in the Euribor, which means that people who have their mortgage referred to IRPH “pay more between 200 and 300 euros per month”, since they are at least two points above the Euribor, becoming “in many cases the gateway to eviction.”

The initiative of the purple party has already been approved in Cantabria and La Rioja , in both cases unanimously, and has also been presented in Aragon, the Balearic Islands, the Canary Islands, Castilla y León, Alava, Guipúzcoa, Murcia and the Valencian Community, pending debate .

More information about:

  • IRPH

The judge of the Invercaria case files the case against two accused for the aid to EDM

The judge in Seville investigating the irregularities in Invercaria has filed the case against two of the six charged for the participative loans worth 1,180,000 euros that this public venture capital investment company granted in 2008 to the company Electronics Devices Manufacturer SA (EDM).

The judge in Seville investigating the irregularities in Invercaria has filed the case against two of the six charged for the participative loans worth 1,180,000 euros that this public venture capital investment company granted in 2008 to the company Electronics Devices Manufacturer SA (EDM).

In this sense, sources of the case have indicated to Europa Press that the judge of Instruction number 16 of Seville, Juan Gutiérrez Casillas, has filed the case against Manuel Jesús Rodríguez Rodríguez, former director of investment analysis of Invercaria, and against Diego Ignacio Fernández Ramírez , who was part of the board of EDM.

The magistrate considers that none of them "has any connection or relationship" with the facts that are investigated in this separate piece, in which the former president of Invercaria Tomás Pérez-Sauquillo is accused.

Last week, Pérez-Sauquillo defended that Invercaria acted "correctly" by granting EDM two participative loans for a total of 1,180,000 euros, stating that it granted these grants "when the company had the best economic data", with eight million euros. euros of own funds and a turnover of around 52 million.

In this sense, Pérez-Sauquillo said that, against this, other entities granted loans for a total value of between 15 and 20 million euros to EDM, a company already extinct, at a time when it "presented worse economic data "that when Invercaria granted the two referred participative loans.

"I've been imputed for three years" and I still do not know why "

For all this, the former president of Invercaria asked himself "what economic interests" could be behind all this and said, likewise, that he has been imputed for three years in the case "and still does not know why".

We must remember that Pérez-Sauquillo is charged in the six separate pieces that the judge of the Invercaria case has opened up to now, as are the main cause and the pieces opened for the aid granted to Fumapa, Juana Martín, EDM, International Virtual Fairs of Andalusia (FIVA) and Andalusian Air Operators.

Three representatives of EDM are also charged in this case, among them the one who was the company's top shareholder and CEO, Juan Ruiz Cobo, who in his statement stated that he "knows" the former president of the Board of Directors Gaspar Zarrías – cited as imputed by the Supreme Court in the case of irregular EREs- and that "only maintained" with him "a conversation in July 2006" to the effect of EDM "

Specifically, and as he stated before Judge Juan Gutiérrez Casillas, he spoke with the ex-counselor "to set in motion the special employment centers," although he specified that in that conversation "Invercaria was never mentioned."

The police report

According to the report prepared by the Money Laundering Group of the National Police of Seville, consulted by Europa Press, Pérez-Sauquillo granted a first participatory loan of 450,000 euros to EDM, while the board of directors of Invercaria agreed to grant a second loan. participative amount of 730,000 euros on the same day as the first one.

According to the instructor, "for the granting of the analyzed loans has not been found, in the analyzed documentation, any investment proposal prepared by Invercaria, as well as no positive report of the investment committee", adding that, in the analysis documentation for this investment made by Invercaria, "the sales figures provided by EDM for 2008 are valid, despite the strong deviation observed in the first four months."

After noting that "this deviation is omitted in the proposal submitted by Invercaria for authorization to the IDEA Governing Council", the judge asserts that the first operation progress report (IPO) "is prepared the same month that EDM submits the declaration of competition of creditors and eight months after the granting of the loans ".

"serious irregularities"

This report, commissioned by Invercaria to Deloitte after the granting of the loans, "shows that, two months after said concession, the management of EDM and its group of companies show serious irregularities, as well as its precarious economic situation" , noting that said report "should have been made prior to the granting" of the loans.

In addition, the judge indicates that the commercial activity of EDM "was the object of investigation by the Tax Agency when detecting serious irregularities in billings with third parties", facts "that were brought to the attention of the judicial authority".

The instructor concludes that Invercaria granted two loans for an amount of 1,180,000 euros to EDM "without the preparation of a proposal and without a positive report of the investment to a company in which, in a report requested by Invercaria, it is detected, little more than two months after the financing was granted, serious irregularities in its management and an economic situation of such precariousness that, eight months after the financing, it presents bankruptcy. "

All this "without that both circumstances have been previously warned by Invercaria, and in which the commercial activity of the managers has had to be submitted to the judicial procedure," says the judge, who considers that there are indications that the accused may have incurred in crimes of embezzlement and falsehood.

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