Fueled Archives - Zxcoachoutlet

Fueled by Free Money, a Tiny Lender Is Snapping Up PPP Loans

October 2, 2020

Luke LaHaie is on no one’s list of Wall Street heavy-hitters. But from the comfort of his Chicago condo, he’s just become the biggest player in a hot new thing in American finance: pandemic relief loans.

His little-known firm, The Loan Source, has scooped up $3.3 billion of small-business loans issued under the federal Paycheck Protection Program. LaHaie, 35, is racing to buy even more.

The Loan Source is part of a largely hidden ecosystem that’s sprung up around the PPP program, which was designed to keep small businesses afloat. It’s capitalizing on free money from the Federal Reserve to buy PPP loans from the banks that actually lent out the money, with the goal of eking out a small profit in the unglamorous business of servicing the debt.

LaHaie is one of the new breed of pandemic pros who are trying to make a little money off the PPP

Volkswagen Tries to Change Workplace Culture That Fueled Emissions Scandal

September 30, 2020

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Volkswagen AG

is betting that a reformed compliance culture and an expanded whistleblower program that helped the German car maker clear a critical U.S. regulatory milestone this month will also help prevent another scandal and go a long way in restoring its reputation.

The car maker has spent the past few years trying to resolve issues related to its 2015 admission that it rigged about 11 million of its diesel vehicles world-wide with software to dodge government emissions tests, a revelation that came after U.S. regulators alleged that Volkswagen installed software to make cars appear to run cleaner.

The company says its yearslong, multipronged transformation and ongoing surveillance are essential to its survival. Getting that point across to employees is easier when you can put a price tag on noncompliance: €32 billion ($37.56 billion) in fines, penalties and compensation to customers, said Hiltrud D. Werner, the member of Volkswagen’s board

Spruce Partners with Munich Re’s Digital Partners to Offer Title Insurance Fueled by Automation; Featuring New Consumer Pricing

September 29, 2020

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NEW YORK, Sept. 29, 2020 /PRNewswire/ — Spruce, the proptech company powering online real estate transactions nationwide, today announced its partnership with Munich Re, one of the world’s leading reinsurers, to bring cost-effective title insurance fueled by automation to the U.S. market.

The partnership pairs Munich Re’s technical and risk expertise and financial strength with Spruce’s agility and proprietary API-driven technology to help solve a historically stagnant aspect of the title insurance and mortgage industries: price. In addition, U.S. homeowners, investors, and lenders will continue to have access to Spruce’s digital real estate transaction process.

“The consumer experience is at the core of our mission and values,” said Patrick Burns, Spruce CEO and co-founder. “Our automated underwriting paired with the backing and security of Munich Re allows us to offer lower pricing for title insurance and a best-in-class experience for lenders, real estate companies, and consumers. As

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