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Bank of America to offer payday-style loans that cost just $5. Here’s how they work.

Bank of America will begin to offer small, short-term loans to cash-strapped customers, the Charlotte-based bank announced Thursday, a move that could upend the market for short-term loans.



a sign on the side of a building: Bank of America


© Handout/Dreamstime/TNS
Bank of America

The loans, called Balance Assist, will have a $500 limit, and will only be available to people who have had a checking account at the bank for at least a year. The roll-out will start in a handful of to-be-announced states by January 2021 before expanding to the rest of the country early next year.

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The move makes Bank of America — with its tens of millions of customers — one of the biggest financial institutions to have a small-dollar consumer loan.

It’s a space historically dominated by payday lenders and other consumer finance outlets, who gained seedy reputations for their high fees. Regulators have urged banks to get into small-dollar lending for years, and

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wedding

How Much Does a Disney Wedding Cost?

If you dream of a magical wedding straight out of a fairy tale, look no further than Disney. You can be a princess for a day with an intimate ceremony or grand celebration with Mickey on the guest list, Cinderella’s Castle as your backdrop, and the crystal coach as your getaway car. You can make your wedding an immersive, destination event in a European courtyard, tropical forest, or a postcard-worthy beach.

Disney Fairy Tale Weddings has four destinations on both coasts—including one on the water. You may wed at Walt Disney World Resort in Florida, Disneyland Resort California, on a white-sand Hawaiian beach at Aulani, a Disney Resort & Spa, or sail the high seas on the luxurious Disney Cruise Line.

Plus, Disney parks and resorts have entire teams dedicated to making your dreams a reality with planners, fantasy cake makers, and even a dress collection. Here’s what you need

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model

How Maryland’s Total Cost Of Care Model Has Helped Hospitals Manage The COVID-19 Stress Test

The Maryland Total Cost of Care (TCOC) model, one of the nation’s most innovative advanced alternative payment models, is about to enter year three. This demonstration and partnership with Centers for Medicare and Medicaid Services (CMS) is testing hospital global budgets, as evolved from its 2014 beginnings, and is guided by the state’s Health Services Cost Review Commission (HSCRC).

We believe the COVID-19 pandemic represents an important opportunity to assess this global budget model under stress—with implications for future health care financing. One of us (Chris L. Peterson) served as the principal deputy director of payment reform and provider alignment at the HSCRC from 2016 to 2020. The other (Dale N. Schumacher) has represented hospital medical staff in prospective payment negotiations with the HSCRC and has published analyses of Maryland hospital performance. In this post, we describe how the TCOC model has provided flexibility and stability to Maryland’s private-sector hospitals

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Tesla Model 3 crushes Dodge Charger in 1-year review of cost of operation as police car

Tesla Model 3 is crushing Dodge Charger as a police car when it comes to the cost of ownership as the Bargersville Police Chief who pushed to electrify his fleet shares a 1-year review of the cost of operation.

Last year, we reported on the Bargersville, Indiana, police department updating their fleet with Tesla Model 3 vehicles.

Bargersville Police Chief Todd Bertram commented at the time:

Two big things that we were looking at when shopping for cars were obviously cost and performance. Many times when you get a car that is in our cost price range, you sacrifice performance. With Tesla, the performance is better than the cars we are currently driving. It’s amazing, it’s smooth, it’s powerful, it handles great.

The Model 3s replaced Dodge Chargers, so performance was not going to be an issue.

As for cost, Tesla also has a significant lead. The Model 3 Standard

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Tesla Model 3 with 100,000 miles shows extreme low cost and minimal battery degradation

Today we take a look at one of the first Tesla Model 3 cars with 100,000 miles, and the owner’s experience with service, maintenance, and battery degradation.

There are quite a few high-mileage Tesla vehicles out there.

I have a Tesla Model X with over 400,000 miles on it.

But there are not that many Model 3 and Model Y vehicles, which are Tesla’s latest-generation vehicles, with 6-figure mileage yet.

Kazi Imam has one of the first Model 3s with more than 100,000 miles, and he talked to Electrek about his experience with the electric car to date.

He put 100,000 miles on the 2018 Model 3 Long Range in just over two years:

Imam told Electrek that he was quite impressed by the cost of ownership of the Model 3.

Over 100,000 miles, which would take the average driver six years to travel, the Model 3 only cost him

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