Tag: loans

October 10, 2020

Woman loans designer wedding dress to other brides for free

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A woman in Minneapolis wants to help other brides feel special on their wedding day by loaning out her designer dress. 

Last week, Tina Nguyen posted a photo of her wedding dress on Facebook Marketplace offering to lend it to other women for free.

“I absolutely loved my wedding dress, it was one of the best parts of being a bride,” she wrote in her ad. “If you are planning your wedding, or know someone who is, and can not afford a wedding dress, please connect with me. I’ll lend my dress for the bride for her big day.”

The dress is a Paloma Blanca, she said in her ad. It is made with three layers of silk and costs more than $2,000, according to Minneapolis television station KARE 11. 

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Nguyen wore the dress when she got married last year

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October 8, 2020

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

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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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