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  • MIL-OSI: Zscaler Reports Third Quarter Fiscal 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Third Quarter Highlights

    • Revenue grows 23% year-over-year to $678.0 million
    • Calculated billings grows 25% year-over-year to $784.5 million
    • Deferred revenue grows 26% year-over-year to $1,985.0 million
    • GAAP net loss of $4.1 million compared to GAAP net income of $19.1 million on a year-over-year basis
    • Non-GAAP net income of $136.8 million compared to non-GAAP net income of $113.0 million on a year-over-year basis

    SAN JOSE, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its third quarter of fiscal year 2025, ended April 30, 2025.

    “We delivered outstanding Q3 results as an increasing number of customers adopt our expanding Zero Trust Exchange platform. We enable customers to realize Zero Trust Everywhere while lowering operational cost and complexity,” said Jay Chaudhry, Chairman and CEO of Zscaler. “The proliferation of AI in all aspects of business is increasing the need for our AI security. We empower customers to securely adopt both public GenAI apps and their own private AI apps, and we are increasing our investments in this area.”

    Third Quarter Fiscal 2025 Financial Highlights

    • Revenue: $678.0 million, an increase of 23% year-over-year.
    • Income (loss) from operations: GAAP loss from operations was $25.4 million, or 4% of revenue, compared to $3.0 million, or 1% of revenue, in the third quarter of fiscal 2024. Non-GAAP income from operations was $146.7 million, or 22% of revenue, compared to $121.8 million, or 22% of revenue, in the third quarter of fiscal 2024.
    • Net income (loss): GAAP net loss was $4.1 million, compared to GAAP net income of $19.1 million in the third quarter of fiscal 2024. Non-GAAP net income was $136.8 million, compared to $113.0 million in the third quarter of fiscal 2024.
    • Net income (loss) per share, diluted: GAAP net loss per share was $0.03, compared to GAAP net income per share of $0.12 in the third quarter of fiscal 2024. Non-GAAP net income per share was $0.84, compared to $0.71 in the third quarter of fiscal 2024.
    • Cash flows: Cash provided by operations was $211.1 million, or 31% of revenue, compared to $173.4 million, or 31% of revenue, in the third quarter of fiscal 2024. Free cash flow was $119.5 million, or 18% of revenue, compared to $123.1 million, or 22% of revenue, in the third quarter of fiscal 2024.
    • Deferred revenue: $1,985.0 million as of April 30, 2025, an increase of 26% year-over-year.
    • Cash, cash equivalents and short-term investments: $3,005.6 million as of April 30, 2025, an increase of $595.9 million from July 31, 2024.

    Recent Business Highlights

    • Announced the appointment of Kevin Rubin as Chief Financial Officer. Rubin brings over two decades of experience leading finance organizations at high-growth public and private companies.
    • Announced the appointment of Raj Judge to the Board of Directors, and as EVP of Corporate Strategy & Ventures. Judge brings over 25 years of experience in the tech legal and venture capital space.
    • In May 2025, signed a definitive agreement to acquire Red Canary, a leading managed detection and response (MDR) vendor. By combining Zscaler’s high-volume and high-quality data with Red Canary’s domain expertise in MDR, Zscaler will accelerate its vision to deliver AI-powered security operations.
    • Recognized as a Leader in the 2025 Gartner® Magic Quadrant™ for Security Service Edge (SSE) for the fourth year in a row.
    • Positioned as a Leader in the IDC MarketScape: Worldwide Data Loss Prevention (DLP) 2025 Vendor Assessment, which offers a comprehensive evaluation of nine companies in the competitive DLP space based on detailed analysis of vendor capabilities and performance and market trajectories.
    • Introduced Zscaler Asset Exposure Management, a critical foundation of the company’s broader Continuous Threat Exposure Management (CTEM) offerings. Asset Exposure Management provides organizations with a comprehensive and accurate inventory of their assets and their risk.
    • Zscaler’s ThreatLabz published several research reports, including the 2025 AI Security Report, the 2025 VPN Risk Report, and the 2025 Phishing Report.
      • The 2025 AI Security Report found that enterprises’ usage of AI/ML tools increased by over 3,000% in the past year, reinforcing the need to deploy Zero Trust Everywhere to stay ahead of rapidly evolving cyberthreats.
      • The 2025 VPN Risk Report found that 92% of organizations are concerned about ransomware attacks due to VPN vulnerabilities, and 81% of organizations are planning to implement a zero trust everywhere strategy.
      • The 2025 Phishing Report found that attackers are using GenAI to launch targeted attacks against high-impact business functions like HR and finance, making a Zero Trust + AI defense strategy mission critical for organizations.
    • Announced T-Mobile modernized its infrastructure with Zscaler’s Zero Trust Exchange to provide Zero Trust security to its employees and team members whether they are in the office, at home or on the go.
    • Announced the inclusion of Zscaler solutions in the AWS Marketplace for the U.S. Intelligence Community (ICMP), a curated digital catalog from Amazon Web Services (AWS) that makes it easy to discover, purchase, and deploy software packages and applications from vendors that specialize in supporting government customers.

    Change in Non-GAAP Measures Presentation

    Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.

    Financial Outlook

    For the fourth quarter of fiscal 2025, we expect:

    • Revenue of $705 million to $707 million
    • Non-GAAP income from operations of $152 million to $154 million
    • Non-GAAP net income per share of approximately $0.79 to $0.80, assuming approximately 164 million fully diluted shares outstanding and a non-GAAP tax rate of 23%

    For the full year of fiscal 2025, we expect:

    • Revenue of approximately $2.659 billion to $2.661 billion
    • Calculated billings of $3.184 billion to $3.189 billion
    • Non-GAAP income from operations of $573 million to $575 million
    • Non-GAAP net income per share of $3.18 to $3.19, assuming approximately 163 million fully diluted shares outstanding and a non-GAAP tax rate of 23%

    These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.

    Guidance for non-GAAP income from operations excludes stock-based compensation expense and related employer payroll taxes, amortization of debt issuance costs, and amortization expense of acquired intangible assets. We have not reconciled our expectations of non-GAAP income from operations and non-GAAP net income per share to their most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. For those reasons, we are also unable to address the probable significance of the unavailable information, the variability of which may have a significant impact on future results. Accordingly, a reconciliation for the guidance for non-GAAP income from operations and non-GAAP net income per share is not available without unreasonable effort.

    For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the “Explanation of Non-GAAP Financial Measures” section of this press release.

    Conference Call and Webcast Information

    Zscaler will host a conference call for analysts and investors to discuss its third quarter of fiscal 2025 and outlook for its fourth quarter of fiscal 2025 and full year fiscal 2025 today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time).

    Date: Thursday, May 29, 2025
    Time: 1:30 p.m. PT
    Webcast: https://ir.zscaler.com
    Dial-in: To join by phone, register at the following link: (https://register-conf.media-server.com/register/BIa63048e1e74d49ad9d61c0370b786cbb. After registering, you will be provided with a dial-in number and a personal PIN that you will need to join the call.


    Upcoming Conferences

    Fourth quarter of fiscal 2025 investor conference participation schedule:

    • Bank of America 2025 Global Technology Conference in San Francisco
      Thursday, June 5, 2025
    • FBN 28th Semi-Annual Virtual Technology Conference (Virtual)
      Friday, June 6, 2025
    • 2025 BMO Virtual Software Conference (Virtual)
      Monday, June 9, 2025

    Sessions which offer a webcast will be available on the Investor Relations section of the Zscaler website at https://ir.zscaler.com/

    Forward-Looking Statements

    This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding our future financial and operating performance, including our financial outlook for the fourth quarter of fiscal 2025 and full year fiscal 2025. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including but not limited to: macroeconomic influences and instability, geopolitical events, operations and financial results and the economy in general; risks related to the use of AI in our platform; our ability to identify and effectively implement the necessary changes to address execution challenges; risks associated with managing our rapid growth, including fluctuations from period to period; our limited experience with new products and subscriptions and support introductions and the risks associated with new products and subscription and support offerings, including the discovery of software bugs; our ability to attract and retain new customers; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support; rapidly evolving technological developments in the market for network security products and subscription and support offerings and our ability to remain competitive; length of sales cycles; useful lives of our assets and other estimates; and general market, political, economic and business conditions.

    Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in our filings and reports with the Securities and Exchange Commission (“SEC”), including our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2025 filed on March 10, 2025 and our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 filed on September 12, 2024, as well as future filings and reports by us, copies of which are available on our website at ir.zscaler.com and on the SEC’s website at www.sec.gov. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    Use of Non-GAAP Financial Information

    We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the “Explanation of Non-GAAP Financial Measures” section of this press release.

    About Zscaler

    Zscaler (Nasdaq: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 160 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

    Zscaler™ and the other trademarks listed at https://www.zscaler.com/legal/trademarks are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.

    Investor Relations Contacts

    Ashwin Kesireddy
    VP, Investor Relations and Strategic Finance
    (415) 798-1475
    ir@zscaler.com

    Natalia Wodecki
    Media Relations Contact
    press@zscaler.com

    ZSCALER, INC.
    Condensed Consolidated Statements of Operations
    (in thousands, except per share amounts)
    (unaudited)
                   
      Three Months Ended   Nine Months Ended
      April 30,   April 30,
        2025       2024       2025       2024  
    Revenue $ 678,034     $ 553,201     $ 1,953,889     $ 1,574,903  
    Cost of revenue (1) (2)   155,978       118,331       445,938       346,924  
    Gross profit   522,056       434,870       1,507,951       1,227,979  
    Operating expenses:              
    Sales and marketing (1) (2)   314,605       262,447       928,564       806,039  
    Research and development (1) (2)   169,765       124,958       494,879       360,678  
    General and administrative (1)   63,097       50,478       180,726       155,789  
    Total operating expenses   547,467       437,883       1,604,169       1,322,506  
    Loss from operations   (25,411 )     (3,013 )     (96,218 )     (94,527 )
    Interest income   31,263       27,570       92,189       81,897  
    Interest expense (3)   (1,966 )     (2,764 )     (7,448 )     (9,528 )
    Other income (expense), net   677       (927 )     (4,911 )     (1,967 )
    Income (loss) before income taxes   4,563       20,866       (16,388 )     (24,125 )
    Provision for income taxes (4)   8,688       1,742       7,512       18,703  
    Net income (loss) $ (4,125 )   $ 19,124     $ (23,900 )   $ (42,828 )
    Net income (loss) per share              
    Basic $ (0.03 )   $ 0.13     $ (0.16 )   $ (0.29 )
    Diluted $ (0.03 )   $ 0.12     $ (0.16 )   $ (0.29 )
    Weighted-average shares used in computing net income (loss) per share              
    Basic   154,909       150,290       153,699       148,945  
    Diluted   154,909       154,081       153,699       148,945  
                                   
    (1) Includes stock-based compensation expense and related payroll taxes as follows:  
    Cost of revenue $ 18,262     $ 12,487     $ 51,674     $ 38,876  
    Sales and marketing   63,937       45,490       198,782       170,013  
    Research and development   63,753       46,346       188,514       131,509  
    General and administrative   21,857       17,142       65,769       59,332  
    Total $ 167,809     $ 121,465     $ 504,739     $ 399,730  
                                   
    (2) Includes amortization expense of acquired intangible assets as follows:  
    Cost of revenue $ 3,830     $  2,962     $ 11,320     $  8,396  
    Sales and marketing   425       279       1,275       731  
    Research and development    —       140       145        373  
    Total $ 4,255     $  3,381     $ 12,740     $  9,500  
                                   
    (3) Includes amortization of debt issuance costs $  984     $  979     $  2,947     $ 2,934  
                                   
    (4) Benefit from a release of valuation allowance (*) $ 247     $  —     $ 17,435     $ —  
                                   
    (*) Tax benefit attributable to the release of the valuation allowance on United Kingdom (U.K.) deferred tax assets.  
    ZSCALER, INC.
    Condensed Consolidated Balance Sheets
    (in thousands)
    (unaudited)
      April 30,   July 31,
        2025       2024  
    Assets      
    Current assets:      
    Cash and cash equivalents $ 1,990,890     $ 1,423,080  
    Short-term investments   1,014,701       986,574  
    Accounts receivable, net   615,787       736,529  
    Deferred contract acquisition costs   165,752       148,873  
    Prepaid expenses and other current assets   128,271       101,561  
    Total current assets   3,915,401       3,396,617  
    Property and equipment, net   498,896       383,121  
    Operating lease right-of-use assets   71,351       89,758  
    Deferred contract acquisition costs, noncurrent   298,133       296,525  
    Acquired intangible assets, net   51,403       63,835  
    Goodwill   417,730       417,029  
    Other noncurrent assets   86,714       58,083  
    Total assets $ 5,339,628     $ 4,704,968  
           
    Liabilities and Stockholders’ Equity      
    Current liabilities:      
    Accounts payable $ 54,609     $ 23,309  
    Accrued expenses and other current liabilities   84,666       91,708  
    Accrued compensation   155,117       160,810  
    Deferred revenue   1,677,895       1,643,919  
    Convertible senior notes   1,148,881       1,142,275  
    Operating lease liabilities   47,231       50,866  
    Total current liabilities   3,168,399       3,112,887  
    Deferred revenue, noncurrent   307,090       251,055  
    Operating lease liabilities, noncurrent   32,703       44,824  
    Other noncurrent liabilities   26,497       22,100  
    Total liabilities   3,534,689       3,430,866  
    Stockholders’ Equity      
    Common stock   156       152  
    Additional paid-in capital   2,960,521       2,426,819  
    Accumulated other comprehensive income (loss)   16,242       (4,789 )
    Accumulated deficit   (1,171,980 )     (1,148,080 )
    Total stockholders’ equity   1,804,939       1,274,102  
    Total liabilities and stockholders’ equity $ 5,339,628     $ 4,704,968  
    ZSCALER, INC.
    Condensed Consolidated Statements of Cash Flows
    (in thousands)
    (unaudited)
      Nine Months Ended
      April 30,
        2025       2024  
    Cash Flows from Operating Activities      
    Net loss $ (23,900 )   $ (42,828 )
    Adjustments to reconcile net loss to cash provided by operating activities:      
    Depreciation and amortization expense   74,101       47,033  
    Amortization expense of acquired intangible assets   12,740       9,500  
    Amortization of deferred contract acquisition costs   121,499       94,711  
    Amortization of debt issuance costs   2,947       2,934  
    Non-cash operating lease costs   47,896       34,913  
    Stock-based compensation expense   488,696       382,806  
    Accretion of investments purchased at a discount   (13,862 )     (14,584 )
    Unrealized (gains) losses on hedging transactions   (862 )     1,574  
    Deferred income taxes   (17,841 )     (5,769 )
    Other   1,059       1,717  
    Changes in operating assets and liabilities, net of effects of business acquisitions:      
    Accounts receivable   120,506       78,406  
    Deferred contract acquisition costs   (139,986 )     (122,651 )
    Prepaid expenses, other current and noncurrent assets   (12,182 )     (23,452 )
    Accounts payable   28,947       7,520  
    Accrued expenses, other current and noncurrent liabilities   (7,033 )     14,647  
    Accrued compensation   (5,693 )     12,816  
    Deferred revenue   90,011       132,354  
    Operating lease liabilities   (45,194 )     (35,358 )
    Net cash provided by operating activities   721,849       576,289  
    Cash Flows from Investing Activities      
    Purchases of property, equipment and other assets   (104,206 )     (95,204 )
    Capitalized internal-use software   (62,871 )     (32,453 )
    Payments for business acquisitions, net of cash acquired   (834 )     (361,781 )
    Purchase of strategic investments   (786 )     (2,000 )
    Purchases of short-term investments   (886,636 )     (1,003,972 )
    Proceeds from maturities of short-term investments   875,893       839,253  
    Proceeds from sale of short-term investments   —       47,165  
    Net cash used in investing activities   (179,440 )     (608,992 )
    Cash Flows from Financing Activities      
    Proceeds from issuance of common stock upon exercise of stock options   3,497       11,287  
    Proceeds from issuance of common stock under the employee stock purchase plan   22,344       18,407  
    Payment of deferred consideration related to business acquisitions   (440 )     —  
    Net cash provided by financing activities   25,401       29,694  
    Net increase (decrease) in cash and cash equivalents   567,810       (3,009 )
    Cash and cash equivalents at beginning of period   1,423,080       1,262,206  
    Cash and cash equivalents at end of period $ 1,990,890     $ 1,259,197  
    ZSCALER, INC.
    Reconciliation of GAAP to Non-GAAP Financial Measures
    (in thousands, except percentages)
    (unaudited)
                   
      Three Months Ended   Nine Months Ended
      April 30,   April 30,
        2025       2024       2025       2024  
                   
    Revenue $ 678,034     $ 553,201     $ 1,953,889     $ 1,574,903  
                   
    Non-GAAP Gross Profit and Non-GAAP Gross Margin              
    GAAP gross profit $ 522,056     $ 434,870     $ 1,507,951     $ 1,227,979  
    Add: Stock-based compensation expense and related payroll taxes   18,262       12,487       51,674       38,876  
    Add: Amortization expense of acquired intangible assets   3,830       2,962       11,320       8,396  
    Non-GAAP gross profit $ 544,148     $ 450,319     $ 1,570,945     $ 1,275,251  
    GAAP gross margin   77 %     79 %     77 %     78 %
    Non-GAAP gross margin   80 %     81 %     80 %     81 %
                   
    Non-GAAP Income from Operations and Non-GAAP Operating Margin              
    GAAP loss from operations $ (25,411 )   $ (3,013 )   $ (96,218 )   $ (94,527 )
    Add: Stock-based compensation expense and related payroll taxes   167,809       121,465       504,739       399,730  
    Add: Amortization expense of acquired intangible assets   4,255       3,381       12,740       9,500  
    Non-GAAP income from operations $ 146,653     $ 121,833     $ 421,261     $ 314,703  
    GAAP operating margin (4 )%   (1 )%   (5 )%   (6 )%
    Non-GAAP operating margin   22 %     22 %     22 %     20 %
    ZSCALER, INC.
    Reconciliation of GAAP to Non-GAAP Financial Measures
    (in thousands, except per share amounts)
    (unaudited)
                   
      Three Months Ended   Nine Months Ended
      April 30,   April 30,
        2025       2024       2025       2024  
    Non-GAAP Net Income per Share, Diluted              
    GAAP net income (loss) $ (4,125 )   $ 19,124     $ (23,900 )   $ (42,828 )
    Add: GAAP provision for income taxes   8,688       1,742       7,512       18,703  
    GAAP income (loss) before income taxes   4,563       20,866       (16,388 )     (24,125 )
    Add:              
    Stock-based compensation expense and related payroll taxes   167,809       121,465       504,739       399,730  
    Amortization expense of acquired intangible assets   4,255       3,381       12,740       9,500  
    Amortization of debt issuance costs   984       979       2,947       2,934  
    Non-GAAP net income before income taxes   177,611       146,691       504,038       388,039  
    Non-GAAP provision for income taxes (1)   40,844       33,739       115,927       89,249  
    Non-GAAP net income $ 136,767     $ 112,952     $ 388,111     $ 298,790  
                   
    GAAP provision for income taxes $ 8,688     $ 1,742     $ 7,512     $ 18,703  
    Add: Income tax and other tax adjustments (2)   32,156       31,997       108,415       70,546  
    Non-GAAP provision for income taxes (1) $ 40,844     $ 33,739     $ 115,927     $ 89,249  
    Non-GAAP effective tax rate (1)   23 %     23 %     23 %     23 %
                   
    Non-GAAP net income $ 136,767     $ 112,952     $ 388,111     $ 298,790  
    Add: Non-GAAP interest expense, net of tax related to the convertible senior notes   276       276       828       828  
    Numerator used in computing non-GAAP net income per share, diluted $ 137,043     $ 113,228     $ 388,939     $ 299,618  
                   
    GAAP net income (loss) per share, diluted $ (0.03 )   $ 0.12     $ (0.16 )   $ (0.29 )
    Stock-based compensation expense and related payroll taxes   1.03       0.76       3.10       2.51  
    Amortization expense of acquired intangible assets   0.03       0.02       0.08       0.06  
    Amortization of debt issuance costs   0.01       0.01       0.02       0.02  
    Income tax and other tax adjustments (2)   (0.20 )     (0.20 )     (0.67 )     (0.44 )
    Non-GAAP interest expense, net of tax related to the convertible senior notes   —       —       0.01       0.01  
    Adjustment to total fully diluted earnings per share (3)   —       —       0.01       0.01  
    Non-GAAP net income per share, diluted $ 0.84     $ 0.71     $ 2.39     $ 1.88  
                   
    Weighted-average shares used in computing GAAP net income (loss) per share, diluted   154,909       154,081       153,699       148,945  
    Add: Outstanding potentially dilutive equity incentive awards   2,812       —       3,113       4,306  
    Add: Convertible senior notes   7,626       7,626       7,626       7,626  
    Less: Antidilutive impact of capped call transactions (4)   (1,946 )     (2,050 )     (1,656 )     (1,539 )
    Weighted-average shares used in computing non-GAAP net income per share, diluted   163,401       159,657       162,782       159,338  

    ___________

    (1) Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.

    (2) Consists of income tax adjustments related to our long-term non-GAAP effective tax rate of 23%. In the three and nine months ended April 30, 2025, we recognized a tax benefit of $0.2 million and $17.4 million, respectively, attributable to the release of the valuation allowance on U.K. deferred tax assets.

    (3) The sum of the fully diluted earnings per share impact of individual reconciling items may not total to fully diluted non-GAAP net income per share due to the weighted-average shares used in computing the GAAP net loss per share differs from the weighted-average shares used in computing the non-GAAP net income per share, and due to rounding of the individual reconciling items. The GAAP net loss per share calculation uses a lower share count as it excludes potentially dilutive shares, which are included in calculating the non-GAAP net income per share.

    (4) We exclude the in-the-money portion of the convertible senior notes for non-GAAP weighted-average diluted shares as they are covered by our capped call transactions. Our outstanding capped call transactions are antidilutive under GAAP but are expected to mitigate the dilutive effect of the convertible senior notes and therefore are included in the calculation of non-GAAP diluted shares outstanding. The capped calls have an antidilutive impact when the average stock price of our common stock in a given period is higher than their exercise price.

    ZSCALER, INC.
    Reconciliation of GAAP to Non-GAAP Financial Measures
    (in thousands, except percentages)
    (unaudited)
                   
      Three Months Ended   Nine Months Ended
      April 30,   April 30,
        2025       2024       2025       2024  
    Calculated Billings              
    Revenue $ 678,034     $ 553,201     $ 1,953,889     $ 1,574,903  
    Add: Total deferred revenue, end of period   1,984,985       1,577,014       1,984,985       1,577,014  
    Less: Total deferred revenue, beginning of period   (1,878,505 )     (1,502,175 )     (1,894,974 )     (1,439,676 )
    Calculated billings $ 784,514     $ 628,040     $ 2,043,900     $ 1,712,241  
                   
    Free Cash Flow              
    Net cash provided by operating activities $ 211,081     $ 173,414     $ 721,849     $ 576,289  
    Less: Purchases of property, equipment and other assets   (72,163 )     (35,651 )     (104,206 )     (95,204 )
    Less: Capitalized internal-use software   (19,455 )     (14,637 )     (62,871 )     (32,453 )
    Free cash flow $ 119,463     $ 123,126     $ 554,772     $ 448,632  
                   
    Free Cash Flow Margin              
    Net cash provided by operating activities, as a percentage of revenue   31 %     31 %     37 %     37 %
    Less: Purchases of property, equipment and other assets, as a percentage of revenue (10 )%   (6 )%   (6 )%   (6 )%
    Less: Capitalized internal-use software, as a percentage of revenue (3 )%   (3 )%   (3 )%   (3 )%
    Free cash flow margin   18 %     22 %     28 %     28 %


    ZSCALER, INC.
    Explanation of Non-GAAP Financial Measures

    In addition to our results determined in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, as it has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In particular, free cash flow is not a substitute for cash provided by operating activities. Additionally, the utility of free cash flow as a measure of our liquidity is further limited as it does not represent the total increase or decrease in our cash balance for a given period. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation of our historical non-GAAP financial measures to their most directly comparable financial measures stated in accordance with GAAP has been included in this press release. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. Investors are encouraged to review these reconciliations, and not to rely on any single financial measure to evaluate our business.

    Expenses Excluded from Non-GAAP Measures

    Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer payroll taxes related to stock-based compensation, which is a cash expense, are excluded because these are tied to the timing and size of the exercise or vesting of the underlying equity incentive awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business. Amortization expense of acquired intangible assets and amortization of debt issuance costs from the convertible senior notes are excluded because these are non-cash expenses and are not reflective of our ongoing operational performance.

    Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change.

    Non-GAAP Financial Measures

    Non-GAAP Gross Profit and Non-GAAP Gross Margin. We define non-GAAP gross profit as GAAP gross profit excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue.

    Non-GAAP Income from Operations and Non-GAAP Operating Margin. We define non-GAAP income from operations as GAAP loss from operations excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP operating margin as non-GAAP income from operations as a percentage of revenue.

    Non-GAAP Net Income per Share, Diluted. We define non-GAAP net income as GAAP net income (loss) excluding stock-based compensation expense and related employer payroll taxes, amortization expense of acquired intangible assets, amortization of debt issuance costs, and the non-GAAP provision for income taxes adjustment. We define non-GAAP net income per share, diluted, as non-GAAP net income plus the non-GAAP interest expense related to the convertible senior notes divided by the weighted-average diluted shares outstanding, which includes the effect of potentially diluted common stock equivalents outstanding during the period and the anti-dilutive impact of the capped call transactions entered into in connection with the convertible senior notes.

    Calculated Billings. We define calculated billings as revenue plus the change in deferred revenue in a period. Calculated billings in any particular period aims to reflect amounts invoiced for subscriptions to access our cloud platform, together with related support services for our new and existing customers. We typically invoice our customers annually in advance, and to a lesser extent quarterly in advance, monthly in advance or multi-year in advance.

    Free Cash Flow and Free Cash Flow Margin. We define free cash flow as net cash provided by operating activities less purchases of property, equipment and other assets and capitalized internal-use software. We define free cash flow margin as free cash flow divided by revenue. We believe that free cash flow and free cash flow margin are useful indicators of liquidity that provide information to management and investors about the amount of cash generated from our operations that, after the investments in property, equipment and other assets and capitalized internal-use software, can be used for strategic initiatives.

    The MIL Network –

  • MIL-OSI: RBB Bancorp Announces $18 Million Stock Repurchase Plan

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, May 29, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ: RBB) and its subsidiaries, Royal Business Bank (“the Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as “the Company”, announced that its Board of Directors authorized a stock repurchase plan providing for the repurchase of up to $18 million of the Company’s outstanding common stock through June 30, 2026.

    The repurchase plan permits shares to be purchased in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rules 10b5-1 and 10b-18 of the Securities and Exchange Commission. The authorized repurchase plan may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase plan does not obligate the Company to purchase any particular number of shares.

    Corporate Overview

    RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of March 31, 2025, the Company had total assets of $4.0 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to Asian-centric communities through 24 full-service branches across 6 states including California, Nevada, New York, New Jersey, Illinois, and Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

    Safe Harbor

    Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (“U.S.”) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

    Contact:
    Lynn Hopkins
    Chief Financial Officer
    (213) 716-8066

    The MIL Network –

  • MIL-OSI Security: Maryland woman sentenced to four years in prison for scheme to use stolen identities to purchase vehicles

    Source: Office of United States Attorneys

    ALEXANDRIA, Va. – A Maryland woman was sentenced yesterday to four years in prison for bank fraud, aggravated identity theft, and possession of a firearm by a convicted felon.

    According to court documents, on Nov. 23, 2022, Loryn Michelle Dorsey, 36, of Elkridge, Maryland, fraudulently obtained the personal identifying information (PII) of two victims, identified as K.R. and Z.B, due to their high credit scores, which she needed to fraudulently obtain a loan from a bank to purchase a vehicle. Dorsey also assumed the fake identity of “Julia Ball,” who is not a real person.

    On December 6, 2022, Dorsey used K.R.’s PII to apply online for financing to purchase a vehicle from a car dealership in Fairfax, falsely presenting herself as K.R., a female. The dealership then submitted the information to financial institutions to provide the requested credit. Ally Bank, among others, received but rejected the application, but no loan was awarded, and no vehicle was purchased.

    Later that day, Dorsey again attempted to obtain approval for financing to purchase a vehicle from the same dealership, this time applying with Z.B. as the co-purchaser and “Julia Ball” as the co-owner. Through the dealership’s website, Dorsey was granted conditional approval of a loan from Ally Bank based on Z.B.’s good credit rating. Because Z.B. had to be present to complete the purchase, and because Z.B. is a man, Dorsey asked a coconspirator to accompany her to the dealership and fraudulently present himself as Z.B. Dorsey also arranged for someone to create a fraudulent identification document with Z.B.’s information and the co-conspirator’s photograph.

    Dorsey and the co-conspirator, at Dorsey’s direction, completed paperwork to purchase a 2015 Cadillac Escalade for $48,629.20, with $1,000 cash downpayment provided by Dorsey and the remaining sum of $47,629.20 to be financed by Ally Bank. Fairfax County Police (FCPD) arrived at the dealership after the paperwork was completed. When Dorsey was arrested, she was in possession of a firearm. In 2016, Dorsey was convicted of possession with the intent to distribute a controlled substance in Maryland. As a previously convicted felon, Dorsey cannot legally possess a firearm or ammunition.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; and Emily Odom, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division, and Kevin Davis, Fairfax County Chief of Police, made the announcement after sentencing by Senior U.S. District Judge Anthony J. Trenga.

    FCPD Auto Crimes Enforcement and the FBI WFO TOC-E/Major Theft Task Force investigated this case.

    Assistant U.S. Attorney Nicholas A. Durham prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:24-cr-7.

    MIL Security OSI –

  • MIL-OSI Africa: Sidi Ould Tah elected ninth president of the African Development Bank Group

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, May 29, 2025/APO Group/ —

    Sidi Ould Tah of Mauritania was today elected President of the African Development Bank Group (www.AfDB.org) at the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.  

    Tah was elected by the Bank’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 regional and non-regional member countries. The board is the highest decision-making authority for the Bank Group. 

    The results were announced by Nialé Kaba, Minister of Planning and Development for Côte d’Ivoire, and Chairman of the Board of Governors of the Bank Group. 

    Addressing the Bank Group’s governors (https://apo-opa.co/4jtxMcx) and the media shortly after the announcement, Tah said, “Let’s go to work now, I’m ready!” 

    The winning candidate is required to obtain at least 50.01% of both the regional and non-regional votes (https://apo-opa.co/4kgzBLc). 

    Tah brings over 35 years of experience in African and international finance. He  served as president of the Arab Bank for Economic Development in Africa (BADEA) for 10 years from 2015, where he led a full transformation that quadrupled the Bank’s balance sheet, secured a AAA rating, and positioned it among the top-rated development banks focused on Africa.  

    A former Minister of Economic Affairs and Finance of Mauritania, Tah has held senior roles in multilateral institutions and has led crisis response, financial reform, and innovative resource mobilization for Africa. 

    The Board of Governors Steering Committee received and approved a total of five candidates by the closing date of 31 January 2025. The list of candidates was officially announced on 21 February 2025. 

    The other candidates in the election were: 

    • Amadou Hott (Senegal) 
    • Samuel Maimbo (Zambia) 
    • Mahamat Abbas Tolli (Chad)  
    • Bajabulile Swazi Tshabalala (South Africa) 

    Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of current President, Dr. Akinwumi Adesina. 

    The African Development Bank’s past heads since its inception in 1964 are: 

    • Mamoun Beheiry (Sudan), 1964-1970 
    • Abdelwahab Labidi (Tunisia), 1970-1976 
    • Kwame Donkor Fordwor (Ghana), 1976-1980 
    • Willa Mung’Omba (Zambia), 1980-1985 
    • Babacar N’diaye (Senegal), 1985-1995 
    • Omar Kabbaj (Morocco), 1995-2005 
    • Donald Kaberuka (Rwanda), 2005-2015 
    • Dr. Akinwumi Adesina (Nigeria), 2015-2025. 

    The election (https://apo-opa.co/43CwLJg) of a new president comes at a crucial time in the Bank Group’s six decades of existence. Africa has remained resilient despite climate shocks, economic disruption, and a shifting geopolitical landscape, but needs to move faster or risk falling behind on delivering on the African Union’s Agenda 2063 and the Sustainable Development Goals, summed up in the Bank Group’s High 5’s. 

    The 2025 Annual Meetings of the African Development Bank Group are taking place from May 26 to 30 in Abidjan, Côte d’Ivoire under the theme “Making Africa’s Capital Work Better for Africa’s Development.”  

    The African Development Bank Group comprises three entities: the African Development Bank, the African Development Fund and the Nigeria Trust Fund. Its shareholder countries include 54 African countries or regional member countries, and 27 non-African countries or non-regional member countries. 

    MIL OSI Africa –

  • MIL-OSI USA: Padilla, Warren, Waters Lead Fight to Continue Funding for Emergency Housing Voucher Program

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Warren, Waters Lead Fight to Continue Funding for Emergency Housing Voucher Program

    WASHINGTON, D.C. — U.S. Senators Alex Padilla (D-Calif.) and Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking Committee, along with Representative Maxine Waters (D-Calif.-43), Ranking Member of the Committee on Financial Services, led nearly 100 lawmakers in urging Congressional Appropriations leadership to include robust funding for the Emergency Housing Voucher (EHV) program as part of Fiscal Year (FY) 2026 funding legislation. Tens of thousands of Americans depend on this vital program for safe, stable, and affordable housing. The letter comes as the Department of Housing and Urban Development (HUD) announced in March that the program will soon run out of money due largely to rents rising at the fastest pace in decades.

    “[Public Housing Agencies] in every state have benefited from the improved voucher issuance and utilization that the EHV program provides, as have the people and communities they serve,” wrote the lawmakers. “Congress must provide sufficient and robust funding to ensure that the families who rely on EHVs don’t lose their housing.”

    “The EHV program provides rental assistance to help end and prevent homelessness,” continued the lawmakers. “At a time when housing costs and homelessness continue to rise, we respectfully request that you provide adequate funding in the FY26 THUD Appropriations bill to renew all EHVs to ensure that those who have been served by the program do not lose their housing support and to ensure landlords continue receiving the rental payments they depend on to maintain their properties.”

    As of April, this critical program supports 107,000 individuals who are mostly children under five years old, older adults, individuals with disabilities, and domestic violence survivors. California received 15,417 of the 70,000 emergency housing vouchers authorized by Congress, but the program is now at risk. Support for the program is especially important as the Trump Administration cuts vital HUD funding and support staff.

    The EHV program was established in 2021 through the American Rescue Plan. Congress originally authorized $5 billion in funding for 70,000 vouchers through September 2030, with increased flexibilities for public housing authorities that made the program more successful than typical housing vouchers.

    Several leading national housing groups — including the Council of Large Public Housing Authorities (CLPHA), Public Housing Authorities Directors Association (PHADA), National Association of Housing Redevelopment Officials (NAHRO), National Alliance to End Homelessness (NAEH), Center on Budget and Policy Priorities (CBPP), National Low Income Housing Coalition (NLIHC), the Moving-to-Work (MTW) Collaborative, and the National Housing Law Project (NHLP) — wrote a separate letter to Congressional appropriations leadership pushing for adequate funding and flexibilities for the EHV program.

    “Funding the EHV program was, and remains, the right thing to do, and is a smart use of federal dollars. It would be more expensive to rehouse or provide services for these individuals after becoming homeless again than it would to keep them housed with additional EHV funding,” the letter from the housing advocates reads. “Without these critical provisions and continued investment, PHAs will face major funding shortfalls in 2027, putting thousands of households at risk of losing their homes. Families who were previously at risk of homelessness and found stability through the EHV program could once again face housing insecurity.”

    In addition to Padilla, Warren, and Waters, the bicameral letter was also signed by Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Maria Cantwell (D-Wash.), Catherine Cortez Masto (D-Nev.), Dick Durbin (D-Ill.), Mazie Hirono (D-Hawaii), Andy Kim (D-N.J.), Angus King (I-Maine), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Edward J. Markey (D-Mass.), Jeff Merkley (D-Ore.), Chris Murphy (D-Conn.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.), as well as Representatives Alma Adams (D-N.C.-12), Yassamin Ansari (D-Ariz.-03), Becca Balint (D-Vt.-AL), Nanette Barragán (D-Calif.-44), Joyce Beatty (D-Ohio-03), Donald Beyer (D-Va.-08), Sanford Bishop (D-Ga.-02), Suzanne Bonamici (D-Ore.-01), Julia Brownley (D-Calif.-26), Janelle Bynum (D-Ore.-05), Salud Carbajal (D-Calif.-24), André Carson (D-Ind.-07), Greg Casar (D-Texas-35), Gilbert Cisneros (D-Calif.-31), Emanuel Cleaver, II (D-Mo.-05), Steve Cohen (D-Tenn.-09), Joe Courtney (D-Conn.-02), Sharice Davids (D-Kan.-03), Danny K. Davis (D-Ill.-07), Maxine Dexter (D-Ore.-03), Lloyd Doggett (D-Texas-37), Cleo Fields (D-La.-06), Bill Foster (D-Ill.-11), Valerie Foushee (D-N.C.-04), Laura Friedman (D-Calif.-30), Jesús G. “Chuy” García (D-Ill.-04), Sylvia Garcia (D-Texas-29), Daniel Goldman (D-N.Y.-10), Jimmy Gomez (D-Calif.-34), Maggie Goodlander (D-N.H.-02), Al Green (D-Texas-09), Jahana Hayes (D-Conn.-05), James Himes (D-Conn.-04), Steven Horsford (D-Nev.-04), Val Hoyle (D-Ore.-04), Jonathan Jackson (D-Ill.-01), Sara Jacobs (D-Calif.-51), Pramila Jayapal (D-Wash.-07), Robin Kelly (D-Ill.-02), Ro Khanna (D-Calif.-17), Greg Landsman (D-Ohio-01), John Larson (D-Conn.-01), Sam Liccardo (D-Calif.-16), Ted Lieu (D-Calif.-36), Stephen Lynch (D-Mass.-08), Morgan McGarvey (D-Ky.-03), James McGovern (D-Mass.-02), LaMonica McIver (D-N.J.-10), Gregory Meeks (D-N.Y.-05), Dave Min (D-Calif.-47), Gwen Moore (D-Wis.-04), Kevin Mullin (D-Calif.-15), Jerrold Nadler (D-N.Y.-12), Eleanor Holmes Norton (D-D.C.-AL), Alexandria Ocasio-Cortez (D-N.Y.-14), Ilhan Omar (D-Minn.-05), Jimmy Panetta (D-Calif.-19), Scott Peters (D-Calif.-50), Brittany Pettersen (D-Colo.-07), Stacey Plaskett (D-V.I.-AL), Ayanna Pressley (D-Mass.-07), Delia Ramirez (D-Ill.-03), Luz Rivas (D-Calif.-29), Raul Ruiz (D-Calif.-25), Andrea Salinas (D-Ore.-06), Linda Sánchez (D-Calif.-38), Janice Schakowsky (D-Ill.-09), Suhas Subramanyam (D-Va.-10), Shri Thanedar (D-Mich.-13), Rashida Tlaib (D-Mich.-12), Derek Tran (D-Calif.-45), Nydia Velázquez (D-N.Y.-07), Nikema Williams (D-Ga.-05), and Frederica Wilson (D-Fla.-24).

    Senator Padilla believes everyone deserves access to affordable and safe housing and recognizes the need to drastically increase the affordable housing stock to address the homelessness crisis facing California and the country, including through his Housing for All Act. Padilla has fought against the Trump Administration’s proposals to cut HUD staff and field offices who help provide crucial housing services. Padilla and U.S. Representative Emanuel Cleaver, II recently led more than 100 Democrats in the Senate and House in condemning staffing cuts and potential closures of HUD field offices across the country. Earlier this year, Senator Padilla sounded the alarm that these wide-ranging cuts would hamper HUD’s ability to support vulnerable communities and address the housing and homelessness crises. He also helped secure a Government Accountability Office investigation into how these cuts will impact the federal government’s ability to enforce the Fair Housing Act.

    Full text of the bicameral letter requesting robust funding in the FY 2026 Transportation, Housing and Urban Development (THUD) and Related Agencies Appropriations bill is available here and below:

    Dear Chair Hyde-Smith, Ranking Member Gillibrand, Chair Womack, and Ranking Member Clyburn:

    As you develop the Fiscal Year (FY) 2026 Transportation, Housing and Urban Development (THUD) and Related Agencies Appropriations bill, we respectfully request that you include funding to ensure that the nearly 60,000 households who are currently being served by the Emergency Housing Voucher (EHV) program do not fall into homelessness.

    During the pandemic, Congress appropriated $5 billion in mandatory funding for the EHV program to help people experiencing or at risk of experiencing homelessness, including survivors of domestic violence and victims of human trafficking, access safe, stable and affordable housing during a moment of crisis.

    Since 2021, the success of the EHV program and its design, which includes critical administrative flexibilities that are responsive to a tumultuous housing market, cannot be overstated. The Department of Housing and Urban Development (HUD) reported that EHVs are leasing at a rate faster than any previous housing voucher program within HUD and drove unprecedented collaboration among public housing agencies (PHAs), homeless services organizations, and victim services organizations to provide rapid and effective housing assistance to vulnerable populations. PHAs in every state have benefited from the improved voucher issuance and utilization that the EHV program provides, as have the people and communities they serve. Congress must provide sufficient and robust funding to ensure that the families who rely on EHVs don’t lose their housing.

    We understand that the Subcommittee must make difficult decisions. However, the EHV program provides rental assistance to help end and prevent homelessness. At a time when housing costs and homelessness continue to rise, we respectfully request that you provide adequate funding in the FY26 THUD Appropriations bill to renew all EHVs to ensure that those who have been served by the program do not lose their housing support and to ensure landlords continue receiving the rental payments they depend on to maintain their properties. Thank you for your consideration of this request and your continued support for the most vulnerable Americans.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Global: The debate over genocide claims in relation to Gaza intensifies

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor

    In the past few days, discussion around whether Israel is committing acts of genocide in Gaza has intensified. On May 28 The Guardian reported that “380 writers and groups” had signed an open letter calling Israel’s military campaign in Gaza “genocide”. The letter reads, in part:

    The use of the words ‘genocide’ or ‘acts of genocide’ to describe what is happening in Gaza is no longer debated by international legal experts or human rights organizations.

    This followed news of a letter to the UK prime minister, Keir Starmer, signed by more than 800 lawyers, including former supreme court justices, calling on the prime minister to impose sanctions on the Israeli government.

    “There is mounting evidence of genocide, which is either being perpetrated or at a minimum at serious risk of occurring,” the letter stated, adding that a recent statement from Israel’s finance minister Belazel Smotrich that the Israel Defense Forces would “wipe out” what remains of Palestinian Gaza was an indication of genocidal intent.

    One of the signatories was Professor Guy Goodwin-Gill, a senior research fellow at All Souls College, Oxford, who has a track record of expertise in international humanitarian law. The Conversation spoke with him to discuss the issue. He said:

    There is no doubt in my mind that war crimes have been committed and although genocide is basically an extreme form of war crime, it can be notoriously difficult to establish intent to destroy a people, in part or in whole.

    The task of proving genocide is hard enough, but [in this case] the evidence can be gathered from the facts on the ground – they speak for themselves. And intent can be inferred from what politicians and officials actually say, especially when it is not denied or qualified.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    But he said he had “reservations about whether, at an inter-state level, a charge of genocide would be levelled against Israel by more than a few states. And if it succeeded, the legal and political consequences.”

    But individual prosecutions for war crimes and genocide are “always a distinct possibility,” he added.

    In fact, the crime of genocide has only been recognised on a handful of occasions since it was first established in 1948. James Sweeney, an expert in international law from Lancaster University has written a brief history of genocide.



    Read more:
    Why have so few atrocities ever been recognised as genocide?

    Meanwhile, in the West Bank city of Jenin, IDF forces sparked international outrage when they fired “warning shots” closer to a group of 25 diplomats on a fact-finding visit in the wake of an Israeli military offensive there.

    Andrew Forde, an expert in international humanitarian law at Dublin City University, considers that this act “crossed the Rubicon”, which is the convention, universally accepted over millennia, of the inviolability of diplomats and their staff. It’s a clear breach, he writes of article 29 of the Vienna convention on diplomatic relations, to which Israel is a signatory, which states that the host state “shall take all appropriate steps to prevent any attack on [their] person, freedom or dignity”.

    Israel responded by offering an apology, but claimed that the diplomats in question had “deviated from the approved route” by entering a restricted area”.

    The incident forced the group of diplomats to scramble for cover and hindered their work in Jenin, Forde writes. As such it is a flagrant breach of Israel’s duty of care. And it sets a dangerous precedent: “Diplomatic protections work effectively when they are reciprocal. Without trust, the system quickly unravels.”



    Read more:
    IDF firing ‘warning shots’ near diplomats sets an unacceptable precedent in international relations

    Israel’s campaign in Gaza is a factor in a hugely complex situation being played out at present in the Middle East, which is straining the relationship between Benjamin Netanyahu and Donald Trump. The US president is talking up the idea of signing a new nuclear deal with Iran to replace the one he withdrew from in 2018. The Israeli prime minister is bitterly opposed to an US-Iran deal and has proposed launching strikes against Iran’s nuclear installations. The pair reportedly clashed over the issue in a phone call this week.

    But Trump recently returned from a trip to the Gulf States, none of which want the sort of regional conflagration that Israeli strikes on Iran could cause. And, as Scott Lucas of University College Dublin writes, he is also very keen to burnish his credentials as a dealmaker, especially in light of his failure to bring the Ukraine war to a close within 24 hours and the failure of the ceasefire in Gaza for which he has claimed much of the credit.

    As Lucas writes, “even as Trump does what he wants over Iran to Netanyahu’s chagrin, the Israeli prime minister is finding that Trump is not restricting what he does closer to home in Gaza”.



    Read more:
    Why are the US and Israel not on the same page over how to deal with Iran? Expert Q&A

    Ukraine: as the US falters, Germany steps up

    Volodymr Zelensky flew to Berlin this week where he met the German chancellor Friedrich Merz, who said Germany would work with Ukraine to develop long-range missiles to attack targets inside Russia. It’s part of an overall plan to expand Germany’s military into the “strongest conventional army in Europe”.

    Stefan Wolff believes Germany’s decision to step up both its military capabilities and its support for Ukraine is highly significant when considered in the context of Donald Trump’s recent threats to abandon his efforts to broker a peace deal between Moscow and Kyiv.

    Wolff, an expert in international security from the University of Birmingham, who has written regularly for The Conversation about the war in Ukraine, says here that “Berlin has the financial muscle and the technological and industrial potential to make Europe more of a peer to the US when it comes to defence spending and burden sharing.” Given the US decision to downscale its security presence in Europe, this could be of enormous consequence for Nato, he writes.



    Read more:
    Germany steps up to replace ‘unreliable’ US as guarantor of European security

    This is also an important development coming, as it does, just a few weeks before Nato’s summit in The Hague on June 24-25. As Amelia Hadfield writes, most of Nato’s members will be only too aware of Trump’s disparagement of Nato and many of its members in recent times and will be considering the potential for a future without US leadership.

    Hadfield, the head of the department of politics at the University of Surrey, notes the irony of Washington calling on the European Nato members to pay more for their own defence. Over much of the lifetime of the alliance, she writes, the US has actively discouraged European defence autonomy. Now, she says, the focus of Nato’s 31 other members must be to prepare for the likelihood that the US plans to at least significantly reduce its support for the alliance in Europe. “A clear mandate is needed, to ensure that being US-less does not render Nato itself useless,” she writes.

    This is already starting to happen, as countries join the “coalition of the willing” spearheaded by Britain and France. But Hadfield believes that boosting European capabilities within Nato is the most sensible way forward and should be the focus of next month’s summit.



    Read more:
    Nato faces a make-or-break decision about how to protect Europe and its future in next few weeks

    A lesson from history

    Donald Trump’s on again off-again relationship with Vladimir Putin is confusing enough for casual followers of world affairs. It must present a considerable headache for the foreign ministers and other diplomats tasked with calibrating their policies around the US stance on Russian aggression.

    But history suggests that the US president’s apparent willingness to allow Russia to grab Ukrainian territory in direct contravention of international law is storing up trouble for the future, writes Tim Luckhurst.

    Luckhurst is the principal of South College, Durham University, and has made a study of the way some governments were happy to allow Hitler to get away with naked aggression in the run-up to the second world war. He sees direct parallels with the way Trump and his senior officials have proposed allowing Putin to have his way with the Crimea and the four provinces of Ukraine which Russia already occupies.

    “Chamberlain’s version of appeasement failed to prevent Adolf Hitler’s aggression in the 20th century,” he writes. “Trump’s version appears equally incapable of deterring Vladimir Putin’s territorial ambitions in the 21st.”



    Read more:
    History shows that Donald Trump is making a serious error in appeasing Vladimir Putin

    World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

    – ref. The debate over genocide claims in relation to Gaza intensifies – https://theconversation.com/the-debate-over-genocide-claims-in-relation-to-gaza-intensifies-257847

    MIL OSI – Global Reports –

  • MIL-OSI USA: Warren, Senators Press RealPage on Multi-Million Lobbying Campaign and House Republicans’ Provision Blocking States from Protecting Renters

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    May 29, 2025

    RealPage has been scrutinized for use of AI algorithms that drive up costs for renters 

    Provision would block state and local efforts to protect renters from artificial price hikes powered by AI pricing tools

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Senators Amy Klobuchar (D-Minn.), Bernie Sanders (I-Vt.), Cory Booker (D-N.J.), and Tina Smith (D-Minn.) sent a letter to Dana Jones, CEO and President of RealPage, expressing concerns regarding RealPage potentially benefiting from a provision on artificial intelligence (AI) included in the House Republicans’ budget reconciliation package. The provision would prohibit the enforcement of any state or local laws on AI for the next ten years.

    RealPage’s YieldStar and AI Revenue Management (AIRM) tools use black box algorithmic pricing schemes to unfairly hike rents at a time when Americans face a national housing affordability crisis. Several states and cities have passed or are considering laws limiting the use of AI-enabled pricing software.

    “[M]ore Americans than ever before are now paying over 30 and 50 percent of their income on housing,” wrote the senators. “In light of this, we seek information on RealPage’s lobbying efforts, and on how the Republicans’ reconciliation provision would help the bottom line of RealPage and other large corporations by allowing them to take advantage of consumers.” 

    Last week, the Republican-controlled House passed a reconciliation bill that cuts Medicaid and rips away health care coverage for millions of Americans, all to pay for trillions of dollars in giveaways for billionaires. In what has been described as a “massive artificial intelligence giveaway,” the bill also includes a provision that would block state- and local-level efforts to curb the harms of products like YieldStar and AIRM, the cornerstones of RealPage’s business model. 

    The Department of Justice (DOJ) has already sued RealPage for “its unlawful scheme to decrease competition among landlords in apartment pricing,” which the DOJ asserts constitutes unlawful price-fixing. Since the DOJ lawsuit was filed in August 2024, RealPage has amped up its lobbying efforts on AI-related issues, nearly doubling its lobbying spending from $4.8 million in 2020 to nearly $9 million in 2024. The senators point out that following these investments, House Republicans worked to “nullify existing and future state efforts to address the harms from AI.” 

    “The net result will be that Americans will lose important protections against the misuse of AI tools,” warned the senators. “This will directly benefit RealPage and similar companies, at the expense of renters who will be forced to pay higher costs for rent and other daily needs.”

    The senators have previously written letters in November 2022, March 2023, September 2024, and February 2025 raising the alarm about RealPage’s YieldStar and AIRM products. Due to RealPage’s potential involvement in this harmful measure, the senators requested a response to their questions by June 10, 2025. 

    MIL OSI USA News –

  • MIL-OSI Europe: Kazakhstan to get EIB Global support for energy-efficient homes

    Source: European Investment Bank

    EIB

    • EIB Global and Kazakhstan Housing Company sign accord to promote energy-efficient homes in country.
    • Agreement comes in wake of first EU-Central Asia summit. 
    • The company will also benefit from technical assistance provided under the joint EIB and GIZ initiative, FELICITY II. 

    The European Investment Bank’s development arm (EIB Global) and state-owned Kazakhstan Housing Company JSC are teaming up to increase the number of energy-efficient and sustainable homes in Kazakhstan.

    EIB Vice-President Kyriacos Kakouris and Altay Kuzdibayev, chairman of the management board of Kazakhstan Housing Company, signed a memorandum of understanding today in the Kazakh capital Astana for financing to build energy-efficient homes.    

    “We will work closely with Kazakhstan Housing Company to explore financing opportunities for housing projects that meet high energy-efficiency standards,” said EIB Vice-President Kakouris. “The agreement reflects a commitment by the European Union and the bank to deepening our strategic partnership with central Asia. Contributing to the sustainable future of the region through initiatives like this one is a high priority for us.”

    This new accord is part of an initiative – FELICITY II Cities Advisory Facility – undertaken jointly by the EIB and German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). The initiative is supported by the International Climate Initiative (IKI) of the Federal Ministry for Economic Affairs and Climate Action of Germany to support low-carbon investments in countries in eastern Europe and central Asia.  

    “Improving people’s quality of life and developing a modern, comfortable urban environment are the key priorities of Kazakhstan Housing Company. Signing a memorandum with EIB Global is an important step in the implementation of long-term international cooperation initiatives that are in line with both national priorities and global climate challenges. We are confident that this partnership will contribute to the formation of a new standard of housing and the development of sustainable and energy efficient housing projects in Kazakhstan,” said Kazakhstan Housing Company Management Board Chairman Kuzdibayev.

    The memorandum of understanding builds on the first EU-Central Asia summit held in April 2025, when government leaders pledged to strengthen ties between the two regions. During the summit, EIB Global announced plans to expand its strategic investments in sustainable development across central Asia.

    GIZ, which was represented at today’s signing event in Astana, , in cooperation with the German Energy Agency (dena) will offer technical assistance to Kazakhstan Housing Company under FELICITY II.

    Cooperation between the EIB and Kazakhstan Housing Company creates a real opportunity to accelerate the low-carbon transformation of Kazakhstan’s building sector, which accounts for a third of the country’s energy use,” said GIZ Project Director André Fabian. “It will also stimulate the market for energy-efficient construction and foster the uptake of innovative technologies and services.” The signing took place during the Astana International Forum, an annual conference that promotes global dialogue and attracts leaders of governments, international organisations, businesses and academic institutions. At the Forum, EIB Vice-President Kakouris participated in panel discussions on water security, global trade and climate action.

    Background information

    About EIB Global

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world.

    Photos of EIB headquarters for media use are available here

    Kazakhstan to get EIB Global support for energy-efficient homes
    Kazakhstan to get EIB Global support for energy-efficient homes
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    Kazakhstan to get EIB Global support for energy-efficient homes
    Kazakhstan to get EIB Global support for energy-efficient homes
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    Kazakhstan to get EIB Global support for energy-efficient homes
    Kazakhstan to get EIB Global support for energy-efficient homes
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    MIL OSI Europe News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Pendleton County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Pendleton County

    Disaster Recovery Center Opens in Pendleton County

    FRANKFORT, Ky

    –A Disaster Recovery Center has opened in Pendleton County to offer in-person support to Kentucky survivors who experienced loss as the result of the April severe storms, straight-line winds, flooding, landslides and mudslides

    The new Disaster Recovery Center in Pendleton County is located at: Pendleton County Emergency Operations Center, 2275 Highway 27 North, Falmouth, KY 41040 Working hours are 9 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 – 7 p

    m

    Eastern Time, Sunday

    Disaster Recovery Centers are one-stop shops where you can get information and advice on available assistance from state, federal and community organizations

     You can get help to apply for FEMA assistance, learn the status of your FEMA application, understand the letters you get from FEMA and get referrals to agencies that may offer other assistance

    The U

    S

    Small Business Administration representatives and resources from the Commonwealth are also available at the Disaster Recovery Centers to assist you

    FEMA is encouraging Kentuckians affected by the April storms to apply for federal disaster assistance as soon as possible

    The deadline to apply is June 25

    You can visit any Disaster Recovery Center to get in-person assistance

    No appointment is needed

    To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

     You don’t have to visit a center to apply for FEMA assistance

    There are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For more information about Kentucky flooding recovery, visit  www

    fema

    gov/disaster/4864

    Follow the FEMA Region 4 X account at x

    com/femaregion4

     
    martyce

    allenjr
    Thu, 05/29/2025 – 12:45

    MIL OSI USA News –

  • MIL-OSI Banking: Joint Declaration on Economic Cooperation Between the Association of the Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC)

    Source: ASEAN – Association of SouthEast Asian Nations

    We, the Member States of the Association of Southeast Asian Nations (ASEAN), and the Member States of the Gulf Cooperation Council (GCC), gathered today for the 2nd ASEAN-GCC Summit;
     
    DESIRING to enhance economic cooperation between ASEAN and the GCC to deepening economic partnership and establishing linkages, especially in areas of mutual interest to diversify its supply chains.
     
    RECALLING the Joint Statement of the First ASEAN-GCC Summit, held in Riyadh, Saudi Arabia on 20 October 2023, where both sides declared to, among others, explore cooperation on key economic partnership priorities namely, strengthening regional market integration; sustainability and decarbonisation; digital transformation and inclusivity, including Micro, Small and Medium Enterprises (MSMEs), public-private sector engagement, and people-to-people ties;
     
    Download the full declaration here.
    The post Joint Declaration on Economic Cooperation Between the Association of the Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC) appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Africa: Reserve Bank cuts repo rate by 25 basis points

    Source: South Africa News Agency

    The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has decided to reduce the repo rate by 25 basis points, with effect from 30 May.

    This reduces the prime lending rate from banks to 10.75 %. 

    Five members favoured this action, while one preferred a cut of 50 basis points.

    “Looking forward, we have revised down our inflation forecasts. This reflects the lower starting point, as well as a stronger exchange rate assumption and lower world oil prices. 

    “These factors offset pressure on fuel costs from the higher fuel levy announced in the Budget. In addition, our previous forecast included VAT increases, which have since been cancelled,” SARB Governor Lesetja Kganyago said on Thursday, while delivering the Monetary Policy Committee statement.

    The inflation was below 3% again in April. The undershoot of the target mainly reflects falling fuel costs, but underlying inflation is also well contained. Core inflation came in at 3%, at the bottom of SARB target range.

    “Now that inflation has slowed, we have a chance to lock in lower inflation at low cost. This scenario illustrates that opportunity,” Kganyago said.

    While the inflation outlook appears benign, the MPC considered an adverse scenario, which illustrates the upside risks. 

    “This was based on a global slowdown, triggered by escalating trade tensions, where the rand depreciates sharply. The scenario showed how a country with some fundamental vulnerabilities, like South Africa, risks stagflation, with growth moving lower while inflation rises due to currency weakness. In these conditions, monetary policy tightens to stabilise the macroeconomy.

    “The threat of rand depreciation that we warned of at our last meeting, given both global and domestic factors, manifested last month, with the currency briefly touching a multi-year low against the US dollar. However, the exchange rate has since recovered, and conditions seem more settled than they did in March, even if the global environment remains uncertain,” he said.

    The Gross Domestic Product (GDP) projections were trimmed and the growth was currently expected at 1.2% this year, rising to 1.8% by 2027.

    “The global environment remains difficult, which makes domestic reform critical for achieving healthy growth. The SARB’s main contribution is to deliver price stability, and we see scope to lock in low inflation and clear the way for sustainably lower interest rates. 

    “Additional measures that would improve economic conditions include reaching a prudent public debt level, further repairing and strengthening network industries, lowering administered price inflation, and keeping real wage growth in line with productivity gains,” Kganyago said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: International Islamic Trade Finance Corporation (ITFC) and Société Internationale des Hydrocarbures de Djibouti (SIHD) Strengthen Djibouti’s Hydrocarbon Sector through Capacity-Building Training Workshops

    Source: Africa Press Organisation – English (2) – Report:

    DJIBOUTI CITY, Djibouti, May 29, 2025/APO Group/ —

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), the trade finance arm of the Islamic Development Bank (IsDB) Group, in collaboration with its longstanding partner, the Société Internationale des Hydrocarbures de Djibouti (SIHD), has successfully conducted two back-to-back training workshops aimed at strengthening operational efficiency within Djibouti’s hydrocarbon sector. In total, 20 participants benefited from this initiative, demonstrating a commitment to both technical excellence and gender inclusion

    The first workshop, themed “Sales and Supply Chain Management”, took place from 8th to 10th April 2025 and addressed key issues including the optimization of procurement strategies and the development of competitive pricing models. The second workshop, held from 15th to 17th April 2025, focused on “Profitability Study and Risk Analysis of Downstream Oil Projects”, covering investment evaluation and corporate purchasing processes. These sessions were conducted by IFP Training, experts in the provision of professional development and capacity-building in energy and process industries. 

    Through this partnership, ITFC and SIHD aim to empower professionals with the essential skills and tools to strengthen procurement strategies in the petroleum sector, implement competitive export pricing, effectively evaluate investments and manage large-scale projects, enhance leadership and team supervision, and improve compliance and efficiency within public procurement processes. These training workshops form part of broader efforts to align with Djibouti Vision 2035, the nation’s long-term development strategy aimed at positioning Djibouti as Africa’s leading trade and logistics hub. 

    Over the years, ITFC has maintained a strong and prevailing partnership with the Republic of Djibouti, approving a total of US$1.6 billion across 33 operations, primarily focused on the energy and health sectors. This program is in line with ITFC’s integrated approach to Trade Finance and Development which reaffirms ITFC’s vision of a leading trade solutions provider for its member countries. 

    MIL OSI Africa –

  • MIL-OSI Security: FBI Houston Seeks ‘Call Me Maybe Menace’ for Bank Robbery

    Source: US FBI

    The FBI Violent Crime Task Force is asking for the public’s help in identifying and locating a man, dubbed the “Call Me Maybe Menace,” who attempted to rob a Woodforest National Bank in Crosby, Texas. Crime Stoppers of Houston is offering a reward of up to $5,000 for information that leads to the identification and arrest of the robber.

    The robbery occurred at approximately 9:28 a.m. on Friday, May 23, 2025, at the Woodforest National Bank located at 14045 FM 2100 in Crosby, Texas. During the robbery, the suspect entered the bank pretending to talk on a cell phone, approached a teller, and handed them a note that demanded cash. The suspect continued to act like he was on the phone until he departed the bank on foot with no money. No one was physically hurt during the robbery.

    The robber is described as a white male in his late 40s to early 50s, approximately 5’5” tall, with a heavy build. During the robbery, he wore a dark-colored Houston Astros baseball cap, blue medical mask, light blue button-up long-sleeved shirt, dark blue jeans, and dark sunglasses. He also held a cell phone to his ear throughout the entire attempted robbery.

    A photograph of the bank robbery suspect can be found on FBI Houston’s Twitter and Facebook accounts.

    Crime Stoppers of Houston, a non-governmental organization, is offering up to $5,000 for information leading to the identification and arrest of this robber. If you have any information, please call the Crime Stoppers tip line at 713-222-TIPS (8477) or the FBI Houston Field Office at (713) 693-5000. Tips may also be submitted to Crime Stoppers through their website, www.crime-stoppers.org, or the Houston Crime Stoppers mobile phone app which can be downloaded for both iPhone and Android devices. All tipsters remain anonymous.

    MIL Security OSI –

  • MIL-OSI Global: Mbare Art Space: a colonial beer hall in Zimbabwe has become a vibrant arts centre

    Source: The Conversation – Africa – By Tinashe Mushakavanhu, Research Associate, University of Oxford

    In southern Africa townships were built as segregated urban zones for black people. They were created under colonial and white minority rule policies that controlled movement, confined opportunity, and kept people apart.

    I grew up in a different historic black township in Zimbabwe, but Mbare was the first of its kind. It holds a unique place in the nation’s imagination.

    Mbare was originally named Harare. But in 1982 that name was reassigned to the capital city that houses it. In its storied past, it was once the heartbeat of black urban life. At its centre is Rufaro Stadium, where Bob Marley and the Wailers famously performed at Zimbabwe’s independence celebrations.

    The township was a hub of cultural energy, sports, and political activism, and the community beer hall served as a vital gathering point. Today, many of these beer halls stand derelict.

    These once-thriving communal spaces reflect a broader neglect of civic infrastructure in post-independence Zimbabwe. Yet out of these ruins, new life is taking shape.

    One of the most influential figures in Zimbabwe’s artist-run spaces movement, Moffat Takadiwa, has transformed one of these former beer halls into the Mbare Art Space. The dynamic arts hub reclaims the building’s original spirit of gathering, creativity and public engagement.

    Operating under a long lease from the Harare City Council, this nonprofit initiative is part of a wider urban renewal and adaptive reuse project aimed at reimagining the city’s cultural infrastructure.

    My ongoing work in archival research includes mapping and visiting historical and cultural spaces like this. Here Takadiwa saw the potential for not just studios and an exhibition venue, but also for dialogue and community regeneration.

    Transforming spaces

    Beer halls were established by British colonial authorities in Zimbabwe (then Rhodesia) as part of a strategy of social control over the African urban population. They were designed to regulate leisure, restrict political organising and generate revenue through the sale of alcohol. By centralising drinking in state-run facilities, colonial administrators aimed to monitor and contain African social life while profiting from it.

    Situated in a repurposed colonial-era beer garden, Mbare Art Space turns a former site of segregation into a vibrant centre of artistic and communal revival. It redefines a legacy of constraint and control as one of creative freedom and empowerment. The place is now an artists’ haven with studios, office space, an exhibition hall and a digital hub.

    Takadiwa’s vision is informed by global precedents, notably inspired by US artist Theaster Gates, whose work includes the transformation of a derelict bank on Chicago’s South Side. It became the Stony Island Arts Bank – a hybrid space for art, archives and community engagement.

    Takadiwa opened Mbare Art Space in 2019 with a vision to support emerging artists through mentorship and access to resources. True to his artistic philosophy – resurrecting abandoned, often overlooked materials suffering the effects of urban decay – he revitalised a neglected site. Most of the artists working from this space follow his lead, upcycling and recycling found materials into compelling visual forms that speak to both history and possibility.

    When I arrive, Takadiwa is on his way out, but offers me a quick tour of his studio, where works in progress for his upcoming participation in the São Paulo Biennale are taking shape.

    Known for his lush, densely layered sculptures and tapestry-like works made from found objects – computer keyboards, bottle tops, toothbrushes, and toothpaste tubes – Takadiwa has garnered international acclaim. His works are collected by US rapper Jay-Z and major institutions like the Centre National d’Art Plastique in Paris, the European Parliament’s art collection in Brussels, and the National Gallery of Zimbabwe in Harare.

    Collaboration

    What Takadiwa is building is not just an arts centre – it’s a new model space rooted in history and responsive to the present. The site itself becomes an ongoing installation, activated by the artists, curators and community members who inhabit it.

    Tafadzwa Chimbumu, the operations manager, takes over the tour, guiding me through the rest of the precinct. The site retains the bones of its beer hall architecture, but it bursts with new life. Colourful murals adorn the walls. Tents draped over smaller buildings animate the exposed brickwork.

    Plans are underway to establish a library here, a resource where researchers and artists can engage with Zimbabwe’s under-documented art history. Much of this history is scattered across archives and unpublished dissertations, rather than in widely available books. The aim is to bring these materials together and make them more accessible to the public.

    Mbare Art Space is also becoming an exciting hub for collaboration and education. Community workshops, for example, are led by resident artists. Local schools take part in art education initiatives. Through community outreach and educational programming, the centre is extending its impact beyond its immediate geography.

    As it looks to the future, Mbare Art Space is focused on expanding its artist-in-residence programme, inviting both local and international artists to immerse themselves in the context of Mbare and Zimbabwe.

    Ultimately, what the space offers is something intangible – a feeling, a memory, a vision of what is possible when history and imagination meet in a shared place.

    Tinashe Mushakavanhu does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Mbare Art Space: a colonial beer hall in Zimbabwe has become a vibrant arts centre – https://theconversation.com/mbare-art-space-a-colonial-beer-hall-in-zimbabwe-has-become-a-vibrant-arts-centre-256528

    MIL OSI – Global Reports –

  • MIL-OSI Africa: Mbare Art Space: a colonial beer hall in Zimbabwe has become a vibrant arts centre

    Source: The Conversation – Africa – By Tinashe Mushakavanhu, Research Associate, University of Oxford

    In southern Africa townships were built as segregated urban zones for black people. They were created under colonial and white minority rule policies that controlled movement, confined opportunity, and kept people apart.

    I grew up in a different historic black township in Zimbabwe, but Mbare was the first of its kind. It holds a unique place in the nation’s imagination.

    Mbare was originally named Harare. But in 1982 that name was reassigned to the capital city that houses it. In its storied past, it was once the heartbeat of black urban life. At its centre is Rufaro Stadium, where Bob Marley and the Wailers famously performed at Zimbabwe’s independence celebrations.

    The old beer hall that today houses artists. Tatenda Kanengoni

    The township was a hub of cultural energy, sports, and political activism, and the community beer hall served as a vital gathering point. Today, many of these beer halls stand derelict.

    These once-thriving communal spaces reflect a broader neglect of civic infrastructure in post-independence Zimbabwe. Yet out of these ruins, new life is taking shape.

    One of the most influential figures in Zimbabwe’s artist-run spaces movement, Moffat Takadiwa, has transformed one of these former beer halls into the Mbare Art Space. The dynamic arts hub reclaims the building’s original spirit of gathering, creativity and public engagement.

    Artists have transformed the beer hall. Tatenda Kanengoni

    Operating under a long lease from the Harare City Council, this nonprofit initiative is part of a wider urban renewal and adaptive reuse project aimed at reimagining the city’s cultural infrastructure.

    My ongoing work in archival research includes mapping and visiting historical and cultural spaces like this. Here Takadiwa saw the potential for not just studios and an exhibition venue, but also for dialogue and community regeneration.

    Transforming spaces

    Beer halls were established by British colonial authorities in Zimbabwe (then Rhodesia) as part of a strategy of social control over the African urban population. They were designed to regulate leisure, restrict political organising and generate revenue through the sale of alcohol. By centralising drinking in state-run facilities, colonial administrators aimed to monitor and contain African social life while profiting from it.

    Situated in a repurposed colonial-era beer garden, Mbare Art Space turns a former site of segregation into a vibrant centre of artistic and communal revival. It redefines a legacy of constraint and control as one of creative freedom and empowerment. The place is now an artists’ haven with studios, office space, an exhibition hall and a digital hub.

    Moffat Takadiwa, the artist behind the project. Tatenda Kanengoni

    Takadiwa’s vision is informed by global precedents, notably inspired by US artist Theaster Gates, whose work includes the transformation of a derelict bank on Chicago’s South Side. It became the Stony Island Arts Bank – a hybrid space for art, archives and community engagement.

    Takadiwa opened Mbare Art Space in 2019 with a vision to support emerging artists through mentorship and access to resources. True to his artistic philosophy – resurrecting abandoned, often overlooked materials suffering the effects of urban decay – he revitalised a neglected site. Most of the artists working from this space follow his lead, upcycling and recycling found materials into compelling visual forms that speak to both history and possibility.

    Kimberly Tatenda Gakanje at work in the space. Tatenda Kanengoni

    When I arrive, Takadiwa is on his way out, but offers me a quick tour of his studio, where works in progress for his upcoming participation in the São Paulo Biennale are taking shape.

    Known for his lush, densely layered sculptures and tapestry-like works made from found objects – computer keyboards, bottle tops, toothbrushes, and toothpaste tubes – Takadiwa has garnered international acclaim. His works are collected by US rapper Jay-Z and major institutions like the Centre National d’Art Plastique in Paris, the European Parliament’s art collection in Brussels, and the National Gallery of Zimbabwe in Harare.

    Collaboration

    What Takadiwa is building is not just an arts centre – it’s a new model space rooted in history and responsive to the present. The site itself becomes an ongoing installation, activated by the artists, curators and community members who inhabit it.

    Tafadzwa B Chataika works with recycled materials. Tatenda Kanengoni

    Tafadzwa Chimbumu, the operations manager, takes over the tour, guiding me through the rest of the precinct. The site retains the bones of its beer hall architecture, but it bursts with new life. Colourful murals adorn the walls. Tents draped over smaller buildings animate the exposed brickwork.

    Plans are underway to establish a library here, a resource where researchers and artists can engage with Zimbabwe’s under-documented art history. Much of this history is scattered across archives and unpublished dissertations, rather than in widely available books. The aim is to bring these materials together and make them more accessible to the public.

    Mbare Art Space is also becoming an exciting hub for collaboration and education. Community workshops, for example, are led by resident artists. Local schools take part in art education initiatives. Through community outreach and educational programming, the centre is extending its impact beyond its immediate geography.

    Nkosiyabo Frank Nyoni making art at the space. Tatenda Kanengoni

    As it looks to the future, Mbare Art Space is focused on expanding its artist-in-residence programme, inviting both local and international artists to immerse themselves in the context of Mbare and Zimbabwe.

    Ultimately, what the space offers is something intangible – a feeling, a memory, a vision of what is possible when history and imagination meet in a shared place.

    – Mbare Art Space: a colonial beer hall in Zimbabwe has become a vibrant arts centre
    – https://theconversation.com/mbare-art-space-a-colonial-beer-hall-in-zimbabwe-has-become-a-vibrant-arts-centre-256528

    MIL OSI Africa –

  • MIL-OSI: FirstBank’s First Quarter Results Reflect Community Engagement and Stability

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, Colo., May 29, 2025 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held and top-performing banks with a focus on “banking for good,” announced its 2025 first-quarter summary of the company’s holdings and activities. The bank reported the following quarter-end results:

    • Net income in the first quarter of 2025 was $82.8 million
    • Total deposits were $23.8 billion 
    • Net loans were $15.8 billion  
    • Total assets were $27.1 billion 

    Near the end of the quarter, FirstBank closed the sale of its California Market and four branch locations, successfully transitioning all California accounts and branches to California Bank and Trust (CB&T), a division of Zions Bancorporation. The sale was an important move for the bank, allowing it to focus more on strategic growth opportunities in Colorado and Arizona.

    “The decisions FirstBank makes are strategically aimed at long-term growth,” said Kevin Classen, CEO of FirstBank. “We will continue to invest in small businesses and local initiatives that drive progress and create a lasting impact.”

    Moreover, the bank continues to support small businesses with its “It Takes Courage” video series, which highlights small businesses taking a leap of faith to make their big business dreams come true. 

    About FirstBank

    FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.

    The MIL Network –

  • MIL-OSI Africa: Ghana’s Asanko Gold Mine Joins Mining in Motion as Bronze Sponsor

    Source: Africa Press Organisation – English (2) – Report:

    ACCRA, Ghana, May 29, 2025/APO Group/ —

    Asanko Gold Mine, operated by Canadian firm Galiano Gold, has joined the upcoming Mining in Motion Summit 2025 as a Bronze sponsor. The Summit is Ghana’s premier event for the mining sector, taking place on June 2 – 4, 2025 in Accra.

    As one of Ghana’s key mining operations, Asanko Gold Mine plays a vital role in advancing local content development, environmental sustainability and increased gold production. Asanko Gold Mine’s participation at the event underscores the company’s long-term commitment to driving economic growth and job creation through a robust and responsible mining agenda.

    Asanko Gold Mine will participate in high-level panel discussions, exclusive networking, and project showcases highlighting its investment strategy and impact on Ghana’s mining sector, economy, and local communities.

    The mine discovered a high-grade gold zone at the Abore Main pit, following a drilling campaign completed in May 2025 aimed at extending the life of its underground operations. In addition, the company continues to drill at its other open-pit sites; Nkran, Esaase, and Miradani North to further enhance production capacity.

    On the local content front, Asanko Gold Mine contributes to employment creation, female empowerment and community development. With a workforce of over 2,200 – 99% of whom are Ghanaian – the company champions local capacity building. Through its Asanko Women in Mining initiative, the firm empowers women by providing training and promoting their inclusion across all levels of the mining sector, fostering a more diverse and equitable industry.

    Asanko Gold Mine has also prioritized environmental stewardship. In 2023, the firm signed a clean power purchase agreement with the Volta River Authority to source 15MW of electricity for its operations from solar. The deal supports emissions reductions and aligns with sustainability goals within Ghana’s Asante Kingdom.

    Organized by the Ashanti Green Initiative – led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom – in collaboration with Ghana’s Ministry of Lands and Natural Resources, World Bank, and the World Gold Council, with the support of Ghana’s Ministry of Lands and Natural Resources, the summit offers unparalleled opportunities to connect with industry leaders.

    Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium- to large-scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting www.MiningInMotionSummit.com. For sponsorship opportunities or delegate participation, contact Sales@ashantigreeninitiative.org.

    MIL OSI Africa –

  • MIL-OSI Economics: Malaysia payment card market to surpass $177 billion in 2025 as POS overtakes ATM withdrawals, forecasts GlobalData

    Source: GlobalData

    Malaysia payment card market to surpass $177 billion in 2025 as POS overtakes ATM withdrawals, forecasts GlobalData

    Posted in Banking

    The Malaysian payment card market (including at POS and ATM cash withdrawals) is expected to grow by 4.0% to reach MYR814.1 billion ($177.9 billion) in 2025e, driven by a clear shift from cash to digital payments. Contactless cards and wider card acceptance are playing a key role, with card payments at POS now set to overtake ATM cash withdrawals for the first time, reveals GlobalData, a leading data and analytics company.

    GlobalData’s Payment Card Analytics reveals that payment cards value in Malaysia registered a healthy compound annual growth rate (CAGR) of 8.0% between 2020 and 2024 to reach MYR783 billion ($171.1 billion) in 2024. On the other hand, card usage for ATM cash withdrawals is reducing with total ATM withdrawals registering low CAGR of 1.1% during the same period.

    Shivani Gupta, Lead Banking and Payments Analyst at GlobalData, comments: “Although cash remains prevalent in Malaysia, it is gradually losing ground to electronic payments. There has been significant progress in the adoption of card-based payments, which recorded a CAGR of 20.4% between 2020 and 2024 in terms of transaction volume. This growth is primarily supported by the government’s financial inclusion initiatives, such as capping interchange fees, issuing licenses for digital-only banks, and developing payment infrastructure in the country.”

    While cash has traditionally been the preferred payment method in Malaysia, its share is steadily declining as digital payments gain traction, with payment cards and digital wallets emerging as the main beneficiaries. The share of ATM cash withdrawals now represents 49.8% in 2025, much lower compared to 63.3% in 2021.

    Card payments at POS terminals, on the other hand, are steadily increasing, with its share is estimated to reach 50.2% in 2025. This growth can be attributed to the rising consumer awareness, growing POS terminalization, and the introduction of contactless debit cards by banks. The capping of interchange fees for domestic and international debit cards at 0.10% and 0.27%, respectively, and at 0.6% for credit cards, also contributed to this as this encouraged more merchants to accept card payments.

    The growing popularity of contactless payment has also driven the overall card usage at POS, gradually displacing cash for day-to-day transactions. Backed by most banks and financial institutions in the country, contactless payments have become increasingly prevalent and are also widely accepted by most retailers.

    According to GlobalData’s 2024 Financial Services Consumer Survey*, over 63% of the respondents in Malaysia indicated having access to a contactless card and used it for payments.

    The increasing use of contactless payments for public transport payments is also contributing to the growth of card payments. For example, in March 2024, the highway operator PLUS Malaysia introduced contactless credit and debit card payment capabilities at the toll plaza on the Penang Bridge. Commuters can simply tap their cards on the MyDebit-Visa-Mastercard device to complete toll payments, with the toll fee deducted directly from their card balance. These advancements indicate a growing trend towards the normalization of cashless and contactless payment methods in Malaysia.

    Despite the increasing popularity of electronic payments, cash remains widely used in Malaysia due to consumer cultural preferences and the perceived convenience and security it offers. Consequently, Malaysia’s transition to a less-cash society is expected to be a gradual process.

    Gupta concludes: “Looking ahead, Malaysia’s payment card landscape is poised for steady growth over the next five years, driven by the increasing adoption of payment cards amid a boarder digital transformation. Government initiatives, rising consumer preference for digital payments, and developing card acceptance infrastructure are expected to further drive/support this growth. Subsequently, the payment cards value is anticipated to grow at a CAGR of 4.5% between 2025 and 2029 to reach MYR969.9 billion ($211.9 billion) in 2029.”

    *GlobalData’s 2024 Financial Services Consumer Survey was carried out in Q2 2024. Approximately 67,292 respondents aged 18+ were surveyed across 41 countries.

    MIL OSI Economics –

  • MIL-OSI USA: U.S. Attorney’s Office Secures Nearly $9 Million in Fraud and Money Laundering Proceeds from Fraudulently Obtained Paycheck Protection Program Loans

    Source: United States Small Business Administration

    Click Here to View the Original U.S. Department of Justice (DOJ) Press Release

    On May 14, 2025, U.S. District Judge Michael E. Farbiarz entered a final judgment forfeiting to the United States approximately $7 million in fraud and money laundering proceeds, as well as a real property purchased with laundered fraud proceeds that has an estimated market value of nearly $2 million, United States Attorney Alina Habba announced.

    On May 6, 2024, the U.S. Attorney’s Office filed a civil forfeiture complaint against approximately $7 million in seized and frozen U.S. currency, as well as a real property in Cresskill, New Jersey, that was purchased with nearly $1 million in laundered fraud proceeds, alleging that the assets were the proceeds of fraud and money laundering offenses. As alleged in the complaint, between April 2020 and August 2020, Jae H. Choi (“Choi”) fraudulently obtained Paycheck Protection Program (“PPP”) loans totaling approximately $8,971,457, and then laundered those fraud proceeds through various financial accounts held in the names of Choi’s nominees, including Choi’s relative and various corporate entities that Choi controlled. According to the civil forfeiture complaint, Choi then spent the laundered fraud proceeds on personal expenses and purchased the Cresskill real property.

    United States Attorney Habba credited special agents of the Internal Revenue Service –Criminal Investigation, under the direction of Special Agent in Charge Jenifer L. Piovesan, special agents of the Social Security Administration, Office of the Inspector General’s Boston New York Field Division, under the direction of Special Agent in Charge Amy Connelly, postal inspectors of the U.S. Postal Inspection Service, under the direction of Inspector in Charge Christopher A. Nielsen, and special agents of the U.S. Small Business Administration, Office of Inspector General’s Eastern Region, under the direction of Special Agent in Charge Amaleka McCall-Braithwaite, with the investigation.

    The government is represented by Assistant U.S. Attorney Peter A. Laserna of the Bank Integrity, Money Laundering, and Recovery Unit of the Criminal Division in Newark.

    ###

    choi.complaint.pdf

    Related programs: Pandemic Oversight, PPP

    MIL OSI USA News –

  • MIL-OSI: OPEC Secretary General Announced as Keynote Speaker at Global Energy Show Canada

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 29, 2025 (GLOBE NEWSWIRE) — dmg events is announcing that OPEC Secretary General, His Excellency Haitham Al Ghais, will make an official visit to Canada this June and appear as a Keynote Speaker at the Global Energy Show Canada (GESC) taking place June 10-12.

    Speaking as part of the Executive Conference ‘The Conversation’ hosted by Peter Mansbridge, His Excellency joins a who’s who of energy industry CEOs, policy leaders from the private sector, and ministerial and elected officials from across Canada and around the world. The convention gets set to tackle big questions and issues about what Canada’s energy mandate can look like over the next five years.

    “We are thrilled to welcome His Excellency Haitham Al Ghais to the Global Energy Show Canada this June in Calgary, for what is shaping up to be the most influential and important edition of the event in decades,” says Nick Samain, Senior Vice President of dmg events. “With pre-registration already trending close to double compared to the last edition in 2024, we expect to reach capacity attendance for this year’s conference program in the next few days.”

    This announcement comes alongside a roster of more than 150 distinguished private sector energy leaders from Canada and around the world, including: Hon. Rona Ambrose, Deputy Chairwoman, TD Securities; Stastia West, President & Country Chair and Vice President, Canada Integrated Gas, Shell Canada; Mark Maki, CEO, Trans Mountain; Mark Fitzgerald, President and CEO, PETRONAS Canada; Jon McKenzie, President and CEO, Cenovus Energy; Darlene Gates, President and CEO, MEG Energy; Nicole Bourque-Bouchier, CEO, The Bouchier Group; Clay Sell, CEO, X-energy; Luke Schauerte, CEO, Woodfibre LNG; Chris Doornbos, President and CEO, E3 Lithium; Kim Lauritsen, Senior Vice President, Enterprise Strategy and Growth, Ontario Power Generation; and Carl Marcotte, Senior Vice President Marketing and Business Development, Candu Energy, an AtkinsRéalis Company.

    Joining this roster of private sector energy leaders is strong representation from government, Indigenous, and policy leaders, including: Premier of Alberta Danielle Smith; Hon. Brian Jean, Minister of Energy and Minerals, Government of Alberta; Hon. Colleen Young, Minister of Energy and Resources, Government of Saskatchewan; Crystal Smith, Chief, Haisla First Nation; Dr. Orlando Velandia Sepúlveda, President, National Hydrocarbons Agency of Colombia (ANH); Chana Martineau, CEO, Alberta Indigenous Opportunities Corporation; Kenneth Wagner, Former Trump Administration Senior Executive at the US Environmental Protection Agency; Jason Lanclos, Director of State Energy Development and Planning, Louisiana Economic Development; Dale Hansen, Dean, McPhail School of Energy, SAIT; Justin Riemer, CEO, Emissions Reduction Alberta; Lisa Baiton, President and CEO, Canadian Association of Petroleum Producers (CAPP); Sonya Savage, Senior Counsel, Borden Ladner Gervais LLP; Marg McCuaig-Boyd, Senior Advisor, Counsel Public Affairs Inc.; Shannon Joseph, Chair, Energy for a Secure Future; Heather Exner-Pirot, Senior Fellow and Director of Natural Resources, Energy, and Environment, MacDonald-Laurier Institute; James Rajotte, Alberta’s Senior Representative to the United States, Government of Alberta; Hon. René Legacy, Deputy Premier, Minister of Finance, Minister responsible for Energy, Government of New Brunswick; Hon. Nathan Neudorf, Minister of Affordability and Utilities, Government of Alberta; Ehren Cory, CEO, Canada Infrastructure Bank; Gurpreet Lail, President and CEO, Enserva and Karen Ogen, CEO, First Nations Natural Gas Alliance.

    Delegates can expect a range of premium networking events throughout the three-day conference and exhibition including daily receptions, industry dinners, the Global Energy Show Awards, all on the backdrop of a robust exhibition featuring 500 exhibiting companies across five expansive exhibition halls.

    Exhibition hours are: Tuesday, June 10 and Wednesday, June 11 from 10 a.m. to 5 p.m. and Thursday, June 12 from 10 a.m. to 4 p.m. Please check the website for full conference program and hours.

    Media are required to pre-register to attend the show. In order to obtain a show badge for the event, media will need to provide accreditation (a piece of photo identification and an official business card) upon arrival. The Media Room is located on Level 2, BMO Centre.

    For more information on GESC, to pre-register or to inquire about attendance, please visit https://www.globalenergyshow.com.

    For media inquiries, please contact: 
    Shauna MacDonald
    403-585-4570
    Brookline Public Relations
    smacdonald@brooklinepr.com

    The MIL Network –

  • MIL-OSI Economics: Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 – The YASHWANT CO-OPERATIVE BANK Ltd., Phaltan, Taluka Phaltan, District Satara, Maharashtra

    Source: Reserve Bank of India

    It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No. S1580/12-22-321/2025-2026 dated May 28, 2025, has issued certain Directions to The YASHWANT CO-OPERATIVE BANK Ltd., Phaltan, (“the bank”), whereby, as from the close of business on May 29, 2025, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated May 28, 2025, a copy of which has been directed to be displayed on the bank’s website / premises for perusal by interested members of the public. Considering the bank’s present liquidity position, the bank has been directed not to allow withdrawal of any amount from savings bank or current accounts or any other account of a depositor but is allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions. The bank may incur expenditure in respect of certain essential items such as salaries of employees, rent, electricity bills, etc., as specified in the said Directions.

    2. RBI has in the recent past engaged with the Board and Senior Management of the bank for improvement in its functioning. However, lack of concrete efforts taken by the bank to address the supervisory concerns and to protect the interest of depositors of the bank, necessitated issuance of these Directions.

    3. The eligible depositors would be entitled to receive deposit insurance claim amount of their deposits upto a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) in the same capacity and in the same right, from the Deposit Insurance and Credit Guarantee Corporation (DICGC), as applicable under the provisions of the DICGC Act, 1961, based on submission of willingness by the depositors concerned and after due verification. The depositors may contact the bank officials for further information. Details may also be accessed on the DICGC website: www.dicgc.org.in.

    4. The issue of the above Directions by the RBI should not per se be construed as cancellation of the banking license by RBI. The bank will continue to undertake banking business subject to restrictions specified in the said Directions till its financial position improves. The RBI continues to monitor the position of the bank and will take necessary actions including modifications of these Directions, as warranted, depending upon circumstances and in the interest of the depositors.

    5. These Directions shall remain in force for a period of six months from the close of business on May 29, 2025 and are subject to review.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/432

    MIL OSI Economics –

  • MIL-OSI Russia: IMF and Ukrainian Authorities Reach Staff Level Agreement on the Eighth Review of the Extended Fund Facility (EFF) Arrangement

    Source: IMF – News in Russian

    May 29, 2025

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.

    • International Monetary Fund (IMF) staff and the Ukrainian authorities have reached staff level agreement (SLA) on the Eighth Review of the 4-year, $15.5 billion Extended Fund Facility (EFF) Arrangement. Subject to approval by the IMF Executive Board, Ukraine would have access to about US$0.5 billion (SDR 0.37 billion), bringing total disbursements under the program to US$10.65 billion.
    • All end-March quantitative performance criteria (QPCs) and indicative targets (IT) have been met and understandings were reached on a set of policies and reforms to sustain macroeconomic stability. The structural reform agenda continues to make progress with two structural benchmarks met, another to be completed in the coming weeks, and strong commitments to advance other key reforms.
    • The outlook remains exceptionally uncertain as the war continues to take a heavy toll on the population, economy, and infrastructure. Despite the challenging environment, the program remains on track and fully financed on the back of large-scale external commitments.

    Kyiv, Ukraine: An International Monetary Fund (IMF) team led by Mr. Gavin Gray held discussions with the Ukrainian authorities in Kyiv, Ukraine during May 20-27 on the Eighth Review of the country’s 4-year Extended Fund Facility (EFF) Arrangement. Upon the conclusion of the discussions, Mr. Gray issued the following statement: 

    “IMF staff and the Ukrainian authorities have reached staff-level agreement on the Eighth Review of the EFF, subject to approval by the IMF Executive Board, with Board consideration expected in coming weeks. 

    “Ukraine’s four-year EFF Arrangement with the IMF continues to provide a strong anchor for the authorities’ economic program in times of exceptionally high uncertainty. All quantitative performance criteria and indicative targets for end-March have been met, and progress continues on the structural agenda due for this review.

    “The economy remains resilient despite the challenges arising from more than three years of war. As Russia’s war in Ukraine continues, real GDP growth is expected to remain modest, at 2-3 percent for 2025, reflecting headwinds from labor constraints and damage to energy infrastructure. Inflation has continued to rise, reaching 15.1 percent y/y in April mainly due to rising food and labor costs; inflation expectations remain anchored. The National Bank of Ukraine (NBU) has raised the policy rate by a cumulative 250 bps since December in response. Gross international reserves reached US$46.7 billion as of end-April, reflecting continued large external official support. Risks remain exceptionally high given uncertainty on the war and the prospects for peace and recovery.  

    “The 2025 fiscal deficit is large as the level of critical expenditures remains elevated as the war continues. Financing the deficit requires significant external support, notably from the G7’s ERA Initiative, whose full disbursement during the program period is critical to support macroeconomic stability and ensure the program remains financed. Risks of additional critical expenditure requirements in 2025 are high and thus the authorities need to prepare offsetting measures should expenditure shocks materialize. Beyond 2025, expenditures are expected to remain high for the foreseeable future. Consequently, it is imperative and unavoidable that the authorities sustain efforts to mobilize domestic revenues over the medium-term since external support alone will not be sufficient to finance the deficit, restore fiscal sustainability, support critical spending, and finance reconstruction.

    “Determined efforts are required to mobilize domestic revenues, tackle tax evasion and avoidance, and improve the investment climate. Broad-based, durable, and efficient revenue measures and robust implementation of Ukraine’s National Revenue Strategy (NRS) is essential. Tax policy reforms need to be coupled with improvements in tax administration and continued reforms to the state customs service (SCS) and state tax service (STS). Restoring debt sustainability hinges on this revenue-based fiscal adjustment and continued implementation of the authorities’ debt restructuring strategy, including a treatment of the GDP warrants. The upcoming 2026-2028 budget declaration is an important step to set out the strategic objectives of the authorities’ medium-term fiscal framework and policies. 

    “With rising inflation, the increases by the National Bank of Ukraine’s (NBU) to their key policy rate (KPR) have been appropriate. Additional action may be warranted if inflation accelerates further or inflation expectations deteriorate. The monetary stance should remain tight to help reduce inflation and bring it to the NBU’s target over its three-year policy horizon. The exchange rate should play a greater role as a shock absorber, as per the preconditions outlined in the relevant NBU Strategy; this will help prevent external imbalances and preserve adequate reserves, particularly given heightened risks to the outlook. The judicious and staged approach to FX liberalization should continue, consistent with overall monetary and FX policy mix to maintain adequate reserves, and measures should continue to be closely monitored.

    “Governance reforms remain essential to bolster the rule of law and increase the independence, competence, and credibility of anti-corruption and judicial institutions. Reforming the state customs service (SCS) is essential to tackle corruption and reduce tax evasion. Progress in this area requires finalizing a comprehensive reform plan—a requirement for the completion of the review—coupled with the swift appointment of a permanent head of the SCS. The recently published NABU external audit, a structural benchmark, provides an opportunity to implement additional reforms to strengthen the institution and increase public trust. Similarly, the government’s commitment to amend the criminal procedure code, also a structural benchmark, is a signal of their willingness to strengthen the anti-corruption system and meet international obligations. On SOE corporate governance, the selection of new CEOs for GTSO and Ukrenergo should proceed promptly based on a merit-based process.     

    “Effective public investment management (PIM) is critical for post-war recovery, reconstruction, and growth against a backdrop of limited fiscal space. To tackle these challenges, the government of Ukraine has made important progress in strengthening PIM frameworks, and we encourage the authorities to build on this success. A strategic, holistic, and transparent approach is essential to overcome absorption capacity constraints and allocate scarce resources efficiently. 

    “The financial sector remains stable, but continued vigilance is warranted given elevated risks. Swift action to address critical institutional challenges of the NSSMC is a priority to enhance its effectiveness, and fit and proper tests need to proceed without further delay. Developing financial markets infrastructure and associated reforms will be indispensable to attracting private sector and foreign capital to support reconstruction and recovery. Comprehensive consultation with financial market participants is essential to facilitate a prioritized reform agenda.  

    “The mission met with Prime Minister Shmyhal, Finance Minister Marchenko, National Bank of Ukraine Governor Pyshnyy, other government ministers, public officials, and civil society. The mission thanks them and their technical staff for the excellent collaboration and constructive discussions.” 

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva-Maria Graf

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/29/pr-25165-ukraine-imf-and-ukr-authorities-reach-agreement-on-8th-rev-of-eff-arrang

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Establishment of the Risk, Nomination and Remuneration Committees of Bigbank

    Source: GlobeNewswire (MIL-OSI)

    The Supervisory Board of Bigbank AS decided to establish three new committees: the Risk Committee, the Remuneration Committee and the Nomination committee.

    • The Risk Committee comprises three members of the Supervisory Board: Sven Raba, Vahur Voll and Jaan Liitmäe.
    • The Remuneration Committee consists of three members of the Supervisory Board: Alari Aho, Juhani Jaeger and Jaan Liitmäe.
    • The Nomination Committee is composed of three members of the Supervisory Board: Alari Aho, Juhani Jaeger and Sven Raba.

    Committee meetings are convened as necessary. The chairman of each committee is elected form among its members. Committee members are remunerated in accordance with the shareholders’ resolution dated 29.05.2025.

    In addition to the established committees, the Bank’s Audit Committee will continue its work.

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 April 2025, the bank’s total assets amounted to 2.9 billion euros, with equity of 274 million euros. Operating in nine countries, the bank serves more than 170,000 active customers and employs over 550 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Martin Länts
    Chairman of the Management Board
    E-mail: martin.lants@bigbank.ee
    www.bigbank.eu

    The MIL Network –

  • MIL-OSI: 1 hour Payday Loans: No Credit Check, Instant Approval, Same Day – (Guaranteed $100 Loan) – Low Credit Finance

    Source: GlobeNewswire (MIL-OSI)

    New York City, May 29, 2025 (GLOBE NEWSWIRE) — When unplanned expenses occur and your next paycheck is days away, 1 hour payday loans with no credit check can offer the instant financial assistance you require. These short-term cash advances have easy applications, quick approvals, and money transferred to your checking account in 60 minutes. In contrast to conventional loans, they consider your present income instead of your credit history. Thus they are available to borrowers with imperfect credit. Low Credit Finance is the leader in offering such emergency financial options with speed and dependability.

    <<<< 1-Hour Payday Loans – Even with Bad Credit! >>>>

    Best Payday Loans Online Same Day: Our Top Pick – Low Credit Finance

    Low Credit Finance is our top choice when you require emergency money, as their quick application process and speedy approval system can deposit money into your account in as little as one hour after approval.

    Key features that make Low Credit Finance stand out:

    • Application takes less than 5 minutes to complete
    • Decisions typically provided within minutes
    • Direct deposit to your bank account within one hour after approval
    • No hard credit checks that could damage your credit score
    • Loan amounts from $100 to $1,000

    Low Credit Finance prioritizes speed and convenience while maintaining transparent terms. Their customer service team is available to assist with any questions regarding your application or loan terms.

     <<<< Get a $100 Payday Loan in 1 Hour – No Credit Check! >>>>

    Everything You Need to Know About 1 Hour Payday Loans No Credit Check

    1-hour payday loans with no credit check are short-term loans for individuals who require instant cash in emergencies. Unlike ordinary loans, t

    hese loans pay attention to your earnings and repayment capability instead of your credit rating.

    These loans generally:

    • Shorten from $100 up to $1,000
    • Have repayment periods of 2-4 weeks (typically until your subsequent payday)
    • Include a quick application process
    • Offer money in one hour of approval
    • Employ alternative means to establish repayment capability

    Rather than conduct a conventional credit check, lenders providing such services confirm your employment, earnings, and banking details. This renders them available to poor credit borrowers or those with minimal credit history.

    Low Credit Finance: Best Platform For 1-Hour Payday Loans Online No Credit Check Instant Approval

    Low Credit Finance has established itself as the leading platform for those seeking 1 hour payday loans online with no credit check and instant approval. Their digital platform operates 24/7, allowing you to apply anytime, even outside traditional banking hours.

    The approval process at Low Credit Finance works as follows:

    • Complete the simple online application form
    • Receive an instant preliminary decision
    • Submit required documentation (proof of income, ID, and bank details)
    • Get approval in most cases within minutes
    • Get money in your account within one hour

    Low Credit Finance uses sophisticated algorithms to evaluate applications in minutes without using conventional credit checks. Their software enables them to make instant decisions while responsibly analyzing your repayment capacity.

     <<<< Guaranteed $100 Payday Loan – No Questions Asked! >>>>

    1 Hour Payday Loans No Credit Check – Instant Cash Without a Credit Check Only On Low Credit Finance

    Low Credit Finance is among the few genuine websites providing actual 1 hour payday loans without any conventional credit check. Though they do check your income and employment, they don’t make major credit bureau inquiries that might decrease your credit score.

    Why customers prefer Low Credit Finance for no-credit-check loans:

    • No effect on credit score from application
    • Emphasizing current income over past financial errors
    • Easy qualification criteria
    • Clear fee structure
    • Quick funding in your checking account

    For those concerned about their credit record impacting loan consideration, Low Credit Finance provides a sensible solution that considers your current rather than your previous financial situation.

    But What Are 1 Hour Payday Loans with No Credit Check?

    These unique financial products are intended to fill short-term financial gaps. They are different from conventional loans in the following key respects:

    • Speed: Applications are done rapidly, with money usually available in an hour
    • Short terms: Normally due on your next pay day (2-4 weeks)
    • Qualification criteria: Income and job based instead of credit rating
    • Application process: Easy, streamlined, and mostly on the web
    • Loan amounts: Smaller than regular loans ($100-$1,000)

    These loans are a financial safety net when unexpected costs crop up between paychecks, so you can cover emergencies without holding out days or weeks for standard loan approval.

     <<<< Same-Day Payday Loan – No Credit Check Required! >>>>

    How Do 1 Hour Payday Loans Online No Credit Check Instant Approval Work?

    The process for getting these instant loans is made easy:

    • Application: Complete a short online application with personal, work, and banking details
    • Verification: The lender checks your information without performing a conventional credit check
    • Decision: You get an instantaneous initial decision
    • Documentation: Supply documents electronically that you need to provide
    • Final Approval: Get final approval on your loan approval
    • Funding: Funds get direct credit to your bank account within one hour

    The whole process is done online, avoiding paperwork and office visits. This is the efficiency that makes the one-hour funding period possible, which most borrowers require in cases of emergencies.

    Loan Terms, Amounts & Repayment – What to Know Before Borrowing

    Before taking out a payday loan, understand these key aspects:

    Loan Amounts:

    • Typically range from $100 to $1,000
    • First-time borrowers often qualify for lower amounts
    • Limits may vary by state regulations

    Repayment Terms:

    • Usually tied to your pay schedule (2-4 weeks)
    • Single lump-sum payment in most cases
    • Direct debit from your bank account on the due date

    Fees and APR:

    • Charges usually between $15 and $30 for every $100 borrowed
    • APRs are greater than those of regular loans because of the short duration
    • Amount to be repaid in full is clearly indicated before approval

    Consequences of Late Payment:

    • Late charges fees
    • Potential effect on future ability to borrow
    • Some lenders may have extension provisions

    Always read the complete loan contract prior to accepting any loan offer to be aware of all terms and conditions.

     <<<< Apply Now & Get Money in Your Account Today! >>>>

    Low Credit Finance Offers Same Day Pay Day Loans – Fast Access to Emergency Funds With Low Credit Finance

    Low Credit Finance specializes in providing same day pay day loans when you can’t wait for traditional financing. Their service is particularly valuable when facing urgent expenses like:

    • Medical emergencies
    • Car repairs
    • Urgent home repairs
    • Overdue utility bills
    • Other unexpected financial crises

    Same-day guarantee allows you to apply during the morning and have funds to meet these emergencies in the afternoon. Low Credit Finance has high approval rates by concentrating on your current income instead of credit history, making their services available to more borrowers.

    Guaranteed Approval Same Day Loans Online: Fast Cash When You Need It Most

    Although no lender can absolutely assure 100% approval, same day online loans from Low Credit Finance have some of the best approval rates in the business. With their open-ended criteria, if you:

    • Have a regular income
    • Are able to identify yourself
    • Have an active checking account
    • Are at least 18 years old

    You stand a good probability of being approved, irrespective of previous credit problems. The aspect of same-day funding guarantees that after getting approval, you won’t be delayed in accessing your emergency cash. This blend of convenient approval and fast funding makes such loans especially useful in times of financial crisis.

     <<<< Don’t Wait – Get Your Payday Loan Right Now! >>>>

    Guaranteed $100 Loan No Credit Check – Can You Really Get Money Today With Low Credit Finance?

    For individuals who require less than the full loan amount, Low Credit Finance provides a focused $100 loan product with lenient qualification requirements. The small-dollar loans are easier to qualify for than higher amounts, and approval levels approach “guaranteed” for applicants who qualify on simple terms.

    Advantages of the $100 loan product are:

    • Super-high approval rates for working applicants
    • Streamlined application procedure
    • Less documentation necessary
    • Rapid funding, usually within an hour
    • Lower total charges than for higher loan amounts

    This starter loan facility offers a means of solving small financial crises without acquiring more debt than one needs. It’s also convenient to build a relationship with Low Credit Finance if you require bigger amounts later on.

    Payday Loans Online Same Day: How to Apply for a Payday Loan Online with No Credit Check?

    The process of applying for online same day payday loans is fast and simple:

    • Go to Low Credit Finance website – Go to their online secure application site
    • Give basic details – Give personal details, job details, and bank account details
    • Submit application – Check your application form and submit it
    • Get instant decision – Get an initial approval usually within minutes
    • Validate your information – Post necessary documents to verify identity and income
    • Approve loan terms – View and approve presented loan terms
    • Get your money – Have funds deposited straight into bank account in one hour

    The whole process can be done from your computer or phone, without having to go to a physical office or send documents through the mail.

    Advantages of 1 Hour Payday Loans

    These quick-funding loans have several unique benefits:

    • Speed – Have access to cash when you need it most, within an hour of approval
    • Accessibility – Accessible to borrowers with poor or limited credit history
    • Convenience – Apply online 24/7 from anywhere
    • Simplicity – Simple application process with little documentation
    • Privacy – No need to justify your financial emergency to friends or family
    • Utility payments – Prevent service disconnections by paying bills on time
    • Emergency coverage – Pay for unexpected expenses without delay
    • No collateral needed – Unsecured loans that won’t put your belongings at risk

    These advantages position 1-hour payday loans as a viable solution for covering short-term financial crises when other alternatives are not an option.

     <<<< Click Here for Instant Approval Payday Loans! >>>>

    Who Should Consider 1-Hour Payday Loans?

    Such loans suit especially:

    • People with an unexpected emergency expense
    • Individuals with bad credit and cannot get regular loans
    • Employees who require cash before their next wage
    • People who have used other sources of funds to the last reserve
    • Those requiring instant funds beyond banking hours
    • Those who want to evade overdraft charges or late payment fees
    • Those who want to meet urgent financial demands immediately

    Due to their additional charges, these loans should, however, be used only in true emergencies and not in normal expenditures or discretionary purchases.

    How to Qualify for a 1-Hour Payday Loan?

    Requirements for qualification are generally minimal:

    Basic requirements:

    • Age 18 and above
    • Open checking account
    • Evidence of consistent income
    • Valid state ID or driver’s license
    • Active phone number and email address

    Income verification can be:

    • Recent pay stubs
    • Bank statements with direct deposit indications
    • Proof of benefits or other periodic income

    Minimum monthly income of $1,000 to $1,500 is common among most lenders, although requirements may differ precisely. Fortunately, the income source tends to be more flexible and may include:

    • Traditional jobs
    • Self-employment income
    • Regular government benefits
    • Pension payments
    • Periodic alimony or child support payments

     <<<< Bad Credit OK – Fast Approval, No Hassle! >>>>

    What Is a $255 Payday Loan & Why Is It So Prevalent?

    The $255 payday loan with no credit check is now a regular feature because of state rules in states such as California. This exact figure is the maximum value payday loan permitted by some state laws after fees have been taken out.

    These loans usually:

    • Have a 14-30 day repayment term
    • Have a single lump sum payout
    • Include fixed fees based on state limits
    • Have streamlined processing procedures

    The standardized quantity simplifies processing for lenders while giving borrowers a consistent loan product that meets local law.

    What No Credit Check and Guaranteed Approval Loans Truly Mean

    It’s helpful to know what “no credit check” truly signifies. The majority of payday lenders:

    • Don’t perform standard credit checks with large bureaus (Experian, Equifax, TransUnion)
    • Do check identity, income, and banking data
    • May pull alternative databases to check for current payday loans
    • Emphasize your repayment potential according to your income now

    Although approval rates are good, “guaranteed approval” is more hype than fact. Applicants still need to qualify based on minimum criteria. Nevertheless, a history of credit issues generally won’t exclude you if repayment can now be supported by income.

     <<<< 1-Hour Payday Loans – Even with Bad Credit! >>>>

    Loans for Bad Credit (Bad Credit Loans) – Your Alternatives Beyond the Traditional Bank

    Bad Credit Loans Vs. No Credit Check Loans

    If dealing with imperfect credit, you have two chief options:

    Bad credit loans:

    • Do involve credit checks
    • Take your credit score into account, but have more lenient requirements
    • May have lower interest rates than no-credit-check alternatives
    • Often have larger loan amounts and longer repayment periods
    • May assist in rebuilding credit through payment reporting

    No credit check loans:

    • Do not involve traditional credit checks
    • Are based solely on income verification
    • Generally, provide quicker approval
    • Tend to have higher fees because of higher lender risk
    • Generally, provide less money

    How To Get Approved Even With Low Credit Score?

    Improve your chances of acceptance by:

    • Presenting evidence of steady employment
    • Maintaining a bank account in good standing
    • Requesting a suitable amount in proportion to your income
    • Declaring all sources of income on your application
    • Verifying your contact details
    • Being truthful about your financial condition

    Even with bad credit, showing steady income greatly improves your chances of being accepted for different loan alternatives.

      <<<< Get a $100 Payday Loan in 1 Hour – No Credit Check! >>>>

    Alternatives to Payday Loans for Bad Credit

    Personal Loans For Bad Credit

    Some payday lenders offer personal loans for individuals with bad credit:

    • Lower rates than payday loans
    • Extended repayment periods (3-36 months)
    • Installment loan structures
    • Credit building potential through payment reporting

    Credit Unions

    Most credit unions provide payday alternative loans (PALs) with:

    • Caps on lower interest rates
    • Fees capped at application fees
    • Terms of 1-12 months
    • Loan limits of up to $2,000
    • No rollover to prevent debt traps

    Online Installment Loans

    These loans offer:

    • Fixed monthly payments
    • Clear fee structures
    • Longer repayment terms
    • Smaller payment size
    • Possibility of bigger loan size

    Peer-To-Peer Lending

    P2P sites link borrowers directly with personal investors:

    • Interest rates determined by multiple factors other than credit score
    • More lenient approval terms
    • Faster funding than traditional banks, possibly
    • Multiple loan uses and sizes

    Online Payday Lenders: What to Look Out For

    When shopping for an online payday lender, look at these things:

    • Licensing – Check the lender is licensed in your state
    • Transparency – Fees and terms should be clearly explained
    • Reputation – Verify customer reviews and Better Business Bureau ratings
    • Security – Verify the site employs encryption for data security
    • Customer service – Verify responsive support is available
    • Funding speed – Verify actual funding speeds comply with advertised claims
    • Collection practices – See how they deal with late payments
    • Privacy policy – See how your data will be handled

    Legitimate lenders will always verify your ability to repay, so be wary of any company offering truly “guaranteed” approval without income verification.

      <<<< Guaranteed $100 Payday Loan – No Questions Asked! >>>>

    Direct Lender vs Loan Broker – Which Is Better for You?

    Direct Lenders:

    • Fund loans directly from their own resources
    • Process applications in-house
    • Often provide faster funding
    • Typically have more transparent fee structures
    • Offer direct customer service throughout the loan process

    Loan Brokers:

    • Connect borrowers with multiple potential lenders
    • May help find better rates through comparison
    • Frequently deal with borrowers rejected elsewhere
    • Occasionally charge extra fees for their services
    • Can share your details with several different companies

    For convenience and quickness, direct lenders such as Low Credit Finance offer the easiest experience, particularly for urgent funding requirements for getting a $255 payday loan online same day with no credit check.

    Pros and Cons of 1 Hour Payday Loans No Credit Check

    Pros:

    • Quick access to urgent funds
    • Accessible even with a bad credit record
    • Easy application process
    • No collateral needed
    • Available outside regular banking hours
    • Transparent, upfront cost basis
    • Regulated industry with consumer protections

    Cons:

    • Increased fees over ordinary loans
    • Short time to repay
    • Potential debt trap if used over and over
    • Small loan amounts
    • Not offered in all states because of regulation
    • Not ideal for long-term financial requirements
    • May not assist in credit score building

    These loans are best used as periodic emergency measures and not as a standard money machine.

      <<<< Same-Day Payday Loan – No Credit Check Required! >>>>

    Tips for Choosing the Right Direct Lender

    Choose a reliable payday loan lender by:

    • Verifying licenses – Check that they’re properly licensed in your state
    • Reading the fine print – Understand all fees and terms before agreeing
    • Checking reviews – Look for consistent positive customer experiences
    • Confirming funding times – Ensure they can actually deliver within the promised timeframe
    • Understanding repayment options – Know what happens if you can’t pay on time
    • Examining security measures – Verify they protect your sensitive information
    • Testing customer service – Call them with questions before applying

    A good lender will be upfront about every part of the loan process and won’t try to get you to borrow more than you require.

    Guaranteed $100 Loan No Credit Check Near Me: Where to Find Payday Loans Online Same Day?

    When you are looking for payday loans same day online or a no credit check $100 loan, Low Credit Finance is the most trustworthy choice. With their national coverage, you won’t have to look for “loans near me” – their website can be accessed from anywhere with an internet connection.

    Low Credit Finance provides:

    • Online applications available 24/7
    • Coverage in states where payday lending is permitted
    • Continual service wherever you are
    • Direct bank account deposit
    • No need to go to a physical office

    That accessibility allows you to apply from home, work, or even while on the road, without having to locate a local lender with work hours convenient to your schedule.

      <<<< Apply Now & Get Money in Your Account Today! >>>>

    Conclusion: Is a 1-Hour Payday Loan Right for You?

    A 1-hour payday loan can be a speedy solution in true financial emergencies when you need money ahead of your next paycheck. Convenient and accessible as they are, though, such loans should be utilized minimally because of their increased charges. Before it’s too late, make sure you can pay on time and opt for a good company such as Low Credit Finance with clear-cut terms. Used responsibly—borrowing only what is necessary with a well-planned repayment schedule—such loans are a good short-term solution without causing any extra financial burden.

    Frequently Asked Questions

    Can I get a payday loan with a 500 credit score?

    Yes, most payday lenders have no problem accepting applicants with a 500 credit score because they are more interested in income than credit history.

    How can I borrow money in one day?

    You may qualify for an online application with a same-day payday loan or cash advance app that provides rapid approval and direct deposit.

    How can I get $1000 today?

    To get $1000 today, try applying for an online payday or installment loan with same-day funding, depending on your eligibility.

    Attachment

    The MIL Network –

  • MIL-OSI: Safe Harbor Financial Partners with Bennett Thrasher to Deliver Advanced Financial Services to Cannabis Operators Nationwide

    Source: GlobeNewswire (MIL-OSI)

    DENVER, May 29, 2025 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a Safe Harbor Financial (Safe Harbor) (Nasdaq: SHFS), a fintech leader in facilitating financial services and credit facilities to the cannabis industry, announced a strategic partnership with Bennett Thrasher, a leading accounting and advisory firm. This collaboration brings rigorous financial compliance and advisory services to businesses operating in regulated markets — supporting operational and financial compliance from startup through expansion.

    Through this partnership, Safe Harbor clients gain access to a full suite of financial and advisory services tailored specifically for cannabis businesses, including:

    • Annual audits and quarterly reviews to ensure transparency and boost stakeholder confidence
    • Tax preparation and filing designed to navigate the complexities of tax law, including 280E
    • Ongoing financial and tax advisory to support strategic planning and compliance
    • Corporate valuations to guide capital raises, acquisitions, or succession planning
    • M&A transaction support and due diligence for operators pursuing growth or consolidation
    • CFO services and technical accounting to deliver executive-level guidance without in-house overhead

    “Whether a cannabis business is launching, expanding, or preparing for a capital event, financial clarity is essential,” said Terrance Mendez, CEO of Safe Harbor Financial. “This partnership addresses a critical gap in financial infrastructure for businesses operating in this highly regulated space. It reflects our broader mission: to equip operators of all sizes with the tools, guidance, and infrastructure they need to grow with confidence.”

    “Safe Harbor’s platform is built on transparency and trust — values we share,” said Richard Bartolanzo, Partner at Bennett Thrasher. “By embedding our tax and audit services into Safe Harbor’s ecosystem, regulated operators can access financial functions with ease. Together, we’re helping clients operate with greater efficiency, accuracy, and confidence in a complex environment.”

    Why This Matters
    Operators in regulated industries face a wide range of financial challenges, from the complexities of 280E tax law to investor expectations and limited access to traditional advisory services. Many businesses — whether just starting out or well-established — struggle to meet these demands without experienced support. By integrating Bennett Thrasher’s expertise into the Safe Harbor platform, operators can:

    • Improve audit readiness and financial hygiene
    • Build credibility with investors, lenders, and regulators
    • Avoid costly tax errors and compliance missteps
    • Make smarter decisions with strategic financial guidance
    • Gain CFO-level insight without the cost of a full-time hire

    Together, Safe Harbor and Bennett Thrasher are delivering the next generation of cannabis financial support, giving operators the infrastructure they need to grow responsibly and sustainably. For more information, visit www.shfinancial.org.

    About Bennett Thrasher
    For more than 45 years, Bennett Thrasher has provided businesses and individuals with strategic business guidance and solutions through professional tax, audit, advisory and outsourcing services. Whether you’re a client or an associate, we help transform your vision into unprecedented success. Our approach has catapulted us into the ranks of the largest and fastest growing public accounting and advisory firms. Bennett Thrasher operates globally from our headquarters in Atlanta and is committed to diversity and the communities we serve. To learn more about Bennett Thrasher, visit us at www.btcpa.net.

    About Safe Harbor: 
    Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and U.S. territories with regulated cannabis markets.

    Cautionary Statement Regarding Forward-Looking Statements:
    Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S. and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Safe Harbor Investor Relations Contact: 
    Mike Regan, Head of Safe Harbor Investor Relations
    ir@SHFinancial.org

    Safe Harbor Media Relations Contact:
    Ellen Mellody
    570-209-2947
    safeharbor@kcsa.com

    The MIL Network –

  • MIL-OSI: Fluent, Inc. Expands Board of Advisors, Tapping Industry Experts for Commerce Media Growth

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) — Fluent, Inc. (NASDAQ: FLNT), a leading provider of commerce media solutions, today announced the expansion of its advisory leadership with the introduction of its inaugural Board of Advisors. This strategic initiative brings together industry leaders with deep expertise across ecommerce, digital marketing, and consumer technology to accelerate the expansion of its Commerce Media Solutions and guide continued growth and product innovation.

    The Board will partner with Fluent’s executive team to inform strategic decision-making, enhance brand and advertiser partnerships, guide the product roadmap, and identify new revenue opportunities within the evolving commerce media landscape.

    An Elite Group of Industry Trailblazers

    Fluent’s Board of Advisors features a roster of distinguished industry veterans who have a proven track record in scaling high-growth businesses, pioneering digital transformation, and building world-class consumer experiences.

    Drew Cashmore

    Drew Cashmore is a commerce executive with a deep background in building and scaling intrapreneurial ventures within major global retailers. As a former executive and original architect of Walmart Connect in the U.S. and Canada, Drew played an integral role in scaling the business beyond $2 billion, spearheading initiatives such as branding and in-store advertising strategies. He has also served as CMO of the SoftBank-backed Live Shopping platform, Firework, and is currently the Co-Founder and Managing Director of Adaptive Retail Group, a new retail innovation platform. Beyond his professional achievements, Drew is also a startup advisor, angel investor, public speaker, and thought leader in retail innovation.

    Charlie Cole

    Charlie Cole is a seasoned executive with deep expertise in digital transformation and ecommerce across entrepreneurial, enterprise, and corporate landscapes. A two-time turnaround CEO, he spearheaded digital evolution at Tribute Technology and FTD, modernizing technological infrastructure with a consumer-first approach. Previously, he was the first Global Chief eCommerce Officer for Samsonite while also serving as Chief Digital Officer for Tumi, driving digital strategy for both brands. His leadership spans retail, CPG, and technology, with key roles at Reckitt Benckiser (Schiff Nutrition) and Lucky Brand Jeans. Now, as President of XGEN, he brings generative AI solutions to ecommerce brands.

    Shawna Hausman

    Shawna Hausman is an ecommerce and digital marketing executive with expertise in driving growth for companies at key inflection points, from turnaround and launch to post-acquisition. As Principal of her own consulting practice, she advises high-growth brands like Alloy Health, Womaness, and WorkMoney on ecommerce, CRM, loyalty, and digital marketing strategies. Previously, as CMO at FSA Store, Shawna led a 300% increase in topline revenue, contributing to the company’s acquisition by H.I.G. Capital in 2024. Shawna has held leadership roles at top brands including Victoria’s Secret, Esprit, West Elm, Mission Athletecare, and American Eagle. She also serves on the Board of Advisors for CommerceNext, a community for ecommerce and marketing executives.

    Jennifer Olsen

    Jenny Olsen is a visionary leader with a proven track record of driving growth and transformation at public and venture-backed companies. As Chief Marketing Officer of Caleres (NYSE: CAL), Jenny led a reimagination of the company’s marketing function and technologies that increased customer loyalty and revenue across the $3B portfolio of global footwear brands. During her tenure on the leadership team, the company’s market cap increased by 40%. As CMO of UNTUCKit, Jenny transformed the marketing team and brand presentation, helping ignite a 100% increase in revenue. Jenny has held marketing leadership roles at Crate & Barrel, Yahoo!, and Gap Inc., and currently serves on the boards of Vessi (100% waterproof sneakers) and Fair Harbor (sustainable swimwear and apparel).

    Brian Wong

    Brian Wong is the Founding Partner at Ascii Ventures, where he invests in early-stage companies across fintech, Web3, SaaS, ecommerce, and martech. He previously co-founded Kiip, a mobile rewards platform credited with creating “moments marketing” — a breakthrough approach to consumer engagement based on real-time mobile behavior. Kiip raised over $40 million from top-tier investors and partnered with global brands including Amazon, Target, and McDonald’s before its acquisition in 2020. Named to Forbes’ “30 Under 30” and AdAge’s “Creativity Top 50,” Brian is also the author of The Cheat Code, a bestselling guide to creative and entrepreneurial shortcuts published in multiple languages and featured in Forbes, CNBC, and The Telegraph.

    Strategic Counsel for a New Era of Commerce Media

    “We’re honored to bring together such a dynamic and accomplished group for our Board of Advisors,” said Jessica Batty, SVP of Marketing at Fluent. “Their deep expertise in retail, ecommerce, and digital transformation will be instrumental as we continue to expand our market presence and deliver leading-edge commerce media solutions for partners and advertisers.”

    The formation of the Board of Advisors builds on Fluent’s strong momentum in commerce media, following triple-digit year-over-year revenue growth in its unaudited Q4 results. By bringing together top industry talent, Fluent reaffirms its commitment to innovation, strategic leadership, and delivering scalable solutions that empower brands to maximize revenue opportunities and create more meaningful consumer experiences.

    For more information about Fluent and its Board of Advisors, visit www.fluentco.com.

    About Fluent, Inc.

    Fluent, Inc. (NASDAQ: FLNT) is a commerce media solutions provider connecting top-tier brands with highly engaged consumers. Leveraging exclusive ad inventory, robust first-party data, and proprietary machine learning, Fluent unlocks additional revenue streams for partners and empowers advertisers to acquire their most valuable customers at scale. Founded in 2010, Fluent uses its deep expertise in performance marketing to drive monetization and increase engagement at key touchpoints across the customer journey. For more insights visit https://www.fluentco.com/.

    Contact Information

    Investor Relations
    Fluent, Inc.
    InvestorRelations@fluentco.com

    The MIL Network –

  • MIL-OSI: $500 Dollar Loan: Bad Credit, No Credit Check, Same Day, Direct Lenders, Instant Approval – Super Personal Finder

    Source: GlobeNewswire (MIL-OSI)

    New York City, May 29, 2025 (GLOBE NEWSWIRE) — When unexpected bills come along, a $500 loan can be just the lifeline you’re looking for to get you back on your feet. If it’s a medical crisis, car repair, or just a pressing bill that can’t wait until your next paycheck, access to fast cash can be the difference-maker. This comprehensive guide will walk you through all that you’d love to learn about $500 loans, from selecting the best lender to understanding how to apply, especially when you have bad credit.

    Most Reliable Platform For $500 Loans for Bad Credit in Michigan and Other US States – Why Super Personal Finder Stands Out

    When you are facing a financial crisis and need instant cash, finding a good lender appears impossible, especially if you have bad credit. Super Personal Finder is now the most trusted platform for Michigan and other states’ borrowers who need quick access to small-dollar loans.

    What sets Super Personal Finder apart is that they are honest and possess an extensive network of verified lenders who specialize in working with borrowers who have subpar credit scores. While traditional banks may take weeks to review applications, Super Personal Finder introduces you to lenders who can provide you with quick approval and instant cash.

    <<<< Get $500 Today – No Credit Check Needed! >>>>

    What Is a 500 Dollar Loan and When Do You Need It?

    A $500 loan is a quick source of economic assistance to help you cover surprise costs or bridge the gap between paychecks. They are most often unsecured loans, which means you will not have to mortgage some collateral such as your car or home.

    Some of the typical situations when you would need a $500 loan are:

    • Medical emergencies or unexpected healthcare costs
    • Car repair that you cannot wait until payday
    • Emergency home repairs like plumbing or electrical work
    • Utility bills to avoid service disconnection
    • Unplanned travel expenses for family crises

    The real advantage of a $500 loan is its reasonable amount – large enough to deal with most small emergencies but small enough to repay relatively fast without hurting your budget too much.

    Get a $500 Loan Instantly – Even With Bad Credit or No Credit Check With Super Personal Finder (Best Place to Apply For A $500 PayDay Loan)

    Super Personal Finder is a loan matching service that brings you together with a community of licensed lenders. Super Personal Finder does not lend you money themselves but uses advanced matching technology to pair you with lenders who are most likely to fund your loan application based on your individual financial situation.

    Their platform is designed with user experience in mind, featuring a simple online application that takes just minutes to complete. Once submitted, their system works around the clock to find suitable lending partners for your needs.

    <<<< Apply Now & Get Approved in Minutes – $500 Fast! >>>>

    Why Super Personal Finder Is the Best Place to Apply For A 500 Dollar Loan

    Several factors make Super Personal Finder an excellent choice for your borrowing needs:

    • Extensive Lender Network: Access to hundreds of verified lenders increases your chances of approval
    • Bad Credit Friendly: Many partner lenders specialize in working with borrowers who have poor credit histories
    • Fast Process: Most applicants receive loan offers within minutes of applying
    • No Obligation: You can review loan terms before accepting any offer
    • Secure Platform: Industry-standard encryption protects your personal information

    Understanding a Short-Term Loan

    Short-term loans are instruments that need to be repaid in the short term, typically within a few months to a few weeks. In contrast to personal loans whose loan repayment terms can run into years, short-term loans need to be employed for temporary financial needs.

    These loans normally carry a higher rate of interest compared to long-term loans because the lenders take on greater risk with shorter repayment periods. However, because the sum of the loan is comparatively small and the period is brief, the overall price can be more affordable if you repay on time.

    Types of 500 Dollar Loans

    1. Payday Loans

    These are typically due on your next payday and for extremely short-term use. They are easy to qualify for but with high fees.

    2. Installment Loans

    These allow you to repay the loan in a series of months with fixed monthly payments, making budgeting easier.

    3. Cash Advance

    This type of loan provides immediate cash, with same-day funding being typical.

    All have their advantages and merits, so it’s a good idea to choose the one that best fits your repayment capacity and timeline.

    <<<< 3-Minute Application. Instant Approval. $500 Today! >>>>

    Advantages of a 500 Dollar Loan

    • Convenient Cash Availability: Majority of lenders can release funds within 24 hours of sanction, with some releasing funds on the same day.
    • Simple Qualification Terms: In contrast to bank loans, $500 loans typically have simpler credit terms.
    • No Collateral Required: They are often unsecured loans, meaning you don’t stand to lose personal property.
    • Helps Build Credit: If you pay as agreed, some lenders report positive payment history to credit bureaus.
    • Covers Emergency Expenses: Optimal size for paying most unexpected expenses without borrowing more than required.

    Who Should Apply for a $500 Loan with Bad Credit?

    A $500 loan could be what you need if:

    • You have a steady source of income
    • You need cash for a real emergency
    • You can afford to repay the loan within time
    • You’ve exhausted other options like borrowing from family members
    • Your credit prevents you from borrowing from mainstream banks

    When to Avoid

    Don’t do it if:

    • You currently have multiple debts that you’re having a hard time with
    • The expense isn’t really urgent
    • You have access to cheaper alternatives
    • You’re not sure about whether or not you can repay within time

    <<<< Stop Waiting – Get Your $500 Loan Right Now! >>>

    What is Bad Credit?

    Bad credit typically equates to a FICO score of less than 580, though some lenders consider scores of less than 620 subprime. Bad credit can be caused by:

    • Late or missed payments
    • High credit card balances
    • Bankruptcy or foreclosure
    • Short credit history

    Effects of Bad Credit on Loan Approval

    Bad credit is not necessarily going to disqualify you from getting a loan, but it will affect:

    • Interest rates: Pay higher
    • Loan terms: May have shorter loan terms
    • Lender availability: Few traditional lenders will work with you
    • Documents required: May need to provide more proof of income

    Can You Get a Loan With No Credit Check?

    Yes, but while a few lenders advertise “no credit check” loans, most of them do at least make a soft credit check that won’t be reported against you. There really are no no-credit-check loans and they carry extremely high fees.

     <<<< Click Here to Claim Your $500 Loan Instantly! >>>>

    Is It Possible To Get $500 Loan With Bad Credit?

    Yes, it is quite possible to get a $500 loan even with a bad credit. There are many online lenders that work with borrowers with low credit scores. These lenders focus more on your current income and ability to repay than on your past credit mistakes.

    The trick is to identify lenders who know that a low credit score doesn’t always equate to being a high risk for a small, short-term loan. Most bad credit individuals are just rebuilding their finances and are solid borrowers when given the opportunity.

    Types of Lenders Available for Bad Credit Borrowers

    When seeking alternative lending, look at these types of lenders:

    • Online Direct Lenders: Frequently have looser standards than banks
    • Credit Unions: Occasionally offer payday loan alternatives with better terms
    • Storefront Lenders: Provide face-to-face service but charge more
    • Tribal Loan Lenders: Are licensed differently but make sure they are legitimate

    For any state, always verify lenders are licensed in your state before applying.

    Online Direct Lenders Who Provide Loans With Bad Credit

    In seeking good bad credit loans online, seek these attributes in lenders:

    • Transparent fees with no surprises
    • Affordable repayment terms that meet your needs
    • Good customer feedback and BBB ratings
    • Clear privacy policies that safeguard your data
    • Several ways to reach customer service

    Bad credit loans online are common, but quality varies a lot among lenders. Always do a lot of research on prospective lenders prior to applying for a loan.

     <<<< Get $500 Today – No Credit Check Needed! >>>>

    How to Apply for a Loan With Bad Credit

    Approval loans bad credit usually follow the following steps:

    • Research Lenders: Compare rates, terms, and requirements
    • Gather Documentation: Have proof of income and ID in hand
    • Complete Application: Complete the online application accurately
    • Review Offers: Compare loan terms from several lenders
    • Accept Terms: Choose the best offer and complete the process

    Applications are mostly finished completely online in less than 10 minutes.

    Documents Needed to Apply for a $500 Loan Online

    Typical documents are:

    • Government-issued ID
    • Proof of income (pay stubs, bank statement)
    • Social Security number
    • Bank details for depositing the money
    • Phone number and email address

    It can speed up the approval process of getting a $500 as well as a $255 payday loan online, same day a lot if you have these documents ready.

     <<<< Apply Now & Get Approved in Minutes – $500 Fast! >>>>

    $500 Loan No Credit Check – Can You Really Avoid a Credit Pull?

    While a $500 no credit check loan is appealing, actual no-credit-check loans are rare. The vast majority of all legitimate lenders at least perform a soft credit check to verify your identity and assess minimal creditworthiness.

    What Does “No Credit Check” Really Imply?

    When lenders advertise “no credit check,” they usually mean:

    • No hard credit pull that affects your credit report
    • They may still conduct a soft credit inquiry
    • They stress more on income verification
    • They rely on other data sources to assess risk

    Are No Credit Check Loans Safe?

    Yes, safe, no denial payday loans direct lenders only does exist, but watch out for:

    • Extremely high interest fees or rates
    • Lenders who request money upfront
    • Unclear terms and conditions
    • Not licensing your state properly

    Instant 500 Dollar Loan – How to Get $500 Fast With Same-Day or Instant Funding Options

    An instant 500 dollar loan typically provides the option for immediate approval, although actual funding is usually a couple of hours to one business day. For the fastest funding:

    • Apply early in the weekday day
    • Use direct deposit to checking account
    • Choose lenders that offer expedited processing
    • Have all documents ready before applying

     <<<< 3-Minute Application. Instant Approval. $500 Today! >>>>

    How the Online Application Process Works

    It’s a speed and convenience process:

    • Fill out a brief online application
    • Receive an immediate pre-qualification decision
    • Review and accept loan terms
    • Check income and identity
    • Receive money transferred to your account
    • Most borrowers complete all this within 24 hours.

    Things To Know If You Need a Personal Loan and Have Bad Credit

    1. How Personal Loans Differ from Payday Loans

    Need a personal loan but bad credit? Knowing the differences helps you make an informed choice:

    Personal Loans:

    • Long payment terms (months to years)
    • Lower interest rates typically
    • Fixed monthly payment
    • May require better credit

    Payday Loans:

    • Short terms (2-4 weeks usually)
    • Higher rate but shorter duration
    • Lump sum payment
    • Easier qualification requirements

     <<<< Stop Waiting – Get Your $500 Loan Right Now! >>>

    2. Like Personal Loans? Consider These Alternatives

    Want longer payment terms:

    • Credit union loans are likely to come with competitive rates
    • Peer-to-peer lending sites
    • Online personal loan companies
    • Secured personal loans with collateral

    3. How Can I Get a Personal Loan With Bad Credit? Steps to Increase Approval Odds

    Apply these tips:

    • Improve Your Application: Provide complete, truthful information
    • Show Stable Income: Present consistent work history
    • Use a Co-signer: An individual with good credit can strengthen your application
    • Apply with Several Lenders: Different lenders have different requirements
    • Begin Small: Set yourself up with a small loan prior to anything larger

    Avoiding Rejection and Protecting Your Score

    • Only apply when you meet minimum requirements
    • No more than a few applications so you don’t have multiple hard inquiries
    • Employ pre-qualification resources that make soft credit pulls
    • Boost your credit score between applications

    $500 Cash Advance vs. 500 Dollar Loan: What’s the Difference?

    While these terms are usually used synonymously, there are subtleties:

    $500 Cash Advance:

    • Tends to refer to payday loans or credit card cash advances
    • Tends to have more fees
    • May have different terms of repayment

    500 Dollar Loan:

    • Broader term to include various loan types
    • Can include installment loan features
    • Can have more favorable terms

      <<<< Click Here to Claim Your $500 Loan Instantly! >>>>

    Can a $500 Cash Advance Affect Your Credit Score?

    Yes, a $500 cash advance can affect your credit in a variety of different ways:

    • Hard Pull: The process will cause your score to go down temporarily
    • Credit Utilization: Affects your credit utilization ratio
    • Payment History: Late payments will negatively affect your score
    • Positive Impact: Timely payments can help to establish credit

    Understanding the Costs: Interest Rates & Fees

    Loans of $500 typically come with the following fees:

    • Annual Percentage Rate (APR): 200% to 700% for payday loans
    • Origination Fees: Some lenders charge up-front fees
    • Late Payment Fees: Fees for making late payments
    • Rollover Fees: Fees associated with rolling over loan terms

    Always calculate the total cost before accepting any loan offer.

    Pros and Cons of a $500 Short-Term Loan

    Pros:

    • Convenient access to emergency funds
    • No need for collateral
    • Can build credit with regular payments
    • Accessible with bad credit
    • Reasonable size of loan

    Cons:

    • High interest charges and fees
    • Brief payment terms are hard
    • Risk of debt trap if not managed carefully
    • May not solve root financial issues

    Tips to Get Approved for a 500 Loan

    Study Lenders Thoroughly: Search for well-established companies with good reputations and valid permits.

    • Provide Accurate Information: Inconsistencies on your form can lead to rejection.
    • Demonstrate Steady Income: Show steady work or sources of income.
    • Submit Multiple Applications: Different approval criteria are used by lenders.
    • Schedule Your Application: Apply between weekday business hours for faster processing.

      <<<< Get $500 Today – No Credit Check Needed! >>>>

    Alternatives to a 500 Dollar Loan

    Before seeking a loan, use these alternatives:

    • Credit Card Cash Advance: Might be cheaper than payday loans
    • Borrow from Friends or Family: Interest-free loan if possible
    • Sell Gently Used Items: Quick source of cash
    • Take Up Side Jobs: Gig economy jobs
    • Negotiate Payment Arrangements: Most creditors will accept payment extensions
    • Community Aid Programs: Neighborhood charities to pay for special expenses

    Repaying Your 500 Dollar Loan On Time – Loan Repayment Tips

    • Make Automatic Payments: Never be late with a payment.
    • Budget Repayment: Provide for repayment in your budget planning.
    • Pay Early If Possible: Save interest costs by paying sooner.
    • Talk to Your Lender: Inform them immediately if you are experiencing difficulty with repayments.
    • Steer Clear of Rollovers: They extend the duration of your loan but at huge costs.

    What Happens If You Default?

    Defaulting on a $500 loan can have grave effects:

    • Damage to Credit Score: Late payments and defaults are sent to credit bureaus
    • Collection Attempts: Collection agents may be hired by lenders
    • Extra Charges: Late charges and collection fees add to your debt
    • Legal Measures: In extreme cases, lenders have the option of courts
    • Bank Account Issues: Some lenders will attempt to collect from your bank account

    Top Lenders Offering a $500 Payday Loan With Bad Credit: Where to Get a $500 Payday Loan?

    When you need a payday loan guaranteed approval, Super Personal Finder is the top destination for bad credit borrowers. Their pool of validated lenders is best positioned to provide bad credit loans in michigan and all US states, thus being the place for quick cash solutions.

    Super Personal Finder earned its position as the best loan matching company because it consistently links borrowers with legitimate lenders who understand that bad credit is not your indicator for paying back a short term loan. Their website makes the entire process, from application to funding, simple and hassle-free so that you can have the funds you need without unnecessary delays or frustration.

     <<<< Apply Now & Get Approved in Minutes – $500 Fast! >>>>

    Final Thoughts – How a 500 Dollar Loan Can Help in Emergencies

    A 500 dollar loan can be a good financial assistance when responsibly used for real emergencies. Although such loans are more expensive than conventional financing, they offer life-saving access to capital when you most need it.

    The key to success with any short-term loan is to have a good repayment strategy in hand before you borrow. Ensure that you understand all the fees and that you can realistically make payments on time. Used responsibly, a $500 loan can help you pay for an emergency without disrupting your overall financial stability.

    Remember that these loans have to be applied as short-term solutions, and not long-term planning. If you are always in need of emergency loans, then it is maybe time to have an emergency fund created or address some underlying budget issues.

    Always shop around, check the terms, and choose reputable lenders that are open about their fees and terms. Used wisely and carefully considered, a $500 loan can provide you with the economic oxygen you need when you need it most.

    Frequently Asked Questions

    Can you get a loan with 500?

    Yes, you can still be approved for a $500 loan even when you have a 500 credit score, particularly from lenders that offer bad credit loans.

    Can I borrow $500 from Bank of America?

    No, Bank of America does not usually provide small-dollar loans such as $500, but you are eligible for their Balance Assist program when you are an active account holder.

    Can I get a loan with 550?

    Yes, online lenders and credit unions offer loans to individuals with a 550 credit score, but at a higher interest rate.

    Who can loan me 5000 dollars?

    Online lending sites, credit unions, and certain direct lenders can give you a $5,000 loan even when your credit isn’t perfect.

    Can I get a 500 dollar loan for bad credit with no credit check?

    Yes, there are lenders providing $500 loans no credit check, although they may charge additional fees or higher interest rates as a reward for the risk.

    What are the risks of taking personal loans for bad credit guaranteed approval?

    The largest dangers are outrageous interest rates, concealed fees, and the danger of being in debt if you fail to pay on time.

    Which lenders offer the best loans for poor credit with fast funding?

    Super Personal Finder is an online money lender which is reputed to provide quick personal loans to individuals with bad credit.

    Do extremely bad credit loans come with higher interest rates?

    Yes, extremely bad credit loans generally have much higher interest rates as lenders view such borrowers as high risk.

    Attachment

    The MIL Network –

  • MIL-OSI: Genesis Future-Proofs Reporting Functions in Financial Applications

    Source: GlobeNewswire (MIL-OSI)

    LONDON and NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) — Genesis Global, the AI-native application development platform purpose-built for financial markets organizations, announced that end-users now have full control over creating, modifying and distributing reports driven by application data. This capability makes firms more responsive to business and client needs.

    Traditionally, developers need to modify application code when reporting requirements inevitably change. That is no longer the case for applications built with the Genesis platform.

    “This fundamental shift in how we address reporting is part of a platform-wide initiative to use AI and other technologies to make businesspeople in financial firms more autonomous in building and adapting software applications,” said Tej Sidhu, Chief Technology Officer at Genesis Global. “The component-based architecture in Genesis gives us unique ability to transform application subfunctions, like reporting. It also provides a controlled framework for AI to assist domain experts in building applications, especially those that replace spreadsheet-driven processes, and inherent guardrails that govern how AI agents interface with Genesis applications.”

    The reengineered Reporting Component creates any type of document driven by application data. These range from simple data-focused reports like CSV or Excel files for internal teams to graphic-rich, client-facing documents like trade confirmations, invoices and portfolio proposals.

    The component’s UI-based toolkit gives end-users direct control over configuring, designing, scheduling and distributing their reports. Specifically, users can:

    • Select and filter the application data they want in a report
    • Format how data is presented in a report
    • Create the report style, including graphics, logos, etc.
    • Define file type, including files uploadable to other applications
    • Choose distribution channel (email, screen alert, document library)
    • Schedule when reports are generated and distributed
    • View an archive of previously generated reports

    In delivering this transformative reporting capability, Genesis provides multiple benefits to clients, including:

    • Making businesses more responsive to client requests, because they can produce a custom report on demand
    • Improving data-driven decision making, because the business can easily get the report they want, when they want it
    • Freeing developer capacity, because IT staff don’t need to re-code applications when reporting needs change

    “In a traditional application and data management environment, reporting is a static operation and when needs change, you need technical experts to rework the system,” explained Jay Taylerson, Principal Platform Product Manager at Genesis Global. “With our technology, not only is the application itself flexible, but we empower end-users with direct control over reporting functions.”

    The component-based architecture of the Genesis platform makes it easy to add the Reporting Component and all that it offers to application builds. When Genesis updates a component, like Reporting, it is automatically delivered to users’ platform libraries.

    In the Genesis Application Platform, Reporting typically is used in conjunction with other document- and workflow-related components, including Document Management, Document Generation and Notifications & Alerts.

    A short Genesis video shows how intuitive it is for an end-user to create a report, select data, change report templates, schedule and distribute the report.

    About Genesis Global
    Genesis Global enables financial markets organizations to innovate at speed through its AI-native software application development platform and deep expertise in capital markets and financial services. In supercharging developers and non-technical domain experts to rapidly deliver high-performance, resilient and secure applications, Genesis replaces the buy vs. build challenge with a buy-to-build solution.

    The Genesis platform is designed with flexibility and performance at its core, providing the frameworks, integrations and components required to automate manual workflows, enhance legacy systems and build entirely new applications. Featuring a resilient, real-time service-oriented architecture, Genesis excels across the performance envelope of low-latency, high-throughput and high-scalability, powering mission-critical applications at the world’s leading financial institutions.​

    Strategically backed by Bank of America, BNY Mellon and Citi, Genesis Global has offices in London, New York, Miami, Charlotte, São Paulo, Dublin and Bengaluru.

    Media contact:
    Alex Paidas, Corporate Communications, Genesis Global
    alex.paidas@genesis.global    +1 646 246 4889

    The MIL Network –

  • MIL-OSI Banking: RBI imposes monetary penalty on Kunbi Sahakari Bank Ltd., Mumbai, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated May 27, 2025, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Kunbi Sahakari Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF) and certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    The bank had:

    1. sanctioned fresh loans and advances which were not backed by collateral security of term deposits / NSCs / KVPs / insurance policies and also breached the single exposure limit applicable for fresh loans and advances in certain instances, in non-adherence to directions under SAF, and

    2. failed to conduct periodic review of risk categorisation of accounts as per prescribed periodicity.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/431

    MIL OSI Global Banks –

  • MIL-OSI: Canadian Banc Corp. Announces TSX Acceptance of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Canadian Banc Corp. (the “Company”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a Normal Course Issuer Bid (the “NCIB”) to purchase its Preferred Shares and Class A Shares through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on June 2, 2025 and terminate on June 1, 2026.

    Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it is considered advisable, up to 3,742,582 Preferred Shares and 3,778,760 Class A Shares of the Company, representing 10% of the public float of 37,425,824 Preferred Shares and 37,787,604 Class A Shares. As of May 21, 2025, there were 37,448,395 Preferred Shares and 37,821,364 Class A Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 748,967 Preferred Shares or more than 756,427 Class A Shares, being 2% of the issued and outstanding Preferred Shares and Class A Shares as of May 21, 2025. Under the previous normal course issuer bid that commenced on May 29, 2024 and terminated on May 28, 2025, no purchases of Preferred Shares or Class A Shares were made.

    The Board of Directors of the Company, on the advice of Quadravest Capital Management Inc., the Company’s investment manager, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities and in accordance with the rules and policies of the TSX. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled.

    The Company invests in a portfolio of six publicly traded Canadian Banks as follows:

    Bank of Montreal Canadian Imperial Bank of Commerce Royal Bank of Canada
    The Bank of Nova Scotia National Bank of Canada The Toronto-Dominion Bank


    Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

    Investor Relations:  1-877-478-2372
    Local:  416-304-4443
    www.canadianbanc.com
    info@quadravest.com

    The MIL Network –