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Is Plensy™ Leading the Race Against The Cabinet of US’s Proposed Public Credit Reporting Plan?

The Credit Reporting and Lending Industries have long needed a breakthrough in alternative scoring and lending. Now more than ever, especially due to the COVID-19 economic hardships brought on by COVID-19, creditworthiness is perilous for citizens of the United States and globally. In March of 2020, then-Senator, now Vice President publicly Tweeted, “We must suspend wage garnishment, car repossessions, credit card interest and penalties, and any negative credit reporting for the duration of the pandemic (including for at least 120 days after this is over).”

Several years ago, the Founder & CEO of Plensy™ Sam Errama, who provides Lead Generation services for Automotive Dealerships through his company Pownder®, recognized crippling profit margins and punished consumers. These dealerships’ sales departments expressed their inability to provide loan options to customers, and Mr. Errama dived into creating a new points-based lending system and platform called, Plensy™.  

Sam Errama further elaborates, “After witnessing firsthand numerous potential buyer’s credit reports with low or no scores at all in the automotive market, I knew the painful car buying and lending process needed disruption.”  

The credit scoring system used by Americans today was implemented in the ‘80s using an antiquated mathematical algorithm equation. Plensy™’s new lending-points system leverages modern data analytics and algorithmic models to accurately assess a borrower without Increasing credit risk or any basis of discriminatory racial effects and is set to begin beta testing with the automotive market in 2022. By expanding the marketplace, diversifying risk, and creating social impact, Plensy™ is the most intricate and needed part of the equation to disrupt the monopolized for-profit companies —Experian, Transunion, and Equifax.   

Two hundred twenty million US Citizens’ social security, lending collections, and payment data are absorbed by these companies without consumers’ permission or approval, punishing them on race, hospital bills, inquiries, and everything in between. In addition to charging a subscription fee to view credit scores, the big-3 even lower consumer scores when their credit is pulled for lending or applications for homes. 

Demos, a think-tank organization, published a paper written by Associate Director Amy Traub in April of 2019, titled “Establish a Public Credit Registry”; now under Biden’s plan, the monopoly is under a financial microscope. Plensy™ is leading the race and well ahead of this proposed campaign.  

“Plensy™ has solved it. It’s time we evolved with it. So, humanity can thrive, not just survive, by bringing blockchain technology and asset-backed tokenized loans to the credit and lending industry. We are ready to engage with like-minded VC’s and Angel Fund Groups to pursue this endeavor further,” Brandi Kolosky, Chief Growth Officer of Plensy™, further expresses.  

While past performance may be a sufficient indicator for a borrower whose financial circumstances have not changed, that is not the case for many borrowers. In addition to traditional jobs and professions, many borrowers supplement their income through non-traditional means such as e-commerce, multi-level marketing, app driving, and food delivery services. Financial conditions change rapidly, and failure to acknowledge those changes puts a borrower at a significant disadvantage. 

Under the traditional model, a borrower’s credit score can be updated monthly or at least every 45 days. This lag in real-time data is woefully inefficient for today’s fast-paced economic environment, where transactions can be completed within a matter of nanoseconds using blockchain technology.

The current credit scoring system does not consider other important factors, such as government regulations, market conditions, the borrower’s expenses, employment history, the loan terms, or the total down payment the borrower is willing to pay on the transaction.  

The process to obtain lending-points is simple and without cost, through the Plensy™ App. Connect your bank accounts, add proof of rental or mortgage payment history, upload copies of your legal identifications such as driver’s license or passport, as well as additional variables that can raise your lending points.  

Plensy™ issues these lending points based on a lending point application programming interface (API) that inputs the data into the Plensy™ algorithm. The API is available to sellers and calculates the borrower’s tier-based upon relevant data inputs. A borrower may change their tier anytime, without penalty or fees, by changing input variables, such as the amount of down payment, the purchase of warranties or additional insurance, or liens on other assets. 

Once the loan terms are agreed upon, and the parties enter into a contract to repay the loan, the loan contract is uploaded on the Plensy’s digital platform. A smart contract created by blockchain technology allows full transparency of terms to all interested parties. The asset, title, and tokens associated with the loan are all linked by a smart contract. Tokens are released to the network for trading based on the value of the asset. Plensy™’s Blockchain technology allows for transparency of a digital asset’s current value by maintaining a decentralized public ledger available to the public.  

More About: Plensy™ is a patent-pending points-based lending platform on the blockchain. We seek to disrupt the antiquated automotive lending system by offering asset-backed tokenized loans.

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PRESS New Mexico Founder & Cultural Change Leader Barbara Jordan Joins Emerge New Mexico Class of 2021

Rancho Rio, N.M. May 29, 2021 – Barbara Jordan has been named to Emerge New Mexico’s class of 2021 women, who are eager to run for future office and change the world. Jordan is the founder of People Requiring Equality within System Systems (PRESS), a community based organization focused on empowering people of color and creating true racial equality.

 

As part of Emerge New Mexico, Ms. Jordan joins women leaders from diverse backgrounds across New Mexico and the United States seeking public office and intent on changing the face of power in America.

 

“I’m honored to be among the 2021 class of Emerge New Mexico women leaders working together to lift one another and create a just and equal society,” said Ms. Jordan. “I’ve been rolling up my sleeves and getting to work at PRESS and now I want to take my energy and passion to the next level. Emerge New Mexico will help me do this.”

 After 20 years in the United States Air Force, where she saw combat duty, Ms. Jordan drew on her natural humanitarian skills and fire for social justice and created PRESS. Her focus is on racial equality and her inspiration for grass root organizing and activities is her favorite expression: “we will press on.”

 

Ms. Jordan is an energized speaker and community organizer and has been featured in numerous news outlets and televised programs, including: 2020 America Documentary, No More Normal; Albuquerque Journal; Rio Rancho Observer; KUMN; Daily LOBO; New Mexico PBS; Santa Fe New Mexican; and Spot on New Mexico. She may be seen on KRQE 13 Albuquerque, KOAT, News Break, and the Santa Fe Reporter.

About PRESS

PRESS New Mexico is committed to undoing systemic racism by creating cultural change leaders who are put in positions to create intentional and transformational change. We seek to help others recognize that we are all gatekeepers and must be a catalyst for effective change while holding ourselves accountable with a safe space to communicate and struggle together. We will stand on the front lines to dismantle racism and support our community in any way we can. pressnewmexico.com

About Emerge New Mexico

Emerge New Mexico is a state affiliate of Emerge, which has trained more than 4,000 women to run for office since 2002. Emerge alumnae across the country have won more than 1,000 elections to date and hold office at every level of government.

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There are currently Emerge affiliates in 26 states — Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Georgia, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Pennsylvania, South Carolina, Tennessee, Vermont, Virginia, Washington and Wisconsin with plans to expand to more soon. Women who graduate from Emerge New Mexico’s training program are plugged into both the state network of Emerge New Mexico alumnae, as well as the national network of Emerge alumnae across the country. emergenewmexico.com

 

 

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Alpha Dawgs puts safety over profit

Businesses in North Carolina have been updating their face mask rules following Gov. Roy Cooper’s announcement that lifted most mandates for face coverings. It means that in most settings — indoors or outdoors — the state no longer requires North Carolinians to be socially distanced or wear a face mask.

However, Cooper said some restaurants, other businesses, and venues may continue to have restrictions or mask requirements but are no longer mandated to do so.

At Alpha Dawgs, we are still concerned for our employees’ and customers’ safety and are still requiring masks. We believe in putting safety before profits and realize that some may not agree with our stance and respect their right to do so. As a local restaurant that has felt the devastating economic impact of the Covid-19 pandemic on our business, we don’t believe political attacks concerning this issue accomplish anything positive for the community.

“No shirt, no shoes, no mask, no service. Most have never had any problem with business enforcing the first two parts to that saying and don’t believe the third is any more inconvenient to ensure others are comfortable and safe” says Hisine McNeill, owner of Alpha Dawgs

About Alpha Dawgs

Located at 6209 Rock Quarry Rd, Raleigh, NC 27610, Alpha Dawgs is a restaurant specializing in unique and flavorful hot dogs and other amazing dishes. They put their own delicious and spicy variation on the traditional hot dog. They top their New Jersey dawgs with tri-color peppers, onions, and fried potatoes, and rather than using a traditional bun; their dawgs are served in a fresh pita bun. They also offer vegetarian and vegan dawgs making it possible for everyone to enjoy an Alpha Dawgs meal. In addition to their specialty hot dogs, they also offer burgers, chicken, Philly cheesesteaks, and more.

Press Contact

ShaDonna “Mo” McPhaul

Themoyouknow@mosheroes.org

1-877-Mo-Knows (665-6697)