READY?: Is everyone ready for the Aug. 21 eclipse?
That’s only one week away, folks, and if you want to view it, you’ll need to find some eclipse-viewing glasses from a reputable vendor ASAP or make a pinhole viewer of sorts.
A wealth of information on both of these and more can be found at eclipse2017.nasa.gov. If nothing else, we suggest people read more about safe viewing and picture-taking.
As Bradford educator Bernie Picklo recently told a group during a talk on the eclipse, the sun will start to disappear about 1:50 p.m. Aug. 21 here in Bradford, and the maximum eclipse that we will see will happen around 2:35 p.m. We won’t see a full-on eclipse here, but the sun will be mostly eclipsed — still an odd occurrence for a Monday afternoon.
QUESTIONS: In the interest of helping consumers avoid becoming the victim of a scam, the Department of Banking and Securities has offered several questions to ask yourself before entering into any business proposal involving your pension:
1. Is this company licensed to do business in Pennsylvania? In most cases, any company offering to advance money that must be repaid in Pennsylvania needs a license from the Department of Banking and Securities, making it subject to examination and offering protections to consumers.
2. What does the repayment amount equal in terms of an interest rate on the amount advanced? The repayment amount on these “advances” is mostly interest on a loan. In Pennsylvania, there are legal maximum interest rates established by the Consumer Discount Company Act and Loan Interest Protection Law.
3. Are fees and commissions being charged? The cap on interest rates in Pennsylvania is inclusive of all fees charged to the consumer.
4. Are you allowed to assign your pension benefits to a company? Check with the administrator of your pension plan to determine what restrictions might apply.
5. Does the company require the purchase of a life insurance policy naming it beneficiary? Some companies might have this requirement to ensure their future payments — because this transaction has nothing to do with your pension.
According to the department, these scams are often in the form of advances on your retirement pension.
For more information, contact the department’s Consumer Services Office at 1-800-PA-BANKS or file a complaint at www.dobs.pa.gov/Consumers/Pages/File-a-Complaint.aspx.
