“If Congress passed a law requiring everyone in the United States to get a license to be considered for a job, rent an apartment or buy a car, the nation would rise up in protest. The irony is that such a system already exists and its validity is rarely questioned: the license is, of course, your credit score.”
by: David Bornstein
“Let’s say your bank disappeared tomorrow, and with it all of your credit cards and accounts. How would you save money or get a loan? There’s the proverbial practice of stowing your money under your mattress. Or you could beg a parent or sibling for a loan so you could make your next rent payment.”
by: Danielle Kurtzleben
“Citibank today celebrated the opening of its latest flagship branch in the heart of San Francisco. The 6,400-square-foot branch, located at the corner of Post and Kearny Streets in the city’s financial district, features Citi ‘smart banking’ technology in addition to the full range of Citi products and services.”
by Citi
“National Hispanic Heritage Month is upon us, which is a great time to take the opportunity to discuss how we can help improve financial education for our countries new residents.”
by Tom Kerr
“Two days after Apple unveiled its attempt to advance mobile payments, CFPB Director Richard Cordray cited the burgeoning field as a key area of concern his agency needs to examine.”
by Rachel Witkowski
“The U.S. homeownership rate fell in the Great Recession and its aftermath — from a peak of 69.2 percent in 2004, to 64.7 percent in the most recent report from the U.S. Census Bureau. It turns out immigrant households bucked that trend, according to a recent report.”
by Mitchell Hartman
“California broadened the reach of nonprofits that target low-income borrowers who lack the credit standing needed to obtain a traditional loan, enacting a law that lets the organizations lend as much as $2,500 interest free without a license.”
by Teddy Nykiel
“As tens of thousands of DACA recipients prepare to submit renewals for their two-year deportation relief, they will need to once again come up with $465 for the application fee. While renewal requests require less documentation than the initial application, the fee remains the same.”
by Audrey Singer and
“Many Daca recipients are unprepared for the job hunt. Those living in Central Valley, California, whose parents are mostly farm workers, have run into yet another problem: lack of access to the internet. Off-the-books work experience also doesn’t help.
To get the money for the application, many migrants appeal to lending circles like the Mission Asset Fund. ”
by Jana Kasperkevic
“When Alicia Villanueva started selling her tamales, she went door to door to hawk the homemade bundles of savory masa and corn husks from her native Sinaloa. But at about 100 tamales a week, she could only make a little extra cash to help make ends meet, and didn’t have the funds to set up a real shop. She found a small angel investor by turning back toward her community—a group who pools their money into a shared fund.”
by Michelle Chen