- State leaders reach deal on remaining budget bills, By Wyatt Buchanan and Marisa Lagos, June 22, 2012, San Francisco Chronicle: “Another focus of negotiations was on the Cal Grants program, which provides college aid. Public university students will be spared any change, but new students at private and for-profit colleges will see that aid slashed by thousands of dollars starting in the 2013-14 academic year. The state also will impose strict graduation-rate requirements in order for schools to be part of the program. Some advocates for children immediately criticized the decision to eliminate Healthy Families. They are concerned about care being disrupted for those children if they are forced to find a new provider. They are also worried that health care access will decline for Healthy Family recipients and the 3.6 million children already in Medi-Cal, said Michele Stillwell-Parvensky, a spokeswoman for the Children’s Defense Fund. But others welcomed the change, including the Western Center on Law and Poverty. . .”
- W.Va. to cut child care, social program funding, By Lawrence Messina, June 22, 2012, Businessweek: “West Virginia plans to scale back child-care aid — freezing enrollment and then ending it for some families while increasing costs for the rest — and also will cut $9.5 million in annual funding for other social services, including a summer nutrition program for schoolchildren, state officials announced Thursday. The changes would drop an estimated 1,425 children from a program that helps their parents afford day care and other settings outside the home. The program served more than 24,000 children during the past budget year, at a cost of $54 million, according to figures provided by the West Virginia Department of Health and Human Resources. Payment rates to day care centers and other providers won’t change. The estimate reflects income levels of current enrollees. DHHR revisits income qualifications every six months. The reasons behind the cuts vary. The state has exhausted a federal funding surplus. . .”
Author: irpstaff
African-American Unemployment – New York City
Blacks Miss Out as Jobs Rebound in New York City, By Patrick McGeehan, June 20, 2012, New York Times: “For months now, New York officials have been highlighting how the city has regained all the jobs lost during the long recession and then some. But by several measures, the city’s recovery has left black New Yorkers behind. More than half of all of African-Americans and other non-Hispanic blacks in the city who were old enough to work had no job at all this year, according to an analysis of employment data compiled by the federal Labor Department. And when black New Yorkers lose their jobs, they spend a full year, on average, trying to find new jobs — far longer than New Yorkers of other races. . .”
Payday Lending
Regions, Courting the Underbanked, Defends Payday Loans, By Maria Aspan, June 18, 2012, American Banker: “For banks trying to serve more low-income customers, Regions Financial (RF) could become both a shining example and a cautionary tale. The Birmingham, Ala., bank has spent the past year trying to attract the poor, the young, immigrants and other types of customers whom most banks have long ignored. It has rolled out check-cashing services, prepaid cards and payday loans, and it is expanding those services; last week, a senior executive announced plans to offer prepaid cardholders savings accounts with matching fund contributions and check-imaging technology for faster deposits. As Regions actively courts the long-ignored underbanked population, it has faced both praise and criticism. Wells Fargo (WFC) and a handful of other banks also offer such products, and Regions’ new “Now Banking” services are pretty familiar to anyone who has ever walked into a Western Union (WU) or a payday lender office. . .”