Posted inBusiness, Business, Uncategorized

Zelle fraud is rising, and banks aren’t coming to the rescue

“Authorized” vs “Unauthorized:” Under a federal rule known as Regulation E, banks are technically only liable to cover fraudulent activity when it involves “unauthorized” transactions. Say, when someone steals your credit card and makes purchases without your permission. But if someone persuades you to send them $500 through a phishing scam, banks consider that “authorized” and won’t reimburse those funds.

Posted inEducation, Joliet, Local, News

Study finds community college system fails to produce equitable outcomes for Black students

According to a new report from the Joint Center for Political and Economic Studies on the state of Black students at community colleges, an alarming 70 percent of Black students experienced food or housing insecurity or homelessness during the COVID-19 pandemic. The report highlighted that while Black students remain disproportionately represented in community colleges, policy barriers prevent the system from producing equitable outcomes.

Posted inBusiness, News

Black unemployment rate improves amid historic jobs report

The president highlighted the 6.6 million jobs added to the U.S. economy in the year since he took office. “It comes alongside the largest drop in the unemployment rate in a single year on record, the largest reduction in childhood poverty ever recorded in a single year, and the strongest economic growth this country has seen in nearly 40 years,” President Biden asserted.

Posted inBusiness

Homeowners struggling to make housing-related payments due to the pandemic, help is on the way

If you are a homeowner and COVID-19 has made it difficult for you to pay your mortgage, utilities, property taxes, or other home expenses, financial assistance may already be available for you. The Homeowner Assistance Fund (HAF) was established by the American Rescue Plan Act to help homeowners financially impacted by COVID-19 with housing-related costs. This federal assistance program provides money to states, Tribes, territories, and the District of Columbia to assist homeowners with housing-related costs.
HAF can provide financial assistance for mortgage payments (including past due payments), and, depending on the program, may also be used for homeowners’ insurance, utility bills, property taxes, homeowners’ association fees, certain home repairs, and other specified housing costs. The amount of funds available per household will depend on your situation and where you live. Some locations have started accepting applications, and more are on the way. In total, approximately $10 billion will be disbursed to programs across the country.

Posted inCommentary, Opinion

Black America deserves its fair share of the American Dream: Affordable rentals shrinking, growing mortgage denials block homeownership

Despite unprecedented federal housing assistance during the pandemic, a report by Harvard’s Joint Center for Housing Studies (JCHS) finds stark racial and income divides in its analysis of the nation’s rental market. Nearly a quarter of Black renters were behind on rent in the third quarter of 2021, as well as 19% of Hispanic renters. By contrast, the share of white renters in arrears was half that: 9%.

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