Finance

Black Families Are Facing More Threats to Homeownership

The high cost of housing, predatory financing programs, and the temporary nature of a critical government assistance program are all factors making it harder for Black Californians to buy homes — or keep the ones they already own. Policy leaders, building industry organizations and other concerned advocates are expressing concern that, if left unchecked, this crisis could worsen. “We have a massive housing shortage, and we should do everything we can to increase the production of housing throughout the entire state, not just infill areas,” said Cornelius Burke, Vice President of Legislative Affairs at the California Building Industry Association (CBIA).

How to Exercise Good Financial Health

With spring in full bloom – now is a perfect time to start a fresh a foundation for a healthy financial future. Good financial health is the foundation on which strong and resilient households, communities and economies are built, but the reality is, many struggle to manage their financial daily lives.

New Study Reveals Woeful Lack of Diversity Across News Beats 

A new Pew study looks at diversity across news beats in the US. The data comes from a 2022 survey of 12,000 journalists and finds that, like the newsrooms they work in, an overwhelming majority of the reporters covering major beats in the country are white and male. 

IS YOUR MONEY SAFE IN THE BANK? 

On Friday, March 10, federal banking regulators shut down Silicon Valley Bank, or SVB, making it the second largest bank failure in U.S. history.  Many individuals and businesses found themselves wondering what all this meant and should they go down to their local bank and immediately withdraw all of their money.   

Inequality Last Year Grew, But Child Poverty Dropped

Income inequality in the U.S. increased last year for the first time in more than a decade, but childhood poverty was cut almost in half due to expansion of the federal government’s child tax credit and stimulus payments made in response to the COVID-19 pandemic, according to new survey results released Tuesday, Sept. 13, by the U.S. Census Bureau.

Newsom Appoints Joe Stephenshaw as Director of Finance

Gov. Gavin Newsom has appointed Joe Stephenshaw as Director of the California Department of Finance (DOF), filling the position held by Keely Martin Bosler since 2018.

Communities do not trust institutions. This is how we’re regaining it.

Americans have lost trust in the ability of large institutions like the federal government, national media, and large companies – even big banks – to understand or care about their needs.  This view is justified, particularly among communities of color and low-income households.  Simply put, our country has done a bad job of looking out for and creating opportunity for everyone.  We need to better understand the unique needs of communities across the United States and show up, listen, and make the right investments and decisions to regain trust.  Impact is most effective and sustainable when it’s local. Here in

Your 2021 Taxes: 7 Things the IRS Wants You to Know

During the virtual meeting, IRS Commissioner Charles Rettig and Ken Corbin, Wage and Investment Division Commissioner and Chief Taxpayer Experience Officer at the IRS, stressed the importance of filing via the internet and making sure all information submitted is accurate. That way, they said, taxpayers can avoid delays and seamlessly receive their returns into their bank accounts by direct deposit.

Lecrae, Rapper With San Diego Ties, Shares Wealth Building Ideas

Grammy Award-winning Christian Hip-Hop hop artist Lecrae is on a mission to increase financial literacy among African Americans. Growing up in a “marginalized” community in San Diego, Lecrae says he was exposed to incredible wealth and opportunity when he visited communities along the Pacific coastline or neighborhoods nestled in the hills overlooking the city. But life was different in his predominantly Black neighborhood. Less possibility. Much more poverty. “You begin to wonder ‘how do I acquire that?’ How do you change the narrative?” Lecrae told California Black Media. “Returning to a community that faced marginalization, brutality and the effects of