Escalating overdraft charges. Minimum balances. High ATM, check-cashing and debit card fees.
Banking can be expensive, especially for low-wage workers.
A score of California lawmakers have signed on to a new bill designed to offer Golden State households free financial services, taking on the state’s powerful banks at a time when easier access to banking services could help families cope with the economic fallout of the COVID-19 pandemic.
Los Angeles Assemblymember Miguel Santiago has introduced legislation that would form a state panel to create a no-fee, no-penalty bank account supported by the state and managed by existing financial companies.
Unlike a previous attempt by Santiago to create public banks, this time around, the legislation, Assembly Bill 1177, would form a Public Banking Option Board, which would partner with existing financial institutions to offer the free accounts statewide through a "BankCal" program.
Four Los Angeles-area state legislators announced Thursday that they have introduced a bill to provide $540.4 million to fund a clean-up of 10,000 homes polluted by the nearby Exide Technologies battery facility in Vernon.
“What Exide left us with is nothing less than corporate criminal pollution,” said Assemblyman Miguel Santiago, D-Los Angeles. “Exide's abandonment and (the Department of Toxic Substances Control) clean-up delays have left our children to live and play in lead-soaked soil. AB 1024 will finally fund a complete clean-up of Exide's pollution while implementing transparency and accountability protocols for DTSC to prevent any further delay.”
California Forward (CA FWD), the California Economic Summit network and its partners have long advocated for the need to ensure affordable and high-speed broadband to all Californians.
“Not only is bridging the digital divide an issue of equity, it’s an imperative if we are to provide more Californians with access to job opportunities, tele-medicine, education and much more,” said Micah Weinberg, CEO of CA FWD.
SACRAMENTO, Calif. — Earlier in the pandemic, California rolled out a COVID-19 relief program for undocumented immigrants in the state. The Disaster Relief Assistance for Immigrants (DRAI) program was created to help the immigrant community in the state as the world dealt with the pandemic.