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Economy

Millennial money: Don’t freak out about your emergency fund

SOUTH FLORIDA TIMES — Let’s be real: For millennials, having an emergency fund is way down on the financial worry list, behind student loan debt, medical bills or saving for a down payment. […read more]

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Photo: iStockphoto / NNPA
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COMMENTARY: Jobs Report Shows What ‘African Americans Have to Lose’ Under Trump

NNPA NEWSWIRE — William Spriggs, a chief economist at the AFL-CIO and professor in the department of Economics at Howard University said since reaching a low of 6 percent in November, the Black unemployment rate has climbed three straight months. “Given the relationship of the Black community to predatory sub-prime auto loans this is not good.” […read more]

“I believe that we are in a situation with our city where we can’t wait for change,” said Shelby County Commissioner Tami Sawyer, now an announced candidate for mayor. (TSD File Photo: Lee Eric Smith)
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With confidence and ‘courage,’ Tami Sawyer declares candidacy for Memphis mayor

NNPA NEWSWIRE — “I am running now because when I see our city and I see our people and I look at the conversations that we are having at high levels of leadership, it doesn’t incorporate what is next for the impoverished, people of color, women, every person that is not considered in our vision for Memphis,” said Shelby County Commissioner Tami Sawyer, director of diversity and cultural competence for Teach for America in Memphis. […read more]

The letter was signed by House Committee on Financial Services Chairwoman Maxine Waters, Judiciary Committee Chairman Jerrold Nadler, Committee on Oversight and Reform Chairman Elijah E. Cummings, Permanent Select Committee on Intelligence Chairman Adam B. Schiff, Committee on Ways and Means Chairman Richard E. Neal and Committee on Foreign Affairs Chairman Eliot L. Engel.
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Congresswoman Maxine Waters Pens Open Letter to CFPB Employees

NNPA NEWSWIRE — “Let me assure you that actions to weaken the Consumer Bureau from within as Director Mulvaney attempted to do will not go unchecked or unnoticed. As Chairwoman of the House Financial Services Committee, I will fight against any and all efforts to weaken the Consumer Bureau and make sure that your important work to protect consumers, as Congress intended, can continue.” […read more]

The letter was signed by House Committee on Financial Services Chairwoman Maxine Waters, Judiciary Committee Chairman Jerrold Nadler, Committee on Oversight and Reform Chairman Elijah E. Cummings, Permanent Select Committee on Intelligence Chairman Adam B. Schiff, Committee on Ways and Means Chairman Richard E. Neal and Committee on Foreign Affairs Chairman Eliot L. Engel.
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Congresswoman Maxine Waters Holding Credit Bureaus Accountable and Repairing a Broken System

NNPA NEWSWIRE — “…To make matters worse, all three of the major consumer credit reporting bureaus have used this breach of consumer data and consumer trust to sell products they are marketing as identity theft protection. It certainly appears they are capitalizing on consumers’ fear and desperation, despite the fact that there are many free tools that consumers can use to protect their credit.” […read more]

Mr. Alford is the Co-Founder, President and CEO of the National Black Chamber of Commerce. Ms. Debow is the Co-Founder, Executive Vice President of the organization.
Business

Providing Match Makers Throughout the Black Diaspora – Way Cool!

NNPA NEWSWIRE — One of the biggest thrills is the fact that we Afro Americans in the United States have so much in common with the Afro Americans of South and Central America. Our roots are Western Africa. Our passages to the new world are similar via the utmost horrific human bondage, rape, and atrocities history has recorded. Some of our DNA may be directly related for all that we know. But the separation by centuries cannot keep us apart here in the 21st century. […read more]

A new and independent research report entitled, Driving Into Debt, found that the money now owed on cars is up 75 percent since the end of 2009, an all-time record. (Photo: iStockphoto / NNPA)
Business

Auto loan delinquencies climbed to $9 billion in 2018

NNPA NEWSWIRE — … in April of last year, Congress used the Congressional Review Act to nullify the Consumer Financial Protection Bureau’s (CFPB) auto finance guidance that held auto lenders responsible for discriminatory lending practices prohibited under the Equal Credit Protection Act. This distorted use of the Congressional Review Act, sometimes known as another CRA, was never intended to overturn long-standing agency practices. […read more]

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, and Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, wrote to Consumer Financial Protection Bureau Director Kathy Kraninger (Photo: Wikimedia Commons)
Business

Representatives Waters and Green Request Documents from Consumer Bureau on Recent Settlements

NNPA NEWSWIRE — “The Consumer Financial Protection Bureau (“Consumer Bureau”) has recently announced several settlements against entities for engaging in unlawful practices without requiring the payment of redress to consumers harmed by the illegal conduct,” the lawmakers wrote. “This stands in stark contrast to the Consumer Bureau’s practice under the leadership of former Director Cordray. During Director Cordray’s tenure, the Consumer Bureau recovered nearly $12 billion in relief for harmed consumers over its first six years.[1] American consumers deserve a Consumer Bureau that will fight to recover their hard-earned money when they are cheated.” […read more]

Steve Hightower is the CEO and president of Hightowers Petroleum, a privately-owned, Ohio-based company.
AutoNetwork on BlackPressUSA

AUTONETWORK: Black Millionaire Steve Hightower Talks About His Drive to Create A Billion-Dollar Petroleum Business On SiriusXM’s ‘Auto Trends’

Hightowers Petroleum is one of the top 15 black-owned businesses in the nation, according to Black Enterprise and provides fuel to a number of Fortune 500 companies. Hightower’s business portfolio includes investments with a number of American and foreign automakers, where his company holds the exclusive gasoline account to fuel vehicles upon final build, at various assembly plants throughout the world. […read more]

Caption: Texas State Senator Borris Miles
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COMMENTARY: Elected Enemies – The Government Shutdown That’s Crippling America

NNPA NEWSWIRE — This has been the third shutdown of the federal government since President Donald J. Trump took the oath of office. However, as a result of the current catastrophic and life-altering shutdown, millions of the people who rely on the government for their livelihood — directly and indirectly — have been severely impacted. […read more]

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, delivered the attached remarks during her first policy speech in the 116th Congress.
Business

Waters Outlines Agenda in First Policy Speech as Committee Chairwoman

NNPA NEWSWIRE — “…Millions of families that rely on HUD rental assistance programs are perilously close to losing their homes due to projected lapses in funding. What’s more, it was recently reported that HUD, under Secretary Carson’s leadership, has failed to follow its own contingency plan, and as a result 1,150 project-based rental assistance contracts have expired, with hundreds more hanging in the balance if this shutdown does not end.” […read more]

The fiery and bold Black lawmaker who earned a reputation for challenging Wall Street and major lenders during the housing crisis will now set the direction for a range of financial players, regulators, and institutions.
Black History

COMMENTARY: California Congresswoman Maxine Waters Makes History

NNPA NEWSWIRE — Congresswoman Maxine Waters is now the first Black and the first woman to chair the powerful House Financial Services Committee. Having served on this committee since 1995, and its Ranking Member in the previous Congress, Waters will set the committee’s agenda in key areas affecting the economy, banking, housing, insurance and securities. […read more]

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FISHER: 2019 is the Year of Legitimate Discontent – let’s get to work!

THE NEW TRI-STATE DEFENDER — The fruit of structural racism is the standardizing of white mediocrity and the suppression of black creative excellence. And we deserve full, equitable, inclusion into the society we have helped to shape, build and sustain. Until that goal is achieved, we must obtain and maintain a maladjustment to the injustice that continues to be normalized. […read more]

Rep. Gwen Moore (D-WI) (Photo: YouTube)
Commentary

First Member of Congress Calls for Trump’s Resignation Amid Month of Chaos

NNPA NEWSWIRE — During an interview on the Scott Dworkin report, Rep. Gwen Moore said that President Trump “resigning is a dignified way for him to leave as opposed to being impeached or as opposed to being indicted or having the 25th amendment evoked. It’s really a very palliative approach to ask him to just go quietly and spare us all this pain.” […read more]

Congress of Racial Equality and members of the All Souls Church, Unitarian located in Washington, D.C. march in memory of the 16th Street Baptist Church bombing victims. The banner, which says “No more Birminghams”, shows a picture of the aftermath of the bombing. (Photo: US News & World Report Collection, US Library of Congress / Wikimedia Commons)
Black History

COMMENTARY: White churches have a moral responsibility to stand up

NNPA NEWSWIRE — The nation is facing many morally relevant social, economic and political crises — voter suppression, income and wealth inequality, criminal justice reform and climate change — that now pose an existential threat to the next generation. Why does the white church remain so silent in the face of these mounting crises and denial of justice and opportunity? […read more]