Origin SC Workshop
Charleston Chronicle

Upcoming Origin SC’s Workshops in April 2019

CHARLESTON CHRONICLE — Origin SC offers workshops around the Tri-county area of Charleston, SC. […read more]

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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.
#NNPA BlackPress

Congressman Maxine Waters Calls on Consumer Bureau Director to Explain Anti-Consumer Actions

NNPA NEWSWIRE — “Mulvaney closed the Office of Young Consumers, stripped the Office of Fair Lending of its ability to enforce fair lending laws, cozied up to payday lenders, gave lenders a free pass to abuse active-duty servicemembers and their families, and fired the Consumer Bureau’s consumer advisory board. His mission was to dismantle the agency from within and he leaves behind no less than 12 political appointees who are continuing to cause damage.” […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.
#NNPA BlackPress

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]

Bill Fletcher, Jr. is the former president of TransAfrica Forum. Follow him on Twitter, Facebook and www.billfletcherjr.com. He is the author of the new mystery The Man Who Fell From the Sky.
#NNPA BlackPress

COMMENTARY: The Tax Surprise

NNPA NEWSWIRE — “…when it comes to taxes, much of the public hears what it wants to hear. If someone says that there will be a cut and they can provide minimal evidence to that effect, such an argument can be a winner. Even when one demonstrates that it is a lie, the possibility of tax relief serves as a seductive song that softens the brain.” […read more]

A relatively small component of the federal Tax Cuts and Jobs Act, passed in December of 2017, was the creation of Opportunity Zones in every state in the U.S., as well as in the District of Columbia and five U.S. territories. (Photo: iStockphoto / NNPA)
Business

The “Tax Cuts and Jobs Act” Creates Opportunity Zones to Spur Economic Development

NNPA NEWSWIRE — Opportunity Zones have the potential to address many of the country’s most vexing economic problems, notes Tami Bonnell, CEO of EXIT Realty International. “One in six Americans lives in an economically distressed community,” said Bonnell. “There is something wrong with the way we’re operating when we have that much poverty in the United States.” […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]

Kathy Kraninger, the Director of the Consumer Financial Protection Bureau (CFPB) announced the agency’s plan to repeal a rule aimed at stopping the payday lending debt trap. (Photo: iStockphoto / NNPA)
Business

CFPB Makes Move to Support Payday Lenders During Black History Month

NNPA NEWSWIRE — When given the chance at the ballot box, Americans overwhelmingly vote to impose a 36 percent or less rate cap. Today, 16 states and the District of Columbia have these rate caps in place, providing strong protection from payday loan sharks. In remaining states – those without a rate cap – interest rates run as high as 460 percent in California, over 400 percent in Illinois and 662 percent in Texas. […read more]

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congressman Emanuel Cleaver (D-MO), Chair of the Subcommittee on National Security, International Development, and Monetary Policy
Commentary

Waters and Cleaver Express Concerns About Nomination of David Malpass to Lead World Bank

NNPA NEWSWIRE — “It’s difficult to believe that any serious effort to find a qualified candidate with a compelling vision for the mission of the World Bank and a belief in the legitimacy of international development finance would lead to the nomination of Treasury Undersecretary for International Affairs David Malpass,” said Chairwoman Waters. […read more]

For those of you that already have an estate plan, the question is whether it is suited to the facts of your current personal and financial circumstances.
#NNPA BlackPress

“Resolve to Make or Update Your Estate Plan

PASADENA JOURNAL — Estate planning is not difficult. It is simply creating documents to let people know what you want to happen to you and your possessions when you can no longer express those wishes. For some people a handwritten will, beneficiary designations on accounts and filling in forms available at a legal stationery store may be sufficient. […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]

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]

“I am committed to holding the Trump Administration accountable and ensuring that the Consumer Bureau can resume its important work protecting American consumers.” — Congresswoman Maxine Waters (D-CA43)
Commentary

Congresswoman Maxine Waters Statement on Proposal to Weaken Enforcement at the Consumer Bureau

NNPA NEWSWIRE — “Trump and his appointees have done everything in their power to undermine the Consumer Bureau. Mick Mulvaney, who Trump installed to serve as Acting Director of the agency, dropped lawsuits and investigations into abusive payday lenders, took away the Office of Fair Lending and Equal Opportunity’s enforcement powers, fired the members of the agency’s Consumer Advisory Board, scaled back enforcement actions against bad actors, sought to slash the agency’s budget, and apparently made it his mission to help out bad actors….” […read more]

“…the fact that these beverage taxes are masquerading as public health initiatives means that they can often come at the expense of effective community health programs that have a positive impact on the lives of working-class people.” (Photo: iStockPhoto / NNPA)
Commentary

OP-ED: Beverage Taxes Are Not the Health Solution that Working Families Need

NNPA NEWSWIRE — Despite being portrayed as public health solutions, [beverage taxes] end up harming the exact residents that they are supposed to help – primarily working-class African-Americans and Latinos. There are no health benefits to making someone a dollar poorer, and the fact that beverage taxes overwhelmingly affect minorities only makes them more dangerous and disingenuous. […read more]

Community

With “Add-ons,” Blacks Often Pay Higher Fees for Car Purchases than Whites

SPEAKING OUT WEEKLY NEWS — “…NCLC cites previous research by the Center for Responsible Lending (CRL) that determined car buyers who financed vehicles at the dealership in 2009 paid $25.8 billion in interest rate mark-ups. That same study also found that more than half of Black car purchasers (54 percent) were also charged loan kickbacks, compared to only 31 percent of Whites.” […read more]

Wells Fargo has been in Washington, D.C., since 1914, with its first location on G Street NW. Since then, local investments in the District have included support for education, the arts and neighborhood revitalization, among other community needs.
Business

PRESS ROOM: Wells Fargo Invests $1.6 Billion to Help Revitalize D.C.’s Minority Neighborhoods

NNPA NEWSWIRE — The bank’s new commitment includes a five-year, $16 million philanthropic commitment more than triples Wells Fargo’s local giving, with a specific focus on Ward 7 and Ward 8. This philanthropy includes $4 million for Community Development Financial Institutions to grow the small business community and $6 million for nonprofit housing initiatives like down payment assistance and development of affordable rental properties. […read more]

Financial Management

Prepare to Prosper Part 4: Get Smarter About Credit

Today, most people carry some amount of debt. This may include student loans, personal loans, or credit card bills. And sometimes it may be challenging to prioritize these debts over other everyday expenses. But making a plan to manage your payments and balances can help. These nine tips may help you prepare to take small steps to managing your debt and improving your credit. […read more]

Financial Management

Prepare to Prosper Digital Exclusive: Saving & Investing

Lately, it seems like everyone is talking about investing. But if you’re not sure whether it’s time for you to start investing, or if you should focus on saving, the answer depends on your goals, risk tolerance, and financial situation. In this article, we’ll help you determine whether you should focus on building your saving or starting to invest. So no matter where you are in your financial journey, we’d like to help you prepare to reach your specific goals. […read more]

#NNPA BlackPress

Government-sponsored race discrimination has suppressed Black homeownership and generational wealth

JACKSONVILLE FREE PRESS — An example of “de facto” segregation would be white concentration in a particular school district, simply because the surrounding neighborhood is predominately white. “It’s a myth that  unlike all the other segregations I’ve described, segregation in housing wasn’t created by government. And we tell ourselves that residential segregation will happen by accident; unlike the other kinds of segregations I’ve described.” […read more]

Christopher G. Cox, publisher and managing editor, www.realesavvy.com
Commentary

PRESS ROOM: Fannie Mae, Freddie Mac Offering Mortgages for as Little as 3 Percent Down

PASADENA JOURNAL — One of the biggest obstacles confronting low- and moderate-income home buyers is coming up with the 20 percent down payment that many financial advisors recommend they have in the bank prior to entering the housing market. Under Fannie Mae’s Home Ready and Freddie Mac’s Home Possible programs, it might be possible to obtain a mortgage with substantially less cash on hand. […read more]

Business

Black Wealth Still Plummeting

PRECINCT REPORTER NEWS — “For households of color, the Great Recession erased the economic progress made over the past three decades in their entirety,” said Astrada. “If current trends continue, it will take 228 years for the average Black family to reach the level of wealth White families own today. For the average Latinx family, matching the wealth of White families will take 84 years.” […read more]

Business

Real Estate Industry Insiders Work to Educate Potential Home Buyers during National Homeownership Month

Christopher Cox, the publisher and managing editor of realesavvy.com, says that June is a great month for African Americans to learn more about homeownership. June is recognized by United States Department of Agriculture (USDA), United States Department of Housing and Urban Development (HUD) and the National Association of Real Estate Brokers (NAREB) as National Homeownership Month. […read more]