Warren Buffett warned investors that bankers were still up to their old tricks in his recent investor letter. Vanguard founder Jack Bogle is writing about how high fee mutual funds are ripping off investors and endangering retirement security. And Fed Chair Janet Yellen is touting new, tougher capital rules for “Too Big to Fail” banks.
Maybe no economic statistic captures the continuing impact of the nation’s history of inequality better than the racial wealth gap. It has left a yawning gulf that separates whites from blacks and Hispanics. And it persists across income and educational levels in ways that have left whites who are high school dropouts with a higher median new worth greater than blacks and Hispanics who are college graduates.
Latonya Suggs is one of 15 former students of Corinthian-owned schools called "the Corinthian 15" who are engaging in what they say is the nation's first student debt strike. They're refusing to pay back both their private and their federal student loans.
Strike Debt is helping provide legal support for the students for the consequences of the strike, which will be harsh if the group isn't relieved of its debts.
Last Year, Germany announced it was making its university system free. Given mounting college costs in America, ATTN: wanted to interview a higher education expert to learn whether any best practices could be applied domestically. We spoke with Mark Huelsman from the New York-based think tank Demos for answers. [...]
“Put some mustard on it.” That’s the advice that Chicago McDonald’s worker Brittney Berry allegedly received from her manager after suffering a scalding burn on her arm from the grill used to make eggs. And this was no minor burn – she was eventually taken to the hospital in an ambulance, and had to miss work for six months.
Last week, New York City Comptroller Scott Stringer unveiled a new plan to regulate financial advisers, the first of its kind, that tries to protect the average investor from advisers who don’t have to put their clients’ best interests first.
A recent report titled “The Racial Wealth Gap” examined, in conjunction with other factors, the role education plays in the persistent wealth gap between minorities and their White counterparts in this country.
Life happens. We have children to support. We lose jobs. Marriages fall apart. By the time we near our ‘Golden Years’ the nest-egg we may have envisioned may be a lot smaller than we thought and in many cases, not there at all due to heavy debt loads.
In an op-ed in the New York Times over the weekend, University of Colorado law professor Paul F. Campos offered a provocative answer to the frequently asked question: why is college so expensive these days?
Late Tuesday, news broke that yet another unarmed American, a black man named Walter Scott, was killed by a white police officer. As with Tamir Rice, Eric Garner, and Rodney King nearly 25 years ago, the brutality was captured on video for the world to see. The New York Times put the damning evidence at the very top of its homepage and it quickly spread throughout social media networks provoking outrage, disgust, horror, grief. These reactions have come most vocally from black Americans.
Middle class income stagnation, and the inequality that it causes, is the principal economic challenge for the nation — and finance is to blame for it.
"You are in a Catch-22," said Emmanuel Caicedo, a senior campaign strategist with Demos, one member of a coalition of 79 labor and civil rights organizations that formed the NYC Coalition to Stop Credit Checks in Employment.
"You can't pay your bills and so your credit is bad. And then you can't get a job to pay your bills because of your credit."
Several top congressional Democrats will embrace on Tuesday a loose plan to make public colleges a debt-free proposition—and will receive an immediate boost from progressive activists who are hoping to shape the 2016 Democratic agenda.
The rationale behind the ban is simple: it’s unfair and useless to use a person’s credit history, which is often inaccurate or misleading, when assessing their job qualifications.