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☆ A watchdog found colleges are weaseling students into forking over more money to use certain banks for financial aid. Some are fasting, giving up textbooks, and lighting candles to save on bills.
▼ + stars: | 2022-10-14 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Colleges will often enter agreements with banks to give financial aid to students. Those unnecessary expenses can come from overdraft fees, inactivity fees, and out-of-network ATM fees. Students on financial aid, in particular, might be shouldering more unnecessary fees, CFPB finds. In one instance, a third-party provider charged students fees if they deposited less than $300 a month — but deposits for financial aid didn't count. But this results in unnecessary fees for students who participate, including monthly fees, overdraft fees, inactivity fees, and out-of-network ATM fees of up to $3.50.

☆ Young Black activists are done waiting their turn for political office. They're taking on the 'John Lewis generation' of elder lawmakers who they say are out of touch.
▼ + stars: | 2022-09-29 | by ( Elvina Nawaguna | ) www.businessinsider.com time to read: +30 min

Most members of the Congressional Black Caucus are twice as old as the median Black person living in the US. The Congressional Black Caucus, a powerful voice for Black Americans, is significantly older than those it speaks for. Clay had replaced his father, William Lacy Clay Sr., a civil-rights icon and founding Congressional Black Caucus member who had represented the area since 1969. Tom Williams/CQ-Roll Call, Inc via Getty ImagesThe Congressional Black Caucus is reckoning with a leftward shift it's struggled to embrace. A spokesperson for the Congressional Black Caucus did not respond to Insider's request for comment.

☆ Execs at Bank of America, Dow, and JUST Capital say being prosperous isn't just about having enough money
▼ + stars: | 2022-05-11 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

The event, in partnership with Bank of America, took place Tuesday, May 10. Martin Whittaker, chief executive officer of the nonprofit JUST Capital, said there is now a greater focus on worker well-being than ever. For Karen Fang, the managing director and global head of sustainable finance at Bank of America, prosperity includes access to basics like financial services and digital inclusion. "The definition of prosperity has gone from economic prosperity to social prosperity," Fang said. She said the bank has hired 10,000 workers from these areas, a goal it achieved two years early.

☆ The American middle class used to signify economic security. That's now quickly becoming a luxury only the wealthiest can afford.
▼ + stars: | 2021-12-25 | by ( Paul Constant | ) www.businessinsider.com time to read: +5 min

While a majority of Americans consider themselves middle class, he says far fewer actually are. Those numbers are disastrous for the American middle class. When most noneconomists talk about the middle class, we don't mean the strict middle third of American household wealth. A 2015 Pew report found that while 89% of all Americans self-identify as members of the middle class, just 50% of Americans actually met the broadest economic definition of middle class. Throughout the 20th century, a secure and growing middle class was the source of America's prosperity.

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