Oct 30
Low-income consumers are dropping their bank accounts in droves and bank fees are to blame, a recent study from the Pew Health Group found.
Even worse, the rate of households going bank-less has surpassed the number opening new accounts.
The organization tracked 2,000 low-income California families — half with bank accounts, half without —over the course of a year to figure out why some decided to ditch their banks in favor of alternative means of storing their cash.
More than one-third of the participants in the two-part study blamed bank fees, while another 27 percent said they left their banks due to job loss and low cash flow.
Minimum balance requirements deterred more than half of respondents, who said they couldnt meet the requirement to open an account in the first place.
Getting consumers to open bank accounts is only half the battle, the organization reported. Low
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Tags: Droves
Oct 23
VIOLENT PROTESTS: Policemen are set ablaze by a petrol bomb thrown by protesters in Athens.
The Greek parliament approved a painful set of austerity measures on Thursday (Friday NZT), defying violent protests in central Athens and a general strike that shut down much of the country.
The struggling government of Socialist Prime Minister George Papandreou won the parliamentary vote with 154 votes in favour and 144 against, despite the decision by one deputy in the ruling party to oppose one article in the package.
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Tags: Approved
Sep 23
Just three days after being awarded a $1.9 million contract by a government agency for information technology services, Hauppauge-based Globecomm has been awarded various infrastructure contracts from other government agencies valued at $3.6 million.
Under the terms of the contracts, Globecomm will provide hardware, software and associated engineering services.
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Tags: Contracts
Sep 21
Convicted: Stuart Ariff. Photo: Simone Depeak
THE insolvency profession has attracted much unwanted attention recently, culminating in a Senate inquiry last year, followed by a federal government review announced in June.
It was sparked by boiling anger about the impotence of individuals and small businesses ripped off by the unscrupulous.
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Aug 26
NEW YORK (AP) — Many stores in New York were closed on Saturday as Hurricane Irene neared, with some posting comical signs like Blame the weatherman. Not us and Evidently The Show Must Go On! means nothing to Irene. But New Yorks shopping districts still were bustling as people piled into any store that was open.
Merci Market in Chelsea had long lines as people bought deli sandwiches and fancier fare. People filed into The Container Store in Midtown to grab plastic boxes so they can use their indoor time constructively to organize. A
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Tags: New, New Yorkers
