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COMMENTARY: House Chair Waters leads charge to return consumer protection to CFPB

NNPA NEWSWIRE — Although Director Kraninger announced a plan to suspend the payday rule, changes in how the Bureau operated with regard to these lenders began under Mulvaney. While at CFPB, he urged Congress to repeal the rule and joined a lawsuit brought by a payday lender that sought to indefinitely suspend the rule.

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By Charlene Crowell, Deputy Director, The Center for Responsible Lending

On March 7, the House Financial Services Committee, chaired by Congresswoman Maxine Waters marked the first time that the new Director of the Consumer Financial Protection Bureau (CFPB) appeared for a hearing in this capacity. Entitled, Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau,” the session is the first of two mandated by the Dodd-Frank Wall Street Financial Reform and Consumer Protection Act. Twice a year, CFPB’s Director must report to each chamber of Congress.

But before the hearing, other actions signaled that Director Kathy Kraninger would likely be forced to defend both the Bureau’s actions and inactions that occurred at the hands of Trump political appointees. Under Mick Mulvaney, CFPB’s former Acting Director, a series of actions turned the agency’s focus away from consumers, regulation and enforcement to make its policies and structure more favorable to deregulation and business.

One day before the hearing, Congresswoman Waters and other majority members of the Financial Services Committee held a news conference to announce the reintroduction of the Consumers First Act. Initially filed in 2018 by Waters, the 2019 version has the same intent: to block and reverse the Trump Administration’s anti-consumer agenda. This year, Waters has the support of co-sponsoring lawmakers representing 19 states as diverse as California, Florida, Michigan, North Carolina and Virginia. Another boost – the bill is also supported by 51 consumer, civil rights, and labor advocates.

“The bill reverses the harmful structural changes Mulvaney and his deputies made to damage the agency one-by-one,” said Chairwoman Waters at the news conference. “We will be asking all of the questions that our members deem necessary to find out whether or not she is on the road to restoring much of the damage that was done by Mr. Mulvaney.”

Ohio’s Rep. Joyce Beatty, one of the bill’s co-sponsors, took direct aim at the Bureau’s changed perspective on payday lending adding, “Under Trump’s CFPB director Mulvaney, the CFPB has reduced transparency and accountability, weakened enforcement…and became more interested in helping payday lenders who allegedly misled consumers and charged exorbitantly high interest rates, rather than protecting the American consumers they were sworn to serve.”

Readers may recall that during Black History Month, Director Kraninger announced the Bureau’s intent to suspend the August 2019 effective date of the long-awaited payday rule. After more than five years of public forums, rulemaking, research and thousands of public comments, Director Kraninger still intends to begin the rulemaking process anew.

In response, consumer, clergy, and civil rights advocates received updated information from the Center for Responsible Lending that pinpoints state by state, how current triple-digit interest rates (APRs) continue to harm consumers across the country. Regardless of a state’s population size or average incomes, the cost of borrowing payday loans remains a debt trap. Further, in states where these loans remain legal, lenders continue to squeeze billions of dollars of fees from borrowers whose annual average earnings are $22,500.

Prepared by Charla Rios, a researcher with the Center for Responsible Lending, the updated payday map reveals that in 2019, 31 states charged 200 percent APRs or higher on payday loans. Of these, 18 states have APRs of 400 percent or more, three more – Idaho, Nevada, and Texas charge in excess of 600 percent.

The Lone Star State can rightfully claim one other distinction: its 661 percent APR is the nation’s highest. That claim becomes even more curious when that figure is compared to the actions of more than 40 cities that have adopted some kind of regulation on these predatory loans. In 2011, the City of Dallas led the municipal curbs with an ensuing unsuccessful legal challenge. Fortunately, the Texas Supreme Court upheld the city’s restriction.

Despite these disappointing numbers, there have been recent and notable consumer victories on payday lending. Colorado and South Dakota successfully approved by voter referenda 36 percent payday rate caps. In each of these referenda, voters supported rate caps by 75 percent majorities.

“When no rate caps exist, payday lenders become more predatory as they charge even higher triple-digit interest rates that financially bury people in debt,” said Rios. “The 2019 map shows just how much real reform is needed at the state and federal levels.”

Although Director Kraninger announced a plan to suspend the payday rule, changes in how the Bureau operated with regard to these lenders began under Mulvaney. While at CFPB, he urged Congress to repeal the rule and joined a lawsuit brought by a payday lender that sought to indefinitely suspend the rule. Earlier and as a member of Congress representing South Carolina, Mulvaney opposed the idea of creating the CFPB and counted payday lenders among his top donors.

The 2017 payday rule was promulgated after five years of hearings from a variety of stakeholders and everyday citizens. There was also extensive research, and a public comment period where literally thousands of statements documented this financial exploitation wrought by payday loans.

“Eliminating this protection is plain and simple a huge gift to predatory lenders so they can keep borrowers trapped in unaffordable debt with interest rates exceeding 300 percent,” concluded Diane Standaert, a CRL EVP and Director of State Policy.

Charlene Crowell is the Center for Responsible Lending’s Communications Deputy Director. She can be reached at Charlene.crowell@responsiblelending.org

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Parents Raise the Alarm About Violence in Schools, Say Their Votes Depends on Improvement

NNPA NEWSWIRE — “Parents have very legitimate concerns about violence in schools, increased bullying, and a lack of mental health resources,” Keri Rodrigues, co-founder, and President of the National Parents Union, said in a statement.

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NNPA NEWSWIRE — “Parents have very legitimate concerns about violence in schools, increased bullying, and a lack of mental health resources,” Keri Rodrigues, co-founder, and President of the National Parents Union, said in a statement.
About 52 percent said student mental health after coping with the pandemic is a significant issue, as well.

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

A new poll revealed that parents continue to express “legitimate concerns” about violence in schools, increased bullying, and a lack of mental health resources.

Alarmingly, the poll released by the National Parents Union found that 59 percent of parents are very or extremely concerned about how schools are teaching race and diversity.

“Many Black parents are worried that schools are being harsher on students of color compared to white students,” researchers noted in the poll.

The National Parents Union counts as a network of parent organizations and grassroots activists committed to improving the quality of life for children and families in the United States.

Conducted from November 19 to November 23, the survey included 1,233 parents who also count as registered voters.

Researchers found that 84 percent of parents are concerned about how schools address the threat of violence, and 59 percent identified increased bullying or violence in school as a significant issue.

About 52 percent said student mental health after coping with the pandemic is a significant issue, as well.

“Parents have very legitimate concerns about violence in schools, increased bullying, and a lack of mental health resources,” Keri Rodrigues, co-founder, and President of the National Parents Union, said in a statement.

“Now, it is incumbent on schools to do something about these issues, especially given the federal funds available. It’s not rocket science. Rather than repaint a football field, first, make sure that there are enough counselors to help students cope with mental health issues,” Rodrigues asserted.

The poll also asked the parents who responded that they were concerned about the threat of violence, which worries them the most.

The top three most pressing concerns remain:

  • 44 percent: schools not having enough counselors, psychologists, or social workers to work with students
  • 42 percent: schools not having resources to keep weapons out of schools
  • 39 percent: schools not having school resource officers or police accessible on campus
  • 59 percent of parents are extremely or very concerned about how schools are teaching about race and diversity; Among Black parents, 69 percent share this sentiment, which drops slightly to 67 percent among Hispanic parents.

Of the overall number of parents who are at least somewhat concerned (79 percent):

  • 48 percent say what concerns them the most is schools are not teaching accurate information about the issue of race.
  • 42 percent are most concerned about schools pushing a progressive agenda onto students
  • 56 percent of GOP parents who are concerned say this is their top concern
  • 32 percent are most concerned that schools aren’t focused on the issue enough
  • 46 percent of Black parents who are concerned say this is their top concern
  • 78 percent of parents are concerned about how schools are handling disciplinary issues
  • Nearly half (46 percent) of Black parents who said they are concerned about how schools are handling disciplinary issues are worried that schools are harsher on students of color compared to white students
  • 38 percent of parents trust Democrats to do a better job of handling education; 31 percent trust Republicans; 14 percent trust both equally; 11 percent trust neither

Among parents who identify as Independents, 28 percent trust Republicans and 20 percent trust Democrats.

“These findings underscore the importance of the very thing we have been imploring school leaders across the country to do – listen to the parents in your community,” Rodrigues stated.

“It also reinforces the need for those running for office to take the concerns of parents very seriously or risk losing elections.”

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COMMENTARY: Telling Our Family Stories Keeps Black History Alive

We grew up hearing family stories about life in the Carolinas from our parents and grandparents. My sister, Gwen Fortune-Blakely, has written her first children’s book, Rex and the Band, inspired by one of our favorite stories our grandma used to tell about my dad, Dr. Rex Fortune, who is now a retired public school superintendent.

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Dr. Margaret Fortune, Fortune School, University of Southern California (USC), football, USC marching band, marching bands, drumline, public charter school, Rex and Margaret Fortune Early College High School, family stories, life in the Carolinas, parents, grandparents, Gwen Fortune-Blakely, children’s book, Rex and the Band, grandma, Dr. Rex Fortune, retired public school superintendent, little Rex, spirited young boy, high-energy marching band, North Carolina A&T football games, sister’s beautifully illustrated book, Telling our family stories, African Americans, history, Griots, storytellers, grandparents, ancestors, passed on, Black press, clearinghouse, many stories, Black community, Ebony Jr., elementary school student, high school, Sacramento Observer newspaper, Cocoa Kids Books, engaging, authentic, uplifting, inspiring
Dr. Margaret Fortune is the president/CEO of Fortune School, a system of nine, K-12 public charter schools with over 2,300 students focused on closing the Black achievement gap by preparing students for college.

Let’s Talk Black Education

By Dr. Margaret Fortune, President/CEO Fortune School

When we were kids, my dad would take us to football games at the University of Southern California (USC). I didn’t care much for football, but I loved it when we’d stay after the game to hear the USC marching band play. His love for marching bands is why we have a drumline at the public charter school I founded and named after my parents — Rex and Margaret Fortune Early College High School.

We grew up hearing family stories about life in the Carolinas from our parents and grandparents. My sister, Gwen Fortune-Blakely, has written her first children’s book, Rex and the Band, inspired by one of ourfavorite stories our grandma used to tell about my dad, Dr. Rex Fortune, who is now a retired public school superintendent.

As the story goes, one day back in 1947, my grandma sent little Rex to the corner store to get some eggs so she could bake a cake. My dad bought the eggs and put them in his pockets. On the walk home, he encountered a marching band high-steppin’ down the dusty road to his mother’s house. Little Rex got so excited that he followed the band, beating on his legs like drums all the way home and, yes, breaking all the eggs.

“Rex and the Band” explores a day in the life of Rex, a spirited young boy who dreams of one day playing in a high-energy marching band like the ones he enjoys watching with his father during North Carolina A&T football games.

Reading my sister’s beautifully illustrated book, I cried tears of joy. Telling our family stories is such an important way for African Americans to keep our history alive. Griots, or storytellers, are the reason why we know the truths that we do know about our family history and ancestors.

I believe all of us can think back to when our grandparents would tell us stories about our ancestors who may have passed on before we were born. It was their way of making sure our stories were not only told but preserved.

The Black press has been the clearinghouse for many stories that have impacted the Black community over time. My sister published her first poem in Ebony Jr. as an elementary school student and then in high school she interned at the Sacramento Observer newspaper.

Gwen founded Cocoa Kids Books to publish books like “Rex and the Band” that encourage Black children to dream, aspire for more, and soar because they see themselves reflected in stories that are engaging, authentic, uplifting, and inspiring. I’m so proud of my big sis! You can buy Gwen’s book at https://store.bookbaby.com/book/rex-and-the-band.

Dr. Margaret Fortune is the president/CEO of Fortune School, a system of nine, K-12 public charter schools with over 2,300 students focused on closing the Black achievement gap by preparing students for college.

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American Cancer Society and Four Historically Black Colleges and Universities Announce Groundbreaking Diversity in Cancer Research Program to Improve Diversity, Equity, and Inclusion

The awards provided through the DICR program are unique in cancer research. They provide a large amount of salary support for the four colleges to select clinical faculty who need more dedicated time for their cancer research and scholarly activities. They also fund other student and postdoctoral programs and underpin the awards with career development funds and mentorship by established American Cancer Society Professors.

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These grants are designed to build capacity and enhance the competitiveness of faculty at MSIs when applying for nationally competitive grant support and aid in faculty development and retention. (Photo: iStockphoto / NNPA)

The American Cancer Society (ACS), along with four historically black medical schools including Charles Drew Medical School, Howard University, Meharry Medical College, and Morehouse School of Medicine, today announced a groundbreaking Diversity in Cancer Research (DICR) Program to help improve diversity, equity, and inclusion in the cancer research field.

The inaugural initiatives of the overarching program include DICR Institutional Development Grants. The four HBCUs have received DICR grants in a pilot program for 2021-2022.

The awards provided through the DICR program are unique in cancer research.

They provide a large amount of salary support for the four colleges to select clinical faculty who need more dedicated time for their cancer research and scholarly activities.

They also fund other student and postdoctoral programs and underpin the awards with career development funds and mentorship by established American Cancer Society Professors.

The grants will build sustainability for both clinical and scientific cancer-focused careers, launching or sustaining the careers of 104 individuals by 2025.

The impactful program will create a more inclusive research environment to address health disparities more effectively and could lead to targeted recruitment efforts focused on bringing people of color into clinical research protocols.

Establishing a research community that is made up of a diverse group of people is vital to ensuring scientific excellence.

“The American Cancer Society is committed to launching the brightest minds into cancer research and to reducing health disparities,” said Dr. William Cance, American Cancer Society Chief Medical and Scientific Officer.

“To accomplish this, we believe it is essential to invest in the minority workforce and their dedicated efforts to solve disparities and establish equity in cancer care.”

“There are many reasons the Black community continues to experience disparities in cancer care outcomes. But one of the most critical factors behind the imbalance, and one of the most promising paths to closing the gap, is diversity in cancer care research. We must improve diversity and representation in our laboratories if we expect different outcomes in our hospitals,” said Dr. Wayne A. I. Frederick, president of Howard University.

“As a cancer surgeon and as the president of an HBCU, I believe the Diversity in Cancer Research Program will prove to be pivotal in altering the field of cancer care research and improving cancer care outcomes for Black Americans. I am deeply appreciative of the American Cancer Society’s efforts behind this initiative.”

Data show that African Americans and Black people, Hispanics and Latinos, indigenous people and native Hawaiians and other Pacific Islanders are underrepresented in grant funding.

Fewer than 2% of applicants for the National Institute of Health’s principal grant program come from Black/African Americans, and fewer than 4% from Hispanic/Latino populations.

“We are incredibly excited about this new program with the American Cancer Society,” said Dr. James E.K. Hildreth, Ph.D., MD, President and CEO of Meharry Medical College.

“There is a significant imbalance in the representation of minority populations in clinical research which has led to poorer outcomes for specific racial and ethnic minority groups. To eradicate the varying health disparities that affect these populations, we must prioritize diversifying clinical trials and those who conduct trials to ensure treatment is safe and effective.”

This is a fantastic step to ensuring minority populations receive effective treatment and provides great opportunities for our students and faculty to engage in cancer research,” Dr. Hildreth stated.

“The development of diverse, highly competitive, and independent research faculty has been a goal at CDU since its inception 55 years ago,” shared Dr. David M. Carlisle, President and CEO of Charles R. Drew University of Medicine and Science, located in South Los Angeles.

“This generous grant from the American Cancer Society will directly support a range of programs towards that goal, including the Center to Eliminate Cancer Health Disparities as well as our Clinical Research and Career Development Program, which provides training and mentoring in health disparities and community-partnered participatory research to minority scholars and junior faculty at CDU. This funding will undeniably help CDU in forming a solid foundation in social justice for future cancer research leaders.”

With the DICR program, ACS has committed to a $12 million investment to support four HBCU medical schools with DICR institutional development grants to fund a four-year program that aims to increase the pool of minority cancer researchers by identifying talented students and faculty from HBCUs.

This program will inform efforts to develop a national program to boost cancer research and career development at minority-serving institutions (MSIs).

These grants are designed to build capacity and enhance the competitiveness of faculty at MSIs when applying for nationally competitive grant support and aid in faculty development and retention.

“Here in Georgia, cancer health disparities exist by age, gender, race, income, education, and access to care, among other factors, with Georgia residents in rural communities experiencing worse cancer health outcomes than their urban counterparts,” said Valerie Montgomery Rice, MD, president and CEO at Morehouse School of Medicine.

“The DICR program will be a much-needed and welcome contribution to our work at the Morehouse School of Medicine Cancer Health Equity Institute, forever changing the field of cancer research. The program will not only ensure diversity and inclusion in research, but address health disparities in diverse communities, and assist in our mission in leading the creation and advancement of health equity.”

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