rssPosts by Martha C. White
Renters also hit by foreclosure crisis
Although the plight of homeowners affected by the real estate meltdown has been well-documented, renters have mostly fallen under the radar. Recently passed national legislation includes some renter protections, but tenant advocacy groups charge that the new law only scratches the surface.
The number of renters being forced from their homes around the country is on the rise as foreclosures increase.
Marginal workers, underemployed push economic fringe to limit
While the steady rise of the nation’s unemployment rate has become shorthand for the recession’s impact, many economists say the grim figures — 8.9 percent in April — don’t tell the whole story of Americans’ financial distress.
The plight of the jobless tends to dominate social policy conversations and media coverage but a less-exposed but equally vulnerable population is the millions of underemployed. This diffuse, often poorly tracked cross-section of citizens who bear the individual and collective challenges living on the economic fringes often go overlooked by policy makers and elected leaders.
Prepaid ‘cash cards’ a pricey way to swipe
Americans are more conscious of debt than ever. Feeling burned by bank overdraft fees of $30 or more, or by credit-card interest rates that can top 25 percent, a growing number of consumers are turning to prepaid, reloadable “cash cards.”
For a large segment of users, primarily low- and moderate-income consumers, these cards function as ersatz bank accounts. These consumers are referred to as the “unbanked” in card-industry parlance. With a cash card, those with poor credit or too little money to meet banks’ minimum account balance requirements can participate in the retail transactions most people take for granted: ordering goods online, paying for items with a quick swipe, getting cash on demand from ATMs.
