Why Is My Bank Teller Trying to Sell Me a Credit Card I Don't Want?
Mother Jones - April 9, 2015, by Josh Harkinson - Until recently, your typical banker was someone whose main job was to...
Mother Jones - April 9, 2015, by Josh Harkinson - Until recently, your typical banker was someone whose main job was to accept deposits, cash checks, and dispense basic financial advice. But now that job hardly exists anymore—at least not as we once knew it. Today's front-line bank workers—tellers, loan interviewers, and customer-service reps—earn far too little money to be considered "bankers" in the traditional sense of the word. And though they still collect and dispense money, their main job involves hawking credit cards and loans you probably don't need.
Many rank and file bank workers are seeing lower wages and more pressure to hawk financial products.Rank-and-file bank workers are both causes and symptoms of America's widening economic divide, says Aditi Sen, the author of Big Banks and the Dismantling of the Middle Class, a report released today by the Center for Popular Democracy. Based on union organizer interviews with hundreds of workers in the industry, Sen found that front-line bank workers often face quotas for hawking potentially exploitive financial products, often to low-income customers, even though the workers themselves barely qualify as middle class. "We can definitely see bank workers as part of the same continuum of issues facing all low-wage workers," she says.
Banks are, of course, notorious for squeezing profits from their employees and customers. In 2011, the Federal Reserve Board fined Wells Fargo $85 million for forcing workers to sell expensive subprime mortgages to prime borrowers. And in late 2013, a judge slapped Bank of America with a $1.27 billion penalty for its "Hustle Program," which rewarded employees for producing more loans and eliminating controls on the loans' quality.
Yet, by some accounts, these sorts of practices are getting worse. In a 2013 study by the union-backed Committee for Better Banks, 35 percent of low-level bank workers surveyed reported increased sales pressure since 2008, and nearly 38 percent stated that there was no real avenue in the workplace to oppose such practices. One HSBC bank employee, according to the study, reported that workers who failed to meet their sales goals had the difference taken out of their paychecks.
The increasing sales pressure comes at a time when the fortunes of the banks and their low-level workers have diverged widely. Bank profits and CEO pay have rebounded to near record levels while wages for front-line workers are stuck in the gutter.
And that's not all. Nearly a quarter of bank workers surveyed in 2013 reported that their benefits had been cut since 2008, and 44 percent reported that their medical and life insurance was inadequate. A recent University of California-Berkeley study found that 31 percent of bank tellers' families rely on public assistance at an annual cost of $900 million to taxpayers.
There are several factors in all of these woes. Mergers and consolidation have led some retail banks to shutter branches and lay people off. Many banks have outsourced customer-service jobs to overseas call centers, and the rise of internet and smartphone banking has further slashed demand for flesh-and-blood tellers. In other words, it's basically the same mix of foreign and technological competition that has concentrated wealth and depressed middle-class wages throughout the economy. And it means that banks can get away with paying people less, and demanding more in return.
But now the Committee for Better Banks is trying to cultivate common cause between low-level bank workers and the customers they're forced to target. The interviews featured in the new report show that many bank workers strongly oppose the sales quotas as unfair and exploitive. For instance:
A teller at a top-five bank reports that she is subject to stringent individual goals on a daily basis: If she does not make three sales-points (selling someone a new checking, savings, or debit card account) each day in a month, she gets written up.
Customer service representatives at a call center for another major bank report that each individual has to make 40 percent of the sales of the top seller to avoid being written up. Selling credit cards counts more towards sales goals than helping someone open up a checking account or savings account, thereby crafting skewed incentives based on the profitability of a product sold, not on how well it matched the needs of a customer.
"There was one guy who had three credit cards and I ended up pushing a fourth on him, even though I knew that was not good for him.""A lot of time people would call and already have one, two, or three credit cards with us," says Liz, a member of the Committee for Better Banks who worked in a Bank of America call center for five years and did not want to give her last name. "They might have a situation where they are low on funds and we end up pushing another credit card on them. There was one guy who had three credit cards and I ended up pushing a fourth on him, even though I knew that was not good for him; he would just be in more debt. But if didn't, I would end up being put in a reprimand."
On Monday, members of the Committee for Better Banks will converge in Minnesota's Twin Cities to deliver a petition to bank offices demanding better pay and more stable work hours for rank-and-file workers, and an end to sales goals that "push unnecessary products on our customers."
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Jessica Biel Throws Shade, Meryl Streep, Mila Kunis & More
Jessica Biel Throws Shade, Meryl Streep, Mila Kunis & More
Alyssa Milano and Ady Barkan attend the Los Angeles Supports a Dream Act Now! protest on Wednesday....
Alyssa Milano and Ady Barkan attend the Los Angeles Supports a Dream Act Now! protest on Wednesday.
See the picture here.
Report: Charter schools have lost $30 million since 1997
Times Online - October 2, 2014, by JD Prose - A day after Pennsylvania Cyber Charter School founder Nick Trombetta was...
Times Online - October 2, 2014, by JD Prose - A day after Pennsylvania Cyber Charter School founder Nick Trombetta was in a federal courtroom as part of his ongoing criminal case, a new report cited him as an example of $30 million in fraud and financial mismanagement among Pennsylvania charter schools since 1997.
The report, “Fraud and Financial Mismanagement in Pennsylvania’s Charter Schools,” was done by three organizations, the Center for Popular Democracy, Integrity in Education and Action United.
It piggybacks on a national report on charter schools in May by the Center for Popular Democracy and Integrity in Education that claimed more than $136 million has been lost to waste, fraud and abuse by charter schools.
The Pennsylvania Coalition of Public Schools issued a statement saying allegations of fraud must be investigated.
“However,” the statement continued, “the report draws sweeping conclusions about the entire charter sector based on only 11 cited incidents in the course of almost 20 years, while ignoring numerous alleged and actual fraud and fiscal mismanagement in the districts over the same time period, which dwarf the charter school allegations in terms of alleged misuse of taxpayer dollars.”
To stem the loss of tax dollars by charter schools, the three nonprofit organizations make several recommendations, including annual fraud risk assessments, trained forensic auditors doing reviews, charter school authorizers doing comprehensive reviews every three years instead of every five years, and charter schools posting findings of internal assessments.
City and county controllers should also be authorized to perform fraud risk assessments and fraud audits on charter schools, the groups recommended.
They also suggested that the state attorney general’s office review all charter schools in Pennsylvania, that the Legislature pass a law to protect and encourage charter school whistle-blowers, and that the state declare a moratorium on new charter schools until reforms are implemented.
Trombetta, who faces 11 federal charges, including mail fraud and filing false tax returns, is cited as one example in the report. On Tuesday, he was in court trying to get recordings tossed in the case, in which he is accused of using various offshoots of PA Cyber to siphon away millions of taxpayer dollars.
The coalition said the report’s recommendations should be applied to traditional school districts as well as charter schools “in the name of intellectual integrity.” If not, it would just be an example of pursuing a political agenda, the coalition said.
Not surprisingly, the president of the National Education Association issued a statement trumpeting the report’s findings and blasting charter school supporters, especially Gov. Tom Corbett. “It’s time for lawmakers to stop providing charter industry players a blank check with little oversight and no accountability,” said Lily Eskelsen Garcia.
“Pennsylvania Gov. Tom Corbett and other politicians in the state continue to push for privatization, despite compelling evidence of fraud and abuse of taxpayer funds in the charter school industry,” Garcia said.
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Panelists talk immigration policy at CNN documentary screening
Panelists talk immigration policy at CNN documentary screening
Ana María Archila, the co-executive director for the Center of Popular Democracy, said immigrants are frightened and...
Ana María Archila, the co-executive director for the Center of Popular Democracy, said immigrants are frightened and anxious just living their lives and going about their daily routines.
Read the full article here.
Conyers presses Federal Reserve for more diversity
Conyers presses Federal Reserve for more diversity
Washington — Rep. John Conyers, the longest serving member of Congress, is leading a group of 127 lawmakers who are...
Washington — Rep. John Conyers, the longest serving member of Congress, is leading a group of 127 lawmakers who are urging the Federal Reserve System to add more diversity to its leadership ranks and become more attuned to economic problems in minority communities.
The lawmakers complained that all but one of the 12 Federal Reserve Bank presidents across the nation are white and 10 of them are men. In addition, they said none of the current Federal Reserve presidents are African-American or Latino, and the system has never had a regional president who is black.
“Far too often, the voices of minorities are silenced because they aren’t sitting at the table,” Conyers, the longtime Democrat and African-American Detroiter, said in a statement. “The Federal Reserve needs leadership that models the diversity that exists in this Nation.”
The Federal Reserve has banks in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco. Detroit is part of the Chicago bank.
Conyers said the diversity of the bank’s regional presidents is important to Detroit and other urban cities, however.
“Detroit and cities across the country with high minority populations have the highest unemployment rates and will be harmed if the Federal Reserve does not consider our needs when they make key policy decisions,” he said. “Increasing diversity at the Federal Reserve will help ensure that the needs of people of color, women, labor, and consumers are part of the crucial conversation in our nation’s central bank.”
A spokesman for the Federal Reserve’s Board of Governors said the system has been committed to bolstering diversity and continues to aim for increasing ethnic and gender diversity.
“Minority representation on Reserve Bank and Branch boards has increased from 16 percent in 2010 to 24 percent in 2016,” spokesman Dave Skidmore said in a Thursday statement. “The proportion of women directors has risen from 23 percent to 30 percent over the same period. Currently, 46 percent of all directors are diverse in terms of race and/or gender (with a director who is both female and a minority counted only one time).
“We are striving to continue that progress.”
The letter, which is signed by 116 House members and 11 Senate members, is being spearheaded by Conyers and Sen. Elizabeth Warren, D-Massachusetts.
Other Michigan representatives who signed the letter were Brenda Lawerence, D-Southfield; Sander Levin, D-Royal Oak; Dan Kildee, D-Flint Township; and Debbie Dingell, D-Dearborn. Democratic presidential candidate and U.S. Sen. Bernie Sanders of Vermont was also a signatory.
By Keith Laing
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I'm a Puerto Rican refugee from Hurricane Maria. Here's why I care about the Pa. midterm
I'm a Puerto Rican refugee from Hurricane Maria. Here's why I care about the Pa. midterm
"I am a hurricane Maria survivor who now calls the state of Pennsylvania my home...Without support from the federal...
"I am a hurricane Maria survivor who now calls the state of Pennsylvania my home...Without support from the federal government, I am grateful for the assistance of grassroots organizations and nonprofits like CASA and CASA in Action, affiliates of the Center for Popular Democracy...I am now proud to work with CASA in action, canvassing and energizing voters. It is empowering to knock on doors and connect with other Latinos and long time residents who came to Pennsylvania before me. They understand that it is our duty as a community to come together and send a strong message that we are here and that we vote too."
Read the full article here.
Why Community Schools Are The Key To Our Future
by Kyle Serrette, Director of Education Justice Campaigns, Center for Popular Democracy John H. Reagan High...
by Kyle Serrette, Director of Education Justice Campaigns, Center for Popular Democracy
John H. Reagan High School is located in northeast Austin. In the late 1990s and early 2000s, Reagan’s student body became increasingly poor as middle-class families left the area. In 2003, a student was stabbed to death by her former boyfriend in a school hallway. The incident made headlines and scared away neighborhood families. Students left Reagan in droves. Enrollment dropped from more than 2,000 students to a new low of 600, and the graduation rate hovered just below 50 percent. In 2008, the district threatened to close Reagan. In reaction, a committee of parents, teachers, and students, brought together by Austin Voices for Education and Youth, formulated a plan to turn Reagan into a community school. The district accepted their plan.
Today, five years after adopting the community school strategy, Reagan is graduating 85 percent of its students, enrollment has more than doubled, and a new early college program has made it possible for Reagan’s students to earn two years of college credits from a nearby community college while still attending high school.
Reagan High School, or any community school for that matter, doesn’t immediately look different than any other school — that is, until you spend some time there.
At 3.8 million square miles, the United States is a big place, with almost 50 million primary and secondary students attending more than 98,000 public schools in 14,000 school districts.
Many things unite our vastly different 50 states, but our approach to education is not one of them.
It is fair to say that the United States does not have one approach to education. Rather, it has thousands of pedagogical approaches that fit into roughly the same structure (elementary, middle, high school).
If the universe of poorly funded public schools in the United States were the night sky on a clear night, you would find some really bright stars and a lot of jarring empty space. The problem with a scattershot approach to education in such a vast country is that there’s no effective way to share successful practices.
Thousands of schools in poor neighborhoods fail generation after generation, while other schools with the same demographics and challenges have found ways to succeed and break the cycle of failure. Today, if you are a business, nonprofit, or any type of entity, it is quite hard to figure out if a school wants help or what kind of help it needs. Most schools lack a clear analysis of what they need to help improve outcomes, and if they do have a clear understanding of needs, most lack a point person to manage partnerships.
Unfortunately, there is also no sound system for sharing successful strategies from schools that are getting it right. This is analogous to a heart surgeon developing a revolutionary life-saving approach and only telling people she bumped into about it. Yet that’s basically how our education system works in the United States.
While poor schools have taken many paths to transform themselves into successful schools, one particular path has worked again and again. There are 5.1 million children enrolled in approximately 5,000 community schools in the United States, and those numbers are growing quickly. In New York, mayoral candidate Bill de Blasio promised to create 100 community schools. As mayor, he has fulfilled that campaign promise and recently announced a plan to grow that number to 200 by 2017.
Philadelphia mayoral candidate Jim Kenney announced a plan to open 25 new community schools during his first term. This past December, Ras Baraka, mayor of Newark, announced a plan to scale up community schools with a tentative commitment of $12.5 million from the Foundation for Newark’s Future, the organization created to manage the $100 million that Facebook founder Mark Zuckerberg donated to the city in 2010 to reform the city’s floundering school system.
Community schools are not a new concept. John Rogers, community schools historian at UCLA, tells us they have existed at least since the turn of the 20th century in many forms, but always with the same objective of addressing inequities at both the school and community levels. Jane Addams’s Hull House in the 1890s is an early example: “There were kindergarten classes in the morning, club meetings for older children in the afternoon, and for adults in the evening more clubs or courses in what became virtually a night school. The first facility added to Hull House was an art gallery, the second a public kitchen; then came a coffee house, a gymnasium, a swimming pool, a cooperative boarding club for girls, a book bindery, an art studio, a music school, a drama group, a circulating library, an employment bureau, and a labor museum.”
Long before Reagan became a community school, it housed a daycare for the babies of student mothers so they could continue their education. That daycare still exists today with approximately 20 babies enrolled, but there’s more. When school social workers noticed that student moms at Reagan were missing classes to take their babies to doctor appointments, the social workers applied for and won a grant to have a mobile clinic visit the campus once a week. Now student moms can make appointments for their babies to receive checkups without leaving school. Reagan also allows parents to eat lunch with their babies in the daycare and attend parenting classes. Students in Reagan’s Pregnant and Parenting Teen Program now have a remarkable 100 percent graduation rate.
Discipline problems historically have plagued Reagan. Students were frequently suspended, and chronic attendance issues landed students and families in court, which then imposed fines that families could not afford. Dropout rates were high.
Today, a full-time bilingual social worker works to diagnose chronic attendance problems and connects students and their families with supports, with service referrals rather than fines. A student-led youth court has been developed in partnership with the University of Texas–Austin Law School. The youth court and a restorative justice program together have dramatically reduced discipline issues. Today, Reagan is a top Title I high school in Austin.
While there is a fair amount of variability within schools that have implemented this strategy, thousands of schools have gotten it just right. We wanted to understand what distinguished them from the others.
Here’s what we found those schools shared in their strategic plans: 1) culturally relevant and engaging curricula; 2) an emphasis on high-quality teaching, not high-stakes testing; 3) wraparound supports, such as health care and social and emotional services; 4) positive discipline practices, such as restorative justice; 5) parent and community engagement; and 6) inclusive school leadership committed to making the transformational community school strategy integral to the school’s mandate and functioning.
It all seems intuitive. Schools that form strategic partnerships with businesses, nonprofits, local and federal governments, universities, hospitals, and other organizations to meet core unmet needs are usually successful over time. In most strapped schools, a principal doesn’t have time to find the appropriate partners, let alone conduct an analysis of needs. This leaves schools with a random partner strategy, which is no strategy at all. The community school strategy puts one person in charge of determining the school’s ever-evolving needs. The cost incurred to create this position and the work it supports — around $150,000 — pays for itself and then some.
Nine years ago, when Baltimore’s Wolfe Street Academy elementary school became a community school, 90 percent of its students were living in poverty, 60 percent spoke a language other than English at home, and its mobility rate was high at 46.6 (less than half of its students attended for more than three years). Wolfe Street Academy ranked 77th in the district in academic measures, and only half its children reached reading proficiency by fifth grade. It had no library and only sporadic parent or community engagement.
Today, Wolfe Street ranks second in the city academically, its mobility rate has dropped to 8.8 percent, 95 percent of fifth-grade students are reading proficient, and its average daily attendance rate is 95 percent. It has a library, a book club, and volunteer help from a retired librarian. Forty parents attend a morning meeting every day before school while the students eat breakfast. They share school and community news, both good and bad. This transformation at Wolfe Street has taken place even as more students living in poverty have arrived and as the number of students speaking a language other than English in the home has grown.
During one of Wolfe Street’s annual needs assessments, it determined that its curriculum was not dynamic enough to give the school a chance to achieve its academic goals. In response, Wolfe Street formed a partnership with the Baltimore Curriculum Project, which now provides staff with professional development and supports the school with teacher recruitment and retention.
When the assessment revealed that many of its students had never visited a dentist the school partnered with the University of Maryland Dental School to hold free oral health screenings for all the students. A partnership was formed as well with the University of Maryland’s School of Social Work as a way to respond to what the assessment revealed about the daily impact of trauma on their students’ lives. Now licensed social workers and multiple social work interns are available and offer case management and referrals.
We are in the enviable position of knowing what works. And now, with the recent passage of the federal education legislation Every Student Succeeds Act, funds are explicitly available for the essential elements of community schools, such as community school coordinators, needs assessments, and after-school programming.
A United States where every public school is a community school would be a very different place — it would be a school with the community inside it. Your bank, local architect, grocery store, hospital, and other institutions we associate with being part of the broader community outside our schools would be deeply integrated into them. The tax code could be designed to accelerate and incentivize partnerships with schools. The lines between the inside and outside of schools would blur.
And if you imagine a United States in 2050 where all 98,000 schools have a clear sense of their individual needs and are able to communicate these needs effectively to potential partners, this might be a game changer.
With a new granular understanding of every school’s needs, we could scale partnerships and connect schools with similar needs or pair schools that could benefit from each other’s strengths. We could analyze needs and assess intervention strategies between schools and across districts, cities, states, and the nation.
If you can imagine the world back when it wasn’t connected by the internet and experience again how everything changed when we finally were connected, that is the level shift our schools would experience if every school were a community school. A networked school system would exist, and our atomized system of disparate schools would fade away as a relic of the past.
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Marvel stars raise at least $500K for Puerto Rico at Atlanta’s Fox Theatre
Marvel stars raise at least $500K for Puerto Rico at Atlanta’s Fox Theatre
Marvel stars who have been filming in Atlanta helped raise at least $500,000 for hurricane recovery efforts in Puerto...
Marvel stars who have been filming in Atlanta helped raise at least $500,000 for hurricane recovery efforts in Puerto Rico at a Monday night event at the Fox Theatre.
Scarlett Johansson came up with the idea to pull together a benefit event. Her colleagues Chris Evans, Jeremy Renner, Mark Ruffalo and Robert Downey Jr., all of whom have been in town filming Marvel’s latest “Avengers” project, eagerly joined the effort. Atlanta’s Tony-winning director Kenny Leon served as director.
Read the full article here.
Ford Supporters Descend on Senate Offices of Grassley and Collins to Demand GOP #CancelKavanaugh
Ford Supporters Descend on Senate Offices of Grassley and Collins to Demand GOP #CancelKavanaugh
The Women's March, NARAL Pro-Choice America, and the Center for Popular Democracy all participated in the protest,...
The Women's March, NARAL Pro-Choice America, and the Center for Popular Democracy all participated in the protest, where demonstrators chanted, "We believe Christine Ford! We believe Anita Hill!" before proceeding to senators' offices.
Read the full artilce here.
Arpaio Meets Virtually No DOJ Criteria for a Pardon
Arpaio Meets Virtually No DOJ Criteria for a Pardon
President Donald Trump’s unorthodox, dysfunctional behavior and decision-making may lead him to violate a whole slew of...
President Donald Trump’s unorthodox, dysfunctional behavior and decision-making may lead him to violate a whole slew of new norms if he announces a pardon Tuesday night, as he has said he might, for former Arizona Sheriff Joe Arpaio. Legal analysts and Dept. of Justice guidelines reviewed by TYT suggest that granting a presidential pardon to the controversial former sheriff would go against virtually every recommended criteria the DOJ has for appropriate pardon candidates.
Read the full article here.
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