Cash
$4,750,000 Guaranteed Income Program To Distribute Cash to Citizens Across One US State
A multi-million dollar guaranteed income pilot program is preparing for launch after a US state’s executive and legislative branches gave the green light.
The new initiative is designed to help citizens living in the low-income bracket in California.
The program, tentatively known as “Guaranteed Income Older Adults,” will target individuals who are 60 years of age or older residing in the state, and who are either eligible for or receiving a means-tested benefit of some kind from the government.
The California Department of Social Services (CDSS) says the total funding for the pilot program, which is catered for in California’s budget for the 2024/2025 fiscal year, will be $4.75 million.
Amid plans to roll out the guaranteed income pilot program, the CDSS says it held community listening sessions last year.
Some of the recommendations received include setting a minimum payment of $500 per month for at least half a year.
The CDSS says the minimum number of participants recommended for the pilot program was 200. A recommendation was also made to give the participants liberty to decide whether they want recurring payments, in a lump sum or a combination of both.
Ahead of the rollout of the Guaranteed Income Older Adults pilot program, the CDSS is now seeking a public or private nonprofit organization to run the project for three and a half years.
Those applications must be submitted by April 9th and the chosen application will be announced on June 25th.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
account
$735,000 To Be Handed Out After Billion-Dollar Firm Allegedly Froze Bank Accounts, Forced Customers To Pay ‘Outrageous’ Fees
A billion-dollar fintech firm is preparing to send a total of $735,000 to tens of thousands of customers in a major settlement with regulators.
New York Attorney General Letitia James says she’s secured more than $1 million from Netspend.
The AG’s office says the firm, which provides reloadable debit cards and payroll cards, violated numerous consumer protection laws and charged “outrageous” interest rate fees, hurting predominately low-income New Yorkers.
“For years, the company illegally froze its customers’ accounts and turned over their funds, which should have been protected, to debt collectors instead.
Netspend also charged illegal fees on its debit and payroll cards that cost customers hundreds of thousands of dollars, and operated a paycheck advance program that charged customers illegally high interest rates.”
The firm has agreed to distribute the $735,000 and change its policies to comply with New York’s consumer protection laws.
The firm will also pay over $350,000 in penalties directly to the state.
People with active debit or payroll accounts at Netspend will have their accounts credited for restitution, and anyone without active accounts is expected to receive checks in the mail directly from the company.
Netspend’s consumer business was acquired by Rêv Worldwide and Searchlight Capital Partners for $1 billion in 2023, and they operate the firm under a new parent company called Ouro.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
Whales Abruptly Deposit Ethereum Altcoin to Binance and OKX, Causing Price To Plummet 50%: On-Chain Data
HK Asia Holdings Becomes First In China To Adopt Bitcoin Treasury
Ancient Mystery or Modern Hoax? Experts Debunk Giza Pyramid Claims
Kaspa price prediction | Is Kaspa a good investment?
World Liberty Financial-Labeled Tokens Spark Speculation of Trump-Backed Project’s Stablecoin Launch
Brad Garlinghouse Discusses Ripple’s Future, Crypto Legislation & Blockchain Technology As Lawsuit Ends
Analyst Sets Dogecoin Next Target As Ascending Triangle Forms
Crypto exchange Kraken exploring $1B raise ahead of IPO: Report
Bitcoin and Stock Market Rally Hard as White House Narrows Scope of Tariffs
Tabit Insurance Raises $40 Million Bitcoin-Funded Insurance Facility
Strategy’s Bitcoin Holdings Cross 500,000 BTC After Stock Sales
PwC Italy, SKChain to launch self-sovereign EU digital ID
PwC Italy, SKChain Advisors to Build Blockchain-Based EU Digital Identity Product
Bitcoin Price Set To Explode as Global Liquidity Z Score Flashes Buy Signal
Crypto Braces For April 2 — The Most Crucial Day Of The Year
24/7 Cryptocurrency News5 months agoArthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
Bitcoin2 months agoExpert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
24/7 Cryptocurrency News2 months agoAptos Leverages Chainlink To Enhance Scalability and Data Access
Bitcoin5 months agoBitcoin Could Rally to $80,000 on the Eve of US Elections
Bitcoin4 months agoInstitutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
Altcoins2 months agoSonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
Opinion5 months agoCrypto’s Big Trump Gamble Is Risky
Price analysis5 months agoRipple-SEC Case Ends, But These 3 Rivals Could Jump 500x
