California Asset Building

Prepared Testimony of Anne Stuhldreher for the Los Angeles Committee on Jobs and Business Development

Elizabeth Wu — Tue, 17 Nov 2009 14:30:00 -0500

Chairman Alarcón and members of the Committee, I am pleased to submit testimony to the Los Angeles Committee on Jobs and Business Development on the topic of increasing the take up of the Earned Income Tax Credit in Los Angeles. I applaud Chairman’s Alarcon’s leadership in exploring effective ways to bring more of this important resource to Los Angeles—for the sake of Los Angeles working families and the local economy.

Maria Sotero

Operations — Tue, 10 Nov 2009 10:33:00 -0500

Research Associate, California Asset Building Program

Maria Sotero is the Research Associate for the Asset Building Program in California. She works to support the program and its work through research, writing, and event planning. She blogs about financial empowerment strategies for low-income Californians and manages the program's social media outreach, working to build and maintain a virtual warehouse of asset policy… more

Banking Development District Initiative Advances in Los Angeles

Elizabeth Wu — Fri, 30 Oct 2009 14:22:00 -0400

For Immediate Release

Banking Districts Proposed for Low Income Areas | San Fernando Valley Business Journal

Erin Drankoski — Fri, 30 Oct 2009 11:28:00 -0400

According to the New America Foundation, more than 300,000 Angelenos lack basic checking and savings accounts. "But this is a reality in too many low-income communities throughout Los Angeles and across the state, where banks and credit unions are nonexistent," said Olivia Calderon, California legislative director of the Asset Building Program at the foundation. ... Original Article

Banks for Poor Neighborhoods in Los Angeles | La Opinion

Erin Drankoski — Thu, 29 Oct 2009 12:31:00 -0400

"A bank does not charge horrifying interest rates to customers who need an emergency loan," said Olivia Calderón, Legislative Director of the New America Foundation.

"In poor communities there is a great need and if they continue to lack basic bank accounts it will be increasingly difficult for them to get ahead," said Calderón. ... Original Article

CA EVENT: Updating California's Poverty Measure

Elizabeth Wu — Wed, 21 Oct 2009 11:41:00 -0400

A New America Event
10/14/2009 - 12:00pm

The California Asset Building program hosted a policy roundtable discussion Wednesday October 14 in the State Capitol on updating the antiquated and misleading way we measure poverty. New York City Mayor Michael Bloomberg's Director of Poverty Research, Mark Levitan, led Assembly and Senate staff in the in-depth discussion (view his presentation here). Last year, New York City enacted an updated and improved poverty measure based on recommendations made by the National Academy of Sciences.

We Need to Fix How We Measure Poverty

Erin Drankoski — Tue, 13 Oct 2009 11:19:00 -0400

From climate change to redistricting, New York City Mayor Michael Bloomberg and Gov. Arnold Schwarzenegger have teamed up on a number of issues. It's time to add another to the list -- updating the antiquated and misleading way we measure poverty.

It may seem like an odd concern for the Republican duo. But Bloomberg took the lead on the issue last year when conditions in New York City were similar to those California faces today: The economy was down; need was rising; and public resources were constrained.

What's In Your Bank? | Examiner.com

Cecille Isidro — Tue, 18 Aug 2009 02:13:00 -0400

According to New America Foundation, 38% of all households are in a state of asset poverty, in that they lack liquid financial resources to support their ...

California's Budget Plan Passed. Now What?

Elizabeth Wu — Fri, 24 Jul 2009 17:00:00 -0400

This afternoon the state legislature approved a budget to close the $24 billion deficit. The budget included cuts to health care, education, CalWORKS, prisons, and state worker pay.

New America Foundation experts released the following statements:

Steven Hill, Director, Political Reform Program:

CA EVENT: Women & Wealth

Elizabeth Wu — Fri, 17 Jul 2009 04:30:00 -0400

A New America Event
07/17/2009 - 12:00pm

Assemblywoman Lori Saldaña opened the Women and Wealth Asset Policy Forum event, sponsored by the New America Foundation's Asset Building Program in partnership with the California Women's Legislative Caucus, the California Commission on the Status of Women, and the California Women's Agenda.