Finance

Citibank Eliminates Barriers to Low-Income Americans
Finance

Citibank Eliminates Barriers to Low-Income Americans

February 4, 2015 By Neal Tepel New York, NY – Citibank has agreed to adopt new policies governing its screening of lower-income customers seeking to open checking or savings accounts. Citibank’s will now allow thousands of additional New Yorkers and consumers nationwide to open bank accounts.

City’s Tourism Generated Record $61.3 Billion
Finance

City’s Tourism Generated Record $61.3 Billion

February 3, 2015 By Stephanie West New York, NY — New York City reached an all-time record of 56.4 million visitors in 2014. Tourism generated a record $61.3 billion in overall economic impact, supporting 359,000 related jobs and $21 billion in wages.

A Wage Floor Forces Employers To Pay Better
Finance

A Wage Floor Forces Employers To Pay Better

January 22, 2015 By Oren M. Levin-Waldman, Ph.D. It has become a staple of the neoclassical economics model that when productivity increases, then so too will wages. Why is this? Because in a competitive market each worker receives the value of his or her marginal product, which is the amount of an increase in say…

Jobs Increase But Wages Stagnate
Finance

Jobs Increase But Wages Stagnate

January 12, 2015 By Neal Tepel Washington, DC – The Labor Department has reported that the U.S. created more jobs in 2014 than any year since 1999, but paychecks continue to decline. With jobs increasing across the U.S., wages are now the nation’s chief economic concern.

AFL-CIO Equity Index Fund Grows to $6 Billion!
Finance

AFL-CIO Equity Index Fund Grows to $6 Billion!

December 30, 2014 By Mike Stotz, AFL-CIO Investment Trust Corporation President Washington, DC – In just two months the AFL-CIO Equity Index Fund—already the fastest growing investment program in AFL-CIO history—raised an additional one billion dollars in new investments from more than a dozen pension plans. That means that we now have more than six…

New York Funds Affordable Housing Projects
Finance

New York Funds Affordable Housing Projects

December 30, 2014 By Neal Tepel More than $16.5 million has been awarded for the construction of 240 new units of affordable housing across the State. “All New Yorkers should have a safe and decent place to call home, and today we’re taking another step toward making that goal a reality,” Governor Cuomo said.

Former Labor Leader Calls Budget Compromise a Debacle
Finance

Former Labor Leader Calls Budget Compromise a Debacle

December 25, 2014 By Marc Bussanich Happy Holidays Working Folk!! New York, NY—The former president of Workers United and UNITE HERE! called the recent $1.1 trillion budget compromise a “debacle” because the new spending bill now allows very wealthy people to spend even more cash to influence politics in Washington, D.C than before.

Amalgamated Bank Hires Former White House Aide
Finance

Amalgamated Bank Hires Former White House Aide

December 25, 2014 By Stephanie West New York, N.Y – Amalgamated Bank announced that Sam Brown, a former aide in the Obama administration, has been selected to lead the bank’s business development team to customize banking services for unions.

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