Student Loan Rates Double Without Congress’ Action

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WASHINGTON — College students’ interest rates are at the mercy of Congress. The interest rates on subsidized Stafford loans doubled from 3.4 percent Monday and could stay doubled unless Congress fulfills its pledge to restore lower rates when it returns from the Fourth of July holiday. Lawmakers from both parties, as well as the White […]

ROBERT WOODS: How To Determine Your Spending Personality


OPINION – Budgeting and finance are two of the most important factors in measuring the quality of life in America. If your financial situation is in turmoil, so is your happiness. As the old saying goes: “When money gets short, so does understanding.” Generally speaking, in the African American community, we do not focus on […]

AZIZZA GOINES: The Dream of Township 9


OPINION – On Wednesday January 16, 2013, I was invited and honored to witness the groundbreaking ceremony of Cannery Place at Township 9 here in Sacramento. Just in case you’re unaware of this project, it is an urban infill project spearheaded by Nehemiah Corporation and is located off of Richards Boulevard and 7th Street. I […]

5% of Consumers Had Errors on Their Credit Reports


WASHINGTON – A Federal Trade Commission study of the U.S. credit reporting industry found that five percent of consumers had errors on one of their three major credit reports that could lead to them paying more for products such as auto loans and insurance. Overall, the congressionally mandated study on credit report accuracy found that […]

New App Helps Locate Black-Owned Businesses

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WASHINGTON – Hundreds of Black-owned businesses have a new way for consumers to find and shop with them. There is an app for that. The Around the Way app, the brainchild of a marketing and technology firm in Washington, D.C., allows the customer access to companies that are at least 51% African-American owned and employed. […]

Whites Six Times Wealthier than Blacks

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WASHINGTON – Whites had an average wealth of $632,000 in 2010 while Blacks had about $98,000 and Hispanics had $110,000, according to a recent study by the Urban Institute. “Such great wealth disparities help explain why many middle-income blacks and Hispanics haven’t seen much improvement in their relative economic status and, in fact, are at […]

‘Buying Power of Black America’ Report Probes Spending Shifts


NATIONWIDE – According to the data found in a new report, “The Buying Power of Black America,” Black consumers have shifted their priorities and preferences. With the nation slowly recovering from recession, businesses need to develop strategies for regaining and increasing their share in the Black American economy. Black consumers now represent the margin of […]

Blacks Less Prepared for the Next Financial Crisis

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WASHINGTON – Minorities clinging to the middle class have come out of the Great Recession at a higher risk for falling into poverty during the next economic crisis, according to a recent report by the Center for American Progress, a nonpartisan think tank in Washington, D.C. The report titled, “Making Sure Money Is Available When […]

JIM CLINGMAN: Time to Embrace Blackopoliticonomics

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OPINION – As George Benson sang in Moody’s Mood, “There I go, there I go, there I go…” making up words again. I couldn’t resist this one in light of our penchant to choose sides when it comes to economics versus politics. It seems we cannot understand, nor act upon, the fact that by combining […]

Local Women Fill ‘Plates’ With Self-Sufficiency


SACRAMENTO – With two jobs and five kids, local mother Ebony Price has a lot on her plate. Fortunately, she seems to have found the recipe for success and self-sufficiency. Ms. Price, 29, is a graduate of the Plates Employment Training Program. Through the program, formerly homeless mothers who have stayed at the St. John’s […]