THURSDAY, MARCH 23
PROGRAM # 9954 12:00 PM PT
Banking Worries.
The US banking system is being rocked by the collapse of the Silicon Valley Bank. Can we trust the banks? Are our deposits safe? A financial analyst gives a report and examines regulations to protect consumers.
Public Banking. California has one of the highest concentrations of unbanked families in the nation and the most impacted are people of color and low-income families, who pay high fees to access their cash. In response, the state Legislature passed a law in 2021 creating a commission to explore a public banking option called CalAccount. It would offer free checking, overdraft protection, ATM cards and savings accounts and other services to people who are underserved by banks. Its report is due next year.
Photo: Mariia Shalabaieva via Unsplash
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