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Calling for diversity in financial services

See which Bay Area cities offer — or are studying — guaranteed income pilot programs

Visual Stories By Sarah Ravani and Todd Trumbull | April 21, 2021 | Updated: April 21, 2021 10:44 AM Guaranteed income programs have been around for centuries with a mention in Thomas More’s 1516 book “Utopia.” While the various welfare programs sprung up in the 1930s, a backlash was brewing by time the War on Poverty was launched during the 1960’s. Critics argued that increasing welfare encouraged people to reject work. In 1996, President Bill Clinton passed legislation that added work requirements for aid and capped how much aid a person could get. Politicians today say the narrative surrounding welfare must change. Support has recently grown for guaranteed income giving cash payments to those who need it without any strings attached. Former Democratic presidential candidate Andrew Yang introduced a proposal during his candidacy to give $1,000 a month to every U.S. citizen over the age of 18. Now, cities throughout the country are creating their own guaranteed

Northern California banks, credit unions to test Federal Reserve's new system for faster money transfers

Northern California banks, credit unions to test Federal Reserve's new system for faster money transfers
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