In solidarity: A letter from our executive director
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In solidarity: A letter from our executive director

Dear CEDAM members and supporters, The past week has been a heavy and heartbreaking one. With you I mourn the lives of George Floyd and Breonna Taylor — two Black Americans recently murdered by the police — and all those killed before them. I stand in solidarity with the thousands of protesters who are calling...

Changes to CRA expand opportunities for nonprofits responding to COVID-19
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Changes to CRA expand opportunities for nonprofits responding to COVID-19

By Brian Rakovitis, manager of financial empowerment initiatives On March 19, 2020, the Federal Reserve Board, the FDIC, and the Office of the Comptroller of the Currency released a joint statement on CRA consideration for activities in response to the COVID-19 pandemic. The joint statement details changes to financial institutions when working with customers, expands...

Helping unbanked individuals receive their stimulus payments quickly
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Helping unbanked individuals receive their stimulus payments quickly

Stimulus payments are being issued, but for many unbanked individuals it could mean months of unnecessary delay before receiving their payment.  By Sydney Lipton, junior policy associate and Brian Rakovitis, manager of financial empowerment initiatives The Federal government recently passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act and is disbursing economic impact payments...

Empowering Michigan communities: Immediate and long-term policy responses to COVID-19
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Empowering Michigan communities: Immediate and long-term policy responses to COVID-19

We’ve seen the many ways that the COVID-19 pandemic has affected and altered our daily lives and business as we know it. The crisis is exposing the weaknesses in our social safety net like never before—and financially vulnerable households that were living paycheck-to-paycheck before the pandemic are especially at risk. There are immediate and long-term...

Stimulus checks: Making sure low income households receive an economic impact payment
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Stimulus checks: Making sure low income households receive an economic impact payment

By now you have probably heard that the federal government, as part of their Coronavirus Aid, Relief and Economic Security Act, plans to disburse economic impact payments (sometimes referred to as stimulus checks) to provide financial relief to individuals and families during the COVID-19 pandemic. However, requirements laid out by the federal government to receive...