First Independence Bank is offering 100 checking accounts to Detroiters as part of a broader effort to boost community wealth and address disparities.
Jobs and Economic Opportunities
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Study: Wage gap widens between Black, white workers, especially in Michigan
Both races make less than they did 40 years ago when adjusted for inflation. But wages for Black workers have declined more since the 1970s, in part because of a loss of manufacturing and widening gap in educational opportunities.
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U-M: Detroit’s unemployment rate improves but money woes mount
1 in 5 Detroiters say they are struggling financially as $600 a week in unemployment benefits ends — at least temporarily. This while rental evictions resume.
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TCF announces $1 billion investment in loans for minority-owned businesses
TCF bank expands lending and housing opportunities for low-income people and groups impacted by discrimination in Detroit and other midwestern cities.
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Michigan unemployment system designed to slow payments working all too well
Michigan overhauled its unemployment insurance system nearly a decade ago to save money, root out fraud and make it harder for jobless workers to qualify for benefits. Now, with more than one million workers jobless, the state has flagged 1 in 3 claimants for fraud amid the coronavirus pandemic.
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He took down Michigan’s unemployment system. Now, he’s struggling to fix it.
Four years before Steve Gray took over the Michigan Unemployment Insurance Agency, he exposed a false fraud scandal that rocked state government and prompted reforms. Now, some lawmakers are calling for his ouster as he tries to fix a system crushed by record jobless claims amid the coronavirus pandemic.
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Unemployment fraud tools harming Detroiters lawfully seeking benefits during coronavirus pandemic
The state is overwhelmed by the staggering number of unemployment claims and its system used to determine fraudulent claims from sincere ones is inefficient. Detroiters, who lawfully should have access to these funds, are stuck in financial limbo as bills continue to stack up.