Every two years, DCWP estimates the unbanked in NYC. The research brief illustrates the updated number of unbanked households in NYC (an estimated 301,700 NYC households), details demographic information about the unbanked population, and highlights systemic barriers to banking access.
The multilingual public awareness campaign plays on the parallels between physical and financial health and encourages New Yorkers to get free, one-on-one financial coaching.
Under the American Rescue Plan Act of 2021, eligible individuals and families will receive a third round of Economic Impact Payments (EIP or stimulus payments) by mail (paper check or prepaid debit card) or by direct deposit to your bank account. No action is required by most eligible recipients.
This report examines who in New York City holds debt, for whom this debt was taken out for, how much they owe, how they are managing their debt, and how their debt affects major life choices, confidence about repayment, and evaluation of their educational decisions.
DCWP released the third in its series of reports on vulnerable student loan borrowers. When compared to higher-income peers, student borrowers from low-income families are less likely to complete their degree or certificates, earn less, often borrow more and repay their loans at lower rates.