Olivia Calderon: All Publications, Events and Press

Banking Development District Initiative Advances in Los Angeles

Elizabeth Wu — Fri, 30 Oct 2009 14:22:00 -0400

For Immediate Release

Banking Districts Proposed for Low Income Areas | San Fernando Valley Business Journal

Erin Drankoski — Fri, 30 Oct 2009 11:28:00 -0400

According to the New America Foundation, more than 300,000 Angelenos lack basic checking and savings accounts. "But this is a reality in too many low-income communities throughout Los Angeles and across the state, where banks and credit unions are nonexistent," said Olivia Calderon, California legislative director of the Asset Building Program at the foundation. ... Original Article

Banks for Poor Neighborhoods in Los Angeles | La Opinion

Erin Drankoski — Thu, 29 Oct 2009 12:31:00 -0400

"A bank does not charge horrifying interest rates to customers who need an emergency loan," said Olivia Calderón, Legislative Director of the New America Foundation.

"In poor communities there is a great need and if they continue to lack basic bank accounts it will be increasingly difficult for them to get ahead," said Calderón. ... Original Article

CA EVENT: Updating California's Poverty Measure

Elizabeth Wu — Wed, 21 Oct 2009 11:41:00 -0400

A New America Event
10/14/2009 - 12:00pm

The California Asset Building program hosted a policy roundtable discussion Wednesday October 14 in the State Capitol on updating the antiquated and misleading way we measure poverty. New York City Mayor Michael Bloomberg's Director of Poverty Research, Mark Levitan, led Assembly and Senate staff in the in-depth discussion (view his presentation here). Last year, New York City enacted an updated and improved poverty measure based on recommendations made by the National Academy of Sciences.

California's Budget Plan Passed. Now What?

Elizabeth Wu — Fri, 24 Jul 2009 17:00:00 -0400

This afternoon the state legislature approved a budget to close the $24 billion deficit. The budget included cuts to health care, education, CalWORKS, prisons, and state worker pay.

New America Foundation experts released the following statements:

Steven Hill, Director, Political Reform Program:

CA EVENT: Women & Wealth

Elizabeth Wu — Fri, 17 Jul 2009 04:30:00 -0400

A New America Event
07/17/2009 - 12:00pm

Assemblywoman Lori Saldaña opened the Women and Wealth Asset Policy Forum event, sponsored by the New America Foundation's Asset Building Program in partnership with the California Women's Legislative Caucus, the California Commission on the Status of Women, and the California Women's Agenda.

California Assembly Passes AB 125

Elizabeth Wu — Wed, 03 Jun 2009 17:01:00 -0400

Media Contact
Liz Wu
California Media Relations Manager
510-295-9859
wu@newamerica.net

California Assembly Passes AB 1058

Elizabeth Wu — Wed, 03 Jun 2009 16:23:00 -0400

Media Contact
Liz Wu
California Media Relations Manager
510-295-9859
wu@newamerica.net

Banking districts proposed for LA | Los Angeles Daily News

Cecille Isidro — Sat, 23 May 2009 00:58:00 -0400

Olivia Calderon of the New America Foundation said New York found it successful in overcoming fears by the banks and the community in dealing with banks. "If you didn't grow up with a bank on your corner, it's not part of your everyday experience," ...

New America Foundation Commends LA City Councilman Richard Alarcón's Banking Development District Initiative

Communications — Fri, 22 May 2009 11:49:00 -0400

LOS ANGELES, CA - Los Angeles City Councilman Richard Alarcón today announced the launch of a Banking Development District Initiative in Los Angeles. The act was inspired by New York State's Banking Development District program and uses state and local deposits to encourage banks to open branches in lower-income neighborhoods and develop products and services tailored to local residents.

Banking Development Districts

Asset Building — Thu, 21 May 2009 23:51:00 -0400

To promote local economic development, California policymakers should create Banking Development Districts, a proven way to connect lower-income unbanked Californians with the financial products and services they need to enter the financial mainstream and begin to build savings and assets. It is modeled after New York State's successful Banking Development District program.

For the full text of the issue brief, please see the PDF attached below.

California Employee Savings Program Bill Summary

Asset Building — Fri, 15 May 2009 05:55:00 -0400

The California Employee Savings Program creates a voluntary, universal, portable retirement account for California workers who do not have access to a workplace retirement savings plan. It would give six million California workers and their families an opportunity to have their own workplace retirement savings plans to supplement their basic Social Security benefits. The California Employee Savings Program would also give hundreds of thousands of California small businesses an easy, low-cost, voluntary way to offer a retirement savings plan to their

CA Workforce Mobility and Savings Initiative Bill Summary

Asset Building — Fri, 15 May 2009 05:24:00 -0400

The CA Workforce Mobility and Savings Initiative, reforms the asset limit in the California Work Opportunity and Responsibility to Kids (CalWORKs) program, to encourage low-income families to build the savings they need to permanently exit welfare. The measure repeals the $2,000 asset limit in CalWORKs for current recipients and raises it for new applicants from $2,000 to $7,000 while also eliminating the $4,650 vehicle limit. By reforming the asset limit, this measure restores the stated goal of the CalWORKs program by assisting families in achieving

Asset Building in California

Asset Building — Wed, 06 May 2009 09:59:00 -0400

Overview

The current economic downturn, triggered in part by excessive household debt and deflating housing prices, underscores the central role asset ownership plays in the economic security of California families and the broader economy. Yet, half of all Americans currently have few or no assets, in part due to policies that encourage savings and wealth accumulation that benefit the upper half of earners. The purpose of New America's Asset Building Program, is to significantly broaden savings and assets ownership in America,

CA EVENT: Harnessing Tax-Time $aving (POSTPONED)

Elizabeth Wu — Fri, 24 Apr 2009 01:30:00 -0400

A New America Event
04/24/2009 - 12:00pm

This event has been postponed until further notice. We apologize for any inconvenience.

2009 California Legislative Agenda of the Asset Building Program

Asset Building — Thu, 02 Apr 2009 08:28:00 -0400

In Califonia's current legislative session, the Asset Building Program is advancing a comprehensive legislative package of state policy intiatives to broaden savings and ownership opportunities for Californians.

Watch the video for a quick overview of AB 125 (described below), as this important piece of legislation is once again making its way through the Legislature.

New America Foundation and AARP Praise City of LA's Support of a Portable Retirement Savings Proposal

Elizabeth Wu — Tue, 31 Mar 2009 15:09:00 -0400

Contact: Liz Wu
510-295-9859 (m)
wu@newamerica.net

FOR IMMEDIATE RELEASE -- March 31, 2009

Los Angeles, CA -- Today, Los Angeles City Council unanimously passed a resolution in support of AB 125, state legislation reintroduced by Assemblyman Kevin De Leon (D-Los Angeles) to give California workers access to a low-cost, professionally managed retirement account.

Bank on L.A. | Annenberg TV News

Cecille Isidro — Thu, 26 Mar 2009 12:13:00 -0400

Mayor Antonio Villaraigosa unveiled a new program to help low-income families. Oliva Calderon discusses its benefits. Link to video

New America Foundation Commends Mayor Villaraigosa on Launch of "Bank on LA" Program

Elizabeth Wu — Tue, 24 Mar 2009 12:35:00 -0400

Los Angeles, CA - Today, Mayor Villaraigosa announced he would launch "Bank on LA," an initiative to help working Angelenos without bank accounts open starter accounts and take their first step into the financial mainstream.

CA EVENT: Banking on Opportunity

Elizabeth Wu — Tue, 24 Mar 2009 00:30:00 -0400

A New America Event
03/24/2009 - 11:30am

Too many Angelenos lack a basic financial tool – a bank account. Without one they pay more to cash their paychecks, pay their bills, and don't have a safe place to keep their money. And a bank account is the first step onto the ladder of affordable financial services people need throughout their lives. Without one, it’s harder to build credit and get well-priced car loans and mortgages – the exact financial tools needed to plan ahead and climb… more