[nfbwatlk] Feds Launch Financial Effort Aimed At People With Disabilities, Disability Scoop, June 4 2015

[Mary ellen]

If the money spent on the social workers who run this program were parceled
out to the people with disabilities who are intended to benefit, I'm
guessing most of them would use it to get a bit further ahead so they didn't
have to rely on payday loans and check cashing services.  My guess is that a
one time catch up payment to give people a slight cushion would mean that
many of these problems would take care of themselves.

I once listened to a woman berating her sister for buying single cans rather
than buying in case lots.  "Just look at how much cheaper each can is when
you buy it in a case!"  The sister listened politely and then asked "Where
am I supposed to get the initial cash to pay for the first case?  Once I get
started, I can certainly put money aside to continue, but without the
initial extra cash, buying by case lots is impossible for me."

It's so easy for those of us who can spare the cash to buy a case of tuna to
be critical of the spending habits of others.  Yes, I'm sure there's
learning that's required and that some people make unwise financial
decisions.  I'm also certain that having no financial cushion causes people
to spend money in increments that cost them much more in the long run.



-----Original Message-----
From: nfbwatlk [mailto:nfbwatlk-bounces at nfbnet.org] On Behalf Of
Nightingale, Noel via nfbwatlk
Sent: Tuesday, June 09, 2015 12:33 PM
To: nfbwatlk at nfbnet.org
Cc: Nightingale, Noel
Subject: [nfbwatlk] Feds Launch Financial Effort Aimed At People With
Disabilities, Disability Scoop, June 4 2015


Link:
http://www.disabilityscoop.com/2015/06/04/feds-financial-effort/20356/

Text:
Feds Launch Financial Effort Aimed At People With Disabilities By Michelle
Diament June 4, 2015

Richard Cordray, who heads the federal Consumer Financial Protection Bureau,
said his agency is looking to "empower consumers" with disabilities through
a new initiative launching in six communities. (CFPB/Flickr)

With a first-of-its-kind effort, federal officials are looking to provide
hands-on assistance to help people with disabilities become more financially
independent.

The Consumer Financial Protection Bureau said this week said that it will
launch the ROADS to Financial Independence initiative as a pilot program in
six communities across the nation.

Through local partner agencies, individuals with disabilities who are
currently working or transitioning into the workforce will be offered access
to financial counseling alongside employment, independent living and other
more traditional support services.

"Historically, people with disabilities have been excluded from the economic
mainstream," said Richard Cordray, director of the Consumer Financial
Protection Bureau. "The ROADS to Financial Independence initiative aims to
help provide them with the proper support and services to lead financially
healthy and independent lives."

Research suggests that with high unemployment, many people with disabilities
have no savings for emergencies and they are more likely to rely on
alternative financial services like payday loans and check cashing.

Those participating in the new program will be given an assessment and then
paired with a financial counselor who will help them open a bank account,
create a budget and set and achieve goals. Over five years, officials said
they expect to assist 14,000 individuals with disabilities.

The Consumer Financial Protection Bureau said it will focus on establishing
best practices for helping people with disabilities improve their financial
situation that can be replicated.

The program will be managed by the National Disability Institute and
operated by 19 organizations in six communities - Austin, Texas; Birmingham,
Ala.; the Finger Lakes region in New York; Seattle, Wash.; the state of
Delaware and in the Washington, DC metro area.
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