By Rob Chrisman
Posted To: Pipeline Press
According to the U.S. Census Bureau, 21.3 percent of the American population (52.2 million people) participated in government assistance programs each month in 2012. The participation rates were highest for Medicaid at 15% followed by the Supplemental Nutrition Assistance Program (food stamp program) at 13%. Children under the age of 18 were more likely to receive means-tested benefits than any other cohort. A means-tested benefit is a determination of whether an individual or family is eligible for government assistance. African Americans were more likely to receive government assistance at 42%, followed by Hispanics (36%), Asians or Pacific Islanders (18%) and non-Hispanic whites (13%). On the subject of CFPB Director Richard Cordray overruling a judge, and the CFPB’s proposed fine of PHH…(read more)
Via:: CFPB Fines Lender for Paying Branch Managers on Interest Rates; Hedging Philosophy