Andrew Yang , the front-runner in the race for New York City’s next mayor, announced the creation of the People’s Bank of New York City, which, if he wins, will be responsible for distributing cash payments to some New Yorkers.
Along with its distribution of a basic income , the People’s Bank of New York City is intended to help underserved communities. Yang’s goal is to use the People’s Bank to expand access to bank accounts and help entrepreneurs who may be overlooked at other financial institutions.
“I wake up and I feel privileged that I may have a positive impact […]
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