Truist, Varo join effort to bolster Americans' emergency savings americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
To participate in the program, the companies must agree to launch an effort addressing emergency savings within a year and share anonymized data of results from those efforts with the initiative. In return, they gain access to the expertise BlackRock provides through partners such as Common Cents Lab, Commonwealth and Financial Health Network.
A recent Capitol Hill hearing on retirement security highlighted on key hurdle to increasing long-term savings: People tend to withdraw money from their retirement accounts to pay for short-term emergencies.
A 2018 Federal Reserve report found that 40% of Americans would have difficulty paying for an unexpected $400 expense. A survey released by Bankrate.com in January indicates that those cash reserves still fall short for many people, with only 39% of people able to pay for a $1,000 emergency expense out of savings.
Some people have not recovered from economic losses caused by the pandemic and need help from employers, retirement plan providers and other sources to build a financial cushion.
âEvery Time the Wind Blew,â a documentary on the Vietnam War, is scheduled to be filmed in Falmouth in October.
The film is being co-produced by Susan P. Hunter, who grew up in Scituate and now lives in Nashville, Tennessee; and Wayne Soares, who grew up in Falmouth and now lives in Pittsfield.
Ms. Hunter, the author of the book â77 Letters,â about her motherâs efforts to boost the morale of Vietnam War soldiers through writing letters, said the film is ânot necessarily going to be about the war itself, but rather the experiences that came out of that war.â
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Generation Tackles Global Unemployment With BlackRock, McKinsey & Company, Microsoft Corp. and Verizon
February 11, 2021 GMT
Generation Programme
WASHINGTON, Feb. 11, 2021 /PRNewswire/ Generation, the non-profit global employment organization, has secured $77 million in new funding and $50 million in in-kind resources from BlackRock, McKinsey & Company, Microsoft Corp., and Verizon, to accelerate its work in tackling unemployment across 14 countries around the world. This combined commitment will allow Generation to support people who face systemic barriers to employment particularly young adult and midcareer workers as COVID-19 continues to threaten jobs and global economic growth.