(Rick Drew) Life isn’t supposed to be easy for prisoners, but should the punishment extend to their families? A new report highlights the ways in which some financial institutions appear to be benefiting from the bad fortunes of others while prisoners’ families fall into debt trying to provide necessities like underwear and toothpaste to their loved ones behind bars. The Center for Public Integrity has released the first in a two-part series investigating how private financial companies have made millions from the families of prisoners. Over a six-month investigation CPI found that prison bankers collected tens of millions of dollars every year from inmates’ families in fees for basic financial services.
Transferring Funds To Prisoners Is Big Business For Some Financial Companies
Ashlee Kieler, The Consumerist
Tue, 09/30/2014 - 10:15am
Topics: rick drew life the center u.s virginia corrections ryan shapiro ceo nic inc maine florida arkansas we when jewel illinois alex friedmann human rights defense center they american correctional association consumer financial protection bureau federal trade commission prison public integrity in public integrity cpi jpay shapiro shapiro friedmann the the funds financial companies families fees company inmates money high services arrangements states charged tells send reports order loved transfers transfer benefit month million advantage sending revenue regulators charging private year bankers millions convention party machines years accounts exorbitant levied state interest profit-sharing receive
BING NEWS:
- Hedge Funds Exposed : Highguard Capital's $3.6 million Ponzi Scheme
In the intricate world of finance, where fortunes are made and lost on the turn of a dime, understanding complex terms like hedge funds and Ponzi schemes is crucial. Recently, the sentencing of ...
04/20/2024 - 3:31 am | View Link - Jill On Money: Financial infidelity can spur positive action
Authors, journalists and filmmakers take what may seem mundane or complicated and bring it to life through engaging storytelling. Each year, I highlight interviews that stuck with me throughout the ...
04/19/2024 - 5:45 pm | View Link - Love or Money: Nearly 20% Confess They Would Marry Solely for Financial Gain
For richer or poorer takes on new meaning in the post-pandemic wedding landscape. 65% of potential mates would never consider a partner with poor finances and high debt, according to the latest ...
04/15/2024 - 5:51 pm | View Link - China Funds Weigh $415,000 Pay Cap in ‘Common Prosperity’ Drive
Several Chinese mutual fund managers have proposed capping staff salaries at about 3 million yuan ($415,000) in response to President Xi Jinping’s “common prosperity” drive, according to people ...
04/12/2024 - 12:09 am | View Link - DBS customers can expect greater peace of mind when transferring funds: CEO
SINGAPORE – DBS Bank customers can look forward to better service and greater peace of mind when transferring funds, following ... total remuneration for the financial year ended Dec 31, 2023 ...
03/29/2024 - 7:46 am | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more