Unemployment debit card accounts of tens of thousands of Californians have been hacked and KPIX has learned that Bank of America, which has the exclusive contract to handle the funds for the state Employment Development Department, is facing yet another class-action lawsuit. Kenny Choi reports. (2-6-21)
Program: EDD FraudCategories: Business, Finance, Health & Fitness, Interviews, News, Technology & Computing, Crime, Local News, KPIXTV, Google
Victims of EDD Debit Card Hacking Describe Experiences on the Road to RecoveryUnemployment debit card accounts of tens of thousands of Californians have been hacked and KPIX has learned that Bank of America, which has the exclusive contract to handle the funds for the state Employment Development Department, is facing yet another class-action lawsuit. Kenny Choi reports. (2-6-21)
Brokerages Limit Trading on GameStop Stock, Sparking Protest, LawsuitA Bay Area stock trading app is now facing a class action lawsuit after it limited users from buying shares of GameStop on Thursday. Katie Nielsen reports. (1-28-21)
GameStop Debacle Drives Protest Rally at Silicon Valley Stock Trade ServiceProtesters gathered outside the offices of Robinhood Markets in Menlo Park Thursday following a wild week of small-investor-driven price gyrations in GameStop and other much-shorted stocks. Wilson Walker reports. (1-28-21)
Emails Reveal EDD, Bank Of America At Odds Over How To Resolve Fraud Victims' ClaimsDespite assurances from California's Employment Development Department (EDD) and Bank of America that they are working together to fight fraud, Kenny Choi tells us that emails between EDD and Bank of America obtained by KPIX 5 show the two are not on the same page.
COVID: Future Generations Will Pay For Trillions Of Dollars Of Pandemic Deficit SpendingMillions of $600 COVID stimulus checks could hit bank accounts as early as Tuesday night. So far, lawmakers have approved trillions of dollars for pandemic relief. John Ramos asks economists, 'who pays for all this deficit spending?'
CA Lawmakers Demand Answers After Tens Of Thousands Bilked In EDD Bank Of America Debit Card ScamSince KPIX first exposed a series of massive hacks involving Bank of America EDD debit cards, hundreds of victims have emailed us their stories. Kenny Choi tells us, now state lawmakers are taking notice.
Study Paints Troubling Picture of Bay Area Poverty Before Coronavirus OutbreakA new study on poverty in the Bay Area gives a picture of economic inequality, race disparities and financial insecurity millions face in the region. Devin Fehely reports. (5-17-20)
Reopening Some California Businesses Could Cause Spike In COVID-19 CasesThe coronavirus has killed hundreds of Californians and cratered the state's economy. Allen Martin reports that experts fear that now, with the state reopening some businesses, there could be a spike in new cases.
Planned May 1 Rent Strike Could Be Largest in DecadesKPIX 5's Da Lin reports from the East Bay where many renters are planning to join a nationwide rent strike on Friday. (4-30-20)
SF Launches Recovery Task Force To Help Businesses Hurt By COVID-19 PandemicSan Francisco is launching the Economic Recovery Task Force, to help small businesses who were dealt a devastating blow by the coronavirus pandemic. Wilson Walker talked to one businesswoman who wonders if will be enough.
Money Maven Gives Advice to Nerve-Wracked InvestorsHow should you change your personal finances as the market madness continues? Should you? John Ramos asked a financial adviser his opinion. (3-12-20)
Charles Schwab Financial Planner Weighs In On Stock MarketThere is no shortage of uncertainty in the market with the coronavirus fears and sharp decline in oil prices. Richard Zak, financial planner with Charles Schwab offers advice for the investor. (3/10/20)
Coronavirus Uncertainty Sparks Worse Week On Wall Street In A DecadeThe stock market had it's worst week in more than a decade, plunging more than 3,500 points, due to fears of the financial impact of the coronavirus. Devin Fehely has more on the economic outlook amid this evolving health crisis.
Chase X Essence Presents Currency Converstions To Raise Financial LiteracyJP Morgan Chase's La Sandra Hunt and Kimberly Nash talk to Black Renaissance about the next in a series of Currency Conversations to help woman raise their financial literacy. The series is presented by Chase Bank and Essence Magazine. For more information or to RSVP go to currencyconversations.com.
Man Accidentally Trashes Shoebox Containing His Life SavingsAn Oregon man who accidentally trashed his life savings will soon be reunited with his cash, thanks a worker at a Northern California recycling center.
Facebook Plans To Launch Digital Currency 'Libra' Roils FedsFacebook is courting controversy on Capitol Hill with its plans to launch a digital currency. As Allen Martin tells us, some in Washington are even calling 'Libra' a potential threat to national security.
Housing Calculator Shows Many Bay Area Residents Couldn't Afford Their Own HomesA new tool puts the Bay Area's high housing prices into perspective. Andria Borba tells us it shows most people couldn't afford to buy or rent their own homes if they had to pay at today's prices.
Making Waves College & Alumni Program Teaches Families How To Finance Higher EducationIvette Chavez, Director of Financial Services for Making Waves College and Alumni Program, talks to Bay Area Focus about the challenges of college financing and how CAP is helping educate students and families.
SF Real Estate Tougher To Navigate With Talk Of IPOs Amid Market SlowdownSan Francisco's real estate market is about to get even tougher to navigate. Wilson Walker breaks down the mixed signals buyers and sellers are facing these days.
San Jose Explores Creating Its Own Community BankSome San Jose city councilmembers say the city's current bank, Wells Fargo, and its prospective new bank, Chase, both have ethical and wage violation problems. The city is now exploring creating its own community bank. Len Ramirez reports. (3-19-2019)
Many Couples Say Hiding Money Is Like Infidelity - Or WorseHave you ever lied to your partner about money? A new survey finds millions of Americans do it and such "financial infidelity" can be toxic. Betty Yu reports. (2-14-19)
Menlo Park Luxury Jeweler Is First In World To Accept CryptocurrencyStephen Silver inside the Rosewood Sand Hill Hotel is known for selling rare, ultra-high end jewelry and watches. Betty Yu says it's also the first jewelry store in the world to accept digital money.
Prices Going Up As Unemployment Hits Historic Lows In CaliforniaCalifornia's jobless rate is at it's lowest level in 40 years. The numbers are even better in the Bay Area. But as Devin Fehely reports, not everyone is benefiting form the boon.
IRS Extends Tax Deadline After E-File System CrashesLast-minute tax filers got an eleventh-hour reprieve Tuesday after the IRS web site crashed. Kiet Do reports. (4/17/18)