Department Of Education Has Let Colleges Off From Paying More Than $1 Billion Owed To Taxpayers
A report by a nonprofit advocacy group shows the federal government has failed to collect more than $1 billion in fines and other money owed by colleges.
The NSLDN, which was founded by former Education Department officials, say the agency has failed to use its entire war chest from owners and colleges while at the same time requiring students to pay off their debts.
“The Department of Education continues to spend time and money opposing struggling student borrowers while doing nothing to collect more than $1 billion owed to the government by colleges and for-profit companies,” National Student Legal Defense Network vice president and chief counsel Dan Zibel told CNN.
There are a wide range of reasons colleges owe the fines and penalties, including misconduct and loan discharges resulting from a college’s closure, or from making false statements regarding job placement after a student finishes.
These colleges can also be cut off from federal funding as a result of the fines, however the NSLDN found more than 200 colleges that owe money to the Education Department received money during the 2019-2020 school year.
Democrats have been pressuring President Joe Biden to find a way to cancel student loan debt for Americans. Senator Elizabeth Warren (D-MA) and Senate Majority Leader Chuck Schumer (D-NY) have continuously pressed Biden to cancel up to $50,000 in relief for all Americans. Warren and Schumer recently began a second push for Biden to extend the pause on student loan payments until 2022.
Biden hasn’t committed to either ask, but earlier this month the president canceled $1.5 billion in loans for borrowers who attend the now-closed ITT Tech and other for-profit institutions.
For other student loan borrowers, Biden has directed the Education Department to look into the possibility of using an executive order to cancel student loan debt. However, more than two months later, the department and Biden have not commented on the situation.
George Floyd Killer Derek Chauvin Sentenced To More Than 20 Years In Prison
Former Minneapolis police officer Derek Chauvin, who held his knee against George Floyd for almost nine minutes, has been sentenced to 22 and a half years in prison for intentional second degree murder.
Judge Peter Cahill, who has served in Hennepin County for 14 years gave his explanation for the sentencing saying the sentence was based upon Chauvin’s “abuse of a position of trust and authority and also the particular cruelty shown to George Floyd.”
Cahill could’ve sentenced Chauvin to probation, which was requested by his attorney or more than 30 years in prison, which was favored by prosecutors. Additionally, Chauvin is prohibited from carrying firearms, ammunition and explosives for the rest of his life and has to register as a predatory offender.
Cahill gave Chauvin credit for199 days already served.
Multiple members of Floyd’s family gave witness impact statements Friday including his brother Terrence Floyd’s nephew Brandon Williams and Floyd’s daughter Gianna, who said in her statement “I want to play with him, have fun, go on a plane ride,” she said in the video.
“We used to have dinner every single night before we went to bed,” Gianna added. “My daddy always used to help me brush my teeth.”
Chauvin spoke briefly, but only to say “I want to give my condolences to the Floyd family.” Chauvin’s mother, Carolyn Pawlenty also gave a statement.
“I want this court to know that none of these things are true and that my son is a good man,” Pawlenty said. “He has a big heart and he always has put others before his own. The public will never know the loving and caring man he is. But his family does.”
The incident took place last May, police were called to a grocery store after a clerk accused Floyd of using a counterfeit $20 bill to pay for cigarettes. Four officers, J. Alexander Kueng and Thomas Lane Tou Thou and Chauvin responded to the incident.
At some point, Kueng, Lane and Chauvin restrained Floyd while Thou kept the crowd from interfering, while on the ground, Floyd began complaining he was unable to breathe. Floyd became more distressed and began complaining of breathing difficulties and Chauvin’s knee on his neck, and expressing fear of imminent death.
Bystanders began recording what was transpiring and also yelled at Chauvin to get off of Floyd, who began laying motionless before Kueng went to check his pulse and did not find one.
Floyd’s death, along with the death of Breonna Taylor, kicked off national and worldwide protests in support of the Black Lives Matter movement and led to a rise in calls to defund police departments and budgets and adding more money to social issues such as drug prevention and homelessness.
While the crowd around the courthouse wasn’t as large as it was for the verdict, there were still a healthy number of protestors and activists around the courthouse waiting for the sentencing.
New ‘Candyman’ Trailer Arrives; Horror Flick Comes to Theaters This Summer
If you enjoy terror-filled entertainment on the big screen, mark your calendars for August 27, when the Candyman reboot will be released in theaters.
IMDB describes the bone-chilling film as a ‘”spiritual sequel” to the horror classic Candyman (1992) that returns to the now-gentrified Chicago neighborhood where the legend began.”
According to the movie’s official site, the modernized blood-chilling urban legend film is based on the 1992 version, which was penned by Bernard Rose. Additionally, the short story “The Forbidden” by Clive Barker is incorporated into the upcoming version, which is directed by Nia DaCosta.
The original was set in a Chicago housing project that was once “terrorized by a word-of-mouth ghost story about a supernatural killer with a hook for a hand.” The updated version picks up in current times; the projects have been demolished. A visual artist (Anthony McCoy) and a gallery director (Brianna Cartwright) have settled into a luxury condominium in the gentrified area of Cabrini.
An old-timer from the neighborhood (Colman Domingo) encounters Anthony and exposes him to the frightening legacy of Candyman. Instead of leaving good enough alone, Anthony gets sucked into exploring details that will not allow him to turn back, according to the film’s website . David Kern, Aaron L. Gilbert and Jason Cloth are executive producers of the project.
Candyman appears to offer a wild ride with Black characters playing major roles in the horror genre. According to HuffPost, Black actors were cast for major film roles in the horror genre beginning the 1970’s. However, stereotypes such as violence and hyper-sexualization of characters remain prevalent. Candyman, which is produced and co-written by Jordan Peele (Get Out, Us) should continue a new legacy of Black film creation told from a modern perspective.
You may see the new Candyman trailer by clicking this link.
Why Black-led Banks Are Key to Driving Racial Equity
Over the past month, racial equity has been a key part of our national dialogue as we observed the one-year anniversary of George Floyd’s death, the 100-year anniversary of the Tulsa Race Massacre and Juneteenth, the oldest nationally recognized commemoration marking the end of slavery in the United States.
The issue of racial equity also gained fresh momentum earlier this month after lawmakers passed legislation establishing Juneteenth as a federal holiday.
At JPMorgan Chase, our view is that true racial equity will occur in our society when a person’s race is no longer a key determinant in the opportunities that come their way. In examining the unique history of Black Americans, we’ve certainly made significant progress since slavery ended 156 years ago. Black people have reached the highest levels of achievement across virtually every walk of American life— and have been major contributors to the richness and fullness of our society.
But it’s also true that if you’re Black, you’re statistically more likely to face an uphill battle in overcoming the persistent racial disparities that continue to impact virtually every aspect of life in this country, including wealth creation, life expectancy, career success, educational achievement, incarceration and more. This is what systemic inequity looks like, and future generations will face these same challenges unless policymakers and industry-leading corporations like ours take meaningful steps towards driving sustainable change.
The scope of this challenge is vast, and we recognize that rooting out systemic inequities in banking simply won’t happen overnight. Tilting the financial services system towards racial equity, and even individual institutions within it, can be likened to turning around an ocean liner. The vastness of the challenge means that improvements won’t be felt immediately and that it’ll take considerable time to see clear evidence that we’re moving in the right direction.
But that cannot be an excuse for not bringing the full force of our firm to meet this challenge head-on.
In an effort to do our part, last fall JPMorgan Chase announced a $30 billion, five-year commitment to advance racial equity with a focus on Black and Latinx communities. We’re directing this commitment towards improving access to affordable housing and homeownership, capital and mentoring for small business owners, and growing our pipeline of Black talent across all levels—particularly amongst our senior-most positions.
Driving impact through investments in Black-led financial institutions
We’re making significant investments in Black-owned and Black-led financial institutions that provide critical services to underserved communities. Our $30 billion commitment included a $50 million investment in Black and Latinx-led Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CFDIs). With $40 million of that investment already deployed to Louisiana-based Liberty Bank and Trust, North Carolina-based M&F Bank, New York-based Carver Federal Savings Bank and Los Angeles-based Broadway Federal Bank, we’ve increased our total investment to $75 million— which could generate access to as much as $750 million in community lending. We’ll expand our target to include Latinx-led MDIs and announce new investments this summer.
We’re also committing talent to Black-led financial institutions. Through our Advancing Black Pathways (ABP) Fellowship program, which consists of college underclassmen, our students are assigned summer sprint projects in support of Black-owned businesses—including banks. Since the program’s inception in 2019, ABP fellows have helped Black financial institutions to better engage consumers through projects focused on digital marketing, market expansion, talent development and more.
We recognize that MDIs and CDFIs have earned the trust of their communities as a resource that provides access to loans for consumers and small businesses in many Black communities across the country. They’re also a significant provider of mortgages in underserved communities and offer a crucial alternative to high-cost alternative financial offerings like check cashing services, pawn shops and payday lenders which are far too common in communities of color.
At JPMorgan Chase, we recognize that we need to do a better job of ensuring that our branches are reaching underserved populations, and supporting MDIs and CDFIs is another way that we can drive a positive impact by helping communities obtain vital financial services.
Today, there are 142 MDIs in the U.S. with a combined $288 billion in assets, with 20 of these institutions serving Black communities. There are also more than 1,200 CDFIs operating across the country. Overall, the last year has been a good one for Black-led financial institutions, with the National Bankers Association noting that an estimated $150 million has been invested in Black-owned banks since the George Floyd tragedy.
But our investment in MDIs and CDFIs comes as these critical institutions face a variety of challenges— including a lack of sufficient capital, high overhead costs, limited digital capabilities, dated technology and resource constraints. To put the threat of these challenges into perspective, the Milken Institute notes that more than 25% of MDIs have disappeared over the last decade due to consolidation or insolvency.
To help MDIs and CDFIs build capacity and broaden their ability to invest in communities, we launched Empowering Change earlier this year, a unique program that will allow these financial institutions to offer new investment products to customers, boost their technological capabilities and develop new revenues through fund distribution.
The Empowering Change program, which was anchored by a $500 million investment from Google, includes a new Empower money market share class for distribution by MDIs and CDFIs across J.P. Morgan Asset Management’s suite of money market funds. This will enable these Black-led financial institutions to attract investments from institutional clients who are looking to create a positive social impact. We are also donating 12.5% of revenue received from the management fees on Empower share class assets to support development in underserved communities.
Looking ahead, we fully expect that these investments will help drive a more inclusive economic recovery from the pandemic, which hit communities of color much harder than the broader population. If we are to succeed in driving true racial equity and generate sustainable wealth for Black communities over the long term, Black-led MDIs and CDFIs must play a critical role.
By Brian Lamb, JPMorgan Chase’s Global Head of Diversity & Inclusion and Byna Elliott, the firm’s Head of Advancing Black Pathways
Massachusetts Town Creates Fund to Pay Reparations to Black Residents
Amherst, MA, is working to offer financial restitution to their Black residents as an atonement for slavery and discrimination.
On Monday, the Amherst Town Council voted 12-1 in favor of establishing a fund that would pay reparations to Black residents, ABC News reported. Amherst Town Manager Paul Bockelman and other town officials suggested an initial seed investment of more than $200,000 from surplus budget funds to launch the initiative.
Michele Miller, cofounder of Reparations for Amherst, the local advocacy group that pushed for the fund, expressed her excitement for the private fund to help the town’s efforts.
“We look forward to supporting the African Heritage Community to implement a robust and sustainable reparative plan,” Miller said.
Among the disparities, Black Amherst residents face restrictive housing policies that prevent Black families from purchasing homes in affluent parts of town, as noted by Newsweek. Black people also faced job and education discrimination at UMass Amherst. It’s because of race-based setbacks like these why the median income for Amherst’s White families is more than two times that of Black families, with more than half of Black Amherst residents living below the poverty line.
“And your actions will lay the foundation for our community to begin a collaborative healing process,” Miller told 22News.
Those in favor of the fund are asking for complete transparency in how the funds will be allocated.
“In order to support reparations, we need to identify funds that are sustainable, reliable, and consistent over time,” resident Irv Rhodes said.
The announcement is among the latest in a string of initiatives cities nationwide have introduced in an effort to atone for America’s scarred history with slavery, racism, and discrimination. If passed, the Amherst Town Council’s finance committee would use the more than $200,000 as an initial investment for the reparations fund.
Town officials are expecting the fund to run much like an endowment where a professional consultant would manage the investments. The town is said to be considering using profits from marijuana sales’ tax revenues to fund their reparation initiative.
The Recording Academy Names Valeisha Butterfield Jones And Panos A. Panay Co-Presidents
The Recording Academy, the organization that presents the Grammy Awards, has added more “color” to its leadership team, adding Valeisha Butterfield Jones and Panos A. Panay as co-presidents.
The news comes after The Recording Academy recently elevated Chief Operating Officer Branden Chapman and Chief Industry Officer Ruby Marchand as part of a modernized leadership team. With the recent changes, former president Harvey Mason Jr. will now hold the title of CEO.
Per Instagram:
“Our President/CEO, @HarveyMasonjr., has appointed @Valeisha Butterfield Jones and Panos A. Panay (@panosapanay) as Co-Presidents, effective Aug. 16, 2021.
“This new structure is recognition that further progress and building of the organization requires exceptional leaders with different strengths and areas of focus to drive innovation and accountability.
“With the aim of better serving #RecordingAcademy members and the music industry at-large, the team will work directly under Mason, whose title will shift to CEO.”
“The successful evolution of the Recording Academy is dependent on strong and innovative leaders, and I’m thrilled to elevate Valeisha and welcome Panos as co-presidents to help drive the Recording Academy’s continued transformation,” Mason said in a written statement. “Both Valeisha and Panos are incredible leaders who have a proven record of progress, and together with the rest of the team, will continue to push the envelope at the Recording Academy and shape the organization to better serve, protect and celebrate the music community.”
As co-president, Butterfield Jones will still continue to oversee the Recording Academy’s diversity, equity, and inclusion efforts. She will also oversee the efforts with people and culture, membership, awards, advocacy, and related initiatives.
Panay will hold the dual-title of co-president and chief revenue officer and will be responsible for driving business growth across the entire organization to further expand services for its members and the industry.
Travis Scott Collaborates With Dior For Its Spring 2022 Men’s Collection
Travis Scott has been successful in the music game and seems to always win in most of his collaborative efforts.
The 29-year-old entrepreneurial artist has partnered with designer Kim Jones to present Dior’s spring 2022 men’s collection, which is the first time the French fashion house has collaborated with a hip-hop artist. In fact, it’s the first time Dior has partnered with any musician.
Dior announced via its Instagram account that it is presenting the collection on Friday, June 25.
“This unprecedented event represents the first full Dior collection ever created with a musician for the house.”
Back in April, Travis Scott was working to strengthen his philanthropy arm by providing more fully paid scholarships for students of HBCUs.
“When we did the past scholarships, the freshmen couldn’t even go to campus because of the pandemic. They couldn’t even enjoy the campus life, and their parents probably couldn’t go to work. I just wanted to help,” he said. “The connectivity between that and my grandfather, and helping some of these kids who come from the same community I come from, it’s important. Especially some of these kids that go to HBCUs. My sister goes to Howard University, and my brother goes to Prairie View A&M. A lot of people will get a lot of stuff done if the hardship wasn’t on them. So anytime you can come through and take that burden off their back, it’s amazing.”
Megachurch Pastor Guilty of Fraud Had His First Day In Jail; Had Ties With Obama and George W. Bush
A disgraced megachurch pastor who pleaded guilty to defrauding the elderly is a new inmate at a low-security federal prison in Beaumont, Texas.
Kirbyjon H. Caldwell, once a spiritual advisor to presidents Barack Obama and George W. Bush, and he was the senior Windsor Village United Methodist Church, had his first day in the slammer on June 22, ABC Houston reported.
The man of faith, once the head of a 14,000-member megachurch, was sentenced in January and has to serve six years in prison for tricking his investors.
Alongside his financial planner, Gregory Alan Smith, Caldwell was federally indicted of wire fraud, money laundering, and conspiracy to sell more than $3.5 million of illegitimate, pre-revolutionary Chinese bonds.
“This defendant used his status as the pastor of a megachurch to help convince the many victim investors that they were making a legitimate investment but instead he took their hard-earned money from them and used it for his own personal gain,” said Acting U.S. Attorney Van Hook in a January statement.
It is reported that Caldwell has been ordered to repay the amount of money he ripped off, $3,588,500, and he has to pay an additional $125,000 fine, Religious News Service reported.
According to his statement, Caldwell’s servant leadership lead to “980 part-time and full-time jobs were created; 258 acres of land have been developed and more than $168 million in economic value has been added to our community, a historically underserved community. These contributions include 462 homes, a YMCA, nationally known franchise restaurants, health care providers, an independent senior living facility and Women, Infants and Children (WIC) program, to name a few.”
Caldwell is still a preacher, hosting virtual sermons. In June, one sermon he gave talked about Jesus feeding the many people with five loaves of bread and two fishes.
Suspected Gang Member Arrested For NYC Shooting That Narrowly Missed 2 Children
Last week, a gunman opened fire around two children while chasing a man in The Bronx, then fled the scene. The incident was caught on video and launched a manhunt in New York City, which ended Friday morning.
According to The New York Post, suspected gang member, Michael Lopez, 27, for the shooting which took place Thursday, June 17 on Sheridan Avenue near Mt. Eden Parkway. Lopez is accused of opening fire on a 24-year-old man, while narrowly missing a 5-year-old boy and his 13-year-old sister.
Lopez, who was previously in prison, was released in 2017 on an attempted assault conviction and he served two years on parole. He is said to be a member of the “Make It Happen Boyz” street gang and is no stranger to the authorities as he has been arrested five times previously. Lopez been charged with robbery, attempted murder, conspiracy, criminal possession of a weapon, and unlawful disclosure of intimate images, police sources said.
Based on this latest incident, Lopez now faces charges of assault, criminal possession of a weapon, criminal use of a firearm, reckless endangerment, and attempted reckless endangerment.
SHOCKING VIDEO: 2 children nearly caught in crossfire when gunman opens fire on Bronx sidewalk, shooting man multiple times at close range
As previously reported, surveillance video shows the shooting victim running down the sidewalk away from the suspected gunman, Lopez, before bumping into the children. Lying on the ground, the victim stumbles to get up and move. He was struck in the back and both legs, ABC News reported.
The children were inches away from getting shot as they held each other in their arms. The victim is said to have an extensive criminal background and may have used the children as shields.
The gunman fled the scene of the crime, hopping onto a scooter operated by a second individual, according to the New York Police Department. The victim was brought to an area hospital and is now in stable condition, the NYPD said.
Sha’Carri Richardson Thanks Girlfriend After Win For Choosing Vibrant Hair Color
Sha’Carri Richardson is making strides during Pride Month and making sure to thank her girlfriend along the way.
The country’s fastest woman took the time to shout out her girlfriend after qualifying for the Tokyo Olympics. Richardson donned fiery orange hair while dominating the 100-meter women’s sprint at the Olympic track and field trials in Eugene, Ore. on June 19, Advocatereports.
After winning the race with a time of 10.86 seconds, Richardson credited her girlfriend for helping her put her eye-catching look together.
“My girlfriend actually picked my color,” Richardson told USA Today on June 18. “She said it like spoke to her, the fact that it was just so loud and vibrant, and that’s who I am.”
On Juneteenth, she followed her special shoutout by tweeting out a rainbow emoji that sent the Twitter community ablaze.
“This is all we needed to see,” one person said in response. “Dude make a YouTube channel so that everyone can see your lively personality,” added someone esle. “I know you have haters, but deep down they’ll probably become obsessed with you like how they do Lebron. Just my opinion.”
— NBC Olympics & Paralympics (@NBCOlympics) June 20, 2021
Richardson praised her grandmother and supportive family following her big win. She also shared the recent hardships she faced after losing her biological mother the week before.
“My grandmother is my heart. My grandmother is my superwoman,” Richardson said. “Honestly, that was one of my biggest goals in life – to have her see me compete in one of the highest levels, and be successful.”
While she didn’t elaborate on the loss of her mother, Richardson thanked her for bringing her into the world.
“That’s not anything I want to talk about, so I’m not going to get too much into details,” she said. “… But what I will say is I am grateful for her giving me life, bringing me into this world.”
