Archives: News

Costs of immigration crackdowns

Since Donald Trump became president, the family has been saving for something he said he hopes never comes to pass: detention and possible deportation for immigrating to the country illegally.

by Hannah Knowles

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A toll on immigrants’ pocketbooks

More intense immigration enforcement conducted since President Donald Trump took office is greatly affecting the lives of immigrant families, not just in their homes, but also in workplaces, according to a national press briefing by Ready California and New America Media. MAF’s new Financial Emergency Action Plan for Immigrants offer tips for protecting your home, business, and assets during these difficult times.

by Jun Nucum

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Working undocumented

Immigrants’ fear may have a chilling effect on consumer spending.

“People are not buying homes. They’re not building their business,” said Mohan Kanungo, director of programs and engagement at Mission Asset Fund. “And that certainly has a large impact that I think remains to be seen for us to quantify.”

by Elena Shore

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Bill protecting immigrants advances in CA

Immigrants’ fear may have a chilling effect on consumer spending.

“People are not buying homes. They’re not building their business,” said Mohan Kanungo, director of programs and engagement at Mission Asset Fund. “And that certainly has a large impact that I think remains to be seen for us to quantify.”

by Elena Shore

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Lawmakers protect undocumented workers

Anti-immigrant rhetoric has led to a palpable fear among immigrants, who may now be making decisions based on that fear. It also may have a chilling effect on consumer spending.

“People are not buying homes. They’re not building their business,” said Mohan Kanungo, director of programs and engagement at MAF.

MAF recently released a Financial Emergency Action Plan for Immigrants, which gives families and business owners practical tips about how to protect their assets in uncertain times.

by Elena Shore

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Responding to immigration enforcement

For those in the immigrant community, the numerous reports of raids by enforcement officials may give rise to a greater sense of fear. But those in the immigrant community can take precautionary measures to ensure the safety of their assets and belongings. Mohan Kanungo, director of programs & engagement at Mission Asset Fund, encouraged individuals to become more educated on “how to protect your money, how to protect your belongings, and creating and emergency plan.”

“Immigration related emergencies can have a significant impact on pocketbooks,” said Kanungo.

For instance, Kanungo said, the national average cost of a bail bond is about $10,000. In addition, having legal representation during these bond hearings can average anywhere from $3-5,000. Transfer of guardianship is about $2-4,000, and on top of these already high expenses, individuals involved in this process have other monthly bill payments to consider as well.

by Jessica Lim

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Protecting your assets as an immigrant

In order to make money, one has to spend money. You’ve heard of that saying before. The whole “work hard, play hard” concept. But what happens if your entire family is working hard and don’t see any financial progress? Why is it not working?

If you find yourself (or someone you know) in this situation, or have come to learn what you can do, listen to our interview with Mohan Kanungo of MAF because this episode is for everyone.

by Brunch & Budget

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Why we must not gut consumer protections

Have you ever been an eyewitness to an event and later seen it written about in a way that directly contradicts your experience? As three people who witnessed close-up the Consumer Financial Protection Bureau as it began its work after the worst financial crisis since the Great Depression, we are having that sensation as lawmakers in Congress rationalize their proposed evisceration of the agency.

by Prentiss Cox, José Quiñonez, and William Bynum

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While growing up in California, José Quiñonez and his five siblings came together to overcome the financial challenges that come with not having access to credit as a former undocumented immigrant.

Quiñonez is now using his personal experience to help immigrant and low income communities by turning the Latino tradition of tandas, or community lending circles, into an opportunity for immigrants to develop a credit score through his organization MAF (Mission Asset Fund).

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