×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: nyc | prepaid debit cards | immigration

NYC Council Criticizes Migrant Prepaid Debit Card Plan

By    |   Friday, 23 February 2024 10:15 AM EST

Several members of the New York City Council this week raised concerns about the city's plans to provide prepaid debit cards to migrants, the New York Post reported.

The city awarded a $53 million no-bid contract to the tech finance startup Mobility Capital Finance to provide prepaid debit cards to recent arrivals, a deal that the Post reports could earn the company almost $2 million in profits if the pilot program is expanded in its second phase, as is planned.

"I certainly have never seen this," Councilmember Gale Brewer, a Democrat from Manhattan, said after being presented with details of the plan by the Post.

"I can't believe they wouldn't have gotten a better price," she said, referring to city hall, and noting that the council was informed "that everything would be going out for bid in the future."

"Something's wrong with this deal, and taxpayers are getting fleeced," Councilman Bob Holden, a Democrat from Queens, said on Thursday after reviewing details of the contract. "These no-bid emergency contracts and profit-driven bids are out of control, and we need to reevaluate how we do business as a city."

"A vig [vigorish] of this size on top of fees, due diligence must be done," former city Comptroller Scott Stringer told the newspaper. "The reason we have a competitive [request for proposals] is it produces competitive contracts. The RFP [request for proposal] process is simply best practice."

Theodore Bunker

Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.

© 2024 Newsmax. All rights reserved.


Politics
Several members of the New York City Council this week raised concerns about the city's plans to provide prepaid debit cards to migrants, The New York Post reports.
nyc, prepaid debit cards, immigration
235
2024-15-23
Friday, 23 February 2024 10:15 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved