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Today's Report: Immigrant Banking

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More than half of Mexican - and over a third of Ecuadorean - immigrants in NYC do not have a bank account, according to this study by the Department of Consumer Affairs and the Mayor's Office of Immigrant Affairs. But 80 percent of immigrant survey participants who make less than $300 a week report having savings. To address these gaps, the city plans to offer specially designed direct deposit bank accounts and free, one-on-one financial counseling, along with low-cost tax preparation.

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