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Medical Debt in California: As Permanent Solutions Take Root, Blacks Remain Hardest Hit [Video]

By Edward Henderson California Black Media  

On June 11, Vice President Kamala Harris and Consumer Financial Protection Bureau Director (CFPB) Rohit Chopra announced that the Biden administration has established a new federal rule that removes medical debt from the credit reports of nearly 15 million Americans. The rule also bans reporting agencies from factoring that debt into credit scores.

“We are making it so that medical debt cannot be used against you when you apply for a car loan, a home loan, or a small-business loan,” said the Vice President.

“Millions of Americans will see an increase in their credit score, on average, of 20 points, which will mean every year an estimated 22,000 more American families will be approved for a mortgage and able to buy a home,” she added.

On June 26, the Los Angeles County Board of Supervisors approved a $5 million pilot program to eliminate up to $500 million in medical debt owed by …

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BMW Manufacturing set to build 6 fully electric models by 2030 [Video]

The excitement inside of BMW Manufacturing's Plant Spartanburg was high as the first vehicles rolled onto the newly expanded assembly line on Thursday morning. WYFF News 4 was given an exclusive look. To watch the story, click on the video above. The nearly $2 billion upfit expanded the assembly hall by more than 50 percent and will allow for the assembly of fully electric, hybrid and internal combustion engines. That diversity is part of BMW's "Technology Openness Approach." WYFF News 4 was also granted an exclusive interview with Oliver Zipse, chair of the Board of Management BMW AG.He said that strategy is all about the quality of the vehicle and the brand."Whether it's highly efficient combustion engines, whether it's plug-in hybrid, or fully electric, or even M models, we make that independent of the drivetrain, and customers have a choice. I think our current model success shows that we don't tell people what to buy, we supply what they want. We manage the complexity behind it, and we will continue that strategy here in Spartanburg," Zipse said. The expansion will enable BMW to build at least six fully electric models by 2030, and the high voltage batteries to fuel those vehicles will be assembled right down the street in Woodruff. Our tour gave us another exclusive peek today inside "Plant Woodruff," which is one year from completion. Zipse visited the plant for the first time since announcing the plan in 2022.He said he's pleased with the progress."We believe first of all in the technology, second that people would like to contribute for local value added and especially in the highly valued and very expensive electric drive train. So that is a big step for us, but also a big step for our customers," Zipse said. It's hard to overstate the economic value of South Carolina's relationship with the BMW Group for the past thirty years. The group has invested more than $14.8 billion and is now completing its seventh expansion. According to the Darla Moore School of Business at USC, the annual overall economic impact of BMW in South Carolina is $26.7 billion.Zipse said South Carolina feels like a second home."Now, 30 years later, we are the largest exporter in value of vehicles from the United States, so we are not only supplying the local market, we supply the world with our vehicles, and because we are investing, we see a grand future here in South Carolina for the world," Zipse said. He points to the company motto as the BMW Group and South Carolina look to the next 30 years, "Building Legacy - Driving Future."

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Bank of Albuquerque outage restored [Video]

Bank of Albuquerque customers can once again use online services. The bank says it experienced a significant outage involving a service provider. It started sometime Wednesday, Jan. 15.The service provider also impacted 26 other banks, according to a spokesperson with BOK Financial. Follow us on social: Facebook | X/Twitter | Instagram | YouTubeLate Thursday night Bank of Albuquerque posted this statement on its website:"Our digital banking platforms are back online after an outage at our service provider. Deposits, payments, and transactions may be delayed or incorrectly reflected but will continue to update as today's transactions are processed. Thank you for your patience as we work through remaining issues. For assistance, please contact ExpressBank."BOK Financial also offered this message to clients regarding to outage:"We understand how frustrated you are and apologize for the significant delay as we wait for the system to come back online. This is a system issue outside of our control but please be assured our team is working diligently with our vendor to get it back online. We know it is stressful to not have access to your account or debit card and sincerely regret the inconvenience it has caused. We will post an update as soon as we have one."Stay updated on the latest news with the KOAT app. You can download it here.