NYC begins handing out prepaid debit cards to migrants in controversial program

The Adams administration commenced its initiative to provide prepaid debit cards to migrants in New York City this week, following a controversial no-bid contract worth $53 million with Mobility Capital Finance, a New Jersey-based company.

At a pilot program held at the Roosevelt Hotel on Monday, eight preloaded Mastercards were distributed, with plans to expand to 115 cards by the following week, as confirmed by a spokesperson from City Hall.

The contract drew criticism after it was revealed by The Post that it was awarded without a standard bidding process.

Under the terms of the one-year deal, Mobility Capital Finance stands to earn up to $1.8 million by collecting a percentage of the funds loaded onto each Mastercard, the New York Post reported.

READ MORE: https://nypost.com/2024/03/26/us-news/nyc-begins-handing-out-prepaid-debit-cards-to-migrants-in-controversial-program/

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