Biz News Briefs

Keke Palmer is set two birth two babies this year. One, is her firstborn child due this spring. The other is her latest business venture, KeyTV. The new digital platform has been described as a streaming television network that showcases young creatives who might not have otherwise had an entry point into the industry, in addition to providing training tools for those creatives on how to get their projects off the ground.

“I told you we’re hitting the gas this year!!” she recently posted on Instagram. “So excited to unlock the door to the @keytvnetwork content universe with a look at some of our latest and upcoming series for the season! You may recognize a few shows — and if you don’t, this is your sign to go on and head to our YouTube & Face-

GERALD BELL Contributor

And now, cryptocurrency scammers have found a way to take advantage of vulnerable people living in underserved conditions.

Lemuel Daniels, VP and Financial Advisor at Morgan Stanley in Los Angeles has kept his clients away from cryptocurrencies. He admits to never having faith in the electronic market because no one could point to who was backing or insuring digital currency.

“The banking industry didn’t understand it at first,” says Daniels. “When they got into it, then it became a problem because cryptocurrency is not regulated.” Daniels advises new or low risk investors to put their money in dividend paying stocks with companies you either patronize or trust.

“Before you ever take a dime out of your pocket, you do your homework on it," says Damon John, founder of FUBU and costar of Shark Tank. "If you want to get into [the crypto] space, don't let other people tell you what the space is.”

If only John’s advice had reached Long Beach resident, Steve R. Harvey before he and some of his buddies put their hard-earned cash in bitcoin. “When I say we lost, we all lost big,” laments Harvey, 45, who makes a living as a touring and studio musician. “I learned the hard way…I jumped in because I had at least 10 to 15 friends who saw how it was trending. We made a little bit of money in the beginning. But in the end, everybody lost at least a couple thousand dollars.”

Financial experts advise that Bitcoin is a good savings technology when utilized from a long-term point of view. Meaning the average investor should not expect to get rich quick. “I think it’s a wealthy man’s game,” asserts Harvey. “When bitcoin loses millions and billions, [the rich] still have money and you and I are the ones at a loss.” book to catch up now. Then, make sure to turn into all of our new series premiering this year. From unscripted & scripted shows, to short films, sitcoms, and playlists, we’re keeping y’all entertained all year long, so keep it on KeyTV!”

At press time, some surviving cryptocurrencies had reportedly begun to crawl out from under the nosedive they suffered in the last half of 2022. Still, analysts are insisting it’s way too early to reassume any level of confidence in crypto’s historically high volatility.

In 2021, Damar Hamlin signed a 4-year contract with the Buffalo Bills for $3.6 million with an average annual salary of $910,119, but the contract contained a standard split clause, which meant the Bills could pay him at a lower rate if he were to land on the Injured Reserve (IR) list.

After the cardiac arrest he suffered on the field last month, Hamlin was put on IR, but the team has worked out a deal that will pay him the full amount.

But thanks to the generosity of fans, viewers and folks around the globe, the goodwill did not start there. In fact, the nonprofit Hamlin started in 2020 (Chasing M’s) to raise money for a toy drive with the goal of raising $2500, has–at last count–topped $9 million. Before the incident, the foundation had only raised $2900.

The foundation supports toy drives, kid’s camps, “Damar's community initiatives and his current fight”.

Chasing M’s (the “M” standing for millions) was not only the name of his foundation, but the name of a clothing brand Hamlin formed in 2017. Featured apparel included tracksuits, hoodies and t-shirts, all of which sold out following the Hamlin’s heart-stopping collapse, but have since been restocked.

In response to the outpouring of support, Hamlin's family announced the formal creation of “The Chasing M’s Foundation Charitable Fund. Established in partnership with The Giving Back Fund– an industryleading organization focused on philanthropic compliance and best practices–it will "facilitate the receipt, processing, and allocation of donations toDamar’s philanthropic programs as a 501(c)(3) verified nonprofit organization.

"When you put real love out into world it comes back to you 3x's as much," Hamlin wrote in a statement. "The love has been overwhelming. I'm thankful for every single person that prayed for me and reached out. We (brought) the world back together behind this. If you know me, you know this only gonna make me stronger. On a long road, keep praying for me!"

City National to Pay $31 Million to Impacted L.A. County Communities of Color

After finding that City National Bank (City National) engaged in a pattern or practice of lending discrimination by “redlining” in Los Angeles County, the Justice Department is ordering the bank to $31 million in relief to those impacted individuals and communities. The agreement represents the largest redlining settlement in its history.

“This settlement embodies Dr. Martin Luther King Jr.’s commitment to fighting economic injustice and ensuring that Black Americans and all communities of color are able to access the American dream and freely access the credit needed to purchase a home,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division. “This settlement should send a strong message to the financial industry that we expect lenders to serve all members of the com- munity and that they will be held accountable when they fail to do so.”

The complaint alleges that from 2017 through 2020, City National avoided providing mortgage lending services to majority-Black and Hispanic neighborhoods in L.A. County and discouraged residents in these neighborhoods from obtaining mortgage loans.

As part of the settlement, City National Bank has agreed to Invest at least $29.5 million in a loan subsidy fund for residents of majority-Black and Hispanic neighborhoods in L.A. County; at least $500,000 for advertising and outreach targeted toward the residents of these neighborhoods; at least $500,000 for a consumer financial education program to increase access to credit for residents; and at least $750,000 for the development of community partnerships to provide services that increase access to mortgage credit.

The bank will also open one new branch in a majority-Black and Hispanic neighborhood and evaluate future opportunities for expansion within Los Angeles County and has agreed to conduct a researchbased market study, to help identify the needs for financial services for majority-Black and Hispanic census tracts in L.A. County.