Wednesday, February 29, 2012
CurrencC SF Wants Direct Deposit
San Francisco Mayor Lee isn't having an especially good week, with nearly simultaneous news of the imploding America's Cup real estate deal and the canceled new headquarters of Salesforce.com in Mission Bay.
In a feel-good photo-op on the Mayor's City Hall balcony Wednesday morning, Lee joined City Treasurer Jose Cisneros (above at the podium) to announce a new nanny state initiative sponsored by the San Francisco Office of Financial Empowerment, a group housed in the Treasurer's office that helps lower-income citizens with financial literacy. The initiative is called CurrenC SF (click here for the website) and its goal is to make 100% of San Francisco's employers pay their employees with direct deposits to banks rather than with checks.
The stated benefits are, "It cuts waste and pollution. It lowers your business costs. It empowers your workers financially, leading to more stability at home and in the community. Add it all up, and we get a stronger City." This might be so, but it's also unintentionally cruel towards older people, particularly women, who are being dragged into the digital world holding their beloved checkbooks tightly in their hands.