low income

Google is participating in a provision of affordable housing for low-income families. U.S. Bancorp Community Development Corporation (USBCDC), a division of U.S. Bank, announced it will manage an $86 million Low-Income Housing Tax Credit (LIHTC) fund for Google. The fund will be a major source of funding for the construction and operation of 480 affordable rental housing units for low income families and senior citizens in seven communities throughout the West and Midwest, U.S. Bank says.

According to a study released by a Federal Reserve Bank of Boston it is low income customers who pay with cash cover credit card fees for higher-income consumers and thus bring revenues to banks and card issuers. The researchers argue that reducing card rewards and merchant fees "would likely increase consumer welfare."