Outrage over NYC’s migrant debit card handouts that could net NJ company $1.8M in profits: ‘Taxpayer

[rangerrebew]

Outrage over NYC’s migrant debit card handouts that could net NJ company $1.8M in profits: ‘Taxpayers are getting fleeced’
Story by Craig McCarthy • 12h


The New Jersey start-up that snagged a controversial no-bid $53 million contract with New York City to give migrants prepaid debit cards could net a whopping $1.8 million in profits by taking a cut of the funds doled out to asylum seekers, The Post has learned.

The one-year deal signed by Mayor Eric Adams’ administration and tech finance company Mobility Capital Finance — first reported by The Post last month — is now raising eyebrows with some members of the City Council, who noted the agreement didn’t undergo the usual competitive bidding process.
 
“Something’s wrong with this deal, and taxpayers are getting fleeced,” Councilman Bob Holden (D-Queens) said Thursday when provided with details of the contract.

“These no-bid emergency contracts and profit-driven bids are out of control, and we need to reevaluate how we do business as a city,” he added.

https://www.msn.com/en-us/money/companies/outrage-over-nyc-s-migrant-debit-card-handouts-that-could-net-nj-company-1-8m-in-profits-taxpayers-are-getting-fleeced/ar-BB1iJyH0?ocid=msedgdhp&pc=HCTS&cvid=d349bc03c566476b8b3c9fad54a5d837&ei=16

[Fishrrman]

“Something’s wrong with this deal, and taxpayers are getting fleeced,” Councilman Bob Holden (D-Queens) said Thursday when provided with details of the contract.

Hey, it's New York.

Just about whenever there's "a deal", SOMEONE is going to get fleeced.
Welcome to the party, pal.