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Will NYC allocate additional funds exceeding $1 million to the MoCaFi migrant debit card program by the end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official budget allocation records from New York City government
Story
NYC Expands MoCaFi No-Bid Migrant Debit Card Program Amid Cost Concerns
Jul 7, 2024, 02:22 PM
New York City is expanding its pre-paid debit card program for migrants, allocating millions of dollars to support the initiative. The program, which involves a no-bid contract with MoCaFi inked in January, has faced criticism for its high administrative costs. In the first half of the one-year contract, NYC taxpayers paid or owe MoCaFi $211,000 for $648,000 in payouts to migrants, resulting in a 33% fee rate. Through late June, the program has racked up about $850,000 in costs, with the city considering extending the contract to reduce these fees. Critics argue that the program's design has led to excessive costs, benefiting the vendor more than the migrants.
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Similar markets
Program expanded further • 25%
Program remains the same • 25%
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Program terminated • 25%
Less than 10,000 • 25%
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Less than $1 million • 25%
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