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Manriquez: Why San Jose needs campaign finance reform – San José Spotlight

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Manriquez: Why San Jose needs campaign finance reform – San José Spotlight

In the heart of Silicon Valley, where progress and innovation are watchwords, San Jose’s democracy faces a crisis of representation.

The 2022 election, the most expensive in our city’s history, revealed a troubling truth: the voices of everyday San Jose residents are being drowned out by big money in politics, a trend that continues in the current election cycle.

As community leaders have invested in our city’s future, we’ve witnessed how the current campaign finance system undermines our democracy. A MapLight report on San Jose’s 2022 election shows campaign contributions more than tripled since 2018, reaching $7 million. A staggering 81% of all funds came from high-dollar contributors giving $500 or more. Nearly half of the money came from non-residents, diluting local voices.

These numbers reflect a system where the concerns of working families, immigrants and young residents are drowned out by wealthy donors and special interests. In San Jose, large corporations and developers have repeatedly used their influence to shape local politics. For example, large corporations and developers regularly sway elections to shape the city for their own gain. These cases show how our system lets money dominate decisions about our future — but it doesn’t have to be this way.

Organizations like the League of Women Voters have long led the fight against the outsized influence of money in politics, and grassroots groups like LUNA are mobilizing underrepresented communities to be more civically engaged. These efforts are especially crucial in cities like San Jose, where corporate-funded super PACs and a small number of wealthy individuals drown out local voices. But to truly ensure that everyone’s voice is heard, we can do more.

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Cities across the country, from Seattle to San Francisco, are embracing innovative solutions to create a more equitable political landscape. Seattle’s Democracy Voucher program provides city residents with four vouchers, each worth $25, that can be pledged to eligible candidates running for municipal offices.

This program amplifies the voices of everyday people and encourages a wider range of candidates to run for office. Just look at Seattle, where they’ve had this program since 2015 and seen real changes. In Seattle’s 2023 City Council elections, about 30,000 voters used democracy vouchers, injecting nearly $2.4 million in public money into candidates’ campaigns, fundamentally changing how local campaigns are run and investing public resources back into the community. Instead of courting wealthy donors, candidates focused on going door-to-door and engaging directly with constituents.

The benefits of such a program are clear and backed by research from the University of Washington. First, increased civic engagement occurs when people have a stake in the election process, leading to higher voter turnout and a more engaged citizenry. Second, reducing barriers to running for office ensures our elected officials reflect the rich diversity of our community. Seattle has seen an increase in the number of candidates choosing to run. Third, accountability improves when candidates rely on a broad base of small donors rather than a handful of wealthy contributors, making them more responsive to all constituents. Finally, a public financing system enhances transparency by illuminating campaign funding and helping voters understand who backs each candidate.

Critics may argue that such a program is too costly. But we must ask ourselves: what is the cost of a democracy where only the wealthy have a meaningful say?

The long-term benefits of a more responsive, representative government far outweigh the initial investment. As community leaders and members of the Fair Elections San Jose Coalition, we envision a future where every community member has an equal voice, regardless of income or ability to contribute.

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The path to a more equitable democracy starts here, in our neighborhoods. It’s time for San Jose to lead the way in implementing a comprehensive package of campaign finance reforms, centered around a voucher program. By championing these reforms, we can reduce the influence of big money in our city and strengthen the voices of all San Jose residents in local government.

Let’s give democracy back to the people of San Jose.

Gabriel Manriquez is a community organizer with LUNA-San Jose.

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Mis-Sold Car Finance Explained: What UK Drivers Should Know

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Mis-Sold Car Finance Explained: What UK Drivers Should Know
Car finance is now one of the most popular ways in which drivers purchase their vehicles in the UK. RICHMOND PARK, BOURNEMOUTH / ACCESS Newswire / January 5, 2026 / In particular, Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements …
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Solaris Names Steffen Jentsch to Lead Embedded Finance Platform | PYMNTS.com

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Solaris Names Steffen Jentsch to Lead Embedded Finance Platform | PYMNTS.com

Carsten Höltkemeyer, the firm’s CEO, stepped down at the end of 2025, the company said in its announcement last week. Steffen Jentsch, chief information officer and chief process officer for FinTech flatexDEGIRO AG, will take his place.

“Jentsch brings a proven track record in scaling digital financial platforms, along with deep expertise in regulatory transformation and digital banking solutions,” the announcement said.

Höltkemeyer is set to stay on in an advisory role. The announcement adds that Ansgar Finken, chief risk officer and head of its finance and technology area, is also stepping down, but will remain on in an advisory capacity.

Finken will be succeeded by Matthias Heinrich, former chief risk officer and member of flatexDEGIRO Bank AG’s executive board.

“I’m truly excited to join Solaris and lead the next chapter — one defined by durable growth built on regulatory strength and commercial execution,” Jentsch said.

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“Digital B2B2C platforms thrive when cutting-edge technology, cloud-native infrastructure, and strong compliance frameworks work seamlessly together. Solaris has been a first mover in embedded finance and has helped shape the market across Europe.”

The release notes that the leadership change follows SBI’s acquisition of a majority stake in Solaris as part of the 140 million euro ($164 million) Series G funding round last February.

The news follows a year in which embedded finance “moved from consumer convenience to business as usual,” as PYMNTS wrote last week.

During 2025, embedded payments, lending and B2B finance all demonstrated clear signs of maturity — especially when tied to specific verticals and workflows instead of being deployed as generic platforms. The most successful implementations were almost invisible, woven directly into the systems where users already worked, the report added.

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“The embedded finance revolution that transformed consumer payments is now reshaping B2 commerce — with far greater stakes,” Sandy Weil, chief revenue officer at Galileo, said in an interview with PYMNTS.

“In 2025, businesses are embedding working capital, virtual cards and automated workflows directly into their platforms, turning financial operations into growth engines.”

It was a year in which “buy, don’t build” became the overriding philosophy, the report added. Research by PYMNTS Intelligence in conjunction with Galileo and WEX spotlighted the way institutions prioritized speed and specialization over ownership, “outsourcing embedded capabilities rather than developing them internally.”

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