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A high-cost predatory loan is only made worse when the loan is larger and longer. But while residents in some states are gaining protections from these larger, longer-term products, Hoosiers are now paying more than before the COVID-19 crisis, according to a new report from the National Consumer Law Center. This report builds on NCLC’s extensive work on predatory lending.

As a result of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, consumers started to see some financial relief through Economic Impact Payments (EIP) issued by the Internal Revenue Service (IRS). However, millions of individuals who do not normally file income taxes are entitled to EIP. These individuals have until October 15, 2020 to enter their information in the IRS Non-Filers Tool to receive their payment.

The Consumer Financial Protection Bureau (CFPB) just released the guide Helping Consumers Claim the Economic Impact Payment: A guide for intermediary organizations.

There’s a lot going on right now. With COVID-19 cases rising even as schools attempt to reopen and Congress negotiates its next COVID-19 package, trying to keep up with the deluge of policy news feels like drinking from a firehose.

Perhaps it is no coincidence that financial regulators have chosen this moment to pave the way for predatory lenders to operate freely throughout the country. In late July, the Office of the Comptroller of the Currency (OCC) proposed a new rule that would allow predatory lenders to partner with banks to evade state interest rate limits.

This week, the Indiana Assets and Opportunity Network and other Indiana-based organizations will participate in the Stop The Debt Trap Coalition's national Week of Action to urge Congress to step up on behalf of consumers facing hardship during the ongoing coronavirus pandemic. Advocates across the country are calling on elected leaders to pass a much needed COVID-19 relief bill that includes a ban on debt collection, caps interest rates at 36% to stop predatory lending, and halts negative credit reporting.

The St. Louis Federal Reserve Bank’s Center for Household Financial Stability studied the relationships between wealth and various demographics characteristics, including race and ethnicity, education level, and age.

On November 5, 2019, Matt Hull, Executive Director of the Texas Association of CDCs, and A&O Steering Committee Member Marie Morse, Executive Director of Homestead Consulting Services, hosted a joint webinar focused on exploring alternatives to payday lending.

Over the course of the hour-long webinar, Matt and Marie discussed the payday lending debt trap many vulnerable consumers fall victim to, as well as what your organization can do to bring an alternative — the Community Loan Center — to your community.

According to data collected by USA Today from RedFin, median-income black families could only afford 25 percent of U.S. homes for sale in 2018, down from 39 percent of homes on the market being within reach in 2012.

The Asset Funders Network’s new report, “When A Job Is Not Enough: Employee Financial Wellness and the Role of Philanthropy,” delves into the financial hardships and stresses experienced by workers across the nation.

As part of its ongoing series about building an inclusive, thriving workforce, the Indiana Institute for Working Families released a policy brief focused on equity-focused career counseling. While established barriers standing in the way of marginalized communities have been dismantled, the brief highlights the forms of occupational segregation that still exist.

It seems like every month has a different designation to raise awareness: for example, September is recognized as Cholesterol Education Month, International Square Dancing Month, National Cheese Month, and National Head Lice Prevention Month, to name a few. However, one awareness "month" near and dear to my heart doesn't span the course of a traditional month, choosing instead to extend from September 15 through October 15: Latinx Heritage Month.

With the name "Logan Charlesworth," I'm typically mistaken for an older Caucasian male rather than recognized as a 20-something half-white, half-Latinx woman.

According to the US Census Bureau, poverty rates across the nation declined, finally falling below the pre-recession rates achieved in 2007. Furthermore, the median income for full-time, year-round workers rose by three percent. However, these positive gains were not experienced by all Americans.

September is Workforce Development Month. I recall my first visit to the local office of Massachusetts Employment Security in 1970.  I was greeted by a pleasant man in a bow tie who riffled through a stack of index cards as he talked to me, trying to find suitable job matches for a college kid whose only work experience had been newspaper delivery and sweeping floors in high school. Several places turned me down, but my counselor was very encouraging and with his help I finally found a summer job. I will always be grateful to that kind and patient public servant whose name I do not remember but whose efforts helped me to earn the money I needed to finish school. 

According to a new study published by researchers from the Brookings Institution, Harvard’s Kennedy School of Government, and Johns Hopkins University, Millennials are at a distinct disadvantage when it comes to retirement savings.