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Mon Mar 16, 2015
For the second time in one year, IAF organizations (EPISO and Border Interfaith) dealt a harsh blow to the bottom line of payday lenders in El Paso, Texas.
During last year’s fight to restrict how much payday lenders can legally make off the backs of lower-income families, opponents from the lending industry couched their financial predation under the guise of “providing a valuable service” to residents. After winning a significant victory in 2014 limiting payday lending profits, leaders wanted more.
In financial literacy civic academies held in the poorest neighborhoods of El Paso, families revealed that when a tire blew, or a child got sick, they needed fast cash. They had the capacity to repay small loans, but were shut out of traditional consumer credit markets due to lack of income or credit…(more here)
Thu Aug 11, 2011
Southweast Wisconsin Common Ground successfully negotiated over $4 million in housing re-investment from financial institutions whose foreclosures had devastated the Sherman Park neighborhood of Milwaukee.
Thu Aug 11, 2011
Pastor Soliney Vedrine and Winique Green look on as testimony is given about the Greater Boston Interfaith Organization's Moving from Debt to Asset's program. This groundbreaking financial empowerment program has graduated more than 700 graduates and provided each of them with $500 scholarships to begin a financial savings plan.
In the News
Respect the Cap, Organizing in England, Financial Reform, Interest Rates, Payday Lending
Citizens UK Calls on (Payday) Lenders to 'Respect the Cap'
Friday, January 2, 2015
Campaigners will today mark a new cap on payday loans by calling on the Government to set up a community finance fund. New rules from the Financial Conduct Authority will require lenders to cap their interest rates at 0.8% a day, charge no more than £15 for a default, and never charge a customer more than twice the amount they originally borrowed. Wonga, the UK's biggest payday lender, has responded by imposing a cap on the cost of its short-term loans."
Texas IAF, Community Organizing in Texas, Payday Lending, Statewide Reform, Arturo Aguila
Border Interfaith & EPISO Set Sights on Texas Payday Lending Reform
Tuesday, August 26, 2014
With the victory of limiting the profitability of payday lending in El Paso, congregational leaders of Border Interfaith and El Paso are turning their attention to statewide payday lending reform...
CFPB, Together Louisiana, Community Organizing in Louisiana, Louisiana IAF, Payday Lending Reform
Together Louisiana Takes Payday Fight to Consumer Finance Protection Bureau
Friday, June 13, 2014
After the Louisiana legislature failed to pass payday lending reform this year, leaders of Together Louisiana took their policy recommendations to the Consumer Finance Protection Bureau. Leaders proposed legislation that would:
- Prohibit payday lending to those who have been in debt for more than 90 days out of the previous year;
- Require that payday lenders refrain from lending more than borrowers can afford to repay;
- Require reporting on payday loan transactions for greater transparency...
Payday Lending, Community Organizing in Louisiana, Louisiana IAF, Perry Perkins
Together Louisiana Throws the Good Book at Senators
The Advocate & NBC News
Thursday, April 24, 2014
The day of the Louisiana legislative vote on a bill that would reform payday in the state, clergy and lay leaders of 'Together Louisiana' gathered to distribute Bibles with passages marked from scripture detailing admonitions against oppressive lending...
Payday Lending, Community Organizing in Louisiana, Together Louisiana, Perry Perkins
'Together Louisiana' Continues Push for Payday Lending Legislation
Shreveport Times & The Advocate
Sunday, April 20, 2014
‘We are not asking that the payday industry be outlawed,’ Interfaith members stated in a news release. ‘Banks and credit unions have a cap on the number of loans one person can receive. We do not think it unreasonable that the payday industry should adhere to the same rules.’
Payday Lending Reform, Together Baton Rouge, Jeremiah Group, Community Organizing in Louisiana, Louisiana IAF
'Together Louisiana' Moves Legislative Bill on Payday Lending
Wednesday, April 2, 2014
With the press calling it “the sleeper issue of the session,” leaders from ‘Together Louisiana,’ stormed the Capitol to testify in Committee hearings and weigh in on debate over payday lending in Louisiana...
Community Organizing in Louisiana, Payday Lending, Predatory Lending, Louisiana IAF
Legislators Join 100 'Together Louisiana' Leaders on Capitol Steps
Times Picayune Plus Others
Tuesday, March 25, 2014
Louisiana state legislators joined 100 'Together Louisiana' leaders on the front steps of the Capitol in a rally against predatory payday lending practices and a cry for regulations that would curb the worst habits of the industry....
Payday Lending Reform, Community Organizing in Louisiana, Predatory Lending, Thelma Fleming
Together Louisiana Takes Payday Lending Fight to the Capitol
Monday, March 24, 2014
First, Thelma Fleming lost one of her two jobs. Later, she had to pawn some of the gifts her children had given her. Eventually, the bank closed her account, and she had to give up her car.
Fleming’s troubles can be traced back to the $300 loan she took out from a payday lender two years ago after the detox center where she worked closed its doors.
Payday Lending, Bankruptcy, Finance, Together Louisiana, Rev. Errol Domingue
Payday Lending Dominates Louisiana Black Leg Caucus Mtg
Wednesday, February 26, 2014
At a town hall on Saturday, February 22nd, Rev. Errol Domingue directly asked leaders from the Louisiana Legislative Black Caucus: Have you ever taken money from the payday lending industry? Will you continue to take their money in the future?
Pay Day Lending, Credit, Citizens UK, Living Wage Campaign, economic justice
Acting Together for Economic Justice
Tuesday, November 26, 2013
Today's decision to cap the cost of payday loans did not emerge in a vacuum. It is the fruit of years of determined campaigning, which started in churches, mosques and synagogues in some of Britain's poorest neighbourhoods. Indeed, George Osborne's announcement comes exactly four years after 2000 members of the religious and civic institutions in Citizens UK asked all three parties' Treasury spokesmen to adopt precisely this policy.
Financial Reform, Community Building, organizing in Texas, Organizing in Austin, living wages, Economic Incentives
Austin Interfaith Celebrates Progress on Living Wages
Wednesday, December 12, 2012
A diverse mix of Labor Union representatives, city and county elected officials, faith-based organizations and advocates for fair wages and working conditions came to the Workers Defense Project office Tuesday night…to celebrate a move by the county regarding tax incentives, a move many are hoping the city of Austin will follow.
Financial Reform, Housing
Eric Schneiderman is right to fight Obama administration's bad foreclosure settlement with the banks
New York Daily News
Sunday, November 27, 2011
While most attention is focused on a drawn-out debt crisis in Washington and spasmodic demonstrations in several cities, the most important economic and political battle of the period is being played out largely under the radar.