There has been a great deal of discussion about the lack of affordable housing, nonprofit office space, homeless housing and artists’ housing in Oakland due to the tragic warehouse fire, the issues associated with SROs and their conversions, the need for broader community development options and programs, the lack of good jobs, problems faced by small businesses, bank closures, and the overall increasing pressures from gentrification including rent and housing sales price increases. These same conditions exist throughout the Bay Area for the most part. Many excellent solutions presently exist and are in operation, and many excellent recommendations have been made. …The need for additional strategies and a more encompassing approach have become clear from several recent events….
Radar
Pay day loans are very controversial. On one hand, payday loans are reviled by many public officials, members of the clergy, policy makers, academics and researchers, analysts, journalists, advocates and others who have created a somewhat relentless attack on this financial service product over the last several years.
Payday loans and associated non-bank financial services are not popular products by the standard definition. Depending on which figures one uses, 3 percent to 5 percent of American consumers view payday lending or associated non-bank financial services like check cashing favorably.
David Dayen, celebrated finance journalist, features Community Check Cashing in a CDFI/CCC-focused article in Salon!
One little storefront in Oakland cannot change the world. Or maybe it can. With enough funding, a non-profit foothold in the small-dollar loan market can ease the burden of perpetual debt on vulnerable communities. And Community Check Cashing’s […]
Originally published at NonProfitPro, written by Tivoni Devor:
The payday loan industry generates $11 billion in revenue. It is also a hated, predatory sector that uses its size to influence legislation in order to keep it alive and growing. It’s an industry that everybody hates, but nobody has a clear answer on how to […]
Via The Guardian on October 1, 2015: We’ve created a world where personal data gets passed back and forth between credit agencies, data brokers, and corporations, and we’re obviously not doing a great job of designing and safeguarding those pathways. A system out of control!
Via Techcrunch on 9/30: SoFi has expanded from Student Loan refinancing to other types of credit, including personal loans and mortgages. It will be interesting to see how the Majors react as these “marketplace” upstarts continue to make noise…
written by Dan Leibsohn
Payday Loans
The issue of payday lending and other high interest installment loans for mostly low income people with poor credit has become a large issue throughout the country recently. The Consumer Financial Protection Bureau (CFPB) has brought this issue into even greater focus recently with the announcement of its […]