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….
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.
Many important, innovative and effective programs to address these issues have been implemented around the country and have had a positive impact on large numbers of people in the U.S. However, in total, these existing programs, while excellent in so many ways, have not been able to address the changing needs of unbanked people or […]
Service Delivery – Financial Hubs
A Hub would consist of a location bringing together all the needed services to assist low and very low income, unbanked and underbanked households with bad credit (usually about 400 to 600 credit scores). The use of Hubs or financial centers could provide the most complete set of financial and […]
Reader’s Note: This post is the first in a series CDF is writing for the California Council of Churches on various financial services issues. The original version of this post can be viewed on their website: calchurches.org/financial-coaching.html. You may view or download a PDF version of […]
Interested in how Payday loans compare to the other financial issues faced by underbanked populations? You’re in luck! In the following draft PDF, CDF founder Dan Leibsohn shares draft research conclusions from data generated through CDF’s flagship Community Check Cashing nonprofit money services storefront.
Click to view or download via PDF: Payday Loans, Debt […]