Protecting Assets: Developments in Payday Lending Reform and the Role of Faith-Based Organizations
In the next several months, the Consumer Financial Protection Bureau is poised to issue a new national rule aimed at curbing high-cost payday and car title loans across the country. These new rules could preserve billions of dollars for low-income families and borrowers of color. Moreover, they indicate possible directions for future financial reform efforts involving the CFPB.
Faith-based advocacy has played a critical role in local, and now national, campaigns to end payday lending abuses. Funders will learn about recent policy developments, how faith-based organizations have successfully contributed to reform efforts, and what is expected to happen in the coming year. Funders involved in this effort will share learnings and best practices as well as offer ideas for how others can get involved in helping low-income families who are affected by high-cost credit.
Jointly sponsored by the Asset Funders Network, Interfaith Funders Network, and Neighborhood Funders Group.
Moderator: Aimee Durfee, Y&H Soda Foundation
Participants include Debbie Goldstein of Center for Responsible Lending, Molly Fleming-Pierre of PICO National Network and Missouri Faith Voices, and Ned Wight, Director, Unitarian Universalist Veatch Program at Shelter Rock