Nouvel fl’âme: Whitehouse, Durbin Introduce Expenses to Crack Down on Payday Advance Loan

Nouvel Fl’âm, September 20, 2021, Whitehouse, Durbin Introduce Expenses To Crack Down On Payday Advance Loan

U.S. Senators Sheldon Whitehouse and Richard Durbin brought forth the Protecting Consumers from Unreasonable Credit Rates Act of 2019 that seeks to cap the fee and interest rate creditors can charge borrowers for an open consumer credit plan to no more than 36%.

The National Community Reinvestment Coalition, along with a multitude of different organizations operating in the financial space, supports this reform and hopes to see it passed in Congress.

Print Friendly, PDF & Email

Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

Complete the form to download the full report: