Keith Ernst, John Farris, and Uriah King (Center for Responsible Lending)
Analysis of quantitative data reveals that payday lenders collect the vast majority of their fees from borrowers trapped in a cycle of repeated transactions, where borrowers are forced to pay high fees every two weeks just to keep an existing loan outstanding ...
Marianne A. Hilgart, Jeanne M. Hogarth and Sondra G. Beverly (Federal Reserve Bulletin)
Explores the connection between knowledge and behaviorÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â€šÂ¬Ã‚Âwhat consumers know and what they doÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â€šÂ¬Ã‚Âfocusing on four financial management activities: cash-flow management, credit management, saving, and investment.
Gena S. Gunn, Anupama Jacob and Melinda Lewis (Center for Social Development)
Examines the overall structure, benefits, and barriers of state tax credit legislation including case studies of four states that have successfully passed IDA legislation with tax credit appropriations.
Sondra G. Beverly, Jennifer L. Romich and Jennifer Tescher (Center for Social Development)
Describes a pilot program encouraging low-income workers to have their tax refunds directly deposited into low-cost bank accounts. The program did not lead to substantial saving and asset accumulation in the short-term but may have helped low-income families ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã¢â‚¬Å“get on trackÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€šÃ‚Â for ...
Discusses the Homestead Act's precedent for federal involvement in promoting asset development for individuals and describes asset-building policy as a complementary alternative to income replacement policies that subsidize short-term consumption.