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Financial Exploitation of Communities of Color


Dream 2015 proposes a number of practical solutions to a problem that clearly plays a major role in growing poverty and income inequality. Among other potential solutions, they propose…Strengthening public-private partnerships such as Bank On and Lending Circles  that provide microlending services to communities of color.”

by Stuart Jeanne Bramhall


Traditional Asian Lending Circles Get New Life with Modern Twist

nbcnewssquareFour Asian American-Pacific Islander (AAPI) community-based organizations — in Minnesota, Ohio, Georgia, and Hawaii — will be expanding a national network of organizations offering Lending Circles, also called rotating credit and savings associations, thanks to a grant from the National Coalition for Asian Pacific American Community Development (National CAPACD), putting a traditional practice into wider modern circulation.

by Frances Kai-Hwa Wang

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Are Banks Too Expensive?

New-York-Times-Social-LogoIT was a slow afternoon at Check Center, the check casher/payday lender in a storefront on a busy corner in downtown Berkeley, Calif., where I worked as a teller. My manager, Joe, and I were both dressed in red polo shirts embroidered with the Check Center logo. Joe took advantage of the lull to tell me how to sell prepaid cards — reloadable cash cards that operate like debit cards but aren’t linked to a bank account — to customers.’

by: Lisa Servon


Lending Circles Weave Disadvantaged Borrowers into Credit Mainstream

nerdwallet logoTwo years ago, Javiar Giron went bankrupt. The 46-year-old father of three had been doing fine since he came to the U.S. in 1985: He learned English on the street, bought a house and managed a carpet business. He began buying and selling, or “flipping,” houses on the side, but that tanked with the housing market and he lost two of his properties to banks.

by: Teddy Nykiel


Zero to 789, in 26 months

New-York-Times-Social-Logo“Shweta Kohli has always paid her own way. Her straight-A average won her a full scholarship to San Francisco State University at the same time she worked a 40-hour week as a waitress at a cafe. But when she applied for a credit card after graduation, she was turned down because she had no credit history”.

by: Patricia Cohen