While feds loosen payday loan regulations, Colorado voters could clamp down, By Liz Farmer, August 30, 2018, Governing: “As the federal government walks back historic regulations on payday lending, Colorado voters this fall will be asked to tighten them — a sign that strong consumer protections are increasingly being left to the states…”
Tag: Financial services
Home Loan Discrimination
Redlining was banned 50 years ago. It’s still hurting minorities today., By Tracy Jan, March 28, 2018, Washington Post: “Racial discrimination in mortgage lending in the 1930s shaped the demographic and wealth patterns of American communities today, a new study shows, with 3 out of 4 neighborhoods ‘redlined’ on government maps 80 years ago continuing to struggle economically. The study by the National Community Reinvestment Coalition, released Wednesday, shows that the vast majority of neighborhoods marked ‘hazardous’ in red ink on maps drawn by the federal Home Owners’ Loan Corp. from 1935 to 1939 are today much more likely than other areas to comprise lower-income, minority residents…”
Retirement Security
Think income inequality is bad? Retirement inequality may be worse., By Mike Maciag, March 2018, Governing: “For years, salon owner Luke Huffstutter, of Portland, Ore., wanted to offer his employees a way to save for retirement. Costs were too steep for the small company, though, and few employees took the initiative to set up 401(k) plans on their own. But last summer, Oregon launched a retirement savings program that automatically enrolls employees in Roth IRAs, the first such state-sponsored program in the nation. Huffstutter signed up, and most of his 38 employees are now enrolled…”