This month, the Federal Deposit Insurance Corporation (FDIC) released the results of the 2011 FDIC Survey of Banks’ Efforts to Serve the Unbanked and Underbanked, which assesses insured depository institutions’ efforts to integrate unbanked and underbanked consumers into the financial… (read more)
Asset Development and Financial Inclusion
Mississippians who lack access to the financial mainstream may turn to costly financial services for basic transactions and credit needs, such as check cashers, payday loan providers, pawn shops, auto title lenders, and rent-to-own stores. Financial inclusion promotes access to safe, secure, and affordable banking practices and provides the opportunity for underserved consumers to become fully integrated into the banking system and build wealth. The resources below examine ways Mississippi can expand safe and affordable financial products and services through financial inclusion.
All Reports & Facts Sheets
Last week, economists presented at the annual Mississippi Economic Outlook Conference at the Mississippi Institutions of Higher Learning. The conference focused on the outlook and forecast of both the national and state economy and provided insight on three key sectors… (read more)
Serving the Unbanked: HOPE’s Commitment to the Mid South
Mid-South residents are among the most unbanked in the country. Nearly one out of five Mississippi households does not have a relationship with a traditional financial institution. Those households are relegated… (read more)
HB 1396 significantly increases fess on installment loans made by small loan companies. There were 517 small loan companies with nearly $795 million in loans outstanding in 2010.
House Bill 1396 Makes Small Loans More Expensive… (read more)
MEPC Opposes HB 1396 because it significantly drives up the cost of these loans, which are used by working familes. In its current form, HB 1396 harms working families and should not pass unless amendments are made.
House Bill 1396… (read more)
Testimony of Ed Sivak: Hope Enterprise Corporation and Mississippi Economic Policy Center (MEPC) Before the Mississippi House of Representatives Banking and Financial Services Committee “Payday Lending Hearing”
Good afternoon Chairman Flaggs and members of the committee. Thank you for holding the… (read more)
Across the state, Mississippians have access to nearly 600 sources of small loans that can be obtained at more affordable and manageable terms than payday loans. Furthermore, in states where legislative action or inaction resulted in the end of high… (read more)
HOUSE BILL NO. 455 - AN ACT TO REENACT SECTIONS 75-67-501 THROUGH 75-67-537, MISSISSIPPI CODE OF 1972, WHICH ARE THE MISSISSIPPI CHECK CASHERS ACT; TO AMEND SECTION 75-67-539, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE OF THE REPEALER ON… (read more)
Check Cashers by Address - Jackson, Mississippi Download PDF and view map >>… (read more)
Predatory lending can trap borrowers in a cycle of high interest payments, abusive fees, unreasonable terms and penalties that often lead to foreclosure. Lawmakers across the nation will reevaluate mortgage laws in the midst of a subprime lending crisis that… (read more)
