MEPC Payday Testimony

January 10th, 2011

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 hearing on payday lending and for allowing me to testify. I serve as the Senior Vice President of Policy for the Hope Enterprise Corporation (HOPE), a nonprofit community development finance institution that also sponsors Hope Federal Credit Union. For sixteen years, HOPE has worked to break the cycle of poverty throughout Mississippi and the Mid South by undertaking a wide range of income and asset development strategies to benefit the region’s low- and moderate-income residents. In total, HOPE has generated $1.4 billion in financing and investments for over 75,000 small business owners, homeowners and working families. Download PDF to read full testimony >>