Obawole: Neglected by banks, rescued by PoS agents

Earlier this month, the federal Consumer Financial Protection Bureau (CFPB) proposed new rules to regulate payday lending – the business of offering high-cost short-term loans to Americans on terms that many consumer advocates consider predatory.

An ambitious plan for the 69-acre Regent Park neighborhood is disrupting entrenched notions of class, race and religion, at a time when concerns over income inequality and immigration are growing.

Years of misrule and a subsequent dearth of hard currency, along with crippling bank-fostered debt cycles and exorbitant home mortgage interest rates, have created immense suffering for Myanmar's poor. But with the guidance of a local NGO, Women for the World, a pilot project helped women in some of Yangon's poorest neighborhoods capitalize on their cultural "head-of-household" status; by forming and managing community savings cooperatives, the women have instilled trust through local control and, above all, enabled members to secure land, build homes, buy food, and even generate profit through loans to families' business enterprises.

FEMA’s response to Puerto Rico post-Hurricane Irma has been the “longest sustained domestic airborne food and water mission in the nation’s history. The agency has never distributed more food or installed more generators.” However, due to bureaucracy and delayed decision making, there are still thousands of Puerto Ricans who have not received aid, or were underserved.

A growing number of tenant-focused websites are trying to level the power dynamic between shoddy landlords and tenants by giving tenants a voice. “There is a big power mismatch in today’s rental market, but it doesn’t have to be that way.” Amongst those is Rentlogic, which grades 1.1 million apartment buildings, but rather than relying on subjective comments the website provides a grade based on an algorithm.

An elementary school in Detroit works to give low-income students the resources and education they need to be successful. From supplying children with uniforms and breakfast to cleaning the school to provide a better work environment, teachers and staff address the underlying affects of poverty in the classroom.

In 2017, New Jersey eliminated the cash bail system – meaning that potential offenders awaiting court could not be held in jail for money. Instead, judges use an algorithm that considers the individual’s criminal history, flight risk, and threat level to the community. As New York considers doing the same, it looks the impact it has made in New Jersey.

Leading up to Father’s Day, Philadelphia criminal justice organization Frontline Dads raised money to bail out fathers. Inspired by the annual Mother’s Day bailouts that happen around the country, Frontline Dad aims to not just free father’s, but raise awareness about the issue of cash bail as well. Beyond bailing out fathers, participants will also have access to services like haircuts, counseling, and job placement assistance.

Mobile home owners in Colorado are beginning to own their own communities due in part to legislation that is making it easier to do so. Resident-owned communities preserve the affordable housing stock, which manufactured home communities make up a large percentage of.

The Business Center for New Americans, a nonprofit that offers loans with a focus on immigrant-run businesses, is going above and beyond to make sure its lenders get through the COVID-19 economic crisis. They are offering tailored support on how to apply for Economic Injury Disaster Loans, sharing other grant and loan opportunities, and using its status part of the SBA’s Microloan Program to offer new loans.