National and Local Experts on Payday Lending Featured at LANO’s Public Policy Institute

Thousands of people in Louisiana live paycheck to paycheck on sums that often fail to meet their basic needs.

One way to fill the gap is by taking out a "payday loan," borrowing against the next paycheck from a growing industry of lenders who charge exorbitant interest rates and high fees.

The costs of this questionable service can exceed the original loan amounts many times over and contribute to the cycle of poverty for millions of Americans.*

Join national and local experts March 8th for the panel, Payday Lending: Trapping Louisiana's Families in a Cycle of Debt

Presenters:

Tim Mathis, Budget Analyst for the Louisiana Budget Project will share the findings of his recent paper on the current state of payday lending in Louisiana.

Jean Ann Fox, Director of Financial Services for the Consumer Federation of America will provide attendees with an overview of what payday lending looks like nationally, the history of combating it on the federal level, and opportunities for attendees to advocate for legislation that addresses the issue on the federal level.

Rachel Anderson, Director of Faith-Based Outreach for the Center for Responsible Lending will share information on coalitions in other states that are addressing this issue; successful strategies they have employed and lessons learned from victories as well as defeats.

Kevin Williams, Community Affairs Specialist with the FDIC will discuss "Bank On Baton Rouge” as an alternative to payday lending as well as the other benefits of the program, how it came to be, and what steps can be taken to replicate it in other communities in our state.

Don't miss this opportunity to learn more about how this predatory lending exploits Louisiana's working poor and what initiatives are afoot to try and curb this dangerous trend.

Register for LANO's Public Policy Institute