Public Presentation: The Economic Impact of Pay Day Loans & No Accounts

This presentation covers the annual economic impact of millions of lost dollars spent by employed central Texans on check cashing and pay day loan fees. A lack of direct deposit and checking accounts results in the average "unbanked" central Texan to lose $40,000 in their life time. In addition, millions of dollars are lost annually on predatory pay day loans. This presentation covers Financial Empowerment in the Workplace, a project developed through partnerships of Hispanic Austin Leadership, United Way Capital Area, and the local Bank On Campaign to address this issue at the employer level. The goal of the campaign was to educate employees, through the workplace, to open bank accounts, set up direct deposit, and avoid predatory loans.

"Payday lending is a controversial practice and faces both legal battles and public perception challenges in nearly every place where it is practiced." http://en.wikipedia.org/wiki/Payday_loan

Alejandro Dominguez, alumni of Hispanic Austin Leadership and active member in the Austin community, presents the outcome of the project on 4/29/10 in Austin, TX to over 200 members and guests of the Greater Austin Hispanic Chamber of Commerce.

Category:

Nonprofits & Activism

Tags:

• hispanic austin leadership
• HAL
• Hispanic chamber of commerce
• united way capital area
• bank on central texas
• bank on
• alejandroinaustin
• pay day loans
• direct deposit
• predatory lending
• in
• austin
• alejandro in austin
• empowerment
• the
• workplace

[TheFresno2010]

Wonderful presentation. Great use of slides. Message is clear, motivational and effective.