 I'm joined by Megan Dugan Adele from New America, Chicago. As you know, at the Chicago Community Trust, we've taken a stand on predatory lending because high interest rate lenders tend to be concentrated in black and Latinx communities. And this is important as we consider closing the racial and ethnic wealth gap. One of the questions we wanna understand is as we think about the racial and ethnic wealth gap, there the folks wealth picture is often comprised of how much income they have, how much savings they have. And also, what's the kind of debt they've had to take on? So can you say a little bit more about how much predatory lending has impacted the racial and ethnic wealth gap for black and Latinx communities in Chicago? Thanks, Yana. Honestly, I believe it has had an incredible impact. That's why New America started the We Prosper Coalition with Woodstock Institute in the Chicago Urban League. Billions of dollars have been taken out of the black and Latino communities over the last 35 to 40 years. We aren't sure exactly how much. There's so many types of high interest rate loans and people in communities of color have really been targeted for high interest private student loans, unfair mortgage terms, title loans. That's just to name a few. We have the most information about, I mean, the most data on payday and installment payday loans. And that's why we focus this upcoming report on those types, but that's just like a small chunk of the picture. Just looking at 2019, for example, in payday and installment payday loans, about $261.9 million was taken out of black and Latino majority areas, just in Chicago in the suburbs, just in interest for just two types of loans. So it's a huge amount of money, just a ballpark it. We could be talking about $9 billion over that period, over a couple of decades, just for one type of loan, just in Chicago in the suburbs. So it's really a huge chunk of the potential wealth that black and Latino communities could have been saving. They could have been using to buy a house investing. And we know that they're really concentrated. So black households nationally are 2.5 times more likely to have used a payday loan than white households. That's just one example. And also in the city of Chicago, if you look at say one year, 2019, there were almost 10 times more payday loans in majority black zip codes than majority white zip codes in the city. And then if you look at majority Latino zip codes versus majority white neighborhoods, there were seven times as many. So it's really been very concentrated on those communities and has really harmed their ability to build a cushion for themselves and to build wealth over time. I'm speaking with Brent Adams from the Woodstock Institute. Why is it important to keep the PLPA in place? The PLPA is necessary to protect consumers who have traditionally been taken advantage of. And by that I mean black and brown consumers and lower income consumers to protect them from being gouged with triple digit interest rates once again. The industry does not hesitate to charge as much as it can to extract as much wealth as it can from communities that are already disinvested. So to protect those communities and make it possible for them to rebuild, rebuild in the wake of the pandemic, rebuild in the wake of decades of disinvestment, it's necessary to protect the PLPA because we need to do two things at the same time with respect to communities that have been underserved. We need to on the one hand stop the wealth stripping and that's where the PLPA comes in. We also need to at the same time adopt programs that allow those communities or enable those communities, equip those communities to build wealth. You have to do both at the same time. If you build wealth but then have the wealth stripped away by predatory loans, then you're really wasting your time. It's like having a hole in the boat. You have to do both strategies at the same time in order for these communities to make steps forward towards a more secure and ultimately prosperous future.