Predatory Practices are… any practices or services that benefits a business or other entity at the expense of a poor or less powerful person. Predatory Practices often take advantage of poor people and perpetuate cycles of poverty. Common Predatory Practices High tax preparation fees No access to free or low cost banking…
The National Consumer Consumer Law Center (NCLC) has released its 2020 update to a 2018 report that compiled the stories of borrowers experiencing hardship in the wake of the federal government’s seizure of their EITCs due to student loan defaults. The report highlights the devastating impacts that can result from these fund confiscations, especially amidst…
The 2020 tax season is underway, and advocates from the National Consumer Law Center have issued their annual advisory on taxpayer consumer protection issues including tax-time financial products, the lack of upfront pricing for tax preparation services, and private debt collection. “Tax time is such a challenge for low-income and other vulnerable taxpayers,” said Michael…
A Center for American Progress Report takes a closer look at the large wealth disparity between Latinx and white households. Despite similar employment rates, the median wealth of Latinx workers is only 14.6 percent of the median wealth of white households. The report attributes the gap to a number of factors including Latinx communities’ relationship…
In advance of the next tax season, learn more about ways tax sites can encourage families to consider savings through refund splitting. The Get It Back Campaign, a national effort to connect eligible workers to tax benefits, has posted a recording of its training on Effective Ways to Promote Split Refunds. As part of the Get…
A research brief from the Samuel DuBois Cook Center on Social Equity and Insight Center for Community Economic Development – Women, Race & Wealth – examines the wealth inequality gap across both gender and race. The data shows that single young women (under 40), regardless of race and education, begin adulthood with very little wealth. However, looking…
The Road to Zero Wealth, a report released this Fall by Prosperity Now and the Institute for Policy Studies, examines the growing racial wealth divide and explores policy interventions that could reverse this trend. The report lays the foundation for a broad policy agenda by emphasizing the importance of gathering sufficient information on the barriers low-wealth households face in…
In April, Congress agreed to an “Omnibus” spending bill, funding the federal government through September, but leaving out funding for Assets for Independence (AFI). AFI is a federal program that, for almost 20 years, been the largest source of funding for Individual Development Accounts (IDA’s). Despite advocacy efforts to save the program, as part of a…
Researchers from Duke University and the Insight Center for Community Economic Development recently released Women, Race and Wealth, the first in a series of briefs that examines patterns of wealth among black and white women. Wealth disparity between black and white households has reached its highest level in over 25 years, and research shows that black…
Research indicates that some EITC recipients use their refunds to help pay off debt – including student debt. Average student loan debt at graduation has been growing over the last two decades, but often this burden impacts some families more than others. A recent Urban Institute analysis of 2014 Household Economics and Decisionmaking (SHED) data…