Community Investment Unit
 Capitol DayMichael Lezaja and Lauren Brooks at Capitol Day. |
On November 20th, the Illinois Asset Building Group, which is co-chaired by the Shriver Center and Heartland Alliance, brought over 70 people to Springfield to participate in IABG Capitol Day. The goals for the day were to raise awareness on the importance of savings and consumer protections, provide a positive experience to participants, and identify legislators supportive of asset building policy. On all three counts the day was a resounding success. IABG groups where able to meet with over 30 legislators to discuss the importance of savings and assets while pointing out issues such as the high rate of asset poverty, increasing number of bankruptcy filings and rising cost of college. Before concluding, group members asked legislators for their support on efforts to promote asset building such as the development of a statewide children’s savings account plan, closing the loopholes on payday lending regulations, expanding the earned income tax credit and increasing access to healthcare. Thank you to all who participated in Capitol Day. Your enthusiasm and hard work made the day a big success. |
About Us
What is Asset Poverty?
While income poverty is a term many people are aware of, asset poverty includes those households that do not have enough in assets to meet their expenses for three months if all outside sources of income were to disappear. Assets, both personal and financial, are the foundation for long-term stability and success. To learn more, visit www.illinoisassetbuilding.org.
The Shriver Center's Community Investment Unit takes action against poverty on three fronts: building assets, expanding ownership, and protecting consumers. Through progressive policy and effective advocacy, the CIU helps communities avoid a cycle of debt, making asset ownership available and sustainable for everyone.
From the Headlines
- The Debt Trap: Colleges Profit as Banks Market Credit Cards to Students, New York Times, December 31, 2008
- Federal Reserve Board Releases Final Rule on Credit Cards, Consumers Union
- Unfinished Business: Consumers Need More Protection from Unfair Credit Card Practices, Consumers Union, December 19, 2008
- California Helping Poor and Immigrants Open and Maintain Bank Accounts, New York Times, December 11, 2008
- California Helps Poor Families Build Savings Accounts, Sacramento Bee, December 13, 2008
- Editorial: No Bank Account? Time to Change That, Sacramento Bee, December 12, 2008
- Proposal to Target Internet Lending in Oklahoma, The Oklahoman, December 14, 2008
- Car Title Loans in Line for Scrutiny, The Free Lance-Star (Virginia), December 14, 1008
Recent Blog Posts
- Illinois v. Countrywide
- An Era of Change: LiLAs Spark Workforce Development
- Is Our Financial Debt Making Us Sick?
- Congress Falls Short in Addressing Foreclosure Crisis
- Plan for Rain or Retirement with Tax Refunds and Stimulus Payments
- California Unveils Portable Retirement Accounts
Building Assets
- Illinois Asset Building Group (IABG)
- Asset Policy Learning Circle
- State Asset-Building Coalition Directory
- CSD Asset Coalition Policy Report
- Building Community Assets: Growing Lower Income Credit Union Membership
Combining asset building & work supports programs:
- Eliminating the Asset limit
- State Asset Limit Toolkit (S.A.L.T.)
- Financial Education as a TANF activity
Offering Financial Education through:
- Financial Links
- Savings for Education, Entrepreneurship, and Downpayment (SEED)
- Campaigns to Bank the Unbanked
Providing Access to Mainstream Financial Institutions through:
- Learn About Student-Run Banks in the June 2008 Clearinghouse Review
- Opening a High School Bank Branch
- Teen bank model generates interest in Philadelphia
- Check out our video - "Branching Out," the story
of student-run banks
- Community Reinvestment Act (CRA)
Calendar of Events
Protecting Consumers
- Payday Loan Reform Act
- Rate Caps: The Proven Cure To Payday Loan Debt
- Combating Predatory Lending with Monsignor Egan Campaign
- IRS Response to Refund Anticipation Loans
Expanding Ownership
- Universal Children's Savings Accounts (CSAs)
- Child Development Accounts (CDAs)
- Children's Savings Accounts State and National
Policy
- Saving for Education, Entrepreneurship, and Downpayment (SEED)
- 2008 Economic Stimulus Package for Savings
- Individual Development Accounts (IDAs)
- Auto-Enrollment 401(k) Retirement Plans
- Portable Retirement Accounts
2008 Legislation Watch
CIU Publications
Get acquainted with asset building and asset protection
- Find IDA programs in your area at www.idanetwork.org
- Profitwise from the Federal Reserve Bank of Chicago
- "Building Assets While Building Communities," H.
McCullough, February 2006
Partners
Community Investment Unit News
- Illinois Assocation of Mortgage Brokers v. Office of Banks and Real Estate
- District Court Ruling that Illinois Office of Banks and Real Estate Predatory Lending Regulations Are Not Preempted by Federal Alternative Mortgage Transaction Parity Act Reversed by Seventh Circuit With Direction to Determine Which State Regulations Are Preempted
- California Unveils Portable Retirement Accounts
- Plan for Rain or Retirement with Tax Refunds and Stimulus Payments
- Congress Falls Short in Addressing Foreclosure Crisis
- Planning for the Stimulus Rebate: A Catalyst for Saving
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50 East Washington Street, Suite 500, Chicago, Illinois, 60602;
(312) 263-3830 (voice); (312) 263-3846 (fax).