Impact University: Financial Education

Behavioral Economics

Why the Rich Don’t Give to Charity >

Stern, Ken (2013-03-20, The Atlantic): The poorest citizens in the U.S. traditionally give the largest percentage of their income to charity -- even though this category of taxpayers cannot usually make use of tax deductions for charitable contributions.

Behavioral Economics

Borrowing to Get Ahead, and Behind: The Credit Boom and Bust in Lower-Income Markets >

Fellowes, M. and Mabanta, M. (2007-05, The Brookings Institution): In the past few decades, lending has changed dramatically with an increase the supply of credit. With lending expanding in lower-class markets, a whole new array of policy implications have appeared leaving policymakers with more concerns.

Public Policy

Hard Cash: Predatory Lending in Alabama >

Alabama Appleseed Center (2010-10-07, Arisecitizens.org): Throughout Alabama many types of credit services are designed to trap consumers into financial difficulties. This fact sheet reviews predatory lending practices in Alabama.

AL.com

Alabama Leads Nation in Car-Title Outlets >

Izor, C. (2012-09-23, Birmingham News): Of the sixteen states that allow car title lending, Alabama has the largest number of title lenders per capita. This abusive practice has grown due to the soft regulation of small dollar, high-interest loans.

Financial Education

Using Gambling to Entice Low-Income Families to Save >

Cohen, P. (2014-08-30, The New York Times); Prize-linked savings accounts, which offer the excitement of conventional lotteries with none of the risk, are changing the way that people think about saving. These programs receive bipartisan support and continue to gain traction as more and more organizations participate.

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