News
Balancing Act is Needed
Bills to offer incentives for economic development have been on a fast track in the opening days of the 2012 Alabama legislative session....Read More
AABC is "Lead State Alabama Organization" for Prosperity Now
AABC has been selected to be Prosperity Now's Lead State Organization (LSO)....Read More
Banks Interested in Payday Lending?
The other week I saw an article featured in the Birmingham news from the associated press that reported major banks are getting into Payday Lending....Read More
AABC is Chair of AEI initiative
The AEI is the FDIC's national initiative to establish broad-based coalitions of financial institutions, community-based organizations and other partners in several markets across the country to bring unbanked and underserved populations into the financial mainstream....Read More
A Housing Trust Fund in Alabama
The Low Income Housing Coalition of Alabama (LIHCA) is supporting legislation that will increase housing opportunities in Alabama for working families, people with disabilities, veterans, and the aging population. With the leadership of Representative Patricia Todd, we have a bill that will create a state Housing Trust Fund, but we need your help. Please join us in our support of the Housing Trust Fund bill, described below....Read More
Alabama Gets an "F" grade from Prosperity Now
AABC is the lead state agency for CFED’s (Corporation For Enterprise Development) “Assets and Opportunity Network. “ CFED recently published its “2012 Asset Score Card” where Alabama received a grade of “F.”...Read More
Asset Building in the 2012 Legislative Session
The 2012 session of the Alabama Legislature produced mixed results for asset-building advocates....Read More
Small Dollar Lending
A new report on small dollar loan products. It was produced by the Center of Economic and Policy Research....Read More
Get Your Taxes Done for Free
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AABC Payday Lending Video
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Payday Lending Study
Barriers to Neighborhood-Level Economic Growth: Do Payday Lending Operations Prey on Economically Vulnerable African American Neighborhoods?...Read More
Analysis of Payday Lending in Alabama
Commissioned by the Alabama Asset Building Coalition....Read More
President Obama to speak about Payday Lending
March 25, 2015 in Birmingham....Read More
Alabama's Asset and Opportunity Scorecard
Learn More about Alabama's National Ranking in Assets and Opportunities for all citizens....Read More
Montgomery NAACP shows dangers of predatory lending
Driving down Fairview Avenue or Atlanta Highway, passersby will see flocks of signs advertising “easy money” in the form of payday and title loans, but Hersheil Mann wants people to know that money is never easy. ...Read More
Auburn professors: Why can't banks provide payday-style loans without payday-style rates?
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Auburn University study examines whether Democrats or Republicans are more likely to restrict payday lending
There is no significant correlation of regulatory leniency of the payday lending industry on whether states are controlled by Democrats or Republicans, a new Auburn University study suggests....Read More
Bank On South Alabama Launches
Critics of Alabama's 456 percent cap on payday loans say the financial tools hurt poor borrowers the most by plunging them into a never-ending cycle of debt....Read More
The Alabama Asset Building Coalition names Kenneth Walker, Executive Director
AABC is proud to announce our new Executive Director, Kenneth Walker...Read More
Self-Employment Assistance Program
As our economy seeks to recover from the past years of economic downturn, it’s important that our government (state and federal), implement policies that help to spur economic growth not just for investment by large corporations, but by small entrepreneurs as well. ...Read More
Alabama Asset Buiding Corporation Request for Proposal
The Alabama Asset Building Coalition (AABC) is requesting proposals for conducting annual audits for FY17 and FY18 from CPA firms with experience in providing auditing to nonprofit organizations. ...Read More
Is Debt Like Cholesterol ?
As I was prepping for a talk last week on debt in the US, I realized that we talk about debt today much like we talked about cholesterol when I was growing up. There’s good and bad cholesterol, just like good and bad debt. Cholesterol isn’t inherently bad for your health—in fact, your body needs good cholesterol for organ growth. It’s the bad cholesterol that clogs your arteries and makes you more prone to stroke and heart disease...Read More
How Financial Capability and Asset Ownership Can Help People Weather Racial Wealth Inequity
Centuries of discriminatory policies and practices have entrenched America’s deep racial wealth divide. Despite gains in the previous three years, the median net worth of Black and Latino households in 2016 was only $3,400 and $6,300, respectively, compared with $140,500 for White households....Read More
A Bill for Inclusive Credit Scores Could Narrow the Racial Wealth Gap and Build Financial Security
John and Jane Smith are in their late 20s, have two children and purchased a home just over a year ago. For the last several years, they tried on their own to save money for a downpayment and closing costs, but other expenses and obligations made this a challenge. To help, Jane’s parents agreed to pay for most of the downpayment. Since becoming homeowners, John and Jane have paid off their monthly mortgage payments in full....Read More
Five Themes Shaping the Growth of the Children's Savings Movement
On May 2, more than 50 Children’s Savings Account (CSA) practitioners, researchers and other supporters gathered at the Bureau of Consumer Financial Protection (“the Bureau,” formerly the Consumer Financial Protection Bureau or CFPB) in downtown Washington, DC. This event—organized by the Bureau, Abt Associates and Prosperity Now under the Bureau’s CSA Initiative—focused on what practitioners and policymakers need to advance the field and move toward scale....Read More
Innovating the Savings Field: We Want to Hear Your Stories!
Although the essential Assets for Independence (AFI) program was defunded a year ago, we know that efforts to support clients in savings and building assets has not stopped. Prosperity Now hosted a Matched Savings Summit in December 2017 to bring together practitioners from across the United States to explore opportunities in matched savings....Read More
