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