Jobs fight poverty. Having a job empowers customers to provide. But it seems that groups like the Anti-Poverty Coalition of Greater Dallas have the wrong idea regarding how jobs should be treated in the current economy. The coalition told the Dallas Observer that payday lending jobs must be sacrificed, supposedly in the name of fighting poverty. Source for this article – Killing payday lending does not fight poverty by MoneyBlogNewz.
Getting poverty taken care of
The coalition is hoping to create ways out of poverty. This is what CitySquare CEO Larry James said in a press release to the media:
“The Anti-Poverty Coalition of Greater Dallas is a new coalition that seeks to move 250,000 people out of poverty permanently by 2020 by coordinating efforts to keep people from falling into poverty and increasing pathways out of poverty,” writes James.
‘A treadmill of debt’
There’s a reason why the unsecured loan and quick installment loan industry is being attacked. James said that “a treadmill of debt” is created with them helping individuals into poverty. All zoning ordinances would be challenged with legislation like SB 253 and Texas HB 410 that would keep payday lenders out of the credit service organization category. By instituting a “strong zoning ordinance to decrease the clustering of payday and auto title lending stores,” the Anti-Poverty Coalition of Greater Dallas believes the shackles of poverty would lift from the wrists and ankles of the poor citizenry. It believes that many would be better off with payday lending taken away from them. There is nothing that speaks to Wall Street or bad spending habits being involved. In truth, eliminating personal loan comp! anies limits customer choice and costs Texas jobs, both dire consequences in light of the recession-ravaged economy.
An indirect attack, at best
Industry experts are worried that more would come if zoning ordinances requiring installment and personal unsecured loan outlets to be at least 1,000 feet apart with ordinances for instance SB 253 and HB 410 that there would result in being more. When it comes to getting poverty fixed, it does not really make sense to attack payday loan lenders with 36 percent Annual Percentage Rate caps which would end up shutting down the businesses and putting more people out of work.
What “anti-poverty” coalitions really want is not shown in the zoning attacks. Charitable groups like this might discover better things to do if they, including the Anti-Poverty Coalition of Greater Dallas, were only willing to understand the extant independent research that shows higher poverty in communities without short term installment loans.
Citations
Dallas Observer
blogs.dallasobserver.com/unfairpark/2011/04/new_anti-poverty_coalition_to.php
Payday Pundit
paydaypundit.org/2011/04/12/flawed-plan/
Texas HB 410
capitol.state.tx.us/BillLookup/History.aspx?LegSess=82R&Bill=HB410
Texas SB 253
capitol.state.tx.us/BillLookup/History.aspx?LegSess=82R&Bill=SB253
Texas Secretary of State
sos.state.tx.us/statdoc/faqs2800.shtml
Jobs fight poverty
youtu.be/w0v7OMt3vio
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