Updates – Page 36 – Alliance for a Just Society

Ashland, OR: Another Victory for Local Banking

Oregon Action! nailed another victory to move municipal money out from under major banks. After many months working to engage local municipalities on responsible banking practices, OA! moved the Ashland City Council to unanimously pass a resolution authorizing the city to move some of its money out of Wells Fargo and to establish accounts at local credit unions. The amount they have moved is at the fullest extent insurable by law.

More importantly the ordinance sets in motion the process for the city to establish responsible banking criteria for banking services contracts.
Oregon Action and the Oregon Banks Local Coalition has been working for over 3 years to encourage state and local municipalities to begin the process of moving their money– what advocates call divestment– out of the big banks and into more locally controlled institutions. Divestment from major banks to local banks increases economic dividends for municipalities and the state.

Since Oregon’s banking landscape is dominated by the large banks, encouraging local banking by our cities is of three goals for this movement:

Keep more Oregon money in Oregon,
Bolster the local banking sector, and
Increase small business lending.

Ashland now joins other victories and current initiatives in Corvalis, Portland, Gresham, and Clatsop County.

The Nation: US Bank, Fair Lending and the Job Gap

This Week in Poverty: Banks Got Nowhere to Run To, Baby
Greg Kaufmann | April 12, 2013
Last year, US Bank held its annual shareholders meeting in Minneapolis, Minnesota, home of its corporate headquarters. The event was dominated by shareholders
and proxies who are members of Minnesotans for a Fair Economy [1], an alliance of community, faith, and labor organizations working for a more equitable economy.

Continue reading “The Nation: US Bank, Fair Lending and the Job Gap”

For Family Unity and a Path to Citizenship– the Time is Now!

As I stood on the West Lawn of the Capitol this afternoon listening to Dolores Huerta, an idol of mine, I felt like I was experiencing the making of history. In the midst of her powerful speech I took a moment to observe those around me. I looked around at the thousands of faces surrounding me—a mix of gender, age, and ethnicity but all standing with pride, their eyes filled with an unwavering sense of determination. No longer would they be paralyzed from frustration or fear.Continue reading “For Family Unity and a Path to Citizenship– the Time is Now!”

Partnership Banking in Maine: Investing Local Capital Locally

The national and international banking systems facilitate the extraction of wealth from Maine communities. The state of Maine has the resources to slow this economic leakage and strengthen it local financial sector.

LD 1078 has been introduced into Maine’s legislature. Read the Report that helped set this bill in motion:

Introducing Chain of Title in Colorado and other Protections for Homeowners.

A term that apparently means nothing to the banks of Colorado and the Alliance affiliate, Colorado Progressive Coalition is set to make the banks understand just what that phrase means. But for homeowners: it means a lot more.
A chain of title is the sequence of historical transfers of title to a property. The “chain” runs from the present owner back to the original owner of the property. In situations where documentation of ownership is important, it is often necessary to reconstruct the chain of title.

Continue reading “Introducing Chain of Title in Colorado and other Protections for Homeowners.”

Alliance Testimony Declares ‘Living Wage Crisis’

We’ve all heard the stories of folks unable to make ends meet. Today, we shared with legislators the data that backs that up.

In partnership with the Washington Community Action Network, the Alliance shared our Job Gap Report Washington state findings before a panel of state legislators during a House Labor & Workforce Development Committee work session.Continue reading “Alliance Testimony Declares ‘Living Wage Crisis’”

Survival Denied: Stories from Alaska Native Families Living in a Broken System

“The indigenous hunting and fishing practices of ALL Alaska Natives, including the harvesting and sharing of fish, game, and other resources and the ceremonies which accompany these practices provide for the SOCIAL, CULTURAL, SPIRITUAL, & ECONOMIC WELL-BEING & SURVIVAL of the Alaska Native communityContinue reading “Survival Denied: Stories from Alaska Native Families Living in a Broken System”

2012 Job Gap Report

“Broken Bootstraps: Falling Behind on Full-Time Work,” is the 14th annual installment of a joint study by Alliance for a Just Society and its affiliates in 7 states.

Unemployment rates in all states are still high. A modest $9.00/hr. minimum wage has been mentioned at the federal level. Even that income would leave most low-wage workers needing to utilize public assistance programs.Continue reading “2012 Job Gap Report”

One Solid Act for Homeowners: Can Obama do it in the First 100 Days?

It’s been five and half years since the largest economic collapse in 4 generations, and fiscal policy is still being executed in a way to favor the banks and not regular folks. We’ve subsequently seen a “jobless” recovery from our recession and are now seeing a “houseless” rebound of home market. But why?

It’s clear that the Obama Administration hasn’t done nearly enough to address the housing collapse. The HAMP program wasn’t nearly enough with too many hoops for homeowners and was voluntary for banks to participate. The latest solution put forth to address the 16 million homeowners who are currently underwater on their mortgages, writing down principal to market value, is being derailed by Ed DeMarco. He’s the temporary head of FHFA which oversees Fannie Mae and Freddie Mac, the largest loan holders in the country.

Writing down principal for folks would have ripple effect through the economy. First, it would stabilize communities by ending the foreclosure crisis, then it would ensure steady revenue streams for municipalities and states, and lastly it would kick start the home market again as those who are locked into paying more than their home is worth could feasibly sell their home if needed.

President Obama needs heed his mandate from the November elections and remove Ed DeMarco in his first 100 days in order to jump start the economy and make good on his campaign promises to get the economy back on its feet.

In fact, with the release of a letter from 45 Representatives in Congress demanding that President Obama name a permanent director of FHFA the White House needs to make this happen within the first 100 days.

See the New Bottom Line’s Response to the letter here:

http://www.newbottomline.com/new_bottom_line_applauds_congressional_demand_that_obama_fire_demarco

Taking on Predatory Lending in Idaho

Thousands of Idaho residents are strapped for cash. The economic recession has devastated the lives of Idahoans across the state. As the need to make the dollar stretch increase, financial resources from traditional banks decrease.

Payday loan centers have seized an opportunity to profit from the misfortune of those in need. Predatory lenders have lined the sidewalks of low-income and communities of color with promises of instant cash and no credit checks. Having no available alternatives, residents are left to turn to payday loan centers for relief; but that relief keeps coming with a cycle of interest rates as high or higher than 520%.Continue reading “Taking on Predatory Lending in Idaho”