How an innovative microcredit partnership is helping to break the cycle of debt by providing alternatives to predatory lending.
News Story (Mississippi)
June 20, 2015
Tags: Consumer Protection, Predatory Lending
Organizations mentioned/involved: Mississippi Center for Justice (MCJ)
So far, the New Roots Credit Partnership has signed up the cities of Jackson and Canton, as well as a school district in the Delta and a regional housing authority. “It’s a win-win-win,” said Charles Lee, director of consumer protection at the Mississippi Center for Justice, during an interview at the group’s Jackson headquarters.
“Participants get the loans they need, as well as financial literacy training; the bank gets new customers; and the employers cut down on the number of garnishments they have to process each month, while providing their workers with an important benefit.”