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Raise Texas

Monthly E-Newletter

April 2011 Newsletter

Upcoming Events

Mark your calendar for the next Regional Rural Community Asset Building Forum presented by RAISE Texas, the Federal Reserve Bank of Dallas, and Texas Rural Innovators, with support from partners including the Jacksboro Chamber of Commerce and EDC, Texas Department of Agriculture, and Catholic Charities Diocese of Fort Worth, Inc. The forum will be held on April 21, 2011 from 9:30am- 3:30pm at Cowboy Christian Missions (2381 Hwy 380 West) in Jacksboro, Texas. This event is FREE and lunch will be provided. Register today!

Also, save the date for November 1-2, 2011 to attend the 2011 RAISE Texas Action Summit at the Federal Reserve Bank of Dallas in Dallas, Texas. More information on this year’s exciting summit will be sent out soon.

Brief Policy Update

The Texas Legislature is in full session! Bills have being filed, committees are holding public hearings, and this is a great opportunity for us to raise and expand support on our important asset-building issues. RAISE Texas is currently following over 20 asset-building related bills. Below are just a few we are tracking this session. Click here to view the entire list of bills.

SB 1862 CSO (Payday Lending) Senators Davis and West
Relating to the regulation of activities with respect to certain extensions of consumer credit.
Voted favorably out of the Senate Business & Commerce Committee on April 7.

HB 2592, HB 2593, HB 2594 CSO (Payday Lending) Representative Truitt
Relating to notice and disclosure; restrictions on fees, renewals, and payments; and registration and regulation. All three bills voted favorably out of the Pensions, Investments and Financial Services Committee on April7.

The bills that were voted favorably out of the House and Senate Committees yesterday regulating payday and auto-title lending are a positive step forward. RAISE Texas hopes that these bills will improve before final passage and we will provide more details on these bills in a future policy update.

SB 517 College Savings Accounts Senator Watson Relating to the appropriation of unclaimed property to support the Texas Save and Match Program Left pending in Senate Finance Committee after public hearing on March 4.

HB 1709 IDAs Reps. Dawnna Dukes and Elliott Naishtat
Relating to the creation of the individual development account program to provide savings incentives and opportunities for certain foster children to pursue home ownership, postsecondary education, and business development.
Left pending in House Human Services Committee after public hearing on March 15.

Resources and Publications

Federal Reserve Bank Highlights Asset Building in Rural Areas
RAISE Texas is excited to announce that the Federal Reserve Bank of Dallas has released its latest issue of Perspectives. This issue, “Asset Building Taking Root in Rural Communities”, highlights the importance of expanding asset-building opportunities into rural communities. RAISE Texas has partnered with the Federal Reserve Bank for phase 4 of our Rural Asset Building Initiative to facilitate regional meetings in small cities and rural counties across Texas. Click here to read the new publication.

Mark Your Calendars for Financial Fitness Greater Austin
Financial Fitness Greater Austin (FFGA) is an education and awareness initiative led by the United Way Capital Area in partnership with the Alliance for Economic Inclusion, Senator Kirk Watson and more than 60 entities in the Greater Austin area. This year’s event, Financial Strength and Wealth For All, will run from April 25- May 1, 2011. Visit www.FinancialFitnessAustin.org for a complete list of free seminars.

New Report on Payday Loans
The Center for Responsible Lending released their new report, Payday Loans, Inc.: Short on Credit, Long on Debt, which dispels the notion that a payday loan is a short-term debt. The research shows that many borrowers they tracked, remained indebted for 24 months following their initial loan. Click here to read the entire report.

New Initiative to Provide Financial Literacy to Texas College Students
A recently enacted Texas law requires state colleges and universities to educate their students about personal financial management. To help public education institutions meet this requirement, the Texas Attorney General's Office has developed several money management and education materials and resources. Click here to read more about the new initiative.

New "Bank On Cities" Toolkit Available
The National League of Cities has published a new toolkit, "Bank On Cities: Connecting Residents to the Financial Mainstream." This new toolkit is a step-by-step guide for municiple leaders to develop a Bank On program in their communities. 

Help us to spread the word about the exciting activities going on in the asset-building field in Texas by liking RAISE Texas on Facebook and following us on Twitter! Thank you for your support!

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