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July 2019 Newsletter

RAISE Texas News

Results of the 86th Texas Legislative Session

The 86th Texas Legislative Session is over. Thanks to all the advocates in helping to push bills forward that increased financial capability for all Texans and fought against legislation that negatively impacted consumer protections or the financial stability for families. We were thrilled to see the following bills pass into law this session:

  • HB 53 Minjarez et al
    Relating to the transitional living services program for certain youth in foster care.
    Signed by the Governor on 6/10/2019 and will go into effect on 9/1/2019.
  • HB 996 Collier et al
    Addressed “zombie debt” by prohibiting debt buyers from suing to collect a time-barred debt and prohibiting revival of those debts.
    Signed by the Governor on 6/14/2019 and will go into effect on 9/1/2019.
  • HB 1442 Paddie et al
    Relating to the continuation and functions of the Office of Consumer Credit Commissioner, the licensing and registration of persons regulated by that state agency, and certain consumer financial transactions regulated by that state agency.
    Signed by the Governor on 6/10/2019 and will go into effect on 9/1/2019.
  • HB 1483 Frank et al
    Relating to a pilot program for assisting certain recipients of public benefits to gain permanent self-sufficiency.
    Signed by Governor on 5/27/2019 and effective immediately.
  • HB 2524 Anderson
    Substantially limits the ability of rent-to-own businesses to pursue criminal theft of service charges, significantly improving existing law.
    Signed by the Governor on 6/14/2019 and will go into effect on 9/1/2019.
  • HB 2697 Meyer
    Addressed the problem of “coerced debt” by expanding the definition of identity theft in Texas to include debt incurred through coercion in an abusive relationship.
    Signed by the Governor on 5/31/2019 and will go into effect on 9/1/2019.
  • SB 37 Sen. Zaffirini
    Relating to a prohibition on the use of student loan default or breach of a student loan repayment or scholarship contract as a ground for refusal to grant or renew an occupational license or other disciplinary action in relation to an occupational license.
    Signed by the Governor on 6/7/2019 and effective immediately.

Texas News

Texas Organizations Selected for WorkBOOST Cohort II

Congratulations to the Texas organizations selected to be part of the second cohort of the Financial Clinic’s Financial Security Ecosystem WorkBOOST National! WorkBOOST National brings financial security approaches to scale by partnering with workforce development organizations to embed financial security strategies into their existing programs and services. Cohort II began on July 1, 2019. The following six organizations are part of Cohort II: Community Family Services, Goodwill Houston, NationSync, Center for Living and Learning, Team Rubicon, and Mexican American Opportunity Foundation. Click here for more information about WorkBOOST National.

National News

Submit a Video Telling Your Story and Win Up to $2,500 in College Scholarships

There are three weeks left to enter the College Promise Campaign’s 2019 Student Voices Video Competition and win up to $2,500 in scholarships! The goal of this campaign is to help current college students and graduating high school seniors tell their unique stories about the college experience! To enter, submit a short video (1 minute or less) on social media about how college has opened doors in your life. Students will be entered to win a scholarship that can be used for the cost of tuition, fees, or living expenses at both two- and four-year institutions. Click here for more information.

“Sanberg Eyes Poverty-Focused Presidential Run”

Spotlight on Poverty recently spoke with Joe Sanberg, an investor and anti-poverty activist about a potential presidential campaign focused on eradicating poverty. Sanberg advocates for the Earned Income Tax Credit and although he has decided not to run for president, he does plan to elevate the issue of poverty in politics. Click here to read the entire interview.

CFPB Delays Final Rule on Payday Lending

The Consumer Financial Protection Bureau (CFPB) announced the final rule delaying the August 19, 2019 compliance date for the mandatory underwriting provisions of the 2017 Payday Lending Rule to November 19, 2020. The unofficial version showing the changes to the Delay Final Rule and an executive summary of the Delay Final Rule can be found here.