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Better Shreveport Battling Predatory Lending by Tackling Banking Deserts

Better Shreveport Battling Predatory Lending by Tackling Banking Deserts

A map regarding the Shreveport area bank that is showing (black colored map markers), low-income areas (polka-dotted areas), and minority populace (darker means greater portion). (Credit: Nationwide Community Reinvestment Coalition)

Once in a while, driving around their hometown of Shreveport, Louisiana, Steven Jackson gets away from their automobile at an end indication or red light, hops off to the median or perhaps the region of the road and eliminates an indication marketing for pay day loans, tax advance loans, or sometimes also “holiday loans.”

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Theoretically, all signage without town approval on town roads is unlawful in Shreveport, nevertheless the indications keep appearing anyhow. Using them down is perhaps all in a day’s work protecting their constituents from predatory loan providers, as Jackson is really a commissioner for Caddo Parish, containing Shreveport.

More formally, Jackson recently won unanimous approval from the parish payment to make a task force to handle the problem of banking deserts close to Shreveport. The priority that is top the job force: getting a prepared partner, either a bank or credit union, whom might take several of Caddo Parish’s deposits and available branches inside banking deserts. (more…)

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