Updated: Sep 4, 2019
FOR IMMEDIATE RELEASE
CONTACT: Adrienne Wheeler 504-561-7312; firstname.lastname@example.org
July 18, 2019, New Orleans – Last month, Louisiana Appleseed released its findings on financial stability in low-income and communities of color in its report A Vicious Cycle: How Predatory Lending and Court Fines & Fees Continue to Trap Communities of Color in Debt. As a part of a statewide tour, Louisiana Appleseed is now taking these findings to Lafayette.
On July 29th at the Lafayette Main Public Library at 301 W. Congress Street, Louisiana Appleseed will host a community meeting from 1:00 p.m. to 3:00 p.m. During this meeting, Louisiana Appleseed will discuss its findings outlined in A Vicious Cycle, listen to residents’ current debt problems, and highlight current materials available to increase financial stability. This meeting is open to the public.
A Vicious Cycle provides important information on the factors contributing to the racial inequities that prevent wealth generation in communities of color. Long-term consequences of resorting to high-cost financial products often perpetuates a cycle of crippling debt that compounds financial insecurity and entrenches families and communities in poverty. The report also highlights how low-income people of color also are trapped by harmful debt through the imposition of court fines and fees. By shedding light on these issues, Louisiana Appleseed empowers families with the knowledge of how to avoid some debt traps.