LOUISIANA APPLESEED RELEASES REPORT REGARDING DEBT IN LOUISIANA'S LOW-INCOME COMMUNITIES
Updated: Jul 18, 2019
FOR IMMEDIATE RELEASE
CONTACT: Adrienne Wheeler 504-561-7312; firstname.lastname@example.org
June 28, 2019, New Orleans, LA – Louisiana Appleseed releases 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. The nonprofit worked in coordination with Voice of the Experienced, Louisiana Language Access Coalition, and volunteer attorneys from Polsinelli to research, collect, and analyze data regarding barriers to financial stability in low-income and communities of color within Louisiana. Louisiana Appleseed and project partners focused on two areas contributing to the racial wealth gap: (1) the use of high-cost financial products by low-income communities of color in Louisiana; and (2) the harmful debt incurred by low-income communities of color due to court fines and fees.
“Louisiana’s poverty rate is one of the highest in the country and is growing just as the racial inequality is worsening,” explains Louisiana Appleseed’s Program Director, Stephanie Beaugh. “This report highlights some of the greatest barriers to financial stability: predatory lending and debt caused by court fines and fees.”
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