Jubilee USA's Campaigns Director Andrew Hanauer was in Georgia last Friday to meet with Christian, Jewish and Muslim community leaders and to speak at Friday night services at Temple Beth Tikvah in Roswell (pictured). Georgia is one of a number of states where Jubilee USA is actively growing its grassroots base - and where faith communities of all types are organizing together to build an economy that serves, protects and promotes the participation of the most vulnerable.
Please let us know if you're interested in Andrew or other Jubilee staff visiting your community or working with you to grow Jubilee in your areas. Feel free to email Julia Rosenberg at firstname.lastname@example.org we will be in touch with you.
Fair Share's Nathan Proctor published an opinion piece on Boston's NPR website connecting the opioid epidemic in the United States to the problem of anonymous shell companies, used to launder money and finance crime. Jubilee USA works to stop money laundering and corruption by supporting policies that give law enforcement access to the names of the true owners of these anonymous companies.
As Nathan puts it, "As we fight to save lives from opioids, we should leave no stone unturned — which should include the rocks under which drug cartels hide their money."
In March, a California Superior Court judge ruled Corinthian Colleges, a for-profit company offering postsecondary education through its Heald, Everest and WyoTech schools, had misrepresented its programs, job placement rates, and debt collection practices. The company, which filed for bankruptcy in May of 2015 and is now defunct, was levied with more than $1.1 billion in fines and restitution.
Jubilee USA works to stop predatory student lending practices and supports policies that promote responsible student lending and borrowing.
“Predatory financial behavior should not be part of our higher education system,” said Andrew Hanauer, Jubilee USA’s Campaigns Director. "Promoting responsible student lending and borrowing isn't just good for our students, it benefits our entire economy."
In response to the ruling and the closure of Corinthian campuses, the U.S. Department of Education in June proposed new regulations that would allow student borrowers relief from repayment of loans taken based on misleading information from a school or university. A final rule is expected later in 2016.
The Dept. of Education also established the Student Aid Enforcement Unit to resolve student claims of misrepresentation by higher education institutions.
Sasha Orloff, CEO and co-founder of the financial services company LendUp, wrote an op-ed in The Hill detailing his support for new proposed regulations on “payday” lending. The Consumer Financial Protection Bureau (CFPB) proposed a rule that promotes responsible lending and borrowing to vulnerable consumers who are unable to repay short-term and high cost loans.
LendUp would be affected by the CFPB's proposed rule, but they view the rules as necessary restrictions to encourage responsible lending and borrowing. LendUp offers small-dollar, short term loans, but says on its website that it promotes "sustainable" lending practices to avoid trapping consumers in cycles of debt. LendUp says it decreases a customer’s interest rates over time to reward repayment and responsibility, "graduating" borrowers into financial security.