The Savings for Working Families Act (SWFA) ensures that our nation’s savings and ownership policies assist working-poor families by enabling them to save, build wealth, and enter the financial mainstream through the use of a financial product tailored to their needs: individual development accounts (IDAs).
SWFA would make IDAs available to 900,000 low-income Americans. IDAs are matched savings accounts that help low-income families build appreciating assets and become financially self-reliant. The…
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Posted: August 26, 2008 at 3:50 pm | Legislation, Past Federal Issues
This bill would put teeth into the Arkansas Constitution’s usury limit of 17% annual interest on consumer loans, which was adopted by the people of Arkansas in 1982 as Amendment 60 to our state Constitution.
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Posted: August 26, 2008 at 3:05 pm | All, Legislation, Past State Issues
SECTION 1. This act shall be known and may be cited as the “Family Savings Initiative Act”.
SECTION 2. The purpose of the Family Savings Initiative Act is to provide for the establishment of individual development accounts designed to:
- Provide individuals and families with limited means an opportunity to accumulate assets;
- Facilitate and mobilize savings;
- Promote home ownership, microenterprise development, education, saving for retirement, and automobile purchase; and
- Stabilize families and build communities.
SECTION…
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Posted: August 26, 2008 at 2:54 pm | Legislation, Past State Issues