Problem
Currently, Texas has one of the largest unbanked and underbanked populations in the country. A lack of access to financial institutions hinders families from being able to build credit and savings, and local businesses aren’t able to obtain the loans they need to build their small businesses.
Solution
Representative Eric Johnson has enacted legislation in Texas creating Banking Development Districts to help increase access to financial services in the areas that need it most. The legislation allows local governments and the state to seed new bank branches in these underserved areas with deposits from the city treasury. Building on similar efforts in other states, Johnson’s bill allows credit unions in addition to banks to establish themselves in these banking development districts, increasing the projected scale of impact.
https://newdealleaders.org/wp-content/uploads/2024/10/clay-banks-BY-R0UNRE7w-unsplash-1.jpg
1024
1280
Rachel Walsh
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Rachel Walsh2024-11-07 01:14:022024-11-07 01:14:47NewDEAL Statement on Presidential Election: The Voters Have Spoken, and the Work Continues, Says NewDEAL CEO Debbie Cox Bultan
https://newdealleaders.org/wp-content/uploads/2020/01/anchia.jpg
326
300
Rachel Walsh
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Rachel Walsh2024-11-04 17:27:262024-11-04 17:27:26Reproductive Rights Are a Five-Alarm Fire. State Legislators Must Act.
https://newdealleaders.org/wp-content/uploads/2022/12/Brinks-e1676314468480.jpg
456
500
Rachel Walsh
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Rachel Walsh2024-11-04 17:25:452024-11-04 17:25:45Opinion: The Inflation Reduction Act is helping us build a stronger, cleaner Michigan
https://newdealleaders.org/wp-content/uploads/2021/05/Smathers.jpg
1239
1239
Rachel Walsh
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Rachel Walsh2024-11-01 18:00:012024-11-01 18:00:01Perseverance and Patriotism in Western North Carolina as Election Approaches
