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.
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Rachel Walsh2024-12-13 15:02:572024-12-13 18:00:20NewDEAL Leaders Leading in in State Legislatures Across the Country
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Rachel Walsh2024-12-02 14:03:192024-12-02 17:18:49NewDEAL Leaders Resilient During Post-Election Conference
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Rachel Walsh2024-11-26 15:10:272024-11-26 15:10:27Clips from NewDEAL Conference on ABC’s The View
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Rachel Walsh2024-11-25 14:28:112024-11-25 14:29:15Buttigieg Urges Local Officials to Focus on the ‘Politics of the Everyday’
