Fact Sheets
Our fact sheets are intended to provide quick, accessible information in a visually compelling format. They are often summaries of longer research reports and policy briefs. Please feel free to download and share. Have an idea for a factsheet on wages, job quality, poverty, or another topic? Let us know!
Indiana TANF Grant Has not Increased to Meet the Growing Cost of Basic Needs
Cash assistance benefits have far less purchasing power than in 1988, as the cost of basic items have increased and benefits have lost more than half of their value to inflation.
MARCH 2023
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Predatory Lending
The 2022 Indiana General Assembly has proposed SB 352 Supervised consumer loans. (Click image to enlarge.) The following describe the details of the current/Senate passed bill:
- The bill permits loansharking. Lenders who offer these loans are exempt from prosecution under the criminal loansharking statute.
- This is not a payday lending bill, and SB 352 does not replace the payday lending statute.
- SB 352 increases the cost of existing subprime installment loans through higher finance charges & fees.
- The bill is a misguided attempt to address problematic online and out-of-state lenders.
- The maximum allowable fees provide an incentive for lenders to push borrowers into larger loans and to refinance existing loans as many times as possible.
- Borrowers will need multiple loans through multiple lenders to meet larger credit needs. Loan stacking would substantially raise the cost of credit.
- The bill does not contain strong guardrails to ensure a borrower can actually repay the loan.
- The bill does not require lenders to report loans to credit bureaus, meaning borrowers receive no credit for successfully repaying a loan and demonstrating creditworthiness.
- The bill allows lenders to charge additional fees on credit insurance that are not subject to the maximum charge limitation.
JANUARY 2022
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Debt in Indiana
Hoosiers already have significant debt and do not need a new predatory loan product that would put them deeper in debt. In 2019, the median net annual income of subprime online borrowers was $36,000 and of subprime storefront borrowers was $21,888. The fact sheets below show the number and share of Hoosiers with income below $35,000, the share of Hoosiers with a debt in collections, and the median amount of debt in collections.
House Financial Institutions and Insurance Committee Members:
- Chair, Martin Carbaugh, District 81 | PDF
- Vice Chair, Jeff Ellington, District 62 | PDF
- Bruce Borders, District 45 | PDF
- Robert Heaton, District 46 | PDF
- Matt Lehman, District 79 | PDF
- Peggy Mayfield, District 60 | PDF
- Wendy McNamara, District 76 | PDF
- Donna Schaibley, District 24 | PDF
- Heath VanNatter, District 38 | PDF
- Ranking Minority Member, Terri Jo Austin, District 36 | PDF
- Chris Campbell, District 26 | PDF
- Gregory Porter, District 96 | PDF
- Robin Shackleford, District | PDF
House Members:
Speaker of the House, Todd Huston, District 37 |PDF
January 2022
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Indiana TANF Grant Has not Increased to Meet the Growing Cost of Basic Needs
Cash assistance benefits have far less purchasing power than in 1988, as the cost of basic items have increased and benefits have lost more than half of their value to inflation.
MARCH 2021
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TANF: 10 Critical Things to Know
2021 | 1 page
TANF (Temporary Assistance for Needy Families) needs an update if it's going to be a viable source of support for Hoosiers. Here are 10 things you need to know.
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Student Loan Debt in Indiana
2021 | 2 pages
When Hoosiers pursue their dreams of higher education, we all benefit. Unfortunately, the cost of getting an education has left far too many Hoosiers with burdensome debt that holds them back. We need to address college affordability and student loan debt to allow more Hoosiers to develop their potential and contribute to our communities without struggling to get by.
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Analysis of SB 613
2019 | 1 page
SB 613 would have made massive changes to Indiana's lending laws, opening the floodgates to high-cost lenders. See also this NCLC/CRL policy brief.
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Status of Working Families 2018
2018 | 1 page
Indiana once was a leader in the Midwest in income, poverty, employment rates, and more. Now, with declining standard of living, it faces a choice: continue the low-road policies that brought us here, or focus on policies for working families that will restore broad-based economic prosperity.
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Welfare Myths: Busted!
2017 | 1 page
When it comes to programs like Temporary Assistance for Needy Families, myths abound. Learn the facts about how many people receive cash support in Indiana, what it takes to qualify for the program, and how much cash the typical program participant actually receives. Then, share with others!
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Pregnancy Accommodations in the Workplace
2017 | 2 pages
More and more women are working throughout pregnancy, but pregnant women still face high levels of workplace discrimination. Accommodating reasonable requests - to sit, to carry a water bottle - can make it possible for women to work safely and productively throughout pregnancy.
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It's Time to Stop the Debt Trap
2017 | 2 pages
Payday loans in Indiana are costly and trap low-income borrowers in a cycle of debt. The typical borrower takes 9 or 10 loans a year, paying over $400 to re-borrow a $300 loan. This has ripple effects on local economies.
Polling shows strong support for a 36% rate cap on payday loans.Many organizations support a rate cap of 36%.
SB 613 would open the floodgates to predatory lending.
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Indiana Must Raise the Minimum Wage
2016 | 1 page
In Indiana, $7.25 an hour will not provide enough income for even a single adult to support themselves in any county. If lawmakers want Hoosiers to be self-sufficient, they must raise wages.
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The Status of Women in Indiana
2015 | 2 pages
Despite declining unemployment, women - and particularly single mothers - are still struggling.
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