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!

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:A chart in red and blue describing Senate Bill 352

  • 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. 

Fact sheet for SB 352 (2022) | Download PDF 

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

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

Download the PDF (2 pages)

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!

Download the PDF
 Welfare Myths Busted

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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 Pregnancy Accommodations in the Workplace

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.

Download the PDF
 It's Time To Stop the Debt Trap

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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 Indiana Must Raise the Minimum Wage

The Status of Women in Indiana

2015 | 2 pages

Despite declining unemployment, women - and particularly single mothers - are still struggling.

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 The Status of Women in Indiana

 

 

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