Dec 30, 2020 | Public Policy Blog
By Janie Ginocchio We’ve recently talked about taking advantage of a new savings opportunity in Arkansas by using split direct deposit for state tax refunds, and in previous blog posts we’ve talked about making a New Year’s resolution to save as well as best practices...
Dec 22, 2020 | Public Policy Blog
By Janie Ginocchio On Dec. 21, Congress passed a pandemic relief and economic stimulus bill that includes $12 billion for Community Development Financial Institutions (CDFIs) and Minority Deposit Institutions (MDIs) to help ensure funding reaches very small businesses...
Dec 18, 2020 | Public Policy Blog, Tax-time Savings
By Janie Ginocchio In April 2019, we announced that Gov. Asa Hutchinson signed Act 774 of 2019, which required two direct deposit lines on the state income tax form so you could split your state refund into two bank accounts. This year, we facilitated the passage of...
Dec 15, 2020 | News, Press Releases
Little Rock, Ark. – Southern Bancorp Community Partners (SBCP), a 501(c)(3) loan fund and Community Development Financial Institution (CDFI) announced today that it has received a $2 million gift from philanthropist MacKenzie Scott. SBCP serves economically...
Dec 8, 2020 | Debt and Abusive Debt Collection, Press Releases, Public Policy Blog
LITTLE ROCK, ARK – Southern Bancorp Community Partners (SBCP) recently published Deferred Dreams: How Unmanageable and Abusive Debt Hinder Savings and Economic Security in Mississippi, a policy brief that explores how historic levels of debt have proved an impediment...
Oct 16, 2020 | Financial Fitness Blog
By Charlestien Harris Right now the housing market is booming and a lot of people are shopping for a mortgage. Low interest rates and more options for refinancing are driving the market. This process can be stressful and time-consuming, especially if it’s...
Aug 2, 2020 | Financial Fitness Blog, Housing Counseling
Thanks to low mortgage interest rates, for some buyers this is the perfect time to think about purchasing a home. The best time to take a homebuyer education class is when you are starting to consider buying a home, not after you’ve already signed on the dotted line....
Jul 22, 2020 | Financial Fitness Blog, Housing Counseling
By Charlestien Harris The stress of not being able to make mortgage payments and other financial obligations because of the pandemic or any hardship can be overwhelming, but sometimes just knowing where to turn for help can give us a sense of relief. The CARES...
Jul 8, 2020 | Public Policy Blog, Tax-time Savings
Mississippi Governor Tate Reeves signs a proclamation designating Mississippi Saves Week. Last week, Governor Reeves signed HB 597 into law, adding a second line for savings for the 2021 tax year. By James Owen Mississippians have a powerful new tool to save money,...
Jul 8, 2020 | Payday Lending, Public Policy Blog
On July 7, the Consumer Financial Protection Bureau (CFPB) announced that it had revoked the mandatory underwriting provisions of the 2017 Payday Lending Rule. This removed the requirement that payday lenders first determine a potential borrower’s ability to repay...
