Ohio Governor Ted Strickland signed legislation that will cap interest rates on payday loans to 28 percent, compared with current rates that approach 400 percent. MacArthur grantee the Center for Responsible Lending provided technical assistance, research, and strategy guidance to the nonprofit Ohio Coalition for Responsible Lending, which led the three-year campaign for the law. The Center for Responsible Lending is associated with the Center for Self-Help, a long-time borrower from MacArthur's Program-Related Investments.
Community & Economic Development
Helping to increase social and economic opportunities for low-income Chicagoans, MacArthur supports the New Communities Program, a comprehensive community revitalization effort in 16 Chicago neighborhoods, as well as communication of its lessons learned to other cities and the field.