THE ONE LESS FOUNDATION

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At The One Less Foundation we give our voice in support of initiatives and legislation that work to provide solutions to end poverty, that align with our mission, values and our work.


In the fall of 2016, the OCC (Office of the Comptroller of Currency) a federal financial regulator proposed a charter that would allow ‘fintech’ companies to operate and under a special federal charter that would allow them to avoid state regulations and laws that are currently in place and begin providing high cost payday lending products. We are working to make sure the OCC hears the voices of consumers, who are against the proposed charter. Sign your name  by January 17th to make your voice heard: #KeepTheFoxesOut


Read more on the OCC ‘Fintech’ charter proposal and the response and press release issued by our Payday Freelandia group and our official letter with our colleagues at Stop The Debt Trap.


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In June 2016, along with our collaborative partners at Stop The Debt Trap,we  launched a campaign to educate the public about the policy and consequences of the Lending industry and in particular Payday lenders, we’ve named ‘PinkLining’. Several of our partners produced a report that was sponsored by Congressman Keith Ellison (D-MN), titled “Pinklining: How Wall Street’s Predatory Products are Pillaging Women’s Wealth, Opportunities & Futures”. Read the full report


In addition to this report, we are collecting signatures and stories to take to the CFPB (Consumer Financial Protection Bureau) in the fall to ask the CFPB for tougher legislation and better enforcement of laws to protect the most vulnerable consumers from predatory practices. Learn more about the campaign and sign your name: #StopPinkLining - Campaign


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In September 2015, we joined with 49 other organizations from across the U.S. to request the Federal Insurance Office (FIO) establish affordability standards for automobile insurance for low and moderate-income Americans who need and rely on the use of private automobiles to get to employment and often higher paying jobs. Read more about the work ‘50 Groups call on Federal Insurance Office…’ on YubaNet.com and ‘Financial Services Roundtable…’ via Martindale.com  


Read the full letter to the FIO: Affordability Standards for Low and Moderate-Income Americans  


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In December 2014, we joined 186 other organizations from across the U.S. to comment on the Department of Defense’s (DoD) Proposed Rule regarding “Limitations on the Terms of Consumer Credit Extended to Service Members and Dependents” with a letter sent to the Secretary of Defense, Chuck Hagel. The letter requested that the DoD include additional measures to close loopholes in current laws (Fiscal Year 2007, Military Authorization Act see Sec. 670) that are meant to protect service members and their families from predatory lending.


Read the full letter to the DoD: December 2014 Military Service Member Letter


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In November 2014, our Executive Director attended to a small roundtable meeting with Richard Cordray, Director of the CFPB (Consumer Financial Protection Bureau) on pre-paid accounts, including mortgages and foreclosures, payday lending, prepaid cards, debt collection, credit reporting, student lending and more. She spoke to Director Cordray, about the experiences of Philadelphians, offered suggestions for legislation, and reminded him and his staff of the need for further protections for children and teenagers in foster care who are often victims of crime related to pre-paid accounts in their names, even though they are not legally able to enter into these agreements.


Read her full remarks from the public session: TOLF Statement on Pre-Paid Accounts

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In March 2014, our Executive Director attended the President’s Council on Financial Capability for Young Americans at the U.S. Treasury Department in Washington D.C. Panelists’ discussed the reason the council was convened and the importance of non-profit organizations, schools and institutions working to assist in preparing children and young adults becoming fully capable of understanding and demonstrating their knowledge on finances as it pertains to their lives.

We are conducting a survey of adults in the Philadelphia metro area and their financial knowledge and habits and attitudes and experiences with education, particularly higher education.


Please take a moment to complete our survey below:


2015 Personal Finance and Education Survey

Additional Information


Poor Pay More for Auto Insurance - Bankrate.com, 2012


Service Members Left Vulnerable to Payday Loans - NY Times, 2013


Payday Loans: Big Business for Them, Headache for You - Military.com, 2014


End Payday Lending Traps - The Courier-Journal, 2015


CFPB Proposes Sweeping New Regulations for Prepaid Products - The National Law Review, 2014


Hey PA Legislators: It’s Time to Address Financial Literacy in the Classroom - Philadelphia Business Journal, 2014


Financial Capability for Youth: Batteries Not Included, Adult Assembly Required - Huffington Post, 2014


Financial Literacy Can Alleviate Poverty - Miami Herald, 2014