Rhode Island Senate refuses to take up predatory lending reform

Photo of screen in Rhode Island House of Representatives showing passage of payday lending reform

“Poverty isn’t simply the condition of not having enough money. It’s the condition of not having enough choice and being taken advantage of because of that.”

Matthew Desmond, Poverty, by America

As they say, there’s good news and there’s bad news.

The good news — amazing, really! — is that last Thursday, the Rhode Island House of Representatives passed by a vote of 70-2 H5160 to cap payday loan interest at 36%. This marks the first time that either legislative chamber brought this important legislation to a floor vote. Thank you to Representative Karen Alzate for her sponsorship of the legislation, Speaker Joseph Shekarchi for putting it to a floor, and all of the representatives who stood up for economic justice!

The bad news is that the Senate, under the leadership of President Dominick Ruggerio, declined to pick up the bill. Yet again, Rhode Island has sent the message that our state is open for unscrupulous and predatory lenders to exploit poor and working class Rhode Islanders by charging exorbitant interest rates and trapping them in cycles of debt while draining millions of dollars in fees from our neighborhoods.

We’re disappointed by the ultimate outcome but encouraged by this year’s progress. We’ll be back next year with the Rhode Island Coalition for Payday Reform to demand action.

Independents Month 2023

Indie Local digital badges

July is Independents Month! 

Independents Month celebrates independent, locally-owned businesses and the community values they embody:

  • Their spirit of entrepreneurship, individuality, uniqueness, and character
  • How they give back to our community with their time, talents, goods, and services
  • How they fulfill community needs that make us healthier and wealthier

Call to Action!

Independents Month is a fabulous time to:

  • Learn about what’s available locally
  • Consider the consequences of your choices
  • Shift some of your spending to align with your values

You can join us by taking the Indie Pledge to shift 25% of your spending to independent, locally-owned businesses in the month of July.  

Proudly proclaim your independence! If you take the Indie Pledge, you receive a digital badge to share far and wide, loud and proud. If you’re a local, independent business, we’ve got a digital badge and window sticker for you; just contact jessica@localreturn.org

Why buy local? 

  1. Money: When we shop local, money stays in our local economy longer and does more good. For every $100 you spend at a locally-owned business, an average of $68 stays in the local community. Compare that to just $43 for a big box store.
  2. Jobs: Local businesses = local jobs. Small businesses are the state’s largest employer. They hire our neighbors, family members, and friends.
  3. Charm: Local businesses shape the character of our communities. They make our places unique and interesting.
  4. Climate: Buying local is good for the environment. It means less resources and energy were used to transport goods.
  5. Community: Local businesses are more inclined to give back to the local community — think Little League teams, raffle donations, and charitable giving — because they are part of the local community. They donate almost 2.5x more per employee than national chains.
  6. Trust: It feels good to do business with someone you know.

With every dollar we spend, we can keep money multiplying in the local economy. 

Shop independent and local this holiday season

It’s hard to be believe, but the holidays are once again upon us. As you’re finalizing your celebrating and gift-giving plans, why not make a pledge to support independent, local businesses whenever possible?

We can’t forget that every dollar we spend has impact. When we buy from locally-owned, independent businesses, our money does more good for our local community. There are a lot of good reasons to buy local. Here are six of our favorites: 

  1. Money: When we shop local, money stays in our local economy longer and does more good. For every $100 you spend at a locally-owned business, an average of $68 stays in the local community. Compare that to just $43 for a big box store. 
  2. Jobs: Local businesses = local jobs. Small businesses are the state’s largest employer. They hire our neighbors, family members, and friends.
  3. Charm: Local businesses shape the character of our communities. They make our places unique and interesting. 
  4. Climate: Buying local is good for the environment. It means less resources and energy were used to transport goods. 
  5. Community: Local businesses are more inclined to give back to the local community — think Little League teams, raffle donations, and charitable giving — because they are part of the local community. They donate almost 2.5x more per employee than national chains. 
  6. Trust: It feels good to do business with someone you know. 

With every purchase you make, you can strengthen the Rhode Island economy. That’s a lot of power; wield it wisely!

If you’re looking to show some support beyond your wallet, here are a few ways:

  • Friday, November 25 is Plaid Friday. That’s right; we’re taking back Black Friday. Wear plaid to support your locally-owned, independent businesses. Share a pic of yourself on social media using #plaidFriday and #ShopIndieLocal with a few words about why you shop local.
  • Saturday, November 26 is Small Business Saturday. Remind everyone you know!
  • Tuesday, November 29 is Giving Tuesday. It’s a great time to make a few year-end charitable donations to your favorite nonprofit organizations.

Looking for some good options on how/where to spend locally this holiday season? We’re compiling a list of the local markets. (If your community is hosting a market that we’ve missed, please email jessica@localreturn.org to let us know.)

Shop Indie Art

Shop Indie Art

October is Shop Indie Art Month. Local artists make our local places special. They help us reflect, observe, capture, provoke, mourn, and celebrate. They’re also a major economic force. By supporting local artists, you’re contributing to the local economy and the community.

Related: Why buy local? 
Related: 10 Reasons to Support the Arts from the Americans for the Arts Action Fund

Rhode Island, this is your time to shine! Who has more creative talent than us? Plus, in Rhode Island, you can buy original and limited edition art tax-free. Share on social media using #ShopIndieArt and one of our graphics.

If you’re looking to support local talent, here are just a few places to look. (Let us know who we missed!)

Collectives

Theaters

Venues for Performing Artists

Artisan Markets

Makers

Authors

#ShopIndieArt graphics

It’s Local Social time again

Local Social is November 2 at Apponaug Brewing in Warwick

Interested in local economies and investing? Come on out to our next Local Social at Apponaug Brewing on Wednesday, November 2, at 5:30 p.m. You’ll meet some fun people, drink local beer, and enjoy sparking conversation on the banks of the beautiful Pawtuxet River.

Apponaug Brewing is located at 334 Knight Street in Warwick. Email jessica@localreturn.org for more information. See you then!

Meet Kritika and Kiera, our Learning Fellows

This summer, Local Return is thrilled to have on our team two Learning Fellows through the Swearer Center at Brown University. Kiera Walsh and Kritika Shrivastava are working with us to mine research and data around community wealth, investment ecosystems, and economic self-reliance. They’re enthusiastic and diligent scholars, passionate about our future. Please welcome Kritika and Kiera!  

Our next Local Social

Local Social is August 24 at 5:30 p.m. at Hope & Main

Interested in local economies and investing? Come on out to our next Local Social at the Schoolyard Market at Hope & Main on Wednesday, August 24, at 5:30 p.m. The market features live music, vendors, and food and beverage trucks. You’ll meet some fun people, experience beautiful Warren, AND support a whole bunch of locally-owned businesses at once.

Hope & Main is located at 691 Main Street in Warren. It’s accessible by RIPTA #60 and just off the East Bay Bike Path. There is ample parking across the street in the Franklin Street parking lot.

Email jessica@localreturn.org for more information. See you then!

July is Independents Month!

Celebrate your independents! Image from AMIBA

From July 1 to July 31, Independents Month celebrates independent, locally-owned businesses and the community values they embody:

  • Their spirit of entrepreneurship, individuality, uniqueness, and character.
  • How they give back to our community with their time, talents, goods, and services.
  • How they fulfill community needs that make us healthier and wealthier.

Why independents?

Every $1 we spend has consequences. When we choose to buy from locally-owned businesses, our money does more good for our local community.

Independents Month is a good time to learn about what’s available locally, consider the consequences of your choices, and shift some of your spending.

Meet our Neighborhood Champions

Local people know their communities the best, and they know who and what make it special. For Independents Month, Neighborhood Champions (list updated throughout the month) are spotlighting local businesses they love in their places.

Are you a Neighborhood Champion?

It’s super easy to participate. Just tell us about a few businesses that make your community great. Get your suggestions in ASAP.

Meet Sandra Enos, Neighborhood Champion

Neighborhood Champion Sandra Enos: "Wakefield is really blessed to have so many exceptional businesses in such a small space."

Sandra Enos, a recently retired sociology professor, has her own small business. Giving Beyond The Box curates gift boxes that feature local enterprises, BIPOC- and woman-owned businesses, Providence-based artists, and local farmers.

Sandra’s local champions are located in downtown Wakefield, Rhode Island. They are all within about 500 feet of each other. Sandra said, “Wakefield is really blessed to have so many exceptional businesses in such a small space.” Each of these businesses brings energy, vitality and community to the downtown area.

  • Brickley’s has been voted one of the best places for ice cream in the state. Sandra knows someone who has licked his way through all of their flavors over the course of one summer. (This is the kind of goal we can get behind. 🍦)
  • South County Bread Company is the newest arrival with a collection of wonderful breads, baguettes, croissants and sweets along with new inventions all the time.
  • The Contemporary Theater features theatrical productions, as well as a a vibrant improv community. They recently hosted the Ocean State Improv Festival which brought performers from New York, California, Minnesota, and elsewhere. They also offer classes for children and adults.
  • Duck Press features an eclectic menu and a small cafe atmosphere. It is a great place for a special dinner. Sandra says she has never ordered the same thing twice because their new dishes are always so tempting.

Thank you, Sandra, for being a Neighborhood Champion! Rhode Island, get out there and explore Wakefield.