• EMPath
  • Centerboard
  • Action for Boston Community Development
  • Compass Working Capital
  • Berkshire Community Action Council, Inc.
  • Jewish Vocational Services
  • Urban Edge Housing Corp
  • Jamaica Plain Neighborhood Development Corporation
  • Asian American Civic Association
  • Travelers Aid Family Services
  • Dorchester Bay Economic Development Corporation
  • Heading Home
  • Quaboag Valley CDC
  • Moving from Debt to Assets
  • Madison Park Development Corporation
  • Center for Women and Enterprise
  • Codman Square NDC
  • Lawrence Community Works
  • One Family Inc.
  • FamilyAid Boston
  • La Vida
  • The Community Builders Inc.
  • Financial Education Associates
  • Springfield Partners for Community Action
  • YWCA-Boston
  • MAHA (Massachusetts Affordable Housing Alliance)
  • Empower Yourself
  • Cambridge Economic Opportunity Committee
  • Somerville Community Corporation
  • Cambridge Housing Authority
  • Homeowner's Rehab, Inc
  • Massachusetts Museum of Contemporary Art
  • Beverly Bootstraps
  • More Than Wheels
  • Jewish Family and Children’s Services
  • DotWell
  • Allston Brighton CDC
  • The Neighborhood Developers
Our Work

Systems Change, Public Policy, & Consumer Financial Protection

Changing systems to provide equal economic opportunity for all.

The Midas Collaborative, with its many partners and members, educates and advocates for policy change at both the state and federal levels. 

Proposed state and federal policies to protect communities and individuals draw on the grassroots experience of member organizations in asset building and protection against high-cost predatory financial lenders, products and services.

Midas investors and community partners are the voices in these legislative policy discussions, connecting personal finances with public policy. These discussions provide opportunities for leadership for the whole Midas team to promote economic policies that affect our communities.

Our fundamental concern, the potential for economic and political marginalization of our target population, which subsequently results in a permanent under-class and a political system that is unresponsive to the needs of the working poor, drives our policy and advocacy efforts at the following legislative levels:

 

State Policy

Read more about our current priorities here and learn more about the Debt Collections Fairness Act. To see the latest state policy activities, see our e-newsletter

At the state level, Midas engages in policy discussions on topics such as supporting personal savings, consumer financial protection, financial education, and reducing inequality while leading and supporting coalition work. Many of our priorities date back to our work in forming and providing staff support for the Massachusetts Asset Development Commission. Our outreach includes coalition actions, e-mail and social media outreach, and earned and paid media. Current legislative partners include Greater Boston Legal Services, EMPathNational Consumer Law Center, and Jewish Community Relations Council

Recent Successes:

  • MassSaves Day on the Hill in support of quality financial education for youth 
  • Massachusetts Earned Income Tax Credit (EITC) raised 50%, increasing income for over 430,000 low-wage workers.
  • Midas served on the State Treasurer’s Financial Literacy Task Force to promote and inform financial education delivery initiatives.
  • With partners in Raise Up Massachusetts:
    • Earned sick time law implemented despite opposition, increasing financial  stability of nearly 1 million Massachusetts workers,
    • Midas volunteers collected signatures in support of a constitutional amendment to change the tax structure to boost investments in education, infrastructure and transportation.
  • Protection for low income residents against abusive debt collection,
  • Increased state regulation of for-profit career schools.

Our policy priorities are informed by benchmarks our national partners, Prosperity Now, in the Assets & Opportunities Scorecard. Midas is the Massachusetts state leader for the Prosperity Now Community Network.

We work with organizations, agencies, and other stakeholders in consumer financial protection to promote a safe economy; The Federal Reserve Bank of Boston, The FDIC, the US Consumer Financial Protection Bureau, the National Consumer Law Center, the Center for Responsible Lending, the Massachusetts Office of the Attorney General, the Office of the State Treasurer, the Mass Office of Consumer Affairs and Business Regulation, and many others. 

Recent partnerships included membership to the Color of Wealth Working Group. The group focused on reducing the racial wealth gap and was convened by the Federal Reserve Bank of Boston. The group was created as a follow up to the The Color of Wealth report that highlighted wealth disparities in the Greater Boston area. 

To find your elected officials please visit www.wheredoivotema.com.

Federal Policy

On the national level, Midas is a Prosperity Now Community Partner with our national partner; Prosperity Now.  Midas utilizes social media platforms daily to raise awareness on subjects related to national policy and program innovations.

With national partners, we’ve been successful in:

  • Engaging with Massachusetts delegation and the CFPB to end payday lending abuses
  • Educating state legislators and the public on a host of financial security bills, now pending
  • Releasing the Assets & Opportunity Scorecard for Mass. prepared by Prosperity Now to raise public awareness

To review Prosperity Now's policy agenda, please click here