#MFusa2010 Blogger Alan Pruitt and Mr. Martin Eakes – May 20, 2010

#MFusa2010 Mr. Martin Eakes May 20, 2010

ECONOMIC JUSTICE

Martin Eakes, CEO of North Carolina based Self-Help.org and the Center for Responsible Lending delivered the Opening Address at this morning’s Microfinance USA 2010 event.

Following the “Conversation with Maria Shriver”, Martin delivered a compelling case for “economic justice” in today’s world of lending and entrepreneurship.

Martin’s description of his background and life lessons establishing the Self-Help in North Carolina presented a perfect backdrop for his call-to-action for “economic justice” and sacrifices that must be made by borrowers and lenders alike.

Martin recounted many instances of barriers to lending (actually borrowing) that were constantly undermined by social and economic pressures of demographics that were intent on sabotaging the rights of those seeking to rise above the “economic norm” of poverty and regressive social policies of the Rural South.

Another aspect of economic justice Martin mentioned was check cashing and payday-lending businesses that really hurt local economies. Predatory lending costs Americans billions of dollars annually, through abusive subprime mortgage loans, payday loans, tax refund loans, and other lending scams.

In closing, Martin reminded audience members that 3 action steps must be taken to ensure economic justice: #1 – Create a community that fosters economic justice; #2 – It is our duty and privilege to fight for (economic) justice; and # 3 – self-sacrifice can lead to (economic) healing in our country. Best take away comment that Martin provided: ”Money (lending) without vision is not worth anything at all.”, and “Let this gathering (#MFusa2010) be a starting point for fighting for economic justice.”

Meeting Martin after his presentation and speaking to him briefly confirmed my impression that he is a revolutionary thought leader (maybe a “linchpin”, as described by Seth Godin in the book by the same title) for the microfinance community and a defender of consumers — regardless of their social-economic status or demographic.

But unfortunately, humans will feel safer with the status quo, (i.e., predatory lending, un-banked habits, and lack of “financial” focus) rather than follow the courageous and sound recommendations of a giant mind like Martin Eakes.

Follow Martin Eakes @CRLONLINE (Center fo Responsible Lending)

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@alanpruitt is the Director of the Western Arizona Economic Development District that provides economic development services to rural communities in La Paz, Mohave, and Yuma counties in Arizona.

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