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Predatory lending
Momentum builds in State Capitols and in DC to rein in predatory payday lending
March 18, 2021
At the federal level, lawmakers are expected to re-introduce a payday lending bill that would give both consumers and military veterans the same 36% rate protection as the Military Lending Act (MLA). Named the Veterans and Consumers Fair Credit Act, the measure is hoped to secure the same broad and bipartisan support that MLA received.   ... read more »
New State Law Restricts Payday, Other “Debt Trap” Loans
October 24, 2019
Critics say lenders who offer these high-interest loans target disadvantaged people, large numbers of them Black and Brown consumers ... read more »
102 House Members Rebuke Delay of Payday Loan Rule Waters Led Effort Supported by Many CBC Members
September 5, 2019
Anyone who struggles with the rising costs of living knows all too well how hard it is to try stretching dollars when there’s more month than money in the household. Predatory lending, like payday and car-title loans, worsen financial stress with triple-digit interest rates that deepen the debt owed with each renewal.    ... read more »
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