Historic Opportunity to End Predatory Payday Lending

Across the country, payday and car-title lenders extract billions of dollars a year from people who are struggling to get by. They do it with deceptive, triple-digit-interest loans that trap people in a cycle of debt.

Now, at long last, there’s a chance to do something decisive about this problem. The Consumer Financial Protection Bureau (CFPB), the agency conceived by Senator Elizabeth Warren and brought into being by the Dodd-Frank financial reform law, is preparing to regulate payday, car title and other high-cost consumer loans. But we need members of Congress to voice their support.

Please ask your Senators and Representatives to get behind the CFPB’s efforts by speaking up for strong action against debt-trap loans.

The payday lenders and their allies are going all-out to stop the CFPB from taking effective action, and, sadly, some lawmakers are trying to put roadblocks in the Bureau’s path. That’s why it’s essential for the Bureau to hear from our side.

Sincerely,

Gynnie Robnett
Americans for Financial Reform

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Sent by Americans for Financial Reform
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