Fight back against predatory payday lenders. Stand with Elizabeth Warren not Donald Trump
We have to decide if we are the party of Elizabeth Warren and the Consumer Financial Protection Bureau or predatory loan sharks. Sign our petition now to tell Debbie Wasserman Schultz to stop standing with these immoral payday lenders.
We know that the most vulnerable among us were hit the hardest during the 2008 financial crisis. Millions of people lost their jobs, their homes, and their bank accounts. That’s enough to make you sick to your stomach. But for many, it got worse.
Predatory payday lenders stepped in to profit during the financial crisis. They targeted poor communities — and people without access to credit from banks — by offering them short-term loans at sky high interest rates.
On an annual basis, these companies charge late fees and rates as high as 300 to 400% and many companies have even charged up 1,900% interest on loans, which is obscene. Worse, they target people — particularly people of color — who are unable to pay the loan back. If they fall behind, they are offered another payday loan to help cover the cost of the prior payday loan, while fees and percentages get higher and higher, trapping them in an process that never ends.
So why, then, is Debbie Wasserman Schultz introducing legislation in Congress to deregulate an industry that is already profiting from ripping off millions of Americans? Why is she fighting against Elizabeth Warren and the Consumer Financial Protection Bureau, who are attempting to protect our neighbors from the worst abuses by payday lenders?
Stand with Elizabeth Warren and victims of payday lending by signing our petition today telling Debbie Wasserman Schultz to stop propping up immoral payday lenders:
|"Stop propping up predatory payday lending agencies, and start standing up for the people!"|