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Petition: Stop predatory payday lenders!


You choose: a high interest payday loan or homelessness…

It’s not really much of a choice is it?

Sadly, far too many families are trapped in an endless cycle of debt, relying on payday loans to cover their basic needs.

Many states, like Oregon, have aggressive laws to protect against abusive payday lending practices.

But online and offshore lenders are using loopholes to get around those laws.

They subvert the law by hiding behind layers of anonymously registered websites and using third parties to promote their predatory products. Then they use various deceptive methods to get access to their customer’s bank accounts, racking up bank fees and building up more debt.

These deceptive and abusive practices must be stopped!

I’ve introduced the SAFE Lending Act to protect consumers and crack down on some of the worst abuses in the industry. We can make sure consumers have control of their bank accounts by requiring lenders to follow state laws, banning automatic withdrawal of payments without consumer consent, and preventing lenders from hiding behind anonymous websites.

Please sign the petition: let’s stop deceptive practices by payday lenders!

Thank you for standing up for consumers and working families!

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Posted on July 11, 2016.