Stop Payday Predators

The Problem
Payday lenders purposefully ensnare the most vulnerable people into taking on debt they can't escape. These legalized loan sharks collect 75 percent of their fees by charging an average 391 percent APR from people stuck taking out more than 10 loans a year. It's a debt trap.

The Solution
We can rein in the worst payday lending abuses with a proposed rule from the Consumer Financial Protection Bureau. Payday lenders are fighting to keep their unfair and abusive practices going. It's up to us to make sure the CFPB hears loud and clear that we need to stop the debt trap once and for all.

Subject: Attn: Docket No. CFPB-2016-0025