TWEET PAYDAY for the State of the Union

HI ALL! Are you watching the State of the Union tonight? We are, and we hope to hear a strong message from the President on a stable and secure economic future for Americans. Of course, one big factor for families across the country is the crippling effect of predatory lenders. Throughout the night the White House will be taking questions …

Stop the Payday Loan Debt Trap Update – Jan. 20

PAYDAY MESSAGES TO DIRECTOR CORDRAY UNDERWAY! Below are the first appeals in a series of messages we will be sending to the Consumer Financial Protection Bureau (CFPB). These messages are great – coming from activists and advocates around the country and calling for strong regulation of payday, auto title and installment lenders. The CFPB is on the front lines of …

Payday Messages to Cordray Underway!

Hello! See below the first appeal in a series of messages we will be sending to the Consumer Financial Protection Bureau (CFPB). These messages are great – coming from activists and advocates around the country and calling for strong regulation of payday, auto title and installment lenders. The CFPB is on the front lines of Payday Lending Reform and we …

Stop the Debt Trap, Holiday Update – Dec. 22

This time of year, the windows of payday lenders scream things like “Easy Christmas Cash”. The truth is, it’s not easy. Many Payday Lenders use advertising like this to deceive consumers into starting a cycle of debt that will last long after the Holiday Season. With loans averaging 391% annual interest, the average borrower is indebted for more than half …

Stop the Debt Trap Update – Dec. 12

SHAY FARLEY from ALABAMA APPLESEED Last week, a rare occasion presented itself and I joined AFR and consumer advocates from 8 other states (AL, AZ, MD, NC, NJ, NY, OH, TX, and VA) in meeting with the CFPB Director, Richard Cordray, and 20+ Bureau staff members. Our discussion primarily focused on the highly-anticipated CFPB payday loan rule. As we state …

Stop the Debt Trap Update – Nov. 26

UPDATE: Last week the Faith and Credit Roundtable hosted a 3 day Conference and Advocacy Days, bringing over 80 faith leaders from 22 states to Washington, DC. The group came together to launch a faith initiative to support strong action on payday lending by the Consumer Financial Protection Bureau (CFPB). On the final day of the conference, attendees participated in …