Contrary to industry lies, predatory payday loans do not provide access to credit. Instead, lenders take advantage of borrowers’ financial need to trap them in debt indefinitely.
The Consumer Financial Protection Bureau (CFPB) is releasing the first-ever proposed federal rules that rein in payday lenders. Grassroots pressure led to the rules; we'll need more pressure to fend off the industry attack.
In Iowa, grassroots leaders asked tough questions of Democratic presidential candidates Martin O’Malley and Bernie Sanders about actual solutions to poverty and the other struggles facing real Americans.