CAMPAIGNS
Predatory mortgage and payday lending strips billions of dollars in wealth from California's residents. While CRL California works closely with policymakers in Sacramento to bring change to the marketplace, consumer involvement is important. You can make a difference for families and communities in the Golden State.
400%!? There oughtta' be a law
Payday loans carry an annual interest rate of 391 percent and are so difficult to pay off that many borrowers end up paying more in interest than they originally borrowed. The average borrower pays back $800 for a $300 loan, a loss of $500 that goes purely toward interest. Twelve million Americans are caught in the trap every year. Make 400% interest illegal. Ask your members of Congress to support a 36% cap on annual interest for consumer loans.
Are you a victim of predatory lending? Share your story
