Skip to main content

Search form

The Rent-A-Bank Scheme

August 10, 2020
Payday and Other Small Dollar Loans
Policy & Legislation

Predatory lenders are making loans of 100% APR or more in states with limits of 36% or less by laundering loans through an out-of-state bank that is not subject to state interest rate limits. This is a rent-a-bank scheme.

Will these schemes make payday and high-cost lending legal everywhere? How can we protect our state interest rate limits? Why is this so important right now?

Take Action

Learn how you can help to fight the threat of predatory lending.

CRL Resources

CRL Statements

Webinar Recording