State lawmakers are considering a bill aimed at addressing predatory lending schemes that affect thousands of residents each year. The proposed legislation focuses on lenders like OppFi, which reportedly charges Oregonians up to 195% interest on loans ranging from $500 to $5,000. A recent report by the Center for Responsible Lending (CRL) highlights the issue, pointing to what they describe as a cycle of debt for borrowers. Ellen Harnick from the CRL shared her concerns.
