A coalition of more than 170 consumer, faith, civil rights, labor, human rights, and community advocacy groups sent a letter to Senators Elizabeth Warren and Tim Scott to enthusiastically support the Predatory Lending Elimination Act (S3793). This bill, sponsored in the Senate by Senator Jack Reed, is the solution to the worst practices by predatory lenders in the consumer loan market. By expanding the protections already afforded active-duty service members under the Military Lending Act to veterans and all consumers, this bill will protect every American from the financial quicksand of high-interest loans while enabling responsible credit options to thrive.
