End predatory lending: Pass the Veterans and Consumers Fair Credit Act

Each year, millions of Americans take out high-interest payday loans to cover short-term expenses when they have no other options left. And each year, millions get trapped in debt by these loans’ stratospheric interest rates, which average around 400 percent.

Proposed legislation -- the Veterans and Consumers Fair Credit Act (VCFCA) -- would cap consumer loan interest rates at 36 percent, something we already do in a dozen states and for service members. We know this would prevent crushing debt traps, but we also know the payday loan industry is pulling out all the stops to try and prevent the bill’s passage.

That’s why we need your voice. Tell your representative: Pass the VCFCA and protect Americans in need.

Subject: Support H.R. 5050, the Veterans and Consumers Fair Credit Act

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