Tell Your Lawmakers: Regulate Payday Lending

In addition to building a social safety net that helps Washingtonians living on a low income meet their basic needs, we are working to help families keep money in their pockets by bolstering consumer protections. Predatory lending is a persistent threat to the material well-being of millions of Washingtonians. The economic hardship of the last four years has worsened this threat, forcing many to use credit to meet short term obligations like rent, groceries, and utility payments. People shouldn't have to go into debt to put food on the table.

Payday lenders intentionally target marginalized communities to market their loans to struggling households. The promise of quick money is swiftly dashed by the reality of high-interest rates and debt people cannot repay with the income they have. Payday loan creditors are most common in low-income communities, taking away wages and locking people in a cycle of debt.

This week, lawmakers are hearing bills that would cap payday loan interest rates at 36% (as many other states do) and prevent lenders from evading Washington regulation by contracting with out-of-state banks. These common-sense bills will bring Washington consumer protection regulation into alignment with nationwide gold standards and ensure lenders are subject to that regulation, protecting consumers from predatory practices.

Tell your lawmakers: Vote YES to protect consumers from predatory lending practices.

Contact Your Lawmakers: [link removed]

Sign in PRO for Committee Hearings This Week!

Another way to show support for these bills and other important legislation is to sign in PRO to committee hearings.

This week, lawmakers are hearing bills about Guaranteed Basic Income, reinstating hardship time limit exemptions for families on TANF, payday lending, and predatory loans. Show your support for transforming cash assistance programs , helping Washingtonians meet their basic needs, and bolstering consumer protections for signing in PRO for these four hearings now.

Sign in PRO for GBI: tinyurl.com/APro1045
Sign in PRO for TANF: tinyurl.com/HSPro2007
Sign in PRO for Regulating Payday Loans: tinyurl.com/CPBPro2083
Sign in PRO for the Predatory Loan Prevention Act: tinyurl.com/CPBPro1874

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Statewide Poverty Action Network
1501 N 45th Street
Seattle, WA 98103
United States
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