Friends --

In a grossly unethical and dangerous move, Consumer Financial Protection Bureau Director Kathy Kraninger just issued a rule that gives predatory lenders a green light to exploit consumers for their own profit. We’re calling on her to resign immediately.

Will you join us in calling for Kraninger’s resignation by signing this petition?

After working for almost two years to make it easier for payday lenders to take advantage of financially vulnerable Americans, Kraninger handed them the grand prize: She scrapped the “ability to repay standard,” which required lenders to determine that a consumer is able to actually repay a loan before they grant it.

Now, predatory payday lenders are free to loan sums they know people will never be able to repay -- and lenders can keep pulling in as much as 400% interest on these loans indefinitely!

Kraninger made it clear on day one that she intended to help the payday lending industry (which just happens to have given millions to Trump’s presidential campaigns and businesses) but this new step is a devastating blow to not only consumers, but to the entire American economy: It will push the country into an even deeper recession.

Friends, Kraninger is hurting millions of Americans through her corrupt practices, and we cannot tolerate it. Will you add your name to this petition and join us in demanding that Kraninger immediately step down from her role as CFPB director to protect the American people and economy?

Thank you,

Your friends at Allied Progress