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We are going to get through the coronavirus outbreak together. If you are experiencing symptoms or are looking for more information, you can visit the website of the CDC or the Illinois Department of Health.
John — Days before the 2020 election, the Trump administration gave a green light to predatory lenders. Through the True Lender Rule, the Trump administration overrode state laws that blocked predatory payday, car-title, and installment loans that chain customers to sky-high interest rates. Thanks to Trump, lenders can evade consumer-protection laws and hike interest rates up to 200% by partnering with a bank whose headquarters are located out of state. It's disgusting. Predatory lenders target low-income communities and communities of color, exploiting the history of racial segregation and housing discrimination to con people out of their money. This is nothing more than an abusive scheme to squeeze money from hard-working people. That’s why Chuy is fighting back. He isn’t going to let predatory lenders and Big Banks take advantage of us. He and his allies in the Senate — including Senator Elizabeth Warren — are fighting to pass resolutions that would revoke this Trump-era rule.
Illinois fought back and passed a law to stop predatory lending — capping interest rates at 36% — but Trump’s rule lets them bypass our state laws. We need Congress to take action now to protect Chicagoans from these predatory lenders. Chuy can’t win this fight alone, and we’re grateful that you have his back. Thanks for your support, Team Chuy |
