Payday lending apps are trapping Black and Latinx people in high-cost,
impossible-to-repay loans.  

[ [link removed] ]Color Of Change logo

Tell Apple to restrict these predatory apps from the App Store.  
  

[ [link removed] ]TAKE ACTION
John, 

Predatory lenders are showing up in places you might never expect. 

Payday lenders are no longer only providing loans through brick-and-mortar
stores in Black communities. Payday lending mobile apps are experiencing a
surge in popularity, and can be easily accessed through Apple’s App Store.
Much like payday loan stores, payday lending apps market themselves as
quick fixes for low-income people. In reality, these apps trap people in
loans with outrageous interest rates and impossible payment schedules.^1 

[ [link removed] ]Call on Apple to restrict payday lending mobile apps and advertisements
on their platform.

Although they may seem less manipulative because they charge less than
brick-and-mortar payday loan stores, payday lending apps are just as bad.
Much like payday stores, these apps use loans disguised as short-term
relief to trap communities of color in debt and “systematically strip
wealth from low-income communities.”^2 Between their high interest rates
and their easy access, payday loan apps have the potential to financially
destroy Black families through unmanageable terms, continual refinancing,
and high default rates.^3,4

Black and low-income communities turn to payday loans because they
advertise that they’ll help in financial emergencies. According to USA
Today, 46% of Americans cannot come up with $400 if needed for an
emergency.^5 Payday lenders take advantage of our families’ most
vulnerable moments to provide high-cost loans that, over time, widen the
wealth gap between Black and white families.^6 We must put a stop to these
immoral practices.

[ [link removed] ]Tell Apple to ban payday lending apps.

As a Color Of Change member, you’ve supported us over the years as we’ve
fought against payday lenders’ harmful practices. But the popularity of
payday lending apps shows us that our work is far from over. Tech leaders
like Google and Facebook have already taken steps to prohibit payday
lending stores from advertising on their platforms. We want to see Apple
step up and join this impactful work. If Apple restricts payday lending
apps from appearing in the App Store, they can help to protect families of
color and low-income people from being trapped in lifelong debt.

[ [link removed] ]We must protect our communities from lifelong debt. Tell Apple to keep
payday lending apps out of the App Store.

Until justice is real, 
—Brandi, Rashad, Arisha, Jade, Johnny, Future, Amanda, Evan, Imani,
Samantha, Eesha, Marcus, FolaSade, and the rest of the Color Of Change
team

References: 

 1. “Help stop payday predators,” ActBlue,
[ [link removed] ][link removed] 
 2. “Lawmakers should not let predatory lenders do even more damage to
poor Floridians,” Miami Herald, February 6, 2018,
[ [link removed] ][link removed]
 3. “Best 10 apps for payday loans,” AppGroves, February 24, 2019,
[ [link removed] ][link removed]
 4. “Lawmakers should not let predatory lenders do even more damage to
poor Floridians,” Miami Herald, February 6, 2018,
[ [link removed] ][link removed]
 5. “Why half of Americans can’t come up with $400 in an emergency,” USA
Today, October 6, 2017,
[ [link removed] ][link removed]
 6. “Lawmakers should not let predatory lenders do even more damage to
poor Floridians,” Miami Herald, February 6, 2018,
[ [link removed] ][link removed]


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