Get involved: Stopping the predatory loan debt trap through a ballot initiative

  • May 19, 2022
  • 1:00 PM - 2:00 PM
  • Virtual

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In Michigan, payday lenders charge triple-digit interest rates. The typical payday loan carries a 370% annual rate. These predatory lenders target rural communities and communities of color, causing people to fall into a debt trap and stripping wealth from those who can least afford it.

Join Michiganders for Fair Lending for a webinar on May 19 to learn about the ballot proposal that would ensure payday lenders cannot charge more than an APR of 36%. Learn how organizations and nonprofits can get involved in the campaign to help us stop the debt cycle caused by predatory payday loans.

Background:

Michiganders for Fair Lending is a bipartisan coalition of Michigan leaders and community members from all corners of the state. Our coalition of supporters includes faith leaders, military veterans, community groups, civil rights advocates and more, all united in their commitment to end predatory lending practices.

Michiganders for Fair Lending is in the process of gathering 340,047 valid signatures to place this payday lending reform measure on the November 2022 ballot.

Paid for by Michiganders for Fair Lending