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Legislative Session Week 3 Advocacy Roundup
With week three of session on the horizon, our attention is on consumer protections bills that are threatening to weaken existing regulations and push Washingtonians further into debt cycles:

TAKE ACTION: Urge your lawmakers to OPPOSE payday lending bills HB 2361 and SB 6250

As costs are rising for Washingtonians living on low incomes, it’s time to rely on our state’s strong consumer protections, not weaken them and push Washingtonians deeper into debt.
In 2009, the legislature passed strong payday lending regulations that have worked extraordinarily well to protect Washingtonians from predatory lending. HB 2361/SB 6250 would weaken these protections by increasing the amount that payday lenders can loan from the current $700 limit to $1200 plus inflation.

There is no demand for this cap to increase – in the past fifteen years, the average loan amount has stayed well below the $700 lending threshold. Data from the Washington Department of Financial Institutions shows that the average payday loan amount was $412 in 2009 and has only increased to $471 in 2024. The existing $700 cap is more than enough to meet the needs of existing borrowers.

Without demand from consumers, this bill only serves to increase profit for payday lenders by taking advantage of consumers in the worst economic circumstances . Washingtonians already paid $17 million in fees to payday lenders in 2024 – money that could have gone to rent, groceries, utilities, or other basic needs. Borrowers who take out the maximum 8 loans per year at the $700 loan limit are paying an annual $760 in fees to lenders. If the cap were to increase to $1200, the most in-need borrowers would be paying $1160 annually in fees – a 34% increase in fees that will only climb once the inflation adjustment applies.

Washingtonians have and deserve better options than high-cost loans that are designed to keep them in debt for the long term. HB 2361/SB 6250 makes it easier for consumers to fall deeper into debt instead of relying on the strong regulations that have worked since 2009.

Write to your lawmakers and encourage them to oppose HB 2361 and SB 6250!

Email your representatives [[link removed]]

SIGN IN CON ahead of payday lending hearings
In addition to emailing your lawmakers, you can sign in CON on the two payday lending bills ahead of their hearings. Sign in CON up to an hour before the hearings to have your position noted for the legislative record:

* HB 2361: Payday lending cap House bill
* Hearing in the House Consumer Protections Committee at 1:30pm on 1/27
* Sign in CON

* SB 6250: Payday lending cap Senate bill
* Hearing in the Senate Business, Trade & Economic Development Committee at 8am on 1/29
* Sign in CON


Sign in CON on HB 2361 [[link removed]] Sign in CON on SB 6250 [[link removed]]


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