Team:
Predatory payday lenders rob financially-strapped Michiganders of millions every single year. Lenders will charge more than 370% APR for small loans by customers who are in some of the toughest of financial situations.
This exploitative practice takes advantage of working people across the country — especially seniors, veterans, and communities of color. So, team, we’re helping fight back. >>
Enter: Michigan for Fair Lending. This new ballot measure campaign aims to cap the interest rates charged for payday loans, stop this debt trap, and bring some financial security back to the Michiganders who need it most.
Team: This isn’t our first rodeo either. We’ve already worked alongside voters in Nebraska and Colorado curb this predatory practice:
✅ In Nebraska we helped voters cap interest rates with a landslide approval margin of 83% to 17%;
✅ And in 2018, we helped Coloradans pass a measure that capped interest rates and other fees associated with payday and other short-term loans with a margin of 77% to 23%!
Voters have spoken up and they want this abusive practice to come to an end. We’re ready to take this fight to Michigan and win. Are you with us, team?
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Let’s do this! 💪💪💪
— Fairness Project