From Americans for Financial Reform (http://ourfinancialsecurity.org/):
Click the image above to read/download the “Caught in the Debt Trap” report.
“Caught in the Debt Trap” provides a snapshot of the effect payday and title loans have had on the lives of nine people. Their personal stories illustrate how lenders take advantage of people and how these loans can leave borrowers in a devastating cycle of poverty and debt that lasts for years.
The CFPB has the power to significantly reform the industry—and to promote affordable, non-predatory lending—by issuing a strong final rule.
Tweet this out:
“My advice: when you see a payday lender, run the opposite way.” *Real* stories of payday. #StopTheDebtTrap https://peoplesaction.org/debttrap/
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