During #SharkWeek 2014, National People’s Action Calls for End to Payday Loan Shark Lending Practices

During #SharkWeek 2014, National People’s Action Calls for End to Payday Loan Shark Lending Practices

With the CFPB expected to begin the rulemaking process on consumer lending soon, actions in four states and online call for an end to predatory payday, title and installment loan practices.

Activists in Iowa, Illinois, Missouri and Idaho are launching their own take on Shark Week this August. The most dangerous sharks in America, they point out, aren’t found in the sea. They’re the payday loan sharks lurking on neighborhood corners and on the internet and they offer small dollar loans that take a big bite out of family budgets with interest rates averaging roughly 300 percent. The Shark Week campaign to stop predatory lending highlights the harm these loan shark practices cause to working families and will call on the Consumer Finance Protection Bureau (CFPB) to issue effective, broad, and strong rules on consumer lending to make the most abusive consumer lending practices extinct.

What: Shark Week Campaign to Stop Predatory Lending Attacks featuring online memes, stories, and on the ground actions in Iowa, Illinois, Missouri and Idaho

Who: National People’s Action members and other consumer lending justice advocates

Where: Online postings throughout the week can be found at http://npa-us.org/pay-day-loans; on the ground actions in Iowa, Illinois, Missouri, and Idaho

When: Monday, August 11 - Friday, August 15th

Visuals: For visuals, visit http://npa-us.org/pay-day-loans

To interview a payday loan “attack survivor” or for more information about the Shark Week and other anti-predatory lending campaign events, please contact Jacob Swenson at or 312-316-3973.

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National People’s Action (www.npa-us.org) is a network of 30 grassroots organizations in 17 states, with 85,000 individual members working together to advance a racial and economic justice agenda for a new economy and true democracy.

Campaign: 
Payday Loans