ADVISORY: #Sharkweek Campaign to Stop Payday Loan Shark Attacks

FOR IMMEDIATE RELEASE: July 2, 2015
CONTACT: Jacob Swenson-Lengyel, (312) 316-3973, Jacob@npa-us.org
 

During #SharkWeek 2015, National People’s Action Demands an End to Predatory Payday Loan Shark Lending Practices

National grassroots network launches actions in 11 states and online and calls on the CFPB to issue a broad and strong small dollar lending rule this fall

***Preview Payday Loan Sharks: http://npa-us.org/press-preview-shark-week-web-content***

Activists from California to Maine are focusing attention on a different kind of shark during the celebrated summer tradition of Shark Week this July. While marine sharks only injury a handful of Americans each year, payday loan sharks trap 12 million Americans in a devastating cycle of debt annually.  These predatory lenders lurk online and in neighborhoods across the country leaving struggling families drowning in debt because of deceptive terms, automatic “rollovers”, staggering fees and interest rates averaging over 300 percent annual percentage rate (APR). The Shark Week campaign calls on the Consumer Financial Protection Bureau (CFPB) to issue a strong, broad and effective rule on small-dollar loans that will put a stop to the worst of these abuses. Consumer advocates expect the CFPB to release its proposed rule sometime this fall.

WHO:     National People’s Action members and allies including consumer lending justice advocates, faith groups and grassroots community advocates

WHAT:     Shark Week Campaign to Stop Predatory Lending Attacks featuring an online petition, memes, shark attack survivor stories and on-the-ground events in Alabama, California, Idaho, Illinois, Iowa, Kansas, Maine, Michigan, Missouri, Nevada, and New Hampshire

WHERE:     Online actions can be found throughout the week at http://npa-us.org/pay-day-loans; Events will take place in 11 states throughout the week. Contact Jacob Swenson-Lengyel for more information on local events at jacob@npa-us.org or 312-316-3973.

WHEN:     Monday, July 6 – Friday, July 10, 2015

VISUALS:     Payday “loan sharks” visuals including shark suits at local actions. Memes and additional visuals will be unveiled through the week at http://npa-us.org/pay-day-loans. For a preview of the week’s online content visit http://npa-us.org/press-preview-shark-week-web-content.

SOCIAL MEDIA:     #Sharkweek #StopTheDebtTrap

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-Lengyel at or 312-316-3973.
 

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National People’s Action (www.npa-us.org) is a network of 29 grassroots organizations in 18 states working together to advance a racial and economic justice agenda for a new economy and true democracy.