LEGISLATIVE ALERT: House Bill 2871, the Oregon Predatory Lending Cap, is scheduled for
a public hearing on Wednesday March 28th, at 1 pm.
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The Oregon Predatory Lending Cap – HB 2871
Ending usury in Oregon means ending 500 percent interest loans. Ending usury in Oregon means ending the nightmare for families who, in a desperate effort to pay their bills, take out a loan that leads them deeper into debt. House Bill 2871, the Oregon Predatory Lending Cap, is the best solution for bringing an end to usury. HB 2871 establishes a 36 percent cap on all consumer loans made by nondepository institutions.
Strong public support has delivered important victories in the effort to end predatory payday, car title and other high cost loans. Our opponents have really stepped up their efforts and are generating 20 calls a day to lawmakers. They’ve even started a TV ad campaign.
It’s time for us to respond and let our lawmakers know that taking out a triple-digit loan is not the way for individuals to pay for lifesaving medication or other financial emergencies.
HOW YOU CAN HELP:
Payday Loan Fairness: [x] Yes, [] No
©2006 Our Oregon. All rights reserved. Photos by Leah Nash.