Sign on to Oppose HB 2429 Keep Predatory Payday Lenders out of PA
Pennsylvania has one of the strongest laws in the country to guard against predatory lending, with a cap on fees and interest that has kept high-cost payday lenders at bay. Our law saves residents more than $272 million each year in fees that would otherwise be drained if payday lenders were allowed to operate here.
HB 2429, “An act regulating credit services,” will jeopardize those savings by opening the door to predatory payday lenders in Pennsylvania. If passed, the bill will allow payday lenders to evade the state’s strong interest rate cap by posing as loan brokers in order to charge unlimited fees and make triple-digit interest rate loans.
PLEASE USE THIS FORM TO SIGN YOUR ORGANIZATION ON TO THE LIST OF GROUPS OPPOSING HB 2429