Info About Bill S. 500
Bill S. 500 is a bill that threatens to yank credit from needy consumers who have nowhere
to turn for the money they need. This bill would set the maximum interest rate for ALL LOANS
(short-term and long-term) at 36%, including all fees. Making this change would drive most -
if not all - pawnshops out of business, cutting off one of the last remaining sources of cash
for the millions of people who have lost their jobs.
It's always a good idea to be fully-informed about legislation that will have a big impact on
your life. Click below to read the full text of the proposed bill.
Click here to read Bill S. 500 =>
Bills and laws are often worded in a way that is difficult for most people to understand.
We've decoded the bill's text so that it's much simpler and easy-to-read - click below to see
the translation:
Click here to read an explanation of Bill S. 500 =>
Another bill, H.R. 1214, has been introduced in the House of Representatives. This bill specifically
targets payday loans and provides consumers with protections against predatory payday lenders.
We support this bill because we DO believe consumers should be protected from UNFAIR lending practices,
and the terms of these loans should be made very clear to the people accepting them. For
the full text of this bill, click below.
Click here to learn about bill H.R. 1214 =>
