Help Slam the Debt Trap Shut

By MB -
Payday loan shop window
(h/t to our friends at Community Legal Services)

The Consumer Financial Protection Bureau (CFPB) is getting ready to issue rules that could end payday lending nationwide. Payday, car-title, and high-cost installment loans with annual rates of 300% or more can put borrowers in an impossible (and unpayable) position.

You can sign on today to a letter that will ask the CFPB to make a strong national rule that will help families everywhere. The letter is available at https://docs.google.com/forms/d/1JqUV_bXRrk7-AcnUmdvZ6E0F64q6hxvFmugAd34ud2Y/viewform. Sign ons are accepted until 5 PM today, October 16.

As the letter states: "It’s time to end the scam and put rules in place that will end abusive practices and slam shut the debt trap." Let's work together to make that happen.

If you have been a victim of payday or predatory lending, or if you need help escaping other debt traps, PathWays PA can help. Our Financial Path$ program offers financial education workshops and individual counseling sessions that provide resources such as guidance on public benefits; free tax preparation; information on Earned Income Tax Credits; credit counseling and repair; obtaining personal identification and keeping it secure; housing readiness and other related services.

For more information about Financial Path$, please contact Erin Rogers at erogers@pathwayspa.org or (484) 816-6411.

Interested in PathWays PA blog posts on similar topics?

Comments

Post a Comment

Popular posts from this blog

PathWays PA E-Newsletter: August 6, 2012

By -
Image
Federal Policy Updates  CONGRESS IN AGREEMENT TO WORK ON A 6-MONTH CONTINUING RESOLUTION Last week House and Senate leaders announced that a deal has been reached to pass a 6-month continuing resolution to fund the federal government through next spring. Details of the agreement have not yet been made public, but the continuing resolution will reportedly fund federal agencies at current spending levels. With both chambers of Congress on summer recess, a vote on the agreement will likely be held in September, before the end of the fiscal year. If this agreement is enacted it will ensure that the government will not be shutdown at the end of September when the current spending plan ends. HELP MOVE THE VIOLENCE AGAINST WOMEN ACT FORWARD The Violence Against Women Act (VAWA) needs to be reauthorized to ensure the continuation of vital, life-saving programs and laws. It was the first piece of American legislation that recognized the pervasive nature of domestic violence,
Read more

Mini-Budget Update-Supporting the American Community Survey

By MB -
Image
(via The Census Project ) Next Tuesday, June 19 is an important date to mark on your calendar. The Congressional Joint Economic Committee is holding a public hearing on the economic impact of eliminating the American Community Survey (ACS) at 2:30 p.m., in Room 210 of the Canon House Office Building. Witnesses that will be speaking in opposition to the move to eliminate the ACS are Vincent Barabba, former director of the Census Bureau in two GOP administrations and Ken Simonson, chief economist for the Association of General Contractors and also representing the National Association of Business Economists. It is very important that we pack the congressional hearing room! If you cannot come, please urge your colleages to come. If you represent a non-DC organization contact your friends in Washington and urge them to attend. Also on Tuesday of next week some of our congressional supporters will be holding a noon press conference in the so-called House Triangle right outside the Cap
Read more

Overlooked and Undercounted: Struggling to Make Ends Meet in Pennsylvania

By -
Image
Census data tells us that 13% of Pennsylvania households live in poverty. In reality, even more households don’t have the income they need to reach self-sufficiency. One in four Pennsylvania households – over 846,000 – lack enough income to cover just the necessities. Since 1997, PathWays PA has worked with Dr. Diana Pearce and the University of Washington to calculate  The Self-Sufficiency Standard for Pennsylvania . Over the last 23 years,  The Self-Sufficiency Standard of Pennsylvania  has documented the continuing increase in the real cost of living, illuminating the economic crunch experienced by so many families today. Since 2010, PathWays PA and the University of Washington have also issued three versions of the  Overlooked and Undercounted  report, which looks at the number of households living above and below self-sufficiency. You can now use the interactive materials below to find out what it takes to be self-sufficient in your county. Click here  to read the 2020 O
Read more