For Immediate Release
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
WASHINGTON - 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 advocate
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 firstname.lastname@example.org or 312-316-3973.
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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 email@example.com or 312-316-3973.
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