CRL's Katelin Kaiser and @consumerfed.bsky.social's Adam Rust are meeting with @foushee.house.gov's team at Consumer Advocacy Day to #StopTheDebtTrap and strengthen consumer protections. #CAD2026 #FinancialFairness
June 2, 2026 at 9:09 PM
CRL's Katelin Kaiser and @consumerfed.bsky.social's Adam Rust are meeting with @foushee.house.gov's team at Consumer Advocacy Day to #StopTheDebtTrap and strengthen consumer protections. #CAD2026 #FinancialFairness
New CRL Report “Escalating Debt: The Real Impact of Payday Loan Apps Sold as Earned Wage Advances (EWA)” Data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims
#StopTheDebtTrap #ConsumerProtection #DebtTrap
https://loom.ly/XzG2Q6k
#StopTheDebtTrap #ConsumerProtection #DebtTrap
https://loom.ly/XzG2Q6k
September 22, 2025 at 4:43 PM
New CRL Report “Escalating Debt: The Real Impact of Payday Loan Apps Sold as Earned Wage Advances (EWA)” Data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims
#StopTheDebtTrap #ConsumerProtection #DebtTrap
https://loom.ly/XzG2Q6k
#StopTheDebtTrap #ConsumerProtection #DebtTrap
https://loom.ly/XzG2Q6k
Paying an average interest rate of 383% for advances repaid in 7-14 days is not "consumer friendly". To truly help consumers and #StopTheDebtTrap, we need to regulate these products.
Excellent work by @nclc4consumers.bsky.social & @crlonline.bsky.social !! #ProtectConsumers
Excellent work by @nclc4consumers.bsky.social & @crlonline.bsky.social !! #ProtectConsumers
Researchers tracked workers for a year after their first payday advance and found that advances doubled in frequency, with 3 in 4 borrowers taking out more than one loan in a two-week period. #StopTheDebtTrap #ProtectConsumers @crlonline.bsky.social @nytimes.com www.nytimes.com/2025/10/03/y...
Some Workers Are Turning to Pay-Advance Apps for Basic Expenses
www.nytimes.com
October 3, 2025 at 6:24 PM
Paying an average interest rate of 383% for advances repaid in 7-14 days is not "consumer friendly". To truly help consumers and #StopTheDebtTrap, we need to regulate these products.
Excellent work by @nclc4consumers.bsky.social & @crlonline.bsky.social !! #ProtectConsumers
Excellent work by @nclc4consumers.bsky.social & @crlonline.bsky.social !! #ProtectConsumers
Federal banking regulators should reject Enova's bid to buy a national bank because it would allow them to issue high-cost loans in states with interest rate caps, said
@warren.senate.gov @vanhollen.senate.gov. #StopTheDebtTrap
news.bloomberglaw.com/banking-law/...
@warren.senate.gov @vanhollen.senate.gov. #StopTheDebtTrap
news.bloomberglaw.com/banking-law/...
May 21, 2026 at 8:03 PM
Federal banking regulators should reject Enova's bid to buy a national bank because it would allow them to issue high-cost loans in states with interest rate caps, said
@warren.senate.gov @vanhollen.senate.gov. #StopTheDebtTrap
news.bloomberglaw.com/banking-law/...
@warren.senate.gov @vanhollen.senate.gov. #StopTheDebtTrap
news.bloomberglaw.com/banking-law/...
“Approval of predatory 100%+ APR banks," advocates warn, "would be an assault on people across the country and political spectrum who are worried about the affordability crisis and strongly support interest rate limits.” #ProtectConsumers #StopTheDebtTrap #Fintech www.nclc.org/broad-coalit...
Broad Coalition Urges Congress to Oppose Unaffordable 100%+ APR Bank Loans
Groups Urge Lawmakers to Reject Enova and OppFi’s National Bank Applications and to Support State and Federal Interest Rate Limits WASHINGTON – Today, nearly 100 consumer, civil rights, and community ...
www.nclc.org
May 7, 2026 at 2:03 PM
“Approval of predatory 100%+ APR banks," advocates warn, "would be an assault on people across the country and political spectrum who are worried about the affordability crisis and strongly support interest rate limits.” #ProtectConsumers #StopTheDebtTrap #Fintech www.nclc.org/broad-coalit...
If the Federal Reserve approves Enova and OppFi’s acquisitions of Grasshopper Bank and BNC Bank, the lenders will be able to bypass state interest limits, offering APRs between 100% and 160% nationwide. #StopTheDebtTrap #RentaBank #ProtectConsumers @forbes.com www.forbes.com/advisor/pers...
www.forbes.com
June 25, 2026 at 6:58 PM
If the Federal Reserve approves Enova and OppFi’s acquisitions of Grasshopper Bank and BNC Bank, the lenders will be able to bypass state interest limits, offering APRs between 100% and 160% nationwide. #StopTheDebtTrap #RentaBank #ProtectConsumers @forbes.com www.forbes.com/advisor/pers...
“Don’t let deceptive financial promotions with huge, delayed charges ruin your holidays,” said @chichiwu.bsky.social. "Don’t let predatory lenders put you on the hook for this year’s holiday spending into next year and beyond.” #ProtectConsumers #StopTheDebtTrap www.nclc.org/holiday-shop...
Holiday Shoppers Beware! Dangers Lurk in Buy Now, Pay Later and Deferred Interest Credit Card Offers
As holiday shopping kicks into gear amid an affordability crisis, advocates warn shoppers to check twice before accepting financial promotions.
www.nclc.org
November 24, 2025 at 2:09 PM
“Don’t let deceptive financial promotions with huge, delayed charges ruin your holidays,” said @chichiwu.bsky.social. "Don’t let predatory lenders put you on the hook for this year’s holiday spending into next year and beyond.” #ProtectConsumers #StopTheDebtTrap www.nclc.org/holiday-shop...
NEW Report: Buried in Debt shows that raising interest rate caps harms families who are already struggling to afford the high price of housing and other necessities. Download the report to learn how these trends affects your community. #StopTheDebtTrap https://loom.ly/0-2K6fU
December 11, 2025 at 4:13 PM
NEW Report: Buried in Debt shows that raising interest rate caps harms families who are already struggling to afford the high price of housing and other necessities. Download the report to learn how these trends affects your community. #StopTheDebtTrap https://loom.ly/0-2K6fU
Want to learn more about why these apps are just #PaydayLoans in disguise? Read our new report: www.responsiblelending.org/research-pub...
#StopTheDebtTrap #ProtectConsumers
#StopTheDebtTrap #ProtectConsumers
October 3, 2025 at 6:12 PM
Want to learn more about why these apps are just #PaydayLoans in disguise? Read our new report: www.responsiblelending.org/research-pub...
#StopTheDebtTrap #ProtectConsumers
#StopTheDebtTrap #ProtectConsumers
At a time of an affordability crisis, the Trump Administration is considering allowing new national banks that would charge triple-digit interest rates, well above rate limits approved by voters and legislatures in 45 states. #StopTheDebtTrap #Fintech #ProtectConsumers www.nclc.org/another-100-...
Another 100%+ APR Bank Seeks Trump Administration Approval
OppFi’s Acquisition of BNC Bank Would Circumvent Interest Rate Limits in 45 States
www.nclc.org
April 29, 2026 at 8:36 PM
At a time of an affordability crisis, the Trump Administration is considering allowing new national banks that would charge triple-digit interest rates, well above rate limits approved by voters and legislatures in 45 states. #StopTheDebtTrap #Fintech #ProtectConsumers www.nclc.org/another-100-...
Maryland is poised to vote to allow a new type of payday loan- Earned Wage Advance. They have APRs of up to 400%, trap people in debt, and ask users to tip the company. Why are they voting to ignore the usury caps? NO on HB1294
@govwesmoore.bsky.social #StopTheDebtTrap
@govwesmoore.bsky.social #StopTheDebtTrap
April 4, 2025 at 3:57 PM
Maryland is poised to vote to allow a new type of payday loan- Earned Wage Advance. They have APRs of up to 400%, trap people in debt, and ask users to tip the company. Why are they voting to ignore the usury caps? NO on HB1294
@govwesmoore.bsky.social #StopTheDebtTrap
@govwesmoore.bsky.social #StopTheDebtTrap
New CRL Report on the Real Impact of Payday Loan Apps: Escalating Debt -
New data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims.
#PaydayLoanApps #StopTheDebtTrap #ConsumerProtection
https://loom.ly/lfC8yRU
New data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims.
#PaydayLoanApps #StopTheDebtTrap #ConsumerProtection
https://loom.ly/lfC8yRU
September 22, 2025 at 5:28 PM
New CRL Report on the Real Impact of Payday Loan Apps: Escalating Debt -
New data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims.
#PaydayLoanApps #StopTheDebtTrap #ConsumerProtection
https://loom.ly/lfC8yRU
New data show apps multiply costs and financial insecurity for borrowers – puncturing industry claims.
#PaydayLoanApps #StopTheDebtTrap #ConsumerProtection
https://loom.ly/lfC8yRU
New CFPB Overdraft Rule Could Save Consumers $5B Each Year: In a comment letter that earlier urged enactment of overdraft reform, CRL noted this predatory loan’s disproportionate impact on Black and Latino consumers. #StopTheDebtTrap seattlemedium.com/us-senate-he...
New CFPB Overdraft Rule Could Save Consumers $5B Each Year
U.S. Senate hearing addresses the nation's economy, with a focus on protecting workers' money and fighting for financial dignity.
seattlemedium.com
January 27, 2025 at 7:47 PM
New CFPB Overdraft Rule Could Save Consumers $5B Each Year: In a comment letter that earlier urged enactment of overdraft reform, CRL noted this predatory loan’s disproportionate impact on Black and Latino consumers. #StopTheDebtTrap seattlemedium.com/us-senate-he...
The loans “address the real need that people are short of funds, but just adding fees to their monthly budget and leaving them short next week is not the answer." #ProtectConsumers #BNPL #StopTheDebtTrap #fintech @stacycowley.bsky.social @nytimes.com www.nytimes.com/2026/08/17/b...
‘Buy Now, Pay Later’ Lenders Pitch Loans for Needs Like Electricity and Rent
The rapid growth of pay-later loans raises questions about whether their popularity is driven by consumer preference or desperation.
www.nytimes.com
August 17, 2026 at 6:11 PM
The loans “address the real need that people are short of funds, but just adding fees to their monthly budget and leaving them short next week is not the answer." #ProtectConsumers #BNPL #StopTheDebtTrap #fintech @stacycowley.bsky.social @nytimes.com www.nytimes.com/2026/08/17/b...
NCLC Senior Attorney Lauren Saunders said these services exploit people who are struggling, and many become trapped in debt.
“𝐈𝐭’𝐬 𝐚 𝐟𝐚𝐫 𝐦𝐨𝐫𝐞 𝐯𝐢𝐜𝐢𝐨𝐮𝐬 𝐜𝐲𝐜𝐥𝐞 𝐨𝐟 𝐫𝐞𝐛𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐚𝐧 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐚𝐲𝐝𝐚𝐲 𝐥𝐨𝐚𝐧𝐬." @startribune.com #StopTheDebtTrap #ProtectConsumers www.startribune.com/minnesota-ag...
“𝐈𝐭’𝐬 𝐚 𝐟𝐚𝐫 𝐦𝐨𝐫𝐞 𝐯𝐢𝐜𝐢𝐨𝐮𝐬 𝐜𝐲𝐜𝐥𝐞 𝐨𝐟 𝐫𝐞𝐛𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐚𝐧 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐚𝐲𝐝𝐚𝐲 𝐥𝐨𝐚𝐧𝐬." @startribune.com #StopTheDebtTrap #ProtectConsumers www.startribune.com/minnesota-ag...
Minnesota AG sues cash advance app Brigit over alleged breach of state lending laws
The interest on some loans is above 700%, according to Keith Ellison’s office. The company says it does not violate the law and will fight the lawsuit vigorously.
www.startribune.com
June 12, 2026 at 1:58 PM
NCLC Senior Attorney Lauren Saunders said these services exploit people who are struggling, and many become trapped in debt.
“𝐈𝐭’𝐬 𝐚 𝐟𝐚𝐫 𝐦𝐨𝐫𝐞 𝐯𝐢𝐜𝐢𝐨𝐮𝐬 𝐜𝐲𝐜𝐥𝐞 𝐨𝐟 𝐫𝐞𝐛𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐚𝐧 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐚𝐲𝐝𝐚𝐲 𝐥𝐨𝐚𝐧𝐬." @startribune.com #StopTheDebtTrap #ProtectConsumers www.startribune.com/minnesota-ag...
“𝐈𝐭’𝐬 𝐚 𝐟𝐚𝐫 𝐦𝐨𝐫𝐞 𝐯𝐢𝐜𝐢𝐨𝐮𝐬 𝐜𝐲𝐜𝐥𝐞 𝐨𝐟 𝐫𝐞𝐛𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐚𝐧 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐚𝐲𝐝𝐚𝐲 𝐥𝐨𝐚𝐧𝐬." @startribune.com #StopTheDebtTrap #ProtectConsumers www.startribune.com/minnesota-ag...
On FL payday lending bill - Benjamin @AttorneyCrump: “these loans offer no value but instead serve to systematically redistribute wealth from low-wealth communities to large, corporatized predatory lenders.” #flpol #StopTheDebtTrap
politico.com/states/f/?id=0…
politico.com/states/f/?id=0…
March 3, 2025 at 7:21 PM
On FL payday lending bill - Benjamin @AttorneyCrump: “these loans offer no value but instead serve to systematically redistribute wealth from low-wealth communities to large, corporatized predatory lenders.” #flpol #StopTheDebtTrap
politico.com/states/f/?id=0…
politico.com/states/f/?id=0…
Read the new CRL policy brief for an important update on federal & state developments as well as recommendations for protecting borrowers: "Nickel and Dimed: How Payday Loan Apps Drain Workers’ Pay and How to Stop Them." #StopTheDebtTrap www.responsiblelending.org/research-pub...
October 16, 2025 at 6:30 PM
Read the new CRL policy brief for an important update on federal & state developments as well as recommendations for protecting borrowers: "Nickel and Dimed: How Payday Loan Apps Drain Workers’ Pay and How to Stop Them." #StopTheDebtTrap www.responsiblelending.org/research-pub...
Tell Gov. Scott to #VetoSB920. Payday lenders already strip $300m+ per year from Floridians. They design their loans as traps to keep customers in debt for as long as possible. Now they’ve bought off state lawmakers to make it even worse:#StopTheDebtTrap
pbpo.st/2FkAKCc
pbpo.st/2FkAKCc
March 3, 2025 at 7:33 PM
Tell Gov. Scott to #VetoSB920. Payday lenders already strip $300m+ per year from Floridians. They design their loans as traps to keep customers in debt for as long as possible. Now they’ve bought off state lawmakers to make it even worse:#StopTheDebtTrap
pbpo.st/2FkAKCc
pbpo.st/2FkAKCc
A low-income rent-to-own customer will pay 1.5 to 12x what a cash customer would pay in a traditional retail store for the same household item. #ProtectConsumers #StopTheDebtTrap www.thestreet.com/retail/rent-...
Controversial retail chain closes 69 stores
If you want to pay more than retail, this is the place to shop.
www.thestreet.com
August 13, 2026 at 3:59 PM
A low-income rent-to-own customer will pay 1.5 to 12x what a cash customer would pay in a traditional retail store for the same household item. #ProtectConsumers #StopTheDebtTrap www.thestreet.com/retail/rent-...
"Bank charters provide private companies with public benefit. They must only be granted when lending is fair, not predatory." @washingtoninformer.com @crlonline.bsky.social #StopTheDebtTrap #Fintech #ProtectConsumers www.washingtoninformer.com/predatory-le...
Predatory Lenders Seek Bank Charters to Evade State Rate Caps
Predatory lenders seek bank charters to impose triple-digit loan rates, exploiting the working poor and increasing financial instability.
www.washingtoninformer.com
May 8, 2026 at 7:41 PM
"Bank charters provide private companies with public benefit. They must only be granted when lending is fair, not predatory." @washingtoninformer.com @crlonline.bsky.social #StopTheDebtTrap #Fintech #ProtectConsumers www.washingtoninformer.com/predatory-le...
“Before the Board considers these unprecedented applications and makes a decision that could devastate consumers nationwide, it is incumbent on the Board to hear from the communities that will be impacted.” #RentABank #StopTheDebtTrap #ProtectConsumers www.nclc.org/before-appro...
Before Approving 100% APR Banks, Fed Must Hold Public Hearings
Unprecedented Bids Could Create the First National Banks Dedicated to Predatory Lending
www.nclc.org
June 22, 2026 at 6:36 PM
“Before the Board considers these unprecedented applications and makes a decision that could devastate consumers nationwide, it is incumbent on the Board to hear from the communities that will be impacted.” #RentABank #StopTheDebtTrap #ProtectConsumers www.nclc.org/before-appro...
There’s a new wave of predatory lenders on the market. “Cash-advance" make millions off of outrageous APR & hidden fees. Some borrowers are paying 4-figure interest rates — but these fintech companies still ask for a tip. #StopTheDebtTrap @moreperfectunion.bsky.social www.youtube.com/shorts/xgnnu...
Predatory Apps Are Manipulating Borrowers Into Tipping
YouTube video by More Perfect Union
www.youtube.com
August 28, 2025 at 7:40 PM
There’s a new wave of predatory lenders on the market. “Cash-advance" make millions off of outrageous APR & hidden fees. Some borrowers are paying 4-figure interest rates — but these fintech companies still ask for a tip. #StopTheDebtTrap @moreperfectunion.bsky.social www.youtube.com/shorts/xgnnu...
Earned Wage Access on FinReg Pod. Listen to the latest episode where CRL's Yasmin Farahi & Lucia Constantine discuss our new report: A Loan Shark in Your Pocket and the hidden costs of EWA. #StopTheDebtTrap open.spotify.com/episode/1YPe...
Earned Wage Access: Innovation or Payday 2.0?
The FinReg Pod · Episode
open.spotify.com
November 25, 2024 at 5:52 PM
Earned Wage Access on FinReg Pod. Listen to the latest episode where CRL's Yasmin Farahi & Lucia Constantine discuss our new report: A Loan Shark in Your Pocket and the hidden costs of EWA. #StopTheDebtTrap open.spotify.com/episode/1YPe...
Don’t Let Predatory Debt Traps Rob the Holiday Season’s Joy - App-based Loans Could Magnify Financial Stresses After Government Shutdown #StopTheDebtTrap #BlackFriday #BNPL
https://loom.ly/9TDx7Zs
https://loom.ly/9TDx7Zs
Don't Let Predatory Debt Traps Rob the Holiday Season's Joy
Learn how predatory lenders exploit financially strapped families during the holidays with high-cost loans. Avoid BNPL and EWA scams.
www.washingtoninformer.com
November 28, 2025 at 3:54 PM
Don’t Let Predatory Debt Traps Rob the Holiday Season’s Joy - App-based Loans Could Magnify Financial Stresses After Government Shutdown #StopTheDebtTrap #BlackFriday #BNPL
https://loom.ly/9TDx7Zs
https://loom.ly/9TDx7Zs
Approving these applications for national bank charters would greenlight these loans nationwide and expose borrowers in every state to online loan sharks, leaving consumers in despair. #ProtectConsumers #StopPredatoryBanks #StopTheDebtTrap www.paymentsdive.com/news/trump-s...
Trump should nix high-cost loans
“If the president wants to provide people relief from high-interest debt ... he should lead a crackdown against high-cost credit schemes,” writes a consumer advocate lawyer.
www.paymentsdive.com
May 29, 2026 at 7:33 PM
Approving these applications for national bank charters would greenlight these loans nationwide and expose borrowers in every state to online loan sharks, leaving consumers in despair. #ProtectConsumers #StopPredatoryBanks #StopTheDebtTrap www.paymentsdive.com/news/trump-s...