Call Congress today to protect Georgia's interest rate caps!
The U.S. House of Representatives is set to vote on House Resolution 3299 this week. This bill threatens to allow non-bank lenders to make high-cost loans that exceed the hard-fought usury limits Georgia passed into law in 2004! This could open the floodgates for rent-a-bank arrangements that would allow predatory actors to make loans at 300% interest rates or higher! Over 200 groupsacross the country have joined in opposition to this dangerous bill.
The
so-called "Madden" bill (HR 3299) passed out of the House Financial Services Committee last year and is heading to the floor of the U.S. House of Representatives soon. Unfortunately, nine House Democrats, including Congressman David Scott, and 33 Republicans, including Congressman Barry Loudermilk, voted to pass this bill out of Committee.
We need YOUto tell your Georgia Representatives not to give payday lenders a workaround to break our state usury laws. Add your voice to oppose the "Madden" bill.
Action Needed:
Call your U.S. Representative today and urge them to oppose the bill! You can call the switchboard at (202) 224-3121 or find your Representative here. Below is a list of Georgia's Representatives and their contact information.
