End Predatory Lending, #EndUsury

January 10, 2014

Alabama has four times as many payday lenders as McDonald’s restaurants according to The Southern Poverty Law Center (SPLC). Many people take out loans to meet unexpected expenses or to buy food but often find they are unable to pay back the loans, which interest rates can reach 456 percent.  Desperate, more than three quarters of all borrowers find themselves in a cycle of having to take out additional loans to pay previous loans.

Title pawn and payday loan store fronts, often located in low-income and predominantly African American neighborhoods, contribute to poverty and inequality. In our commitment to social justice advocacy, the YWCA Central Alabama supports legislation to limit predatory lending within the state. Please watch and share the video below to spread awareness of how these predatory loans ruin lives. Join us in fighting predatory lending, please visit Alabama Appleseed and Alabama Arise.


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