Consumer, faith, civil rights, labor, human rights, and community advocacy groups, urge support for the Predatory Lending Elimination Act (S3793), sponsored in the Senate by Senator Jack Reed.
This bill is the solution to the worst practices by predatory lenders in the consumer loan market. By expanding the protections already afforded active-duty service members under the Military Lending Act to veterans and all consumers, this bill will protect every American from the financial quicksand of high-interest loans while enabling responsible credit options to thrive.
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