Today we are facing the biggest threat in decades to states‘ historic power to prevent predatory lending: ―Rent-a-bank lending, where state-regulated lenders launder their loans up to 160% annual percentage rate (APR) through banks in order to evade state interest rate caps. These schemes are spreading around the country and are starting to explode. Payday lenders have state brazenly and openly that they plan to use rent-a-bank schemes to evade California‘s new law outlawing their destructive products. Every state is at risk.