Sunnyvale, CA, City Council votes on payday lending ordinance

Editor’s note: The CFPB, a federal agency, has proposed new rules for payday, car title, and high-cost installment lenders.

 

BUT, they need to hear from consumers- that means you! We have an easy-to-use page where you can weigh in- it only takes a minute and will help bring about important consumer protections with these loans. Please share a line or two in the comments box about why you care about this issue and want to see strong federal reforms.

PS: You do NOT have to be a payday, car title, or installment borrower to sign the petition.

Editorials from NYT and Sac Bee against payday lenders, and the momentum continues next week in Sunnyvale, CA!

Coalition Against Payday Predators

Sunnyvale, California, City Council will be voting on a “Payday Ordinance,” which would limit the future growth of the predatory payday loan industry in Sunnyvale.

There’s growing momentum on this issue around the state. Last night the Long Beach City Council voted 8-0 for an ordinance that would greatly restrict the expansion of the fringe financial sector, including payday lenders, check cashers, auto title lenders and other high cost lenders throughout the city.

Sunnyvale is next! The meeting agenda is not available to the public yet, but we have requested that this issue be early on the agenda  (we hope they will accommodate our request).

How can you help?

1) Please join us next Tuesday September 24 at 7 pm at Sunnyvale City Hall, 456 W. Olive Avenue, to demonstrate support for a local ordinance.  rsvp to liana@calreinvest.org

and

2) Send a letter or email to Mayor Tony Spitaleri and…

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