“When a family has nothing to eat, because it has to make payments to usurers, this is not Christian, it is not human! This dramatic scourge in our society harms the inviolable dignity of the human person.”

-Pope Francis, January 29, 2014 Address to Members of the National Council of Anti-Usury Foundations

Update (2/13/2020): If you were not able to participate in the February 12th call in day, please still reach out to your Representative during February. A phone call is the most effective tool to make sure your voice is heard but if you are not able to call your Representative’s office, please send an email and personalize your message – share your experiences, the effects of payday lending in your community, how your church is helping, etc.

Call your member of Congress now and urge them to support the Veterans and Consumer Fair Credit Act by becoming a co-sponsor:

  • Ask that the office commit their support for HR 5050.
  • If the office is supportive, ask that the member become a co-sponsor of HR 5050, the most compelling show of support for the bill!

Payday lending is modern day usury. These short-term, high-interest loans prey on the financial hardship of poor and vulnerable consumers – all for the sake of big profits, which only come when consumers fail. This practice directly contradicts our Catholic understanding that the role of the economy is to serve people, not the other way around.

Right now, members of Congress are considering their support for the bipartisan Veterans and Consumers Fair Credit Act of 2019 (HR 5050). A decisive vote on this bill would put a 36% APR interest rate cap on all payday and car-title loans.

HR 5050 expands the successful Military Lending Act rate cap – which currently only covers active-duty servicemembers and their families – to veterans and all consumers. That means that payday loan sharks would not be able to charge sky-high, triple-digit interest rates on their deceptive loans.

The USCCB and their partners in the Faith for Just Lending Coalition wrote a letter supporting the bill, which you can read here.