Minnesotans for Fair Lending (MFL) is a non-partisan campaign dedicated to reforming and eradicating predatory aspects of payday lending in Minnesota.
Payday loans are small-dollar, high-interest loans that require full payback within a short period of time. By design, these payday loans trap consumers in a downward spiral of debt. The typical payday loan borrower in Minnesota is indebted by payday loans for more than half of the year, taking out an average of eleven payday loans per year – at triple digit interest rates that, depending on the loan, can exceed 800%.
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MFL brings together organizations to support regulating predatory payday loans by enacting a 36% rate cap, following the lead of 18 states and the District of Columbia, and the city of Moorhead, Minnesota. MFL is leading Minnesota in being the first state to approach this issue using a community-by-community approach.

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