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Payday loans are small-dollar, high-interest loans requiring full payback on the borrower’s next payday. They carry triple-digit annual interest rates, are due in full on a borrower’s next payday, require direct-debit access to a borrower’s bank account, and are made with little or no regard for a borrower’s ability to repay the loan. Because of these features, borrowers often cannot both repay the payday loan and meet their other obligations without having to quickly re-borrow, pulling them into a vicious debt trap.
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In Minnesota, a typical payday loan is $417 and carries an APR of 208%, and is re-borrowed an average of seven times in a year. Payday loans don’t solve financial pressures; they make them worse.

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Are you interested in supporting our work? 
​Join our campaign and get involved by filling out the applicable Google Form below.​

What can I do?

Write a Letter
​to the Editor

Publicly urge legislative support of payday lending reform in your local media! We have materials available on our Get Educated page, or you can download our Letter to the Editor template below. 
​Refine it, add your own comments, and submit it to your local newspaper for the greatest impact.
Letter to the Editor template
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File Type: docx
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Contact your City Council and State Legislators

Give your elected officials a clear mandate to support payday lending reform. They work for you.
Key points to include:​
 - More often than not, payday loans lead borrowers right into a debt trap
 - Cap interest rates at 36% to protect members of your community
 - Stop the payday loan debt trap by capping the number of payday loans issued to a single borrower to four loans per year
 - Require payday lenders to use basic underwriting standards
 - Close the loophole that allows some lenders to evade our payday lending law