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Merkley and Bonamici Celebrate Sixth Anniversary of Landmark Payday Lending Law in Oregon by Calling for National Action

Brand brand New report shows customers have actually conserved $41 million each year

Portland, OR – Oregon’s Senator Jeff Merkley and Congresswoman Suzanne Bonamici marked the sixth anniversary associated with landmark legislation curbing predatory payday loans they helped pass into the Oregon legislature by calling for national action to get rid of payday lending and near online payday lending loopholes. They certainly were accompanied by customer security advocates during the Oregon Food Bank to emphasize a brand new report by Economic Fairness Oregon that details the millions in cost savings to people that lead from Oregon’s ban.

“When families come in dire straits, there are many great people and companies just like the Oregon Food Bank and Economic Fairness Oregon prepared to assist them to,” Merkley said. “Unfortunately, there are additionally lots of other people willing to tear them down. Six years back we place a final end to at least one associated with the worst abuses – predatory loans that trap families in a vortex of financial obligation. Continue reading