Americans for Fairness in Lending

One third of the nation's population will soon be free of a practice that has stripped billions per year from the paychecks of low-wealth Americans over the past two decades, as Governor Ted Strickland signs a law today capping interest rates at 28 percent in Ohio. Enforcement of a two-digit rate will save citizens $1.74 billion per year in fifteen states plus the District of Columbia, where 33 percent of the US population lives. Just a year ago, only about 20 percent of citizens lived in payday lending-free zones.  Read the full release from AFFIL Partner, Center for Responsible Lending.