Fight Predatory Lending
Bills SB 430-432
Senate Bills 430-432 were introduced in June 2017 and referred to the Senate Committee on Banking and Financial Services. These bills would legalize loans of up to $2,500 for up to two years, with fees equal to up to 180% APR. For example, on a $1,500, 12-month loan, the total payback amount would be $3,209. For a $2,500, 24-month loan the total payback amount would be $8,344 with monthly payments of $348.
- Read the CRL Report
- Read our sign-on letter to Michigan Senators which includes a list of 89 organizations who oppose SB 430-432
- Contact Your senator