Stop Predatory Lending on Native American Lands!
As our country begins to respond to the economic crisis, good people are making their best effort to pay their bills, maintain good credit and own their homes but because they live in Native American communities that are struggling economically, they are targets for unscrupulous lenders - "predatory" lenders.
Low income people - which includes the vast majority of Native Americans who lack collateral, have poor credit and live paycheck to paycheck - are often easy prey to predatory lenders offering payday loans and tax refund anticipation loans (RALs). These practices are generating literally billions of dollars for lenders and tax preparers - dollars that could be better used by the families toward their economic security.
Such financial practices can lead to perpetuating cycles that dramatically decrease living standards and put unimaginable stresses on families. Ask your legislators to support tighter federal regulation of "predatory" lenders who unfairly target Native American communities!
Dear [Decision Maker],
In an already tough economic time, "predatory" lenders are targeting Native Americans through fraudulent, deceptive and discriminatory lending practices. These loans are specifically designed to prey on the vulnerable, uninformed borrowers and have inappropriately high interest rates and excessive fees.
These financial practices help create perpetuating cycles that drag down the living standards of Native Americans. In a survey conducted at a national American Indian housing conference, 73 percent of participants said that predatory lending was a problem in their communities.
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Please end this injustice and support tighter federal regulation of "predatory" lenders who unfairly target Native American communities.
