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ST. PAUL, MINN. – (April 23, 2014) – Poll results this month show over 70 percent of Minnesota voters agree that consumer protections for payday loans in Minnesota need to be strengthened. The poll commissioned by Minnesotans for Fair Lending (MFL) was conducted in April by Public Policy Polling. Download a one-page summary (PDF) of […]

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Last week, Sherry Shannon of Roseville came to the payday lending reform hearing at the Senate Commerce Committee to share her story. A single adult on disability, Sherry can’t afford to lose even $35 per month on payday loan fees. Thanks to her brave testimony, the bill passed out of Committee. This is what she said. […]

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Minnesotans for Fair Lending released a video today featuring real Minnesotans whose lives have been negatively affected by the payday loans that they’ve taken out. Payday loans are small-dollar, high-interest loans requiring full payback on the borrower’s next payday. They typically carry triple-digit annual interest rates, are due in full on a borrower’s next payday, […]

Renee Bergeron

Meet Reneé. A Duluthian and a mother of four, Reneé has held the same full-time job for years. In 2005, Reneé fell short on a few bills and decided to take out a payday loan to make ends meet. Last month, she came to the Capitol to testify in favor of payday lending reform. She […]

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Come out to support the PAYDAY LENDING REFORM BILL hearing in the Senate Commerce Committee, Capitol Room 112, Wednesday, March 26, 12:00-2:00 PM! We need to FILL THE HEARING ROOM so bring friends and fellow advocates in support of ending predatory payday lending. Your presence will help to encourage those who are testifying and sharing […]

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Predatory business model supports cycle of repeat borrowing with fees, for average APR of 273% ST. PAUL, MINN. – (March 18, 2014) — Between 1999 and 2012, payday lenders drained over $82 million in fees from financially-stressed Minnesotans, primarily from suburban and Greater Minnesota communities. That’s the message from Minnesotans for Fair Lending (MFL), the 34 endorsing […]

Advocates at Homeless Day on the Hill March 6

The Minnesota Coalition for the Homeless gave Minnesotans for Fair Lending the chance to present the case for payday lending reform at their Day on the Hill yesterday. Many advocates opted to don MFL’s “Stop the Payday Loan Debt Trap” buttons while they advocated for affordable housing at the Capitol.   We are so grateful […]

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A companion bill to HF 2293 (Atkins) enacting payday lending reform was introduced in the Senate yesterday and referred to the Senate Commerce Committee. SF 2368 was introduced by Senator Jeff Hayden, “a bill for an act relating to commerce; regulating payday lending”, according to the Senate Journal March 6. Co-authors are Sen. Kevin Dahle, […]

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The House Commerce Committee heard the Payday Lending Reform Bill (HF 2293, Atkins; SF 2368, Hayden) today, with State Rep. Joe Atkins presenting it. Testimony in favor of the bill included Brian Rusche of the Joint Religious Legislative Coalition, Darryl Dahlheimer and Cherrish Holland of Lutheran Social Services Financial Counseling, and Reneé Bergeron, citizen of […]

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Minnesotans for Fair Lending is releasing information today about payday lending in Minnesota, including the overall number of payday loans made in the state, how much money is drained from Minnesota’s families annually due to payday loans, and the difference between a payday lender and an “industrial loan and thrift” lender (clue: one operates via […]

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