Minnesotans for Fair Lending (MFL) is a non-partisan campaign dedicated to reforming and eradicating predatory aspects of payday lending in Minnesota.
MFL brings together advocates to support the following principles below:
- Payday lenders shouldn’t make loans that the borrower cannot pay back.
- A reasonable cap on the number of number of loans per year a payday lender can make to a single borrower.
- Payday lenders should always inquire about the borrower’s military status in order to assure compliance with the federal law capping interest rates to service members and their families at 36%.