About

Stop Debt Trap Logo

Minnesotans for Fair Lending (MFL) is a non-partisan campaign dedicated to reforming and eradicating predatory aspects of payday lending in Minnesota.

By design, payday loans trap consumers in a downward spiral of debt.

Payday loans are small-dollar, high-interest loans that require full payback within a short period of time. The typical payday loan borrower in Minnesota is indebted by payday loans for more than half of the year, taking out an average of ten payday loans per year – at triple digit interest rates that, depending on the loan, can exceed 800%.

Financially stressed Minnesotans need access to affordable small-dollar loans – not usurious loans that make our communities worse off.

MFL brings together advocates to support the following principles:

1. Payday lenders shouldn’t make loans that the borrower cannot pay back.
2. A reasonable cap on the number of number of loans per year a payday lender can make to a single borrower.
3. 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%.

Endorsing Organizations: 

AARP
AFL-CIO
AccountAbility MN
A Minnesota Without Poverty
Amherst H. Wilder Foundation
Camphor Fiscally Fit Center
Children’s Defense Fund – MN
Community Emergency Assistance Program
Downtown Congregations to End Homelessness
Greater Minneapolis Council of Churches
His Works United
Holy Trinity Lutheran Church – Minneapolis
ISAIAH
Jewish Community Action
Joint Religious Legislative Coalition
Justice & Witness Team of the Minnesota Conference United Church of Christ
Legal Services Advocacy Project
Linden Hills United Church of Christ – Minneapolis
Lutheran Coalition for Public Policy in MN
Minnesota Coalition for the Homeless
Minnesota Community Action Partnership
Minnesota Credit Union Network
Minnesota Foodshare
Minnesota Partners to End Hunger
Minnesota Unitarian Universalist Social Justice Alliance
National Association of Social Workers – Minnesota Chapter
Neighborhood Development Alliance
Open Access Connections
Spirit of Hope Community – Sunfish Lake
St. Stephen’s Human Services
United Food & Commercial Workers 1189
Visitation Monastery of Minneapolis
YWCA of Minneapolis

Join the Campaign! You can download and fill out the MFL Organizational Endorsement Form to become a campaign member. Please submit to Jennifer Nelson, jennifer@jrlc.org

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