AOC's Loan Shark Prevention Act -- which will be introduced by Sen. Bernie Sanders in the Senate -- would cap interest rates on all consumer loans issued in the United States at 15%.
Right now, banks and payday lenders are allowed to charge sky-high interest rates and reap the profits -- all while regular Americans get stuck in a debt trap.
This bill would effectively eliminate the shady payday lending industry and bring rampant credit card debt under control for ALL Americans, regardless of their credit score.
This would have enormous effects for millions of families across the country. But Wall Street and the big banks are going to fight it tooth and nail. We need as many DFA members as possible to sign on as citizen co-sponsors of this crucial legislation.
Add your name today and become a grassroots co-sponsor of the Loan Shark Prevention Act.