Shark Week campaign to stop predatory lending practices

The Hill reports:

A liberal group that advocates for racial and economic reform is using Shark Week on the Discovery Channel to call attention to predatory payday lending practices.

National People’s Action (NPA) is comparing marine sharks to payday loan sharks who they say trap 12 million Americans in a devastating cycle of debt annually.

On Monday, NPA launched its second annual #Sharkweek Campaign to Stop Predatory Lending Attacks with a petition that asks the Consumer Financial Protection Bureau (CFPB) to crack down on predatory lending practices that cost more than half of all borrowers who renew their loans more in fees than the loans they take out.

The full story is here.