ACTION ALERT: SB 613 to Receive Hearing on Tuesday
The Network has received word that the House Financial Institutions Committee will hold a hearing on Senate Bill 613 this Tuesday, March 26 at 10:30 a.m.
This damaging bill has already passed the Senate and would:
Create new, longer-term, high-cost payday and subprime loan products for much larger amounts;
Provide payday lenders with access to borrowers’ bank accounts, giving lenders little incentive to ensure a borrowers’ ability to repay the loan and meet other expenses;
Effectively rewrite the definition of criminal loansharking in Indiana.
The Network, along with a coalition of nearly 70 organizations, urges opposition to this bill that would bring about further financial peril for distressed borrowers, increasing their risk of bankruptcy, delinquency, and getting stuck in a spiral of debt.
We need members of the House to hear from you now.
How you can help:
Contact your representative and express your OPPOSITION to SB 613. If you are unsure of who your representative is, click this link.
Indiana House Democrats: (800) 382-9842
Indiana House Republicans: (800) 382-9841
Please share this request on social media
Pass this request along to your friends, family, and neighbors. The more constituents we have expressing their views on this bill, the better our chances of winning this battle for Hoosier consumers.
To learn more about SB 613, the hearing, or about consumer financial protections in Indiana, contact Logan Charlesworth, Indiana Assets & Opportunity Network Manager.
Thank you for your advocacy!