There will be a large rally of hundreds of people, organized by Illinois People’s Action, to convince the Bloomington City Council that interest rates on loans should be capped at 36% within city limits. The rally starts at 5 pm, Monday, September 26, in front of Bloomington City Hall (109 E. Olive, Bloomington, IL).
The proposed ordinance targets payday lenders who, through shady practices and promises of easy cash, ensnare working people into a web of financial debt. Payday lenders charge up to 400% annualized interest on loans.
The Stop the Loans Sharks Rally will begin at 5 pm with a full program of addresses, chants, prayer and fun. Then at 5:45, rally participants are invited to listen to the council discussion of payday lending.
There has been much publicity for the rally in recent days. You can find local coverage below, as well as the rally promo video.