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.
Bloomington Aldermen to Tackle Payday Lending; Group Plans Rally – WJBC
City of Bloomington to Discuss Payday Lending – WEEK/WHOI
Rally Against Payday Lending Planned – WGLT
Cap 36% Website
Cap 36% Facebook Fan Page
Cap 36% ‘Stop the Loan Sharks’ Rally Page
Illinois People’s Action Website
Cap 36% Youtube Channel
Cap 36% Twitter
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