Loan Shark Prevention Act

I’m running for Congress on a Make it Fair agenda for my community here in North Carolina. I fight to make our Democracy fair; to make our economy fair for our working class; and to help make our politics finally work for every single American. Part of that broad agenda also means to stand for working class Americans against predatory lending.
Originally sponsored by Congresswoman Ocasio-Cortez of New York and Senator Sanders of Vermont, The Loan Shark Prevention Act would impose a federal %15 interest rate cap on any financial product and line of credit in the country. And I’m all for it.
 
I don’t believe Americans should be penalized for being poor or having bad credit. Imposing interest rates higher than %15 burdens Americans further into debt – and we owe it to every working American to help set the conditions on the ground for their economic independence.
 
In addition – I support going further for our law enforcement, teacher, and firefighter community. Congress should pass a Public Service Relief Act – which caps their specific interest rates for our educators and first responders at %10. Theres no better way to take care of your community than making sure they can take care of themselves. This is the pathway to do it.

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