Author: Tori Ostenso

I428

Initiative 428: A historical achievement

This blog post is in collaboration with Tori Ostenso, Economic Justice community organizer and Bhagya Pushkaran, Economic Justice intern. Over 700,000 Nebraskans, or over 83%, voted FOR Initiative 428 in the 2020 election to reform payday loans and cap interest at 36% APR (annual percentage rate) (1, 2)., This landslide victory over predatory lending practices in Nebraska resulted from years… Read more →

Help protect Nebraskans from being caught in a cycle of debt

For years, payday lenders have issued predatory, fee-packed loans to our neighbors across Nebraska. Payday loans are designed to trap borrowers in a cycle of debt that is extremely difficult to break. Just last year, the Nebraska Department of Banking reported the average contracted annual percentage rate on payday loans was 405%. Marketed as a short-term fix, the loan terms… Read more →