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FACT SHEET: Private Equity-Owned Payday Lenders Profit Off Trapping People in Debt

January 4, 2022

Private equity has pushed into the high-priced consumer loan industry, offering payday and other consumer loans that profit off trapping borrowers in a cycle of debt. Private equity firms own over 5,000 storefront payday and online lenders that often make loans at 300% annual percentage rates (APR) and higher.

Say No to Wall Street Looting! Say No to Wall Street Looting! Say No to Wall Street Looting! Say No to Wall Street Looting!

Tell your legislator to support the
Stop Wall Street Looting Act!

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SWSLA would:

  • Make PE execs legally liable for the damage they cause
  • Stop looting that enriches PE executives at the expense of workers, communities, and businesses
  • Close tax loopholes and change rules that encourage predatory financial activities
  • Protect workers if employers go bankrupt
  • Require PE firms to be fair and transparent to investors in disclosing costs and returns