It's time for to stop predatory lending: 400% is just too high

Voting for Initiative 428 would protect vulnerable Nebraskans, reducing payday loan interest to no more than 36% APR.

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Predatory Payday Lending in Nebraska: Stop 400% Interest Debt Traps

Payday lenders prey on seniors, military veterans, communities fo color and young people, charging Nebraska families an average of 404%, trapping them in a cycle of debt.

Initiative 428 would stop that. It would reduce payday loan interest rates to no more than 36% APR, giving Nebraskans the same protections that active duty military and residents in nearby states like Colorado, North Dakota, and Montana already receive.

Last year, the average Nebraska borrower was charged 404% APR on a $342 loan and was trapped in 10 loans in a single year. Payday lenders drained over $28 million in fees from Nebraskans in 2017, mostly to out-of-state companies.

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How you can help bring the change we need

Who We Are

Nebraskans for Responsible Lending is a coalition of organizations and individuals that are standing with Nebraska families to stop the predatory payday lending debt trap.

AARP of Nebraska
ACLU of Nebraska
Beta Upsilon Chapter of the Omega Psi Phi Fraternity
Community Action of Nebraska
Habitat for Humanity of Omaha
Heartland Workers Center
Immigrant Legal Center
League of Women Voters of Nebraska
League of Women Voters of Greater Omaha
Lending Link
National Association of Social Workers, Nebraska Chapter
Nebraska Appleseed
Nebraska Children’s Home Society
North Omaha Neighborhood Alliance
Omaha Together One Community
Voices for Children in Nebraska
Women's Foundation of Lincoln and Lancaster County
Women’s Fund of Omaha
Youth Emergency Services
YWCA of Lincoln