“You’re gonna need a bigger boat.”

It’s SHARK WEEK and while ocean going sharks will be in the spotlight, it’s the predatory payday loan sharks that are the real danger in our neighborhoods.

This year, we’ve got a chance to build a lifeboat to keep our families out of harm’s way with new proposed rules from the Consumer Financial Protection Bureau. The only problem is that the boat is full of holes, and a leaky boat won’t keep the loan sharks at bay.

Click here to tell the CFPB to plug the holes and save our families from loan sharks.

The businsundayess model of payday and car title loan sharks is to keep people trapped in endless cycles of debt. These sharks rely on direct access to borrowers’ checking accounts and holding title to your car to get paid first. That’s the definition of predatory. The CFPB rules must truly shut down the debt trap by letting payday lenders make a loan only when they have made sure the borrower can afford to pay it back.

Click here to make sure the CFPB’s rule is strong enough to #StopTheDebtTrap.

Be sure to follow CUFA’s #SharkWeek social media posts on Facebook and on Twitter.

On Tuesday CUFA visited City Hall to ask Cincinnati City Council members to each send a letter to the CFPB. Visit our Facebook page to see pictures from the action.