Public opinion is extremely clear: Hoosiers want to see reforms to payday lending. But HB 1319, set for a hearing in House Financial Institutions on Wednesday, January 23rd at 3:30pm, would actually move in the opposite direction. Currently, payday lenders can only offer installment loans if they remain under Indiana's criminal loan sharking law, which caps fees and interest at 72% APR. This new bill would allow them to offer larger, longer-term loans at over 200% APR.

Last year, 19 individuals testified against a similar bill in the Senate, including the Indiana Military / Veterans Coalition, faith leaders, former payday borrowers, financial counselors, and other human service organization representatives. The bill died in committee by one vote. Read more about this dangerous new product, public policy polling on this issue, and the Institute's research here.

CALL YOUR REPRESENTATIVE on the House Financial Institutions Committee and ask them to vote NO ON HB 1319!

Burton, Woody (Chairman)	317-232-9648
Beumer, Greg	317-234-9028
Culver, Wes	317-234-9380
Ellington, Jeff	317-234-3827
GiaQuinta, Philip	800-382-9842
Hamilton, Carey	317-232-9781
Heaton, Robert	317-232-9981
Heine, Dave	317-232-9833
Moed, Justin	800-382-9842
Schaibley, Donna	317-234-2993
Shackleford, Robin	800-382-9842
Speedy, Mike	317-232-9863
Washburne, Thomas	317-232-9648