Payday Lending

Payday loans are marketed as emergency small dollar loans. But with annual interest rates that average 400%, these loans are dangerous debt traps and have a devastating effect on low-income communities, and disproportionately, people of color.

Payday lending is illegal in New Jersey, however payday lenders prey on New Jersey consumer online or serving in the armed services out of state. NJCAEF is educating policymakers and the public on the need for a strong payday lending regulation from the Consumer Financial Bureau to protect consumers in New Jersey from predatory payday lenders and their debt trap loans.

For more information on these efforts, contact Beverly Brown Ruggia at If you have been a victim of payday lending, and would like to submit a complaint to the CFPB, click here.