Reposted by @stevenraga.bsky.social
🚨 New @neweconomyproject.bsky.social report: Payday loan apps have extracted $500M+ from working New Yorkers through usurious fees.
Albany must pass the End Loan Sharking Act, from @samrabrouk.bsky.social & @stevenraga.bsky.social, to stop these Big Tech predators.
www.thecity.nyc/2025/03/27/p...
thecity.nyc
Payday Loan Apps Cost New Yorkers $500 Million Plus, New Study Estimates
New Economy Project and other groups urge governor to enforce interest rate limits, as the legislature weighs whether to expand or rein in the fintech industry’s reach.
