Overview

With the state lacking interest rate limits, payday and car title lenders moved into Oregon in the 1990s and began charging triple-digit interest rates on loans that trapped borrowers in debt. These lenders sold short-term, high-interest loans to cash-strapped Oregonians, and structured the loans to trap borrowers in a cycle of debt.

In response, OSPIRG consumer advocates documented the problem, built alliances with concerned organizations and community leaders, and advocated reform. More.