The Payday Loan Shark
Description: The Payday Loan Shark has massive teeth, which are positioned in rows and serrated. When the Payday Loan Shark attacks, it bites its prey and shakes it head back and forth. The serrated teeth act as a saw and literally tear the community apart. We’ve captured rare video footage of these money massacres.
What can YOU do to help educate yourself and your communities about this wily predator?
Step One: Watch this informative video: http://www.youtube.com/watch?
Step Two: Share it with your friends.
Step Three: Contact the Colorado Progressive Coalition to get involved in our campaign to reform payday lending in Colorado. Check out www.progressivecoalition.org or call 303-866-0908.
The Colorado Progressive Coalition asks all concerned individuals to call their legislators and demand that Payday Loan Sharks no longer be allowed to charge 500% interests on loans to people in desperate economic situations by passing HB1351.
Diet: As predators at the bottom of the economic food chain, Payday Loan Sharks devolved to hunt and eat large amounts of low-income people and their money. These exploitive predators violently manhandle people’s money, yanking and twisting more and more money from victims who have been lured into a vicious cycle of debt. Attacks can be brutal and these sharks are constantly on the lookout for low-income people to exploit. A Payday Loan Shark’s diet primarily consists of money from people in desperate situations: single parents, people without insurance who need to pay for medicine or treatment, people who need to get their car out of the shop, and the working poor. People who can get emergency loans from friends or family are not on the menu. These people need access to short-term credit: but at prices that are fair, not exploitive.
Range/Habitat: Payday Loan Sharks are most commonly observed throughout the state’s low-income communities. Highest concentrations are found in communities that have been particularly hard hit by the economic downturn. The Payday Loan Shark is also found in many other economically distressed parts of the country, though some states have effectively eliminated the beast through regulation. They generally prefer high elevation habitats like Colorado where lawmakers allow Payday Loan Sharks to charge whatever interest rates they wish (often upwards of 500% in Colorado).
Reproduction: A Payday Loan Shark has never been observed giving birth. However, there has been an explosion in the Payday Loan Shark populations in Colorado, where there are now more payday loan locations than McDonalds and Starbucks combined!