Oppose House Bill 353: Speak up now to prevent title pawns from re-defining usury laws!
Under intense lobbying from the Title Pawn industry, House Bill 353 passed out of Subcommittee last week with a favorable recommendation and moves to the full Regulated Industries Committee and likely the full House this week for a vote.
Title pawns are abusive, high-interest loans that use the title to the borrower's car as collateral, often trapping consumers in a cycle debt. The loan amounts can be for as little as a few hundred dollars, but can have annual percentage rates in the triple digits and lead to the loss of a vehicle. For more information on this bill, see
Take Action.
Action needed on HB 353:
Please help us stop this predatory product!
We urge you to stand up for Georgia consumers by calling the officials listed below and asking them to:
Please oppose HB 353. Your message can be that simple.
Additionally, you can say:
1) It is an unnecessary financial product in Georgia.
2) If any changes are made in the title pawn statute, they should be to benefit consumers, not harm them.
The following House members are key to stopping the legislation in Committee:
