In the wake of the major economic disruption caused by the coronavirus pandemic, many Americans have lost their jobs, incomes and social support. In response, Congress enacted an unprecedented program of relief. But government and civil society must also act to prevent a major spike in predatory debt traps that could undo, for many low-income families, much of the positive impact of the CARES Act.

As part of the Faith for Just Lending coalition, the National Association of Evangelicals asks Congress to include protections of the Military Lending Act, including a 36 percent rate cap, in the next stimulus bill to cover all new loans made to Americans during the coronavirus pandemic crisis. Congress should also pass the Veterans and Consumers Fair Credit Act to ensure that all Americans are afforded this protection on a permanent basis.

Read our statement.