1. Be afraid, be very afraid!

2. Payday Loan Videos  Video 1 – Rachel Maddow Show on MSNBC Video 1 – Rachel Maddow Show on MSNBC

3. Payday Loan Videos  Payday Lender Video Payday Lender Video  Overdrawn Account Analogy  “The Reel Deal” “The Reel Deal”  The Center for Responsible Lending Response  Payday Lender Video 2 Payday Lender Video 2  Payday Loan Fees Comparison  “The Reel Deal” “The Reel Deal”  The Center for Responsible Lending Response  Final Payday Lender Warning Final Payday Lender Warning  Payday Lending- A 400% Interest Debt Trap

4. Payday Lending in Utah Utah payday loans, by the numbers  Average annual percentage rate charged 473.52%  Highest interest charged by a payday lender 1,564%  Average time a customer takes to pay off a loan 33 days  Average loan amount $358  Number of payday-loan stores in Utah: 565  Source: Utah Department of Financial Institutions  Salt Lake Tribune, 11/15/2013

5. 2014 Amendments to Utah Law regarding Payday Lending The amended law…  gives borrowers 60 days after reaching the 10-week limit to pay off the debt without lenders taking further action against them.  requires lenders to file any default lawsuits where borrowers live or obtained the loan. Many lenders now make customers waive that right.  requires lenders to do at least minimal checking to see if borrowers can afford loans and rollovers. And it requires the industry to report to the state how many loans go the full 10 weeks, how many end up in default, and the amounts involved.