Borrowers across the country deserve stronger protections, not weaker ones. Unfortunately, the Consumer Financial Protection Bureau (CFPB) recently decided to reopen its 2017 rulemaking on payday lending. And that move would put the financial health of hundreds of thousands of people at risk.

The CFPB director seeks to eliminate a requirement for payday lenders to determine whether borrowers have the ability to repay before lending to them. Abandoning this protection will leave borrowers at the mercy of high-cost lenders across the United States.

It’s time to speak out. The CFPB’s public comment period on this proposed change is open through May 15. So click here to tell the CFPB that its plan to end this consumer protection is shortsighted, harmful and contrary to the agency’s purpose.

This harmful proposal shows that Alabamians can’t rely on the federal government alone for consumer protection. The hostility to the CFPB’s rule by the very people who should be defending it proves that we need to seek change through the Alabama Legislature.

The 30 Days to Pay bill, sponsored by Sen. Arthur Orr, R-Decatur, and Rep. Danny Garrett, R-Trussville, would be a good start. This plan would extend the repayment period for payday loans to at least 30 days, up from the usual two weeks now. That would reduce the maximum annual percentage rate (APR) by roughly half, from 456 percent to about 220 percent.

We need you with us this year as we work to change policies that leave thousands of struggling Alabamians in a cycle of deep debt. Together, we can build a better Alabama for all!