Let’s stop this outrageous bank scheme!

[Consumer Reports]   Dear Friend, There is still time for you to help hold certain banks accountable for shady lending schemes that can charge cash-strapped consumers interest rates as high as 100 percent or more! We’ll soon be delivering our petition to federal regulators to clamp-down on these schemes that prey on struggling families in need of basics like car repairs or essential home goods. And we need your help to show that consumers have had it with unfair, outrageous behavior by these banks. [Can you add your name to our petition? We will be delivering it in days to the FDIC demanding action.](  [Sign the petition](  Here’s how the scheme works: if you can’t afford that needed car repair or don’t qualify for traditional credit for home furnishing, you’re offered a ‘90-day same as cash’ financing offer. If you fail to pay within the window, interest rates of 100 percent or more kick in, making paying off the loan nearly impossible. Most states have laws to prohibit these outrageous loan rates, but a company can evade state regulations by teaming up with a bank in a state with no rate-cap laws. It’s called the “Rent-a-Bank” scheme, and it’s leaving countless consumers in more debt! The FDIC can stop this practice right now by banning banks from participating in these schemes. [Can you sign our petition, and help put an end to banks fronting for predatory lenders that charge ultra-high interest rates?](  [Sign the petition](  After you send your message, forward this email to family and friends so we can grow our numbers and increase the pressure on the FDIC to take action now. Thanks for adding your name today. Marcus Jones Consumer Reports [Unsubscribe from Consumer Reports action alerts.]( © 2022 Consumer Reports, 101 Truman Avenue, Yonkers, NY, 10703 [Contact Consumer Reports](