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In a letter to the House Financial Service Committee, 120 consumer, civil rights, labor, community and legal services organizations including WV CAG voiced their opposition to HR 4439 (Hollingsworth), the so-called Modernizing Credit Opportunities Act. The bill would allow payday lenders to use the fine print of loan terms and sham rent-a-bank arrangements to make loans at 100% to 400% APR or higher in states where those rates are illegal. The bill would undercut the historic power of the states to protect people from dangerous, usurious loans.