- payday loans
- United States of America
Payday lenders are required to use a system called "veritec" to regulate payday loans in Oklahoma. Many consumers are falling into a never ending cycle of debt because Oklahoma does not require ALL class "B" lenders to use veritec system; therefore, allowing consumers to have several open loans with an APR up to 300% out at once.
We, the undersigned, call on the Law Makers of Oklahoma to require ALL class "B" lenders to use the veritec system.
Lenders should not force consumers further into debt by allowing too many high interest loans to one individual.
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The Oklahoma payday loans need veritec petition to payday loans was written by cyndi and is in the category Law Reform at GoPetition.