Reform Principles

Fair loans and associated fees are justifiably priced, which includes some form of fee limits.

Fair loan products are structured for successful repayment.

Fair loans are made based on a realistic assessment of the borrower’s ability to repay, with loan amounts limited to a reasonable share of the borrower’s income.

Fair loans are structured to allow payments to reduce the loan principal without incurring penalty or other fees.

Fair loan terms and conditions are clear, linguistically appropriate, and transparent in all advertising, disclosures, and contracts.

Fair loans are structured to allow the borrower to build a positive repayment history and credit score.

Fair loans are transparently regulated and vigorously enforced.