Minnesotans Agree:
We built a non-partisan coalition!
The overwhelming support
for a rate cap is Non-partisan.
Regulatory Recap
Our Story
Minnesotans for Fair Lending (MFL) brings together organizations and their people to organize and advocate for reforming or eradicating predatory lending practices. With unwavering resolve, MFL stands at the forefront of a movement that seeks to bring about lasting change and foster a fairer, more just financial landscape.
Minnesotans for Fair Lending played a pivotal role in achieving a significant milestone for consumer protection in Minnesota: the successful passage of a state-wide interest rate cap in 2023. Through advocacy and strategic collaboration, the coalition effectively put an end to the deceptive and detrimental payday loans that have plagued vulnerable communities for far too long.
This legislative victory not only ensures the financial well-being of numerous individuals but also establishes Minnesotans for Fair Lending as a strong advocate in the ongoing fight against predatory lending practices.
Empowered by this legislative win, the coalition is well-positioned to build upon its success and pursue further legislative achievements aimed at dismantling the exploitative nature of predatory lending. We believe that everyone is entitled to just, equitable and responsible financial products and we will continue to advocate alongside Minnesotans directly impacted to put an end to the predatory practices of lenders.
U.S. Payday Lending Regulations By State
**States with some protections include term limits longer than 14 days (NM, OH, OK, OR, VA), limits on fees (OR,ME), and/or number of loans per borrower (WA).
Click on a state to read more about their efforts to end the Payday Loan Debt Trap.
Our Organizing Team
Meghan Olsen Biebighauser
Organizing Director
She/Her
Meghan Olsen Biebighauser joined the staff as Organizing Director in September of 2022. She has worked the last ten years as a community organizer – first at Holy Trinity Lutheran Church in Minneapolis and later at the Minneapolis Area Synod of the ELCA. Meghan was one of the founders of Exodus Lending as it was born out of Holy Trinity’s organizing work, and she’s thrilled to return to Exodus and continue to convene the Minnesotans for Fair Lending coalition.
Sophia Hoiseth
Mankato Organizer
She/They
Sophie Hoiseth works part-time with Exodus Lending as the Mankato Organizer. Outside of fair lending advocacy, they coordinate life-long learning programming for an adult community center. They graduated from Minnesota State University, Mankato with a degree in Political Science.
Heidi Durand
City Policy Specialist
She/Her
Heidi Durand is a local government consultant for Minnesotans for Fair Lending. In addition to
her work for MFL, she teaches Sociology and Anthropology courses at Minnesota State Community and
Technical College in Moorhead, MN. She has been at MState for 21 years.
Heidi served on the Moorhead City Council from 2012-2020, where she first became aware of
the predatory lending problem facing her community. She worked with city staff, officials, and team
members from MFL and Exodus Lending to create a small loan licensing ordinance within the city of
Moorhead. The ordinance was passed in 2020. Since then, she has been working alongside team
members to bring the “Moorhead Model” and public awareness to other cities in Greater Minnesota.