We are very excited to share that Exodus Lending has incorporated the Minnesotans for Fair Lending (MFL) into our organization. MFL is a non-partisan campaign and coalition dedicated to eradicating the predatory aspects of payday lending across Minnesota and nationally. For years, MFL has successfully used grassroots organizing to advance economic justice in Minnesota. Their accomplishments include passing the first-ever municipal interest rate cap by city ordinance in Moorhead in 2020.
As of September 1, we welcomed back our co-founder, Meghan Olsen Biebighauser, as Organizing Director with Exodus Lending. She leads a team that includes former Moorhead City Council member and current MFL City Policy Specialist, Heidi Durand, and local organizer, Sophia Hoiseth. They are currently working to replicate the “Moorhead model” in cities across the state, including in the City of Mankato. Ultimately, these local solutions could help Minnesota join the 18 states and D.C. with a statewide 36% rate cap.
– Meghan Olsen Biebighauser, Organizing Director
As part of this merger, Exodus Lending will take over operational oversight from the Minneapolis Area Synod of the ELCA. We are grateful to them for putting their faith and trust in us to carry on this work. Additionally, we are thankful to Bush Foundation and The Impact Project for their investment and partnership. Thank you also to our creative friends at Slalom who redesigned the MFL brand and pages on our website. And lastly, we are excited to work with you to fight and finance our way toward more equitable lending.
-Anne Leland Clark, Executive Director
In case you missed it, here are some of the latest news items on predatory lending:
Exodus Lending E-Newsletter: October 2022