Predatory payday loans are becoming more and more popular. With the rise in “Buy-Now-Pay-Later” and short-term cash advance apps, it’s easier than ever for lenders to prey on borrowers in vulnerable circumstances. Now, anyone can fall into an endless cycle of debt – without ever leaving their home.

Unlike traditional payday lending, Buy-Now-Pay-Later apps exist in a legal gray area and are largely unregulated. Legislation created to prevent payday lenders from imposing high APR rates on borrowers – like the Truth in Lending Act – don’t apply to apps, so state laws are pretty ineffective in protecting borrowers.

According to a study conducted in California, Buy-Now-Pay-Later app users end up taking out 36 loans per year on average. As these apps only continue to increase in popularity, we need to urge lawmakers to introduce federal legislation that will regulate and protect borrowers from payday loan apps.