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alp227

(32,025 posts) Tue Dec 31, 2013, 01:59 AM Dec 2013

Texas state Sen. Wendy Davis calls for official's removal over payday lending views

Source: El Paso Times

AUSTIN >> State Sen. Wendy Davis, the likely Democratic candidate for governor, on Monday called on Gov. Rick Perry to remove William J. White as chairman of the Texas Finance Commission.

Davis' call was in response to a story published in Sunday's El Paso Times concerning White's views about payday lending.

The finance commission, which White chairs, oversees the state agency that is supposed to protect Texans from predatory lenders, but White is also a vice president of Cash America, a payday lending company that was sanctioned by the federal government last month for violating the law and obstructing the investigation.

White claimed that Cash America voluntarily reported its violations and suggested ways to fix them.

Read more: http://www.elpasotimes.com/news/ci_24816415/texas-governor-candidate-wendy-davis-calls-officials-removal

El Paso Times report from Dec. 29: Payday-lending official: Borrowers responsible for their decisions:

The official who oversees Texas' consumer watchdog says payday-loan customers -- not the lenders -- are responsible when the loans trap them in a cycle of debt.

William J. White says it's out of line to even question an industry that has had its practices called exploitative by many critics, including the Catholic Church.

White was appointed by Gov. Rick Perry to chair the state agency that oversees the Office of the Consumer Credit Commissioner, which is responsible for protecting consumers from predatory lending practices.

More coverage of this story: Dallas Morning News, AP

18 replies

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Highlight:

Texas state Sen. Wendy Davis calls for official's removal over payday lending views (Original Post) alp227 Dec 2013 OP

What a fucker. Not surprised though. Republican Consumer Czar runs a Predatory Loan shop. NYC_SKP Dec 2013 #1

Only Texas has politics so corrupt that it can block its own investigations ... MindMover Dec 2013 #2

In Texas they can murder you and then fire the commission that investigates the murder Major Nikon Dec 2013 #11

Wendy is right!! roody Dec 2013 #3

William White was appointed by Rick Perry to protect poor people from William White. last1standing Dec 2013 #4

OMG Skittles Dec 2013 #5

Some idiots TexasTowelie Dec 2013 #6

aw of course they know - Gov Goodhair is just a corrupt repuke piece of SHIT Skittles Dec 2013 #7

K&R. These people have no shame. Enthusiast Dec 2013 #8

The Fox is guarding the Hen House dem in texas Dec 2013 #9

Why is there no Federal Law prohibiting the existence of these vultures ? King_Klonopin Dec 2013 #10

I always thought the bible came down much harder on usury than on homosexuality independentpiney Dec 2013 #12

They are hypocrites. They act religious and pious Ilsa Dec 2013 #13

29.9% is low these days. Heywood J Dec 2013 #14

I paused the video to look closely at that also. It was like 10,000%. GoneFishin Dec 2013 #17

I think this is a very good thing, actually terrific. Here is why Stuart G Dec 2013 #15

america if full of losers and winners riverbendviewgal Dec 2013 #16

She needs to pin it on his actions, not his views marshall Jan 2014 #18

NYC_SKP

(68,644 posts)

1. What a fucker. Not surprised though. Republican Consumer Czar runs a Predatory Loan shop.

Reply to alp227 (Original post)

Tue Dec 31, 2013, 02:07 AM

Dec 2013

MindMover

(5,016 posts)

2. Only Texas has politics so corrupt that it can block its own investigations ...

Reply to alp227 (Original post)

Tue Dec 31, 2013, 02:08 AM

Dec 2013

Don't ya just love Texas politics ...

Major Nikon

(36,827 posts)

11. In Texas they can murder you and then fire the commission that investigates the murder

Reply to MindMover (Reply #2)

Tue Dec 31, 2013, 03:56 AM

Dec 2013

http://www.cnn.com/2011/POLITICS/09/07/texas.execution.probe/

roody

(10,849 posts)

3. Wendy is right!!

Reply to alp227 (Original post)

Tue Dec 31, 2013, 02:10 AM

Dec 2013

last1standing

(11,709 posts)

4. William White was appointed by Rick Perry to protect poor people from William White.

Reply to alp227 (Original post)

Tue Dec 31, 2013, 02:21 AM

Dec 2013

Has no one called for Perry's recall or asked him to step down for massive corruption?

Skittles

(153,160 posts)

5. OMG

Reply to alp227 (Original post)

Tue Dec 31, 2013, 02:31 AM

Dec 2013

Cash America does not see his appointment to the Commission as a conflict of interest," the statement said.

TexasTowelie

(112,204 posts)

6. Some idiots

Reply to Skittles (Reply #5)

Tue Dec 31, 2013, 02:33 AM

Dec 2013

don't understand the difference between being a regulator and being the regulated. Obviously, Prick Perry is one of those idiots to let this fox guard the hen house.

Skittles

(153,160 posts)

7. aw of course they know - Gov Goodhair is just a corrupt repuke piece of SHIT

Reply to TexasTowelie (Reply #6)

Tue Dec 31, 2013, 02:35 AM

Dec 2013

yes INDEED

Enthusiast

(50,983 posts)

8. K&R. These people have no shame.

Reply to alp227 (Original post)

Tue Dec 31, 2013, 03:32 AM

Dec 2013

None.

dem in texas

(2,674 posts)

9. The Fox is guarding the Hen House

Reply to alp227 (Original post)

Tue Dec 31, 2013, 03:32 AM

Dec 2013

So typical of Rick Perry and his appointees. Screw the consumer, line the pockets of his rich contributors.

King_Klonopin

(1,306 posts)

10. Why is there no Federal Law prohibiting the existence of these vultures ?

Reply to alp227 (Original post)

Tue Dec 31, 2013, 03:52 AM

Dec 2013

It is not "lending", it is usury. Why is it allowed ?
Why are credit card lenders allowed to charge 29.9% interest ?
Everybody knows this is loan-sharking, yet it exists in plain site.

Bigger rhetorical question: what kind of person would defend this
practice, and adopt as a business model "screwing poor people" ?

independentpiney

(1,510 posts)

12. I always thought the bible came down much harder on usury than on homosexuality

Reply to King_Klonopin (Reply #10)

Tue Dec 31, 2013, 09:19 AM

Dec 2013

It would be nice if all the fine christian people redirected their efforts accordingly.

Ilsa

(61,695 posts)

13. They are hypocrites. They act religious and pious

Reply to King_Klonopin (Reply #10)

Tue Dec 31, 2013, 09:20 AM

Dec 2013

but usury is condemned in the Bible.

Heywood J

(2,515 posts)

14. 29.9% is low these days.

Reply to King_Klonopin (Reply #10)

Tue Dec 31, 2013, 12:22 PM

Dec 2013

My all-time favorite was one of the late-night commercials where the fine print said the loan worked out to something like 10,000% interest. It wasn't a two-week loan...

GoneFishin

(5,217 posts)

17. I paused the video to look closely at that also. It was like 10,000%.

Reply to Heywood J (Reply #14)

Tue Dec 31, 2013, 09:09 PM

Dec 2013

Last edited Sat Jan 4, 2014, 08:56 PM - Edit history (1)

On edit, I tried to confirm the true number in the fine print disclaimer on the TV commercial and I am unable.

The highest rate I can find on line now for Western Sky is 355%, but I know the TV ad was a lot more.

Stuart G

(38,427 posts)

15. I think this is a very good thing, actually terrific. Here is why

Reply to alp227 (Original post)

Tue Dec 31, 2013, 12:38 PM

Dec 2013

Perry will not fire Mr. White. (he may resign, don't count on it)

So, the discussion from now on, could center on payday lending companies.
Payday loan companies are some of the biggest assholes in a sea of assholes. gouging consumers.

As the argument goes back and forth,
it will become clear, who is for the rich assholes, and who is for the average consumer..

This could define the campaign, and if it does, Davis wins..

riverbendviewgal

(4,252 posts)

16. america if full of losers and winners

Reply to alp227 (Original post)

Tue Dec 31, 2013, 08:12 PM

Dec 2013

he is a winner...survival of the richest...America's motto.

marshall

(6,665 posts)

18. She needs to pin it on his actions, not his views

Reply to alp227 (Original post)

Wed Jan 1, 2014, 09:37 AM

Jan 2014

We shouldn't become the thought police, but we should hold others accountable for actions, for things they actually DO, rather than just think about doing.

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