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Wisconsin
Related: About this forumWisconsin: Another bomb in Wanker's "budget" - Payday Loan Expansion
from my email ...
CALL GOVERNOR WALKER NOW!
The State Legislature pushed through a potentially very damaging provision in the state budget that is now before the Governor. Please call the Governor's office, (608) 266-1212, right now - even after hours - and leave a message: VETO THE EXPANSION OF THE PAYDAY LOAN INDUSTRY. It will only take a minute.
Background: At the very last minute, the Joint Finance Committee added language which would dramatically increase the amount of business that could be done by predatory Pay Day Loan businesses. As the article linked here makes clear, the new law would allow predatory lending establishments to get involved in all kinds of businesses, ranging from insurance to liquor stores, thus increasing their capacity to squeeze even more money from the people who can least afford it.
Besides being bad policy that makes it easier to exploit vulnerable people, it is a policy change that was introduced in a very undemocratic way. There has been no hearing on the matter, and no public discussion. There is not even a single legislator willing to claim it as his or her idea. It is something the legislature is ashamed of: it is why it was done by night.
The Governor needs to veto the provision and instruct the legislature to have the courage to debate the issue on its own merits, rather than try to sneak it into the budget.
The State Legislature pushed through a potentially very damaging provision in the state budget that is now before the Governor. Please call the Governor's office, (608) 266-1212, right now - even after hours - and leave a message: VETO THE EXPANSION OF THE PAYDAY LOAN INDUSTRY. It will only take a minute.
Background: At the very last minute, the Joint Finance Committee added language which would dramatically increase the amount of business that could be done by predatory Pay Day Loan businesses. As the article linked here makes clear, the new law would allow predatory lending establishments to get involved in all kinds of businesses, ranging from insurance to liquor stores, thus increasing their capacity to squeeze even more money from the people who can least afford it.
Besides being bad policy that makes it easier to exploit vulnerable people, it is a policy change that was introduced in a very undemocratic way. There has been no hearing on the matter, and no public discussion. There is not even a single legislator willing to claim it as his or her idea. It is something the legislature is ashamed of: it is why it was done by night.
The Governor needs to veto the provision and instruct the legislature to have the courage to debate the issue on its own merits, rather than try to sneak it into the budget.
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Wisconsin: Another bomb in Wanker's "budget" - Payday Loan Expansion (Original Post)
Scuba
Jul 2015
OP
Blue Owl
(50,400 posts)1. Motherfocker...
Lefta Dissenter
(6,622 posts)2. I work for a bankruptcy attorney.
I see the ugliest side of these immoral con artists. I have seen interest rates of over 1,000% ! Yes, that's right, over a thousand percent interest on a loan. I've had more than one client tell me that they got what they thought was a pretty reasonable interest rate of 12% or even 20%. What they didn't realize is that those numbers are the monthly interest charges! These payday loan people are crooks, and they're evil people who take advantage of, and then harass endlessly, those who are most vulnerable. I can't stand seeing these people granted even more leeway to fuck people over.
Scuba
(53,475 posts)3. Can you imagine what they'll do when they can add booze and insurance to their toxic mix?