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New study on payday loan stores with interactive map | 8 comments (8 topical)
Chair Kills Bill
According to the Seattle Times this morning, Rep. Steve Kirby (D-Ft. Lewis), Chair of the House Insurance, Financial Services and Consumer Protection Committee, will not bring Rep. Appleton's bill before the committee, effectively killing that bill for this session. Kirby is quoted as saying, "Rather than the nuclear option, which is just to ban them [payday loans] in this state, we are trying to do things that interrupt the cycle of revolving debt..."


Immediately after killing the Appleton bill, Kirby introduced one of his own that would simply allow the borrower a once per year opportunity to set up a 60 day installment plan at no additional charge. This bill would otherwise leave rates and fees unchanged.


Money Tree CEO, Dennis Bassford (a maximum contributor to Kirby's election campaign), is more suppoprtive of the Kirby bill saying, "It is certainly a better attempt at good regulation than what it is being proposed by Rep. Appleton..."


Can we get a handwriting analyst over here?


Peace,
Chad (The Left) Shue  

by The Left Shue on Fri Feb 02, 2007 at 06:57:24 AM PST

* 3 none 0 *

New study on payday loan stores with interactive map | 8 comments (8 topical)

 

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