Outpouring of Opposition does not Break Payday Lenders’ Hold on Florida Legislature as Payday Loan Expansion Bill Races to Governor
Posted on March 8, 2018
Faith leaders, civil legal rights teams, state and community advocates’ objections fall on deaf ears as Florida home joins Senate in moving a brand new 200% interest predatory loan bill
The House voted to pass SB920/HB 857 today, a bill that a spokesperson from the Office of Financial Regulations admitted to a reporter was proposed and “run” by the payday lending industry as a new report shows payday lenders have invested at least $8 million in Florida since 2007 between campaign contributions and lobbying expenses.
The bill, which passed the Florida Senate on a uncommon saturday session called by President Negron to debate measures to handle weapon physical physical physical violence, now heads to Governor Scott, who could destroy the measure by having a veto. The balance would twice as much quantity lenders may loan to every debtor while increasing the fee to your customer for the loans, with rates of interest over 200% yearly.
Groups opposing the balance are the NAACP Florida State Conference, Florida AARP, Florida Veterans for commonsense, League of Southeastern Credit Unions, UnidosUS, Florida Conference of Catholic Bishops, Hispanic Unity, Florida Prosperity Partnership, Jacksonville Area Legal Aid, Cooperative Baptist Fellowship of Florida, 11th District Episcopal AME Church, Latino Leadership, Beaches Habitat for Humanity, Legal help of Palm Beach County, Legal help of Collier County, Catalyst Miami, Solita’s home, Raise Florida system, Legal Aid of Broward County, Manatee Community Federal Credit Union, Jacksonville Area Legal Aid, Tallahassee-Leon Federal Credit Union, Florida Legal Services among others. Continue reading « Outpouring of Opposition does not Break Payday Lenders’ Hold on Florida Legislature as Payday Loan Expansion Bill Races to Governor » →