Wednesday, February 16, 2011

Payday Loan Bill Dies in Committee (For Now)

Posted By on Wed, Feb 16, 2011 at 3:50 PM

Following up on my post from earlier this week, possibly due to the outrage of a public that's a little sick of seeing payday lenders come back from the dead again and again, the House Commerce Committee didn't hear HB 2550, which would create a new payday-loan-lite, when the committee's chairman and the bill's author, Jim Weiers, pulled the bill from consideration. My guess is that another legislator will be swayed by the payday lending lobby in the near future and we'll go through this again, but sometimes it's the little victories.

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