Public Gets a Chance to Speak

Posted On: February 28, 2010 at 1:18 p.m.

Filed Under: payday loan Social Development Commission

In this heated battle over payday loan lending, I have been frustrated to see that the debate is going on between wealthy lobbyists and wealthy lawmakers. What about the consumer? Reports in the past have shown that the industry is helping all kinds of middle-class people, not just preying on the poor. So it is nice to see that the public in Milwaukee is finally getting a chance to voice their position about the industry. Here’s what the Journal Sentinel out of Milwaukee is reporting: “The Social Development Commission is holding a public hearing on March 9 on pending legislation regulating payday lending in Wisconsin. [[ads]] The hearing will take place from 4:30 to 8 p.m. at the Washington Park Senior Center, 4420 W. Vliet St., Milwaukee. The SDC wants people to have their say about the lending practice. Their testimony will be given to state officials over pending payday lending legislation. The Assembly Financial Institutions Committee is expected to vote on a bill Wednesday that would limit payday loans to $600 and bar borrowers from taking out more than one loan at a time. Details of the legislation are still being ironed out and will be announced at the Capitol on Tuesday at 10 a.m.” (http://www.jsonline.com/news/milwaukee/83826977.html). Those of you from Wisconsin—this is your chance!

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