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Call Your Senator Today:Oppose HB 2191

6/12/2012

5 Comments

 
Last week, the House approved 300% interest rate debt to come flooding into the state.  The House passed a bill to legalize predatory payday loans by a slim margin. (See how your representative voted here.)  Now, the decision now rests in the hands of your Senator.  Call today to urge them to oppose these predatory payday loans.

Let your Senator know that Pennsylvania voters don’t want to see these high-cost unsustainable payday loans coming into the state.   These types of loans are already highly regulated in the Commonwealth, even for loans made over the internet.  HB 2191 is unnecessary regulation that worsens the problems it creates to solve.  Call your Senator today to reject this unnecessary legislation. 

In other states with laws like HB 2191, the long-term payday loan debt trap is the norm.  Where payday lending is legalized, just like HB 2191 seeks to do, the typical borrower is indebted for more than 200 days a year.  And, the long term debt trap is the core of the business model as they generate more than 60% of their revenue from loans to borrowers with more than 12 loans a year.  Tell your Senator to oppose HB 2191 because it writes the debt trap into state law. 

Let your Senator know too that the media is watching too. Just recently the Pittsburgh Post Gazette, Butler County Eagle,   Lancaster Sunday News, and Bucks County Courier Times issued strong editorials urging the Senate to reject HB 2191, and the Pennsylvania Military Officers Association of America’s letter to the editor urged legislators to stand with veterans by opposing HB 2191.  

Call your Senator today to urge them to oppose predatory payday loans.

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    News Updates

    • Archives:
    • Letter: A Payday Loan Debt Trap,Pittsburgh Post-Gazette, 05/27/13 
    • Letter: False Claims by Lending Industry, PhillyBurbs.com, 05/24/13
    • Letter: Stop Payday Lending Legislation, McKeesport Daily News, 05/20/13
    • Another Payday Loan Debate on the Horizon, Morning Call, 5/18/13
    • Editorial: Whose Payday?, Daily News, 4/12/13
    • Editorial: Stand firm against payday loans, Erie Times-News, 03/20/13
    • Letter: PA Residents: Oppose payday loans, DelCo News Network, 03/18/13
    • Payday Loan Affordability Fast Facts, Patriot-News, 03/16/2013
    • Letter: Payday loans are like financial quicksand, Morning Call, 03/07/2013
    • Payday loans easy to get into, hard to get out of, Morning Call, 03/02/13
    • Letter: Predatory lending laws create indentured servitude, PhillyBurbs.com, 02/12/13
    • Editorial: Now or later: Payday lending is bad news for PA, Pittsburgh Post-Gazette, 10/09/12  
    • Editorial: Payday lenders looking for prey among the poor, Philly Inquirer, 10/05/12
    • Letter: Lobbyists are winning, Philly Daily News, 10/01/2012
    • Editorial: Keep ban on payday loans, Scranton Times-Tribune, 09/28/12
    • Letter: Keep payday loans out of PA, DelCo Times, 09/28/2012.  
    • Editorial: Payday lending is just in-state debt trap, Towanda Daily Review, 09/28/2012
    • Letter: Payday lending legislation bad for consumers, Morning Call, 09/26/12
    • Editorial: PA Senate Should Reject Payday Loan Bill,
      Lehigh Valley Express Times, 9/24/2012
    • Editorial: It's a no-brainer, payday bill shouldn't pass, Harrisburg Patriot-News, 9/23/12
    • Payday lenders could score with loan act, Philly Tribune, 9/16/12
    • Op-ed: Rejecting Payday Loan Bill Protects Consumers, The Morning Call, 09/15/12
    • Op-ed: Payday Loans Need to Be Opposed
      DelCo News Network, 8/28/2012
    • Op-ed: Payday lending will lead to abuses
      Erie Times,
      8/19/2012
    • Why to Steer Clear of Payday Loans
      Wall Street Journal
      07/29/2012
    • PA Payday Lending: Short-Term Loans, Long-Term Issues
      Public News Services, 5/16/2012
    • Editorial: Keep payday and predatory lenders out of Pennsylvania
      Harrisburg Patriot-News Editorial, 5/08/2012
    • Payday loans may be returning to Pennsylvania
      Allentown Morning Call, 5/6/2012
    • Predatory bill: Lawmakers would victimize low-income borrowers
      Pittsburgh Post-Gazette, 04/23/2012

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