Payday Reform News: October 29- November 4


November 1, WABE 90.1: Georgia Supreme Court Rules Company Violated Payday Lending Ban
The Georgia Supreme Court has ordered Western Sky Financial to pay $15 million, which is about the amount that the company took from borrowers since the case was first filed.
More Coverage:
The Atlanta Journal-Constitution: Georgia Supreme Court Blocks South Dakota Payday Lender
Atlanta Business Chronicle: Georgia Supreme Court Slaps Internet Payday Lender

Blog Posts and Press Releases

Georgia Watch: A Victory for Georgia Consumers in Western Sky

National Council of La Raza: Spotlight on Hispanic Households: Results from the 2015 FDIC Survey of Unbanked and Underbanked Households

National Council of La Raza: D.C. Circuit Court Attempts to Thwart Consumer Protections

Top Stories

November 4, The Logan Daily News: Local Resident Supports Wharton for Congressman
This editorial piece written by a veteran criticizes Ohio House Representative Candidate Stivers for supporting predatory lending, an industry that targets veterans.

November 4, Lincoln Journal Star: Rock Band Uses Music to Teach Financial Literacy
Rock band Gooding is making an effort to teach kids about financial literacy during their tour, specifically pointing out the dangers of payday loans.

November 4, KRWG: Nachison: We Need Merrie Lee Soules in Congress
This editorial piece shows support for New Mexico House Representative Candidate Merrie Lee Soules. The author also mentions that her opponent, Representative Pearce is against capping interest rates on payday loans.

November 3, Las Vegas Now: Lawmakers to Draft Bill to Put Restrictions on Payday Loan Lenders
Nevada state lawmakers are drafting bills for payday lending reforms, including interest rate caps, creating databases and implementing financial literacy programs in schools.

November 3, Truth-Out: From Movement Building to Public Office: The Congressional Bid of Pramila Jayapal
This is an in-depth interview with Washington House Representative Candidate Pramila Jayapal. She mentions that she defended a bill regulating payday lending, and states that Washington has a strong payday rule, although it is not the best.

November 3, Argus Leader: Letter: S.D. ‘Better Off’ With Cap on Payday Lending
This editorial explains the negative impact that not voting for a cap on payday loans would have on communities, and encourages readers to vote ‘yes’ on IM 21 and ‘no’ on Amendment U.
More Coverage:
Argus Leader: My Voice: Support Initiated Measure 21
Rapid City Journal: Amendment U More Costly For Payday-Loan Customers
November 3, The Republic: Advance America Puts Over $75,000 Into Fighting Loan Rate Cap
Credit For South Dakotas, a group opposed to a 36 percent rate cap, has accepted money from payday lending companies across the state, including $75,000 from Advance American alone.
More Coverage:
KELO 107.9: New Radio Ads Blast Payday Loan Measure 21
The Republic: Group Fighting Payday Rate Cap Pumped Over $63K Into TV Ads
Aberdeen News: Group Fighting Payday Rate Cap Pumps Over $63K Into TV Ads

November 2, The Topeka Capital-Journal: Campaign Cash from Payday Loan Industry Under Scrutiny
According to the Center for Responsive Politics, Kansas Representative has allegedly accepting over $248,000 in campaign contributions from people associated with the payday lending industry throughout his career.
More Coverage:
November 2, The News and Observer: Campaign Cash from Payday Loan Industry Under Scrutiny
November 2, The Tribune: Campaign Cash From Payday Loan Industry Under Scrutiny

November 2, Lexington Herald Leader: 6th District Can Do Better with Kemper
This editorial piece advocates for Kentucky 6th District House Representative Candidate Nancy Jo Kemper, mentioning her call for reform in the payday lending industry.

November 2, JD Supra: Payday Lender Pays $3.5 Million to Illinois AG
Illinois Attorney General Lisa Madigan has accused All Credit Lenders for working around Illinois’s 36 percent rate cap with an “account protection fee” that acted as a disguise for charging borrowers higher rates. She announced a settlement of $3.5 million.

November 1, The Kansas City Star: Campaign Cash from Payday Loan Industry Under Scrutiny in Missouri, Kansas Races
In Missouri, Republicans accuse Governor Nominee Chris Koster of taking money from payday lenders. In Kansas, Senator Yoder was found to have taken over $248,000 from payday lenders.
More Coverage:
St. Louis Post-Dispatch: GOP Tries to Make Payday Lender Contributions Issue in Missouri Governor Race
The Missouri Times: Republicans, Koster Spar Over Payday Lending Donations Candidates for Missouri Governor Scrutinized About Campaign Donations

November 1, KUT 90.5: Faith Communities Are Paying Off People’s Payday Lending Debt
Several faith communities in Texas are lending a hand to victims of the payday lending industry through donations and predatory lending conversion programs.

November 1, Washington City Paper: White D.C Area Households Have A Net Worth 81 Times Greater Than Black Ones
A recent study conducted by research from various institutions measured racial and socioeconomic inequality in D.C., including the use of payday lending as a variable in their research.

October 31, Black Enterprise: Helping Minority and Women Small Business Owners Combat Predatory Lending
Community Development Financial Institutions, including Accion and Carolina Small Business Development Fund, have recently been awarded with the 2016 Small Business Leader Award for Mission-Driven Leaders for their impact on community development and providing underserved communities with access to capital.

October 30, News-Leader: Rep. Kevin Austin Faces First Serious Challenge From Democrat Jeff Munzinger
Missouri Candidate for District 136 House Representative Jeff Munzinger supports a cap on payday loan interest rates, and has criticized his opponent, Rep. Kevin Austin, for taking money from payday lenders, which Austin has denied.

October 30, Lansing State Journal: Finances Explained: Payday Loans
This article explains in detail what payday loans are and what alternatives are available. The author also encourages readers to think carefully about the consequences before taking out payday loans.

October 29, USA Today: Feds Tackling Payday Loan Regulations
The CFPB has been making efforts to crack down on the payday lending industry, which this article describes in detail.

October 29, Argus Leader: Voters to be Final Jurors in Payday Lending Fight
This article describes both sides of the payday lending debate, quoting several pro-Initiated Measure 21 organizations.
More Coverage:
Plain Talk: Payday Lending Focus of Two Nov. 8 Ballot Questions
News & Observer: Ballot Bingo: Untangling South Dakota’s Crowded Ballot
The Collegian: 2016 Voter’s Guide
KDLT: Capping Payday Loans Interest Rate?
KDLT: Battle Over Payday Loan Interest Rate
Washington Examiner: Payday Lending on the Ballot in South Dakota
Black Hills Pioneer: Payday Lending Focus of Two Nov. 8 Ballot Questions
News & Observer: Supporters of Payday Rate Cap Campaign Fear Voter Confusion
Brookings Register: Payday Rate Cap Allies Fear Voter Confusion
The Miami Herald: Supporters of Payday Rate Cap Campaign Fear Voter Confusion
The Daily Republic: A Guide to the Ballot Initiates
Argus Leader: Topics on Tap to Take a Look at Payday Lending Thursday
Watertown Public Opinion: An Abundance of Ballot Items, but Not a Record
Argus Leader: Letter: Understand Payday Lending Impact Before Voting

October 29, State Journal-Register: Our View: Tammy Duckworth has Savvy, Tenacity to be Effective U.S. Senator
This article discusses Rep. Tammy Duckworth’s military background, and mentions that as Senator, she would make sure to support veterans, including by protecting them from predatory lending practices.