Thursday, March 11, 2010

Payday lending could get vote in Maryland Senate by this wekeend!

Senate Bill 678 could get a vote by Sunday in the Senate Finance Committee. We urge you to let your senator know you support this bill and encourage him or her to give it a favorable vote.

Here's an interesting article in the New York Times about what's happening with payday lending on the national level and illustrates why regulation in Maryland is so badly needed:
Senator Bob Corker, the Tennessee Republican who is playing a crucial role in bipartisan negotiations over financial regulation, pressed to remove a provision from draft legislation that would have empowered federal authorities to crack down on payday lenders, people involved in the talks said. The industry is politically influential in his home state and a significant contributor to his campaigns, records show. -- full story


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