Faith leaders, civil liberties teams, state and community advocates’ objections fall on deaf ears as Florida home joins Senate in moving a fresh 200% interest predatory loan bill
The House voted to pass SB920/HB 857 today, a bill that a spokesperson from the Office of Financial Regulations admitted to a reporter was proposed and “run” by the payday lending industry as a new report shows payday lenders have invested at least $8 million in Florida since 2007 between campaign contributions and lobbying expenses.
The balance, which passed the Florida Senate for A saturday that is rare session by President Negron to debate measures to deal with gun physical violence, now heads to Governor Scott, whom could destroy the measure by having a veto. The bill would twice as much quantity lenders may loan every single debtor and increase the fee towards the customer when it comes to loans, with interest levels over 200% yearly.
Groups opposing the bill are the NAACP Florida State Conference, Florida AARP, Florida Veterans for wise practice, League of Southeastern Credit Unions, UnidosUS, Florida Conference of Catholic Bishops, Hispanic Unity, Florida Prosperity Partnership, Jacksonville Area Legal Aid, Cooperative Baptist Fellowship of Florida, 11th District Episcopal AME Church, Latino Leadership, Beaches Habitat for Humanity, Legal help of Palm Beach County, Legal help of Collier County, Catalyst Miami, Solita’s home, Raise Florida system, Legal help of Broward County, Manatee Community Federal Credit Union, Jacksonville Area Legal help, Tallahassee-Leon Federal Credit Union, Florida Legal Services among others. Continue reading →
Share and Enjoy