Wednesday, February 16, 2011

Payday lending bill passes both houses, goes to Barbour

The much-discussed payday lending legislation has passed both houses of the Legislature, albeit in watered-down form. The bill now awaits Governor Barbour's signature.


Robert E said...

The bill is execrable. And it's certainly not what can be reasonably called "watered down".

The conference bill that passed the House and Senate and is now headed to your governor is MUCH worse than the House original version.

It's WORSE than the law that existed prior to the recent changes if for no other reason than its sunset date is now 2015. The old sunset provision was 2012.

Really hypocritical that may repugs who NEVER evince a scintilla of concern for "poor people" suddenly got the spirit about "helping" poor people who have no other alternative but to go to the loansharks, I mean payday lenders. The scheisse was really deep on the House floor.

As Tennessee Ernie sang: "I loaded 16tons and what did I get? Another day older and deeper in debt. St. Peter don't you call me 'cause I can't go. I owe my soul to the company store."

Speaker34 said...

Politico's recent report that Gov. Barbour has met with Advance America's VP in SC has even caught the attention of some Mississippians.
Haley will probably be expecting substantial support from this company - since they make so much money here - and have such an
active interest in "good government" in our state. I can't find a single legislator to whom they have not given a contribution.

Speaking of Advance America - and many, many other payday lenders -- the recently posted legislators' contribution reports on the SOS website show Sen., Banking committee chair and Rev. Gary Jackson has been an unblushing recipient of their largesse. Anyone following the antics of this sactimonious solon need not look for a better example of a hypocrite. Rev. Gary's Bible seems not to include any references to usury, the Golden Rule, the Sermon on the Mount or his duty to the poor. If its "legal" in Mississippi, its OK with Gary. Pimps and prostitutes should take note.