PayDay Lending Explanations

David Miller -- February 26th, 2008

In this post I would like to pose questions to spur not debate but explanations. I am referencing the headline at “Senator Threatens Payday Kill”.

WHSV has appropriately reported that Senate Majority Leader Richard Saslaw has stated that “he would refuse to appoint conferees to work out issues between the Senate and House proposals if a compromise couldn’t be reached behind the scenes.”

In the light of in depth reporting supporting in depth public understanding and in support of the positive citizen empowerment that in depth public understanding creates I pose the following questions that need to be explained by our fellow citizens with active knowledge on these subjects for the betterment of our own knowledge base.

1.) What does the bill in jeopardy state and mean? More importantly is what change this bill proposes on existing practices within the Payday Lending industry.

2.) Why is this bill being supported and attacked? Who is saying what and what changes thereby are they supporting?

These questions should be attacked in order. I will (if anyone even wants to participate) attempt to moderate this approach only in that I will insist that consensus be reached for each question in order.

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