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Posted: Mon Jul 09, 2007 3:03 pm

Hey, you guys. I don't usually start any threads around here, but this just made my day. I saw this article in The Oregonian newspaper and I just have to share it with everyone. The Oregon legislature recently passed a law stating that payday lenders, and title loans, have to cap their rates at 36% or so. It became effective June 1st, so now the rats are running scared. Read the article....the Powell Blvd they mention in the article is a pretty run down, low income part of town.
http://www.oregonlive.com/news/oregonian/index.ssf?/base/news/11839443 2077940.xml&coll=7&thispage=1

Guest · Posted: Mon Jul 09, 2007 3:16 pm

Thats awesome I wish all states would join in!!

Posted: Mon Jul 09, 2007 5:30 pm

That is great! Glad to hear that some more places are going down!

Posted: Mon Jul 09, 2007 5:52 pm

That's great for OR. I also agree that all other states would do this as well. It would take away the temptation.

Posted: Mon Jul 09, 2007 5:53 pm

This is wonderful news! Thanks so much for posting this.

Posted: Mon Jul 09, 2007 8:46 pm

This is great news, and much appreciated, after the awful day we've had today!

Posted: Mon Jul 09, 2007 9:18 pm

That is sooo great!!!! It would be nice if others would join in.

Posted: Tue Jul 10, 2007 6:55 am

I just read the article - It's on the front page, top story of the Oregonian! Still haven't seen any close in my surburb yet . . . . But will be watching . . . . .

Posted: Tue Jul 10, 2007 7:04 am

That is awesome news for Oregan. Pa forced some to close, they still have advance america here though, wish they would close them also. I know Pa has filed suit on them.

Posted: Tue Jul 10, 2007 7:22 am

I wonder if Advance America will try it's "lines of credit" here!

Posted: Tue Jul 10, 2007 8:33 am

I just fired off a couple emails to a few of our state departments here in Kentucky about this. Hopefully we and the other states will follow in Oregons footsteps.