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Posted: Mon Sep 10, 2007 10:12 am Subject: Is this Legislation still Alive?

I found this press release from July of this year regarding new pending Federal Legislation against payday loans that are secured by holding checks or ACH withdrawals. It was originally enacted to protect our military. I have read nothing recent about it. It was instrumental in intoducing me to my state PIRG who I emailed for help in attacking the problem statewide. There was a link to send in a letter supporting this bill but I was not able to open it. I will go back and paste it in my browser. I hope you all do the same. Here is the link to the release.
http://www.uspirg.org/html/consumer/archives/PDLFedlegUdallpressreleas e062707.pdf
I am sure that this posted before but I, along with many others I am sure, did not see it! Every state has a PIRG that can help them with powerful interest groups like the PDL industry.

Posted: Mon Sep 10, 2007 10:15 am Subject:

It means Public Interest Research Group just in case you were going to ask!

Posted: Mon Sep 10, 2007 10:16 am Subject:

I know there were laws enacted to protect military members, but I haven't seen anything federal that would protect all consumers . . . . That would be awesome if it were to happen!

Posted: Mon Sep 10, 2007 10:47 am Subject:

According to the release the way I read it this is an addendum to that law.

Posted: Tue Sep 11, 2007 10:39 am Subject:

I guess only you and I are interested in this topic Goudah! They must see the post and say "ugh! Its that Frog again! Stay away you'll get warts!"

Posted: Tue Sep 11, 2007 10:53 am Subject:

I doubt they are thinking that! Maybe it's the word legislation that scares them away . . . . .

Posted: Tue Sep 11, 2007 10:54 am Subject:

That would be great if it were passed..I have no idea how to go about looking up bills that have passed, the whole process mystifies me.

Posted: Tue Sep 11, 2007 9:56 pm Subject:

No, I have not seen anything on this. but, I did notice on the storefronts loans I have, the last ones asked me if I was military again after it was asked on the application. I think they are going to be shying away for those customers since they are protected?