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Does anyone know of any payday loan legislation in any of the fifty states pending? I just wanted to know if anyone had any laws that were pending to finally be rid of these guys once and for all.

Posted: Sun Dec 31, 2006 4:41 pm Subject:

In OH beginning 1/1/07 it will be much more difficult for a person to obtain a pdl. It is linked with the Predatory Lending Law.

Posted: Sun Dec 31, 2006 4:43 pm Subject:

Steelers--

Is this for storefronts or internet or both?

Posted: Sun Dec 31, 2006 4:44 pm Subject:

That's good news, Steelers.

Posted: Sun Dec 31, 2006 4:44 pm Subject:

Both. It also gives the AGs office authority to pursue them, right now it is up to the Division of Financial Institutions to do that.

Posted: Sun Dec 31, 2006 4:48 pm Subject:

I'm glad to hear this news. 1/1/07 is tomorrow Very Happy

Posted: Sun Dec 31, 2006 4:50 pm Subject:

I know. Should I test it? Then back out? LOL just kidding.

Posted: Sun Dec 31, 2006 4:57 pm Subject:

I'm glad to hear they'll have the authority to go after these guys, Steelers. I think we'll see a lot of these PDLs backing away.

Posted: Sun Dec 31, 2006 4:58 pm Subject:

Yes, I believe it will set even more limits on the interest they can charge which should put them out of business.

Posted: Sun Dec 31, 2006 5:22 pm Subject:

I think we should celebrate each time one goes out of business!

Posted: Sun Dec 31, 2006 5:28 pm Subject:

I think they should ALL be put out of business - the internet and the storefronts, both. None of them amount to much more than loan sharks, in my opinion.

Posted: Sun Dec 31, 2006 7:35 pm Subject:

That's our hope, Sue. Then we can really celebrate!

Posted: Sun Dec 31, 2006 11:28 pm Subject:

Sadly, Utah is one of the most lenient states in the country.

Here's a link I everyone might be interested in:

deseretnews.com/dn/view/0,1249,635159502,00.htm

Link made inactive as per forum rules - Mike

Posted: Sun Dec 31, 2006 11:31 pm Subject: loans

It is already illegal in WV. 18 have been dealt with so far and can no longer give loans. 14 to go in February and hopefully more to come. YAH!!! Kyside38

Posted: Sun Dec 31, 2006 11:31 pm Subject:

I feel sorry for people living in Utah that get sucked into their trap.

Posted: Sun Dec 31, 2006 11:37 pm Subject:

Yes, and a lot do just because most people are underpaid and housing costs are going up. You know, Robert Kiyosake (Rich Dad, Poor Dad) recently predicted that there was going to be a greater division between the rich and the poor. I especially believe we'll see this in Utah.

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