The House Commerce Committee heard the Payday Lending Reform Bill (HF 2293, Atkins; SF 2368, Hayden) today, with State Rep. Joe Atkins presenting it.
Testimony in favor of the bill included Brian Rusche of the Joint Religious Legislative Coalition, Darryl Dahlheimer and Cherrish Holland of Lutheran Social Services Financial Counseling, and Reneé Bergeron, citizen of Duluth, who told of her experience with payday loans. At one point, she said she was paying $600 in interest per month for her short-term loans. “I ended up in a shelter because I couldn’t pay my rent,” she said.
The campaign was grateful to see the many folks who attended the hearing in support of the bill. Our presence made a difference – seeing the sea of orange buttons is enough to make the heart swell!
The bill passed out of the House Commerce Committee with a 12-7 vote and is headed to the house floor. Its companion in the senate (SF2368, Hayden) awaits a hearing in the Senate Commerce Committee.