I am a member of the Center for Moral Clarity and I am sending you this e-mail to ask you to support HB 1310 concerning deferred deposit loan transactions.
Payday lenders are currently charging interest rates well in excess of 300 percent and tacking on outrageous additional fees. These high interest rates and fees exploit the economic desperation of some of our state’s most impoverished families. HB 1310 will force payday lenders to apply more reasonable interest rates for supposedly short-term loans.
Thank you for considering my opinion on this issue.