Mary Still
Taking a Closer Look at Payday Loan Abuses
Rep. Mary Still (D-Columbia) is hosting a "district hearing" at the Columbia Public Library tonight for public and expert input on the abuses of payday loan companies. Still sponsored legislation this year to restrict interest rates on payday loans, but Speaker Ron Richard refused to assign the bill to a committee until the last day of the session, effectively killing the bill before it could even be considered.
Also speaking tonight will be Rep. John Burnett (D-Kansas City), UMKC economics and law professor Bill Black and representatives from the AARP and Better Business Bureau.
In preparation for the event, organizers distributed the following facts about payday loans in the Show-Me State:
- The latest Missouri Division of Finance report documents that payday lenders in Missouri charge an average interest rate of 430.68%.
- Missouri's law allows interest rates of up to 1,980%.
Things I learned in 1995
Conference calls are annoying.
What I didn't learn from this article, however, is what was actually said on today's call with progressive activists who care about real healthcare reform.
UPDATE: Jo Mannies at The Beacon has the story:
Why now? [State Sen. Jeff] Smith said the aim was to show that, in the wake of heavy opposition from Republicans and private insurers, there would be local politicians who will go to bat for a public option. The message to the White House, he said: "We have their back."
The legislators sidestepped the question of whether the timing was tied to concerns by public-option supporters that Obama and his administration are backing off.
But state Rep. Mary Still, D-Columbia, said some legislators -- including herself -- were actively lobbying the federal government because "there is not the political will in this state to fix the health-care system."
Read More »



