Senate committee kills bill intended to provide protections for payday loan borrowers

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  • Joe Schmoe Orem, UT
    Feb. 2, 2012 8:25 a.m.

    DN you missed the whole point of the bill although the title of this article doesn't help.

    Right now the Provo courts are totally overwhelmed with these cases. They should be tried in their own area, not in Provo.

    And yes the payday loan people have many friends in the legislature.

    It is sad really. I drive down State street in Orem and pass at least 10 of these places in about a 2 mile span. Usury at its finest. What a waste of your life.

  • George Bronx, NY
    Feb. 1, 2012 4:07 p.m.

    @DN subscriber and pegan

    It must also mean we should do away with state restrictions on gay marriage and other social conservative nanny issues. Oh wait I forgot according to people like DN subscriber restrictions on the nanny state should only ably to corporate america not individuals after all businesses are not just "people" they are superior people deserving of special considerations us mortals can only dream off.

  • Pagan Salt Lake City, UT
    Feb. 1, 2012 3:54 p.m.

    'Nanny state intervention is neither appropriate nor necessary.' - DN Subscriber | 12:20 p.m. Feb. 1, 2012

    So then, we can do away with State Run liquor stores?

    How about...

    **'Bush signs $700 billion bailout bill' - AP - Published by Denver Post - By Tom Raum - 10/03/08

  • one old man Ogden, UT
    Feb. 1, 2012 3:20 p.m.

    Is there any way to find out how many legislators -- and specifically those on this committee -- have financial interests of some kind in these businesses?

  • spring street SALT LAKE CITY, UT
    Feb. 1, 2012 2:30 p.m.

    Hilton said she was "stunned" by the committee's vote.

    Hilton clearly has not done her homework or she would not have been shocked at all. Follow the payday loan money it leads back to our senators. they are protecting their own interest not the peoples.

    "The person who had been our biggest supporter for this issue voted no," Hilton said, referring to Valentine.

    Again Hilton obviously did not do their homework or they would have known that Valentine cannot be trusted. I have personally been bullied by Valentine when I tried to use my right to contact our state representatives. He clearly believes the voters should not have a voice.

  • DN Subscriber Cottonwood Heights, UT
    Feb. 1, 2012 12:20 p.m.

    Good move.

    Payday loads are indeed predatory, but they are freely made commercial transactions between a lender putting their money at considerable risk (with potential for considerable profit, if paid back) and a borrower who probably has very little chance of getting a loan from a "real bank."

    Conditions are spelled out clearly and borrowers are free to accept or reject the terms, incluidng the venue for litigation.

    Nanny state intervention is neither appropriate nor necessary.

    What would help would be to instill in people the ideas of thrift, avoiding indebtedness, and a work ethic so that you have a job, earn money and pay for what you need, and do without what you cannot afford.

    But, even that is a societal obligation, not a government job, and indeed the federal government is a perfect example of making poor financial decisions.