The folks at Progress NC have identified a simple way to end the General Assembly’s absurd attempt to re-legalize predatory, triple-digit interest payday loans in North Carolina: The State’s Governor can simply reiterate the opposition to the industry that he voiced in his 2007 campaign for re-election as Mayor of Charlotte.
This is from a Progress NC release sent out this morning:
RALEIGH – Progress NC today called on Gov. Pat McCrory to speak out against payday lending, a position he’s already taken. A new bill filed in the NC Senate would bring predatory payday lenders back to North Carolina for the first time since 2006. Senate Bill 89 would allow payday lenders to charge interest up to 391% annually.
In a 2007 mayoral debate, Pat McCrory spoke out against payday lending: Read more