Fair Lending Legislation Hearing Tuesday March 23

From organizer Melissa Gordon:



Hello All, As many of you know, I recently started working ajavascript:void(0)t the Neighborhoods Resource Center as a Neighborhood Organizer. I am advocating for fair lending policies in Tennessee with the Coalition for Responsible Lending in Tennessee. I am sure we all know someone or have experienced the debt trap of predatory lending. Imagine being a single mother that borrows 80.00 against her car title to pay her childcare. Imagine paying 35% of your tax refund to have it deposited in your account three weeks early because your heating bill increased during the cold 2010 Tennessee winter. Stories like these are common realities because too many people turn to predatory loans (refund anticipation, car title, payday) during financial crisis. Show your support by being present march 23rd so we can create fair lending policies in Tennessee!


If you have questions or comments, contact me at (615)72-8212.

Thanks,

Melissa Gordon
Neighborhood Organizer
Neighborhoods Resource Center


Dear Friends of the Coalition for Responsible Lending in Tennessee,

I am writing because we need your help. We need people to attend an upcoming hearing about payday and title lending that is taking place in the Tennessee Legislature on Tuesday, March 23rd at 10:30 am. We anticipate that it will be in Room HHR30, but it is possible that it will be in a nearby room (we will be on hand to direct people).

The Utilities and Banking Subcommittee of the House Commerce Committee will consider several pieces of legislation related to small dollar predatory lending. One of those bills will cap the interest rate for payday lending at 100% APR.

We want to send the message that 100% is ENOUGH!!

Obviously, many of us think that 100% is far more than enough and would like to see a more reasonable cap set. The Coalition for Responsible Lending in TN will continue to work toward that aim, but as we build the necessary constituency to make such a change, we would like the industry to tell us why they think 100% isn't enough. That should be interesting, don't you think?

I am in the process of finalizing talking points related to the legislation under consideration. I will send those out soon.

Please, forward this email to anyone you think would be interested in the issue.

We need to pack the room on Tuesday. Can you be there? Please, let me know.

If you can arrive early, that is strongly advised.

Thanks Read more: http://www.blogdoctor.me/2007/02/expandable-post-summaries.html#ixzz0fvTXmFSF