By Tristan 

Thanks for fighting payday loan folks

 


Thanks for fighting payday loan folks

Editor:

I want to say thanks to all the Montanans who signed I-164 and helped to place it on the ballot.

As a signature gatherer and the Great Falls Community Coordinator with Montana Women Vote, I heard many horrific stories from folks in our community who have used these loans.

The measure caps the rate on such loans at 36 percent.

Currently, the average interest on payday loans is 400 percent. As those of us who signed the petition agree, that's too high.

But, while the measure has great in-state support, the out-of-state-based lending industry is likely to fight it tooth and nail.

That's what they did in Arizona, where they spent $15 million fighting a similar measure, and in Ohio where they spent $20 million.

Expect the same here, with plenty of nasty ads fighting I-164.

But we are a smart bunch in Montana, and we know what is right for our state. We look after our seniors and hard-working neighbors.

Send the loan sharks a message: vote for I-164.

Megan Elfrey Myskewitz

Great Falls

Editor:

I want to say thanks to all the Montanans who signed I-164 and helped to place it on the ballot.

As a signature gatherer and the Great Falls Community Coordinator with Montana Women Vote, I heard many horrific stories from folks in our community who have used these loans.

The measure caps the rate on such loans at 36 percent.

Currently, the average interest on payday loans is 400 percent. As those of us who signed the petition agree, that's too high.

But, while the measure has great in-state support, the out-of-state-based lending industry is likely to fight it tooth and nail.

That's what they did in Arizona, where they spent $15 million fighting a similar measure, and in Ohio where they spent $20 million.

Expect the same here, with plenty of nasty ads fighting I-164.

But we are a smart bunch in Montana, and we know what is right for our state. We look after our seniors and hard-working neighbors.

Send the loan sharks a message: vote for I-164.

Megan Elfrey Myskewitz

Great Falls


 

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