Saturday, August 12, 2006

Letter to Editor Questions Motives for Payday Loan Ordinance, Recent Vote

By J.J. Cameron
Payday Loan Writer

Vellis Salway is a resident of Keizer, Oregon. She recently penned a letter to The Keizer Times, questioning the political motivations behind last week's payday loan ordinance vote.

It's paraphrased below …

It's time to set the record straight on Keizer City councilor Chuck Lee's alleged ordinance on faxless payday loans. Two weeks ago, The Keizer Times reported the council would hold a public hearing Aug. 7 on a payday loan ordinance proposed by Lee. There was no hearing, and when Lee asked to have an ordinance written, he was voted down 5-2.

Clearly this was nothing more than a political ploy on Lee's part to gain some brownie points for his legislative campaign. Lee is in the minority on this issue. A majority of his fellow council members were wise to wait until the new state law adopted by the Legislature regarding payday advances is implemented.

I'm wondering if we even need to lower the hammer on these instant payday loan companies. It seems like a lot of people need these loans, so why should government regulate these companies out of business?

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