Wednesday, July 3, 2013

Payday Lending Language in Fiscal Code

Payday loan shop windowAs the Senate debates the final bills needed to pass for the state budget to be complete, several news agencies are reporting today of a small clause that was inserted into the House version - unbeknownst to the Senate.
Tucked at the bottom of page 55 of a 57-page bill, called the fiscal code, that is related to the budget bill that Gov. Tom Corbett signed into law on Sunday is a clause expressing legislative interest in passing a payday lending bill.

Specifically, it says, “it is the intent of the Senate majority leadership and House majority leadership to pass legislation … by October 31, 2013.”

Really? Senate Republicans said.

“We were not aware that this provision was being added,” said their spokesman Erik Arneson.
Even if the code passes the Senate, as it is expected to do, the language remains nonbinding. However, if you have feelings about payday lending or the language inserted into the fiscal code, you can express your opinions to the Senate leaders.  You can also visit http://www.stoppaydayloanspa.com/ or https://www.facebook.com/StopPayDayLoansPA for more updates.

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