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Testimony in Opposition To Facilitate Small Loans in Maine

Testimony in Opposition To Facilitate Small Loans in Maine

Seniors, veterans, and all sorts of Maine families and people who will be doing their utmost getting by in hard times require fair and accountable resources that will really help them more than a hump. This bill would legalize an item that may perform some opposite―line the pouches of predatory lenders with all the valuable bucks of these who possess therefore small to spare. We urge you to definitely reject this bill.

Good Senator Whittemore, Representative Lawrence, and members of the Joint Standing Committee on Insurance and Financial Services afternoon. I am Garrett Martin and I also have always been the director that is executive of Maine Center for Economic Policy. Our company utilizes its financial policy research and analysis to advance legitimate policy solutions that foster economic chance for Maine working families. I’m right here to testify in opposition to LD 1164, which will produce a loan that is long-term prices well more than 200% APR on loans as large as $2,000. Ler mais