AG Shurtleff and other top GOPs are avidly supporting this Walker guy who has zilch experience for the job as Utah Treasurer even though he claims otherwise contrary to all available evidence (See lack of experience below).
Also the Walker guy the current AG is pushing:
According to his opponent Richard Ellis, Mark Walker offered him a $160,000 job in March if he'd drop out of the race.
Also the Walker guy the current AG is pushing:
According to his opponent Richard Ellis, Mark Walker offered him a $160,000 job in March if he'd drop out of the race.
Walker denies it, calling it a desperate political move.
"Our hope is to have some kind of determination by the end of this week," said Herbert spokesman Joe Demma.
In contrast to Walker's non- experience:
Richard Ellis, lists 22 years in public finance - eight of those serving as the state's chief deputy treasurer.
But top lawmakers, such as Shurtleff are backing Walker, saying the treasurer's office needs a leader with new perspective, but no experience for an important job.
http://www.sltrib.com/utahpolitics/ci_9473417
On Mark Walker's campaign Web site, he touts his private-sector experience during his three-year stint as Zions Bank manager of government finance.
However, the Zions Human Resources office defined his position as a sales resource officer, a job he left (?) at the end of March to run for state treasurer.
Also in contrast to Shurtleff's avid support of payday lenders and how they stop bankruptcy in Utah and elsewhere, read what protection the DOD (the US military) wants via
http://www.defenselink.mil/pubs/pdfs/report_to_congress_final.pdf .
f. The Department of Defense seeks the following protections against predatory lending to Service members, as described in the report:
(c). It is understood that such special military disclosures may discourage lenders and limit the availability of credit to certain Service members, but the Department believes this risk is justified given the impact of predatory loans.
(2). Require a federal ceiling on the cost of credit to military borrowers, capping the APR to prevent any lenders from imposing usurious rates.
6
(a). Lenders should be prohibited from directly or indirectly imposing, charging, or collecting rates in excess of 36 percent APR with regard to extensions of credit made to Service members and their families. This APR must include all cost elements associated with the extension of credit, including the “optional” add-ons commonly used to evade ceilings, such as credit insurance premiums.
(b). It is understood that such an interest rate cap may limit the availability of credit to certain Service members. Limiting high-cost options assists the Department in making the point clear to Service members and their families that high cost loans are not fiscally prudent. A clear, unambiguous rate ceiling is justified given the high fees, interest and other charges associated with loans to Service members reviewed in this report, and the impact of those predatory loans on military readiness and troop morale.
Uncle Don
10 comments:
It is absolutely ridiculous to be of the opinion that the government should have the power to control individual's personal financial matters. It goes against everything our founding fathers stood for.
I can understand it with military men, as they have signed their lives away to become government property. However, individuals need choices!
Attorney General Shurtleff is doing the right thing in protecting payday lenders. It is a matter of choice and free capitalism, in which this nation has always been deeply rooted.
What? Utah government wants to control an individual's alcohol consumption because they feel alcohol can be harmful to an individual, but let's not control an predatory industry because "that's the free capitalism."
Of course, a free trip to the Bahamas and almost $50,000.00 in campaign donations this year from pay day lenders dosen't have anything to do with Shurtleff's undying loyalty to the loan shark industry.
Customers deserve choices and do not want the government or anyone else taking their choices away. Payday advances play a necessary role, providing hard-working people with a reasonable, well-regulated option for meeting unexpected or unbudgeted expenses and other short-term financial needs. Prohibiting payday lending only forces consumers to use the other, more costly short-term credit products available, such as overdraft protection, late fees on credit cards and other bill payments and off-shore Internet lending.
That is so much crap paydaylendingrep. You are blood suckers and bottom feeders on those driven to be taken in by your unscrupulous and usurious practices. 300% a year interest for hard working Latino friends of mine who could and did not understand the fine print or that any of you would be such vultures.
May you and your kind rot in hell!
Payday lending can be a cheaper alternative than bouncing checks or paying a late payment on my credit card bill.
As for the Military cut-off. I feel bad for these folks who used to rely on payday loans as a convenient option for short term credit. I don’t know what they are going to do now that credit option is no longer available. Hopefully they have family they can turn to, but in most cases, family members are living paycheck to paycheck just like the rest of the nation.
Several of you here must reap the profits or be associated with those who are with payday lenders. The obfuscations here are absolutely radiant!
I believe we have the right to borrow money from any company even if it is from a payday company. Most of us don't have family or friends that are capable of loaning us money. One of the reasons these companies are in business is because they are cheaper than bouncing checks at a bank. I support A.G. Shurtleff.
That is a patent fabrication. No bank charges the rates that payday loan sharks do. Just so much crap anon.
Average charge for bouncing a check = $33.00 (bank fee) + $20.00 (return check fee from the company you wrote the check to). That's $53.00. Average charge to borrow $100 at a payday lender is $10.00. I think this is a better alternative.
Banks don't charge 300+ percent on outstanding loans balances because the borrower cannot pay them back.
It all looks fine but the devil, and the pay day lenders are devils, is in the details -- the loan repayment rates.
You prey on the poor and the undocumented Latino population. They cannot resist and do not have the resource to fight and they cannot read literally the fine print.
If the Utah R legislators send the undocumented to some other state all the PD lenders will fold up.
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