Rep. Geoff Davis (R-KY), is trying to gut the amendment to the military bill that would limit the interest rates military personnel can be charged on payday loans. In June, the Senate passed an amendment that was co-sponsored by Florida Senator Bill Nelson and Missouri Sen. Jim Talent (Predatory Lenders Troops ) that would limit the interest rate to 36%. It’s now in the House of Representatives.
Here’s the problem: Rep. Davis has proposed his own language that sets no real limits on predatory lenders. One of Davis’ top campaign donors is the owner of national payday lender Check ‘n Go.â€
The Independent News wrote about the local trial of a payday predator – John Gill, Jr. – in July (Loan Shark Predator ).
