Fend Off Attack on Citizens' Initiative Rights

Source
The Coeur d'Alene Press
Daniel Radford and Jim Jones might be miles and years apart, but they’re as close to right on as they can get. Today you’ll read, on the facing page, a piece penned by young Radford, a sophomore at prestigious Emory University in Georgia. Radford hails from Sandpoint. On the March 8 op-ed page, The Press published an opinion piece written by Jones, former chief justice of the Idaho Supreme Court. Both men have taken aim at — and hit squarely in the bull’s-eye — a dangerous Idaho bill that would undermine the power of the people.
Payday and Other Small Dollar Loans

Planned consumer protection rule against payday lenders barred by feds

Source
Riley Bunch | Idaho Press
A federal rule that would have provided an extra level of consumer protection against payday lending practices has been proposed to be rescinded on the basis that it would reduce access to short-term loans for consumers. Idaho cities in the past have attempted to protect citizens from payday loans that often trap consumers with drastically high interest rates. Idahoans paid almost $31 million in overdraft bank fees for payday loans and more than $65 million in fees for title loans in 2017, said Ellen Harnick, head of the Center for Responsible Lending's western office in Oakland.
Payday and Other Small Dollar Loans

Payday and Car Title Lenders Drain Nearly $8 Billion in Fees Every Year

Payday and Car Title Lenders Drain Nearly $8 Billion in Fees Every Year

Payday and car-title loans typically carry annual percentage rates (APR) of at least 300%. These high-cost loans are marketed as quick solutions to a financial emergency. Research demonstrates, however, that they frequently lead to debt that is nearly impossible to escape. In addition, these loans are related to a cascade of other financial consequences, such as increased overdraft fees, delinquency on other bills, involuntary loss of bank accounts, and even bankruptcy. For car-title loans, the end result is too often the repossession of the borrower’s car, a critical asset for many people...
Research
Payday and Other Small Dollar Loans