Via twitter @bill_holmes Gboro N&R: GOP ignores military's pleas, hikes interest rates on loans offered by big donors. #ncga #ncpol http://bit.ly/jrxAJI
Opponents of the bill say the vote came after pressure from Republican leaders on behalf of an industry that helped bankroll the GOP takeover of the chamber.
How we know that GOP is in bed with lending companies, Rep. Harold Brubaker claims its was time to give them relief. Wow Brubaker, how much did they slip you in a brown envelope?
The bill expands the maximum amount of certain small loans but raises interest rates. For example, current law allows lenders to charge 15 percent interest rates for certain loans between $600 and $1,500. That interest rate would rise to 36 percent for those same loans.
That is double the amount of interest. this is outrageous, I guess they will let banks to double their rates next.
Should have known Tillis-jerk has his hands into it.
But in the day before the vote, Brubaker, who serves on the committee, and House Speaker Thom Tillis met with Republican members of the committee, urging them to support the bill. At the same time, deployment operations at Fort Bragg prevented commanders from appearing in person to oppose the bill.
Don’t forget to follow the $$$$$, Hall did..
Hall detailed $140,370 in campaign donations from lenders that make small installment loans and their PACS that went to Republican candidates or campaign funds during the 2010 election cycle. At the same time, the lenders shifted support away from Democratic leaders.
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