Message from Benton to Sen. Lucio reference pay day loans

The Honorable Eddie Lucio Jr.
State Senator
(From Kenneth J. Benton)
(Concerned about our children;’s future)
RE: Your leadership on the issue of Pay Day, car title loan abuses.
I was gratified when handed a copy of COMMENTARY, Protect Consumers From Vicious Cycle of Debt, wherin you and State Reps. Mike Villarreal and Terry Canales stood tall in addressing the scourge of oppressive predatory lending,
The effort by elected officials to join with leaders like Bishop Daniel Flores, Catholic Charities and the United Way of Cameron County, to speak up and act on behalf of the poor, powerless and all to often, apathetic and voiceless, voiceless because they just don’t and won’t vote, is that much more appreciated by those of us in the trenches, because it would have been easier for you to simply look the other way or worse, take lobbyist money and leave the status quo to harm untold numbers of people who often have no other option.
That, sir, is leadership and true public service.
As you consider legislation and how to keep unfettered greed from destroying more of our socio-economic system and knowing that each of you is a respecter of and believer in free market capitalism as long as they don’t dirty the air and water we all need to survive, please add to your concerns the RENT TO OWN lenders who are playing the same game — charging as much as 800 percent interest, with yet another “easy credit” ripoff which is eroding people’s abilities to save and invest for their children, health care needs or retirement.
We clearly have a long way to go to achieve a society where government action is not needed to tell people how to live their lives and to reach the promised land of self governing and free people.
But if that is the goal, the ideal, then we must provide a framework wherein those things can be achieved.
By stepping up and speaking up, you help return sanity and yes, morality, to consumer lending and that is what the people expect, need from their elected representatives.
Thank you for your leadership.

5 comments for “Message from Benton to Sen. Lucio reference pay day loans

  1. Kenneth J. Benton
    June 15, 2014 at 8:37 pm

    decisions by business leaders are what change and make the world better…too bad the church deacon did not understand that. (you cannot love God and hate your neighbor)

    http://finance.yahoo.com/news/young-man-alabama-tim-cook-133514902.htmlmoral

    1 John 4:20

  2. Booker Lee Davis
    June 15, 2014 at 11:04 pm

    What leadership, in his article he admitted that the legislature had issues with addressing the payday lenders. Furthermore, since when is it the responsibilities of a city to control private enterprise, whats next the pawn shops. The guy is a moron. Try controlling Drs and see what would happen, and their fees aren’t cheap either.
    Jerry Deal comments: I agree with you about too much government control, but there are times it is necessary. These payday loan companies are ripping off the people who need it less, with interest rates in excess of 300 percent. Hey, the banks are controlled, why not these vultures? The legislature has not moved on this issue because these companies have deep pockets and their agents in Austin pay them well.

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