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Archive for January, 2018

Pay Day Lending house meetings make a difference

January 31st, 2018

Leaders from OTOC’s Predatory Lending Action Team have been leading house meetings about LB194, a Nebraska Unicameral Bill that would put some regulations on predatory pay day lending (see below for details about LB194). The house meetings are focused on Legislative District 8, where Senator Burk Harr was just appointed to the Banking committee for this legislative session after the previous Senator Craighead from District 6 resigned from her position. Burk Harr has just become the swing vote needed to get the helpful LB194 out of committee. The timely house meetings invited participants to email or call Sen. Harr encouraging him to vote yes for LB194. Dozens of OTOC leaders have called or written in, and Harr is reported to have changed a probable “no” vote into a “still considering” stance. 

Concerns about the ill effects of the payday loan industry on folks in Nebraska brought a dozen guests from 4 OTOC congregations to the home of Chuck and Gloria Austerberry in Legislative District 8. All were eager to understand how the system works and what we can do to limit how much profit can be made from people needing small amounts of money to meet emergency needs through passing LB 194 this session of the Unicameral.

Concerns about the ill effects of the payday loan industry on folks in Nebraska brought a dozen guests from 4 OTOC congregations to the home of Chuck and Gloria Austerberry in Legislative District 8 on January 27. All were eager to understand how the system works and what we can do to limit how much profit can be made from people needing small amounts of money to meet emergency needs through passing LB 194 this session of the Unicameral.

LB 194, sponsored by Senators Vargas (D) and Linehan (R), improves Pay Day Lending practices by requiring:

1.      Reasonable Payment: Maximum monthly payment is capped at 5% of borrower’s Gross Income—so the monthly payment is manageable and the debt is fully repayable over a longer period of time.

2.      Reasonable Charges: Total charges for the loan can only equal 36% annual interest AND the monthly maintenance fee is proportional to the size of the loan and cannot exceed $20 per month.

3.      Reasonable Total Expense to Borrower: Maximum total charges can be no more than 50% of the principal over the life of the loan (e.g. total charges for a $500 loan would be $250 over the life of the loan.)

If you would like to be a part of the efforts to get LB194 through committee, please call or email Sen. Burk Harr at   (402) 471-2722 or bharr@leg.ne.gov urging him to vote “yes” for the bill to get it out of committee.                                                                                                                           

If you contact Sen. Harr, please let us know by emailing otocfornebraska@gmail.com.

If you are interested in attending a house meeting, please email Vicki Pratt at vlpratt@cox.net 

 

 

Support for TPS Holder and Dreamers

January 9th, 2018

On Monday January 8th, Homeland Security announced that Temporary Protected Status (TPS) for Salvadorans will end on September 9th, 2019.  Over 200,000 Salvadorans and their families are now at risk, so it is now up to Congress to find a legislative solution. OTOC calls on Congressmen Bacon and Fortenberry, Senators FisJeanne in basementcher and Senator Sasse to get involved and craft a solution which provides permanent residency for law abiding, productive residents who have lived among us  for many years with only Temporary Protective Status.

OTOC leader Jeanne Schuler says, “OTOC calls on our members of Congress to  show leadership.  Find a solution.  Support the bills that have already been introduced or develop new ones.  We need leaders who will serve the people of Nebraska and act.  Now.” 

OTOC leader Kathleen Grant says, “TPS recipients have lived in Nebraska for almost 20 years. They own homes and businesses.  They work in factories, farms and meat packing plants.  Their children, most of whom are US citizens, will move our state’s economy forward. They are neighbors.  They are at risk.” To see Kathleen Grant in the news speaking about this issue, follow this link to Channel 7’s coverage of Monday’s decision in Omaha

 

 

Jeane Schuler calls on assembly goers to “Call every day!”

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