Thursday, September 14, 2006

Will Walden do the right thing? Stay tuned.

A proposed law to end the predatory practice of payday loans against members of the military is in the hands of (ugh) Greg Walden.

Walden is one of a few select members of Congress appointed to the Defense Authorization conference committee. This group will decide the fate of the annual Defense Reauthorization Bill (DRB) that's already been approved by the Senate.

The DRB was amended at the Senate level in response to a Department of Defense report slamming the practice of payday loan operations who prey on vulnerable members of the military. The amendment establishes a 36 percent cap on the interest rates that lenders can charge members of the US military.

As Oregonians, we'll have the opportunity to witness whether Greg Walden represents us honorably and votes this thing forward--or if he's in the pocket of payday lenders. Walden gets a shitload of cash from special interests. It'll interesting to find out if his campaign coffers mean more to him than the voters.