Thursday, February 18, 2010

Usury rules!

As I posted on Tuesday, the South Dakota Senate had a chance to curb some of the absurd interest rates charged by "payday" lenders.

The Senate Commerce Committee "deferred SB 173 to the 41st Legislative Day", which is a nice Midwestern way to say it was killed in committee.

State Senator Sandy Jerstad was kind enough to return my phone call inquiring about the bill, and said,

"It wasn't a surprise... I think we just have to keep after this... we're not going to let this go."

God's not going to let it go, either:

"One who augments wealth by exorbitant interest gathers it for another who is kind to the poor." Proverbs 28:8 (IOW the day will come when God will impose a permanent "transfer.")

1 comment:

Anonymous said...

Thanks! Nice work. Glad to learn others care about one of SD's social crimes of the century.