Monday, January 30, 2006

Vilsack: Rein car title loans

Vilsack: Rein car title loans

The Gov gets on board to fight the loan sharks:

Vilsack called loans provided at interest rates of 264 percent backed by a vehicle as collateral are the "worst form of predatory lending" that take advantage of low-income people struggling to make ends meet. The governor said he supports legislative efforts to limit the interest that can be charged on car title loans to 21 percent.

Sen. Joe Bolkcom, D-Iowa City, said he hoped the support of top executive-branch officials would convince leaders of the Republican-controlled House to consider legislation this session that previously won Senate support but stalled en route to the governor's desk.

In other news, Vilsack's cheering for the Steelers. Not a surprise. (Nothing personal, Gov, but I'm rooting for the Seahawks.)

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