Capt. Alicia M. Blessington, USPHS (Ret.)

Broomall

Voice of the Poor Representative, Society of St. Vincent de Paul, Archdiocese of Philadelphia

President, Military Officers Association of America Philadelphia Chapter

Town Talk:

Federal legislation caps the annual interest rates that payday lenders can charge active duty members of the military and their families at 36 percent. This protection does not extend to veterans, National Guard and reservists.

Pennsylvania has even stronger consumer protections in place to protect all residents from predatory payday lending. State law caps annual interest rates at about 24 percent, which saves Pennsylvania borrowers $234 million in excessive fees each year. But some state lawmakers are considering introducing legislation which would eliminate our state protections by legalizing two-week payday loans at interest rates over 300 percent.

The out-of-state payday lenders continue to make the rounds in legislative districts to convince lawmakers that legalizing pay day loans is the right thing to do.

Legislators need to hear from you that it is not the right thing to do. They need to know that predatory payday lending is no better for Pennsylvania’s poor struggling families, and veterans than it is for members of the military and their families protected by federal law.

Capt. Alicia M. Blessington, USPHS (Ret.)

Broomall

Voice of the Poor Representative, Society of St. Vincent de Paul, Archdiocese of Philadelphia

President, Military Officers Association of America Philadelphia Chapter

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