I should
have suspected that there was something rather nefarious about that ad
campaign. For it has been in heavy
rotation during shows like [Judge Joe Brown] and [Judge Judy] in the afternoons
in our area.
What was
that? How would I know about such a
thing? Well, um, my wife and her mother
really enjoy those shows, and they have mentioned seeing that commercial a lot.
So, with
my curiosity piqued, I endeavored to persevere until I got to the bottom of the
mystery. For as you just saw, the
commercial does not give any indication of just what it is really about.
Lo and
behold, the people behind it are those who run such places as payday and title loan
businesses. For [Missourians for Responsible Lending] is seeking to add the following proposal to the November
ballot.
Shall Missouri law
be amended to limit the annual rate of interest, fees, and finance charges for
payday, title, installment, and consumer credit loans and prohibit such lenders
from using other transactions to avoid the rate limit?
Nope,
the members of [Missourians for Equal Credit Opportunity] do not want that
happening. For being able to legally charge over 400% interest is really good
for their business.
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