Payday Loans – Assembly Panel Backs Payday Loans Measure


Assembly leaders scheduled a vote for Tuesday on a bill to limit payday loans after a committee approved it Wednesday. Republicans decried the quick movement on the bill, saying Democrats were trying to bail out Sheridan by showing they were tough on payday lenders.

Advocates for the poor continued to slam the measure, saying it was riddled with loopholes and that Democrats had capitulated to payday lenders.

Assembly Democrats largely have stood behind Sheridan, but Nelson – the No. 2 leader in the Assembly – has not returned calls for more than a week. After a committee meeting Wednesday, Nelson refused to answer questions about Sheridan.

“I have nothing new to add on that,” Nelson said when asked if he supported Sheridan as speaker.

He gave similar responses when asked if he thought a cloud hung over the payday lending bill – as Republicans claim – and whether he believed it was appropriate for legislators to date lobbyists.

Sheridan left the Capitol Wednesday shortly before an Assembly leadership committee scheduled the payday lending bill for a vote Tuesday before the Assembly.

source here.

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