February 22, 2010 11:49 PM UTC

Spam This, Payday Lenders

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• by: Colorado Pols

We wrote last September that we were sick and tired of getting payday lending spam on our comments threads, so we were openly declaring war on the industry in Colorado.

Now that a bill is being introduced to limit the crippling interest rates that payday lenders charge, it’s time for us to step up our fight as promised.

Here are the state legislators who are supporting payday lenders and are set to oppose legislation that will be introduced today. We’re not telling you to call them or send them emails or letters or anything: this is strictly for your own personal edification. We just thought you’d like to know which state legislators are supporting predatory interest rates in Colorado (note to any of those listed below: Feel free to post below, or send us a note, if you would like to express a different position).

The list below only reflects members of the House, since the Senate won’t see the bill until after the House does.

KNOWN OPPONENTS OF PAYDAY LENDING REFORM

LEANING TOWARDS OPPOSING REFORM

This list reflects the names of those legislators in the House who are currently expected to oppose payday lending reform. In other words, these folks seem to have no problem with stories like these. These legislators also seem to have no problem making politically inexplicable decisions, because there’s no way to positively spin this (or defend yourself from the attacks) when you are running for re-election. “I Heart Payday Lenders” isn’t exactly a good bumper sticker.

As we said a couple of weeks ago, a referred measure to the voters is just fine politically, and offers practical benefits: it will make the bill harder for opponents to kill by removing the finality from legislators’ votes, thus giving swing legislators–possibly including one or more listed above–an ‘out’ when the high pressure lobbyists darken their door. By the same token it makes a vote against letting the people vote on payday lending much harder to politically justify. Referring payday lending for a statewide vote gives provides an excellent populist consumer-protection issue to campaign on all the way through November, in contrast to the “Dr. Evil Initiatives” Republicans are running away from as fast as they can.