Payday loan legislation gets final approval from Governor, Vows to block any attempts to water down the protections

Governor Ted Kulongoski signed into law protections against exploitive payday loans before legislators and advocates for the working families Wednesday.

Kulongoski's leadership brought together Democratic and Republican leaders to pass the legislation during the recent special session.

The Governor told the audience:

I believe that all our citizens deserve access to fair and affordable credit. That means putting a stop to businesses that take advantage of the working poor by charging excessive interest on loans they desperately need to make ends meet until their next paycheck.

Learn more here

Kulongoski has also vowed to block any attempts by the industry and their allies to water down the legislation over the coming months.

"We're not going backwards on this bill," he told reporters.

Get the full story here.

Posted on April 28, 2006
Front Page News, Oregon's Helping Hand