The press
conference will be hosted by D.C. Councilwoman Mary Cheh and
will feature former payday loan company employees as
"whistleblowers".
In a public relations stunt timed
to impact the Washington D.C. City Council's vote on the Payday
Lending Consumer Protection Act of 2007 (B17-132), the Coalition
Against Payday in D.C. is planning what it calls a "Tell-All"
press conference Wednesday.
The press conference will be hosted by D.C. Councilwoman Mary
Cheh and will feature former payday loan company employees as
"whistleblowers". The event is scheduled for Wednesday,
September 12 at 10:00 AM on the steps of the Wilson Building -
1350 Pennsylvania Avenue, NW (at 13th Street).
The Payday Lending Consumer Protection Act of 2007, introduced
by Coucilmembers Mary Cheh and Marion Barry, would effectively
ban the industry by setting the maximum fee a lender could
charge at 92 cents per $100 loaned. This despite evidence that
the overwhelming majority of D.C. residents do not want to ban
the service.
A recent poll by Zogby International found that nearly 70% of
Washington D.C. residents surveyed want their elected leaders to
regulate, not ban payday lending (see
story).
The Payday Lending Consumer Protection Act of 2007 is scheduled
for a final vote on September 18.
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The press
conference will be hosted by D.C. Councilwoman Mary Cheh and
will feature former payday loan company employees as
"whistleblowers".