Foe of payday advances loses battle in House committee

Foe of payday advances loses battle in House committee

SALT LAKE CITY — A bill geared towards restricting people to two payday loans at a time passed away in a residence committee after lawmakers heard both individuals ravaged because of the short-term, high-interest loans and from advocates with respect to the industry it self.

Rep. Brad Daw, R-Orem, sponsored HB 144.

“once I first went for office in 2004, this is a tremendously concern that is big it is been a continuing concern for quite a while,” Daw told the Standard-Examiner earlier in the day this week. “But it absolutely wasn’t until 2010 that we finally had sufficient constituents having said that you have to do one thing.”

During those times, Daw started taking a look at feasible solutions, which place him at chances with all the industry that donated big sums of income to different candidates that are in-state. A residence research unveiled that several of those bucks funded assault mailers and calls that aided bump Daw away from workplace in 2012. But voters returned him to workplace last November in which he took another swipe in the industry with a bill he described as a flat-out ban or perhaps a free-for-all.

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