Hello all Western Region V.O.P. members from Boise! How did it get to be May? This year is flying.
Our VOP team plans to meet all summer and come up with an answer to the bill passed last March, sponsored by Sen. Heider, which allows Payday Lenders to charge interest rates and fees, with no limitations and allows the loans to be rolled-over three times (see March newsletter.) We hope that, in the meantime, the federal financial consumer protection committee comes out with regulations on small loans by Predatory Lenders.
We are also studying the alternative micro-loan programs that are working so well in Texas and in Illinois (if there are more programs that we do not know about, please share the information). We want to be prepared in case we will have the opportunity, funds, and partners, who are willing to collaborate on starting a program in Idaho with us.
We keep all of our Vincentian family in our prayers and hope you have a productive summer with time for family fun. Looking forward to reading about all of your efforts in the newsletter and hope to see all in San Diego.
Reported by Kelly Anderson, Boise, ID
Our VOP team plans to meet all summer and come up with an answer to the bill passed last March, sponsored by Sen. Heider, which allows Payday Lenders to charge interest rates and fees, with no limitations and allows the loans to be rolled-over three times (see March newsletter.) We hope that, in the meantime, the federal financial consumer protection committee comes out with regulations on small loans by Predatory Lenders.
We are also studying the alternative micro-loan programs that are working so well in Texas and in Illinois (if there are more programs that we do not know about, please share the information). We want to be prepared in case we will have the opportunity, funds, and partners, who are willing to collaborate on starting a program in Idaho with us.
We keep all of our Vincentian family in our prayers and hope you have a productive summer with time for family fun. Looking forward to reading about all of your efforts in the newsletter and hope to see all in San Diego.
Reported by Kelly Anderson, Boise, ID
