Payday lenders target Terry
June 2nd, 2009
Virginian Pilot
Julian Walker
Payday Pundit, a blog of the national trade group for payday lenders, has a post on its Web site urging readers to contact Democrat Terry McAuliffe's gubernatorial campaign about his criticisms of the industry.
McAuliffe has said he will work to ban payday lenders from Virginia, which began regulating the industry earlier this decade.
Accomplishing that goal could be a challenge.
The state legislature has passed laws to further control the industry in recent years, but has not shown a willingness to completely banish it.
Even so, several payday lenders have decamped from Virginia, claiming that new regulations hurt the profitability of their businesses.
Critics contend that payday lending clients can become ensnared in a cycle of debt due to the high interest rates charged on loans. Industry officials counter that most consumers use their loans wisely, not recklessly.
McAuliffe has sought to contrast his stance on payday lending with past legislative votes on the issue cast by his two rivals for the Democratic nomination -- state Sen. Creigh Deeds, D-Bath, and former Alexandria Del. Brian Moran.
Both men recently criticized McAuliffe for a political mailing sent by his campaign that says they took money from the industry.
When asked about the payday Web site, McAuliffe senior strategist Mo Elleithee said "it's not a surprise that they're singling him out" because of his stance on banning predatory lenders.
Elleithee also reiterated themes in the recent mailing, noting that McAuliffe's "opponents voted to enable" payday lenders' operations in Virginia.
Tags:
Do you have a question or an idea to share? We'd love to hear your thoughts.
Ask Terry Your Question
Join thousands of volunteers across the Commonwealth in 14 field offices with over 40 organizers.
Find your nearest office and join us!
Virginians across the Commonwealth are joining Terry's grassroots campaign to put people back to work.
Read More-
“At meet-and-greets from small-town Leesburg to exurban Manassas to far-south Martinsville, he douses voters in an ebullient rain of proposals… McAuliffe’s ideas may be hard to beat.”
– The New Republic, 2/4/09
-
“In the midst of a daunting travel schedule and after releasing truly ambitious business and energy plans for the Commonwealth, he still maintains an energy level that those of us ten years younger would be hard pressed to match.”
– The Loudoun Independent, 4/1/09
-
“McAuliffe is rolling out a series of position papers on energy and business that go well beyond the typical two-page brochure full of bromides…his substantive pitches have raised expectations and pointed the way toward a different, more high-toned campaign.”
– Richmond Times-Dispatch, 3/25/09
-
“Although many State House insiders were initially skeptical of McAuliffe, he has been running a nearly flawless campaign. Democrats and Republicans are taking him seriously.”
– The Washington Post, 1/22/09
-
“Terry McAuliffe can get through to the (rural) culture. Like I said, he’s got a positive attitude. Terry’s also got high name recognition amongst Democrats who will vote in the primary. And McAuliffe is a good name to have out here where I live.”
– Dave “Mudcat” Saunders
Political strategist for Mark Warner and Jim Webb, 3/25/09 -
“Terry McAuliffe continues to impress – rolling out a detailed plan to revive the Virginia economy and picking up labor endorsements, the latest of which came from the American Federation of State, County and Municipal Employees.”
– The Washington Post, 4/3/09
-
“He brings a kind of energy and visibility and presence that’s just extraordinary.”
– Bob Holsworth, professor at VCU, 2/4/09
Welcome to TerryMcAuliffe.com | En Español