Boland hearts "predatory" lenders
Rich Miller at "The Capitol Fax Blog" has the inside dope on efforts to introduce legislation that would force so-called "pay day" lenders to charge less exorbitant interest rates.
According to Miller, who knows of which he speaks, Rep. David Miller (D-Dolton) has been laboring for four years trying to pass a Payday Loan Reform bill which would impose some needed restraint on these very profitable businesses that prey on predominently lower income clients and charge rates that would make your head turn inside out.
Enter Mike Boland, the chair of the Payday Loan subcommittee of the Financial Institutions committee, and well, Rich Miller explains it best. In the excerpt below, he refers to a story in the Chicago Sun Times. The ISLA mentioned is the "Illinois Small Lenders Association", the kinder, gentler name for lobbyists for payday and title loan joints.
"Not mentioned in the story is how the committee's chairman, Rep. Mike Boland, has been running interference for ISLA and the title loan companies, and completely ignored the wishes of the bill's own sponsor, Rep. Miller (no relation), while trying to highjack the issue for himself.
Miller has worked on this bill for four years. Boland jumped into the fray two weeks ago and essentially threatened to kill Miller's bill and sponsor his own legislation, which would have placated ISLA - the group that now complains about being "blown off" but adamantly refused to negotiate with the consumer groups during those four long years."
Read Miller's piece.
Thoughts? Comments?
posted by The Inside Dope @ 3/08/2005
17 comments
17 Comments:
That doesn't surprise me....Mike Boland is a retard
But the use of the word "retard" doesn't exactly reflect well on your intellect either. Please avoid it in the future. Thanks.
Any other comments that show a bit of thought?
What I hear out of Springfield is that State Rep. David Miller, a thoughtful and hard-working legislator and dentist, has been toiling away on this complicated issue for three years. And then Speaker Madigan appointed Rep. Mike Boland to chair this new committee and he's hijacked -- or as some say, "bigfooted" -- the issue from Miller.
"Bigfooting" is when a single legislator tries to claim he or she is the only legislator capable of solving a problem. It's a disease in Springfield, as they scramble to get press about their accomplishments.
Actually, Denny Jacobs set the bar high. He didn't believe in "I" but "We." You make much more progress when you approach things that way.
Thanks for the very informative comment and adding to our understanding of this "Miller Time"
Once again, spot light hog Mike Boland to the rescue! Nice work!
ain't that a shame?
How refreshing it would be to have legislators who forget trying to single-handedly claim they're doing something. There is nothing new under the sun, folks, and teamwork is the best way to get things done. When you hear a legislator or congressman say "I did this" you had better beward of their intentions.
Again, Denny Jacobs was great about we and not I.
I urge State Rep. Verschoore and new State Sen. Mike Jacobs to show Rep. Boland how to work as a team.
We can't afford freelancers. The stakes are too high. Voters can smell a self-promoter a mile away.
Read Capitol Fax today. The House moved the payday loan bill to the House floor for a vote, thereby skirting Rep. Mike Boland's attempt to bigfoot the bill. I guess some of his colleagues wanted to send him a message about Bigfootin'.
The Dope has searched the entire Captiol Fax blog and sees nothing about this, nor is there anything in Miller's latest column. Where are you reading this?
ooops, it must be on the Capitol Fax blog today. sorry.
QUINN PROBABLY STOPPED RICH MILLER FROM PRINTING IT TO PROTECT HIS LITTLE BUDDY'S REPUTATION.
Easy there big fella. Ease up on the CapsLock, eh?
There is NOTHING on either The Capitol Fax Blog or in Miller's online column.
Unless you're reading the subscription version. (which The Dope can't afford)
There is simply nothing there anything like what you've mentioned.
If it exists, please send the address to The Dope in email.
I am very confused about the payday loan issue, Dope. Somewhere else you mention Boland's bill pushed a 400% interest rate. Is that possible?
I thought he was a consumer hero.
Is the bill still alive in the General Assembly? Who do we call to lobby against it besides Rep. Boland?
That info was in my subscription newsletter - the one you can't afford. :)
I wouldn't be exactly happy that I can't afford it... sheesh. ;-)
But I'm glad someone FINALLY cleared that up. I thought I was going blind when I couldn't find it anywhere.
I WISH I could afford it, but at $350, it's a out of the Dope's reach. I can't bill it to a company or cut a check on my campaign account. I'm sure it's worth every penny, but there's a long line of real stuff vying for that $350. Alas, I'm afraid it's a luxury I can't afford.
Maybe the goofy tip jar thing will soon overflow with large bills.
-cough- Then I'll consider a sub.
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