VOICE Clergy Fight for Payday Lending Reform in Oklahoma
The press conference began with a dark story: teacher's union president Elise Robillard, and single mother, was cash strapped and only "one flat tire or one sick kid away from a financial emergency." She took out a payday loan, thinking it a quick fix. Ultimately, it drove her into bankruptcy.
In response to stories like hers, religious leaders of VOICE-OKC, including Rev. Lori Walke of Mayflower Congregational Church and Rev. Tim Luschen of Charles Borromeo Catholic Church, are now calling for payday lending reforms. According to The Oklahoman, Oklahomans pay $52 million in fees charged by payday lenders, paying an average annual interest rate of 391 percent.
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