Keizer will await 2007 payday-loan law

August 9, 2006 - Salem, Oregon

Keizer leaders have decided that a state law restricting payday loans is enough for their city, even though it won't go into effect until next summer.

The City Council voted 5-2 Monday against further discussion of a separate law with an earlier time frame, said Keizer City Councilor Charles Lee, who proposed the ordinance.

"I'm disappointed that we won't give citizens a chance to look at this in more depth," Lee said.

Similar ordinances are in effect in Bend, Oregon City, Silverton, Troutdale, Gresham and Portland.

"The (state) law is one of the most restrictive in the country," said councilor Troy Nichols, who voted against considering an ordinance for Keizer. "We only have three (lenders) in Keizer that offer those types of loans."

Councilor Richard Walsh was the only other city councilor to vote in favor of taking a closer look.

"I think there's an issue there," he said. "Whether we needed to do more than what the Legislature has already done, I don't know, but I was in favor of looking into it."

Councilors had two main concerns, Keizer Mayor Lore Christopher said.

"There were suggestions that this could become a campaign issue," she said. "And there just wasn't any support for it."

The other issue is the use of resources toward something that already has been decided.

"To waste staff time to deal with this when an ordinance doing the same thing will go into effect in a few months is a tremendous waste of time," Nichols said.

News Source

Statesman Journal, Timothy Alex Akimoff, Staff Writer

Related Stories - Oregon

• 'Dan Rather Reports' criticizes payday loan industry [November 23, 2006]
• Payday loan limits are long past due [November 22, 2006]
• Oregon: Report sparks interest in tightening payday loan rules [November 21, 2006]
• State promoting alternatives to payday loans [August 11, 2006]
• Keizer will await 2007 payday-loan law [August 9, 2006]
• Oregon Governor promotes ... payday loan alternatives [July 28, 2006]
• An unjust assault on payday loan industry [July 7, 2006]
• We owe more thought to payday loan issue [July 6, 2006]
• Payday lenders look for ways around cap [July 2, 2006]
• Oregon City officials look to set limits on payday loans [June 7, 2006]
• Keep lid on payday loans [May 20, 2006]
• Industry to fight payday loan limits [April 22, 2006]
• Motivations questioned in payday-loan vote [April 21, 2006]
• Payday loan regulations win final approval [April 20, 2006]
• Payday loan reform heats up [April 19, 2006]
• Group asks for strong payday loan law or nothing at all [April 13, 2006]
• Payday loans under fire for high interest charges [April 12, 2006]
• Loans that come easy can go bad fast [March 24, 2006]
• Reformers take aim at payday loan rates [February 28, 2006]
• Catholic leaders call payday loan outfits 'predatory' ... [January 19, 2006]
• Witnesses call for lending limits [January 12, 2006]
• Oregon payday loan shops under fire from officials [December 13, 2005]

Return

See: Recent News | Archived News | RSS Newsfeeds | News by State
Go to PLIWatch.org home.