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Omaha Together One Community. A coalition of nonprofits over the continuing state have actually teamed up to place this dilemma regarding the ballot.

Omaha Together One Community. A coalition of nonprofits over the continuing state have actually teamed up to place this dilemma regarding the ballot.

Democracy Is Not Just A Spectator Sport

Payday Lending Ballot Initiative

OTOC’s Payday Lending Action Team was doing work for years to combat interest that is inhumane on delayed deposit loans. In 2020 we have been taking part in a situation ballot that is wide to place paid down interest levels into legislation.

2020 Ballot Initiative

this calls for getting 85,000 signatures of authorized voters before 3, 2020 july. Within these 85,000 signatures, 36 counties need 5% o their authorized voters to signal. Then, in the event that problem qualifies, it is regarding the November 2020 ballot for Nebraskans to vote on.

Amend Nebraska statutes to lessen the total amount that delayed deposit solutions licensees, also referred to as payday loan providers, may charge to a maximum apr of thirty-six %; to prohibit payday lenders from evading this price limit; and also to deem void and uncollectable any deal built in breach with this price limit.

If this Petition is positioned regarding the 2020 ballot and passed away by Nebraska voters, Sections 45-918 and 45-919 regarding the Delayed Deposit Services Licensing Act statutes is amended to reflex the item with this Petition.

Key Dates:

Payday Lending Coalition Member List

AARP of Nebraska, ACLU of Nebraska, Habitat for Humanity of Omaha, Nebraska Appleseed, Nebraska Civic Engagement dining dining Table, Omaha Together One Community (OTOC), Planned Parenthood of this Heartland, Voices for kids in Nebraska, Women’s Fund of Omaha

Find out about the Nebraskans for Responsible Lending campaign here

Management Richard Blocker and Rod Kuhlmann lead a presentation at Augustana Lutheran Church

So What Can I Actually Do?

  • Go to OTOC that is next Payday Reform Action Team conference
    • March 3, 7- 8 pm, First United Methodist Church, Iowa payday loans 7020 Cass St tuesday.
  • Speak to an OTOC frontrunner to learn more
    • Call us at to schedule a person meeting
  • Host an info session we are having this ballot initiative to reform Payday Lending in Nebraska at you congregation/organization about why.
    • Contact Kevin Graham at to set up a presentation
  • Walk in your neighborhood to assemble signatures
    • Contact Greta Carlson at to learn howto get yourself a stroll list for the block
  • Gather signatures in your congregation/organization
    • e-mail Richard Blocker at to obtain trained on gathering signatures. Petitions available regarding the OTOC workplace. Phone 402-344-4401

Leaders at a petition training to gather signatures

Volunteer events:

Volunteer Action Day- Feb 23

Whom: Volunteers – Come one, come all

What: Day of Acton — Gather Petition Signatures meant for Capping Payday Lenders to 36per cent APR!

Whenever: 23 February 2020 Two changes: 10:00am-1:00pm or 2:00pm -5:00pm or better yet, both!

Where: Lincoln and Omaha

Check is quickly for any other events that are specific you are able to assist!

You can easily subscribe to the campaign’s volunteer list right here


What exactly is Payday Lending?

Here’s a typical example of how it operates:

Mary earns $15.00/hour assisting in our schools that are public. She’s two primary youngsters. She’s gross pay of $1,200 every a couple of weeks ($31,200/yr). Her get hold of pay is $950 every fourteen days. Right after paying rent/utilities & vehicle payment, her income that is disposable is300 every a couple of weeks.

Mary requires her automobile to make the journey to work and today needs to obtain it fixed costing $650. She has only $350 in savings, so she visits a Payday Lender for the other $300.

2/1 Mary writes a check into the Payday Lender for $353 and gets $300. The Payday Lender will perhaps not cash her check but will hold it until she takes care of the loan.

2/15 Mary gets paid at the office, but cannot afford to payoff the mortgage of $300 from that check therefore she just will pay a $53 cost and hopes to cover it well next payday.

2/28 It’s payday for Mary, but once more she cannot manage to payoff the mortgage

This cycle continues for Mary the following 7 paydays along with her spending a $53 fee each and every time.

6/30 Mary works hours that are extra summer college and it is now in a position to payoff the mortgage.

What exactly has Mary compensated in costs because of this loan:

$53 the time she got the loan + $53 on 2/1 + $53 on 2/15 + $53 on 7 more paydays

It cost Mary $530 in costs ($53 cost x 10) with this $300 loan to correct her automobile.

$300 loan + $530 in costs for an overall total of $830 during the period of about 5 months.

This results in a yearly interest that is accumulated of around 400% based on just how long a borrow is caught when you look at the period. Additionally, there are no alternatives for a repayment want to help spend the principle off slim. Simply reoccurring costs before you have the ability to pay off the amount that is full.