Months ago a survey of SD Bread for the World members yieldedÂ strong supportÂ for endorsing a ballot initiative to limit payday loans and car title loans to 36% annual interest. (Current average annual interest is 574%.) Â Thus, BFW-SD is one of the endorsers.
The organizers have been meticulous in their planning. Now the signature gathering begins.
3 ways you can help:
1.Â Find more endorsers.
Think of individuals or groups whose names would make positive influence in your part of the state, and ask for endorsements and letÂ organizers know. (email@example.com
2.Â Contribute funds.
Every effort like this has expenses. Consider sending a donation (not tax-deductible) toÂ South Dakotans for Responsible Lending, PO Box 709, Sioux Falls 57101.
One suggestion is to give as much as you would be willing to spend to get your granddaughter out of her payday loan.
3.Â Gather signatures.Â Lots of people are needed on this.
1. Ask if registered voter in SD. Â 2. Offer the Attorney General’s explanation. Â 3. Watch the signing of all 12 signatures on the page. (Don’t sign it yourself. Sign someone else’s petition.) 4. Sign at the bottom as circulator only before a notary, and send in the page.
It’s not a partisan issue. All sorts of people agree that exploiting the poor is wrong.Â Every day in our state, people are caught in these dramatic cycles of debt. Better alternatives exist and are developing in the country.Â Let’s join the growing number of states with a 36% cap.Â Your effort on this will have a huge payoff in terms of improving the lives of thousands of vulnerable people in our state!
Thanks for your help.
â€œWhen a family has nothing to eat, because it has to make payments to usurers, this is not Christian, it is not human. This dramatic scourge in our society harms the inviolable dignity of the human person.â€