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

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

Democracy Is Not Really A Spectator Sport

Payday Lending Ballot Initiative

OTOC’s Payday Lending Action Team was employed by many years to fight interest that is inhumane on delayed deposit loans. In 2020 we have been taking part in a state wide ballot initiative to place paid down rates of interest 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 require 5% o their voters that are registered signal. Then, in the event that problem qualifies, it’s going to be regarding the 2020 ballot for Nebraskans to vote on november.

Amend Nebraska statutes to cut back the quantity that delayed deposit solutions licensees, also called payday loan providers, may charge up to a maximum apr of thirty-six percent; to prohibit payday lenders from evading this price limit; and also to deem void and uncollectable any deal manufactured in breach for this price limit.

If this Petition is put on the 2020 ballot and passed away by Nebraska voters, parts 45-918 and 45-919 regarding the Delayed Deposit Services Licensing Act statutes could be amended to reflex the item for 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 associated with the Heartland, Voices for the kids in Nebraska, Women’s Fund of Omaha

Find out more about the Nebraskans for Responsible Lending campaign here

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

Exactly What Do I Really Do?

  • Attend next OTOC Payday Lending Reform Action Team conference
    • March 3, 7- 8 pm, First United Methodist Church, 7020 Cass St tuesday.
  • Talk with an OTOC leader to find out 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 area to gather signatures
    • Contact Greta Carlson at to learn howto get yourself a walk list for the block
  • Gather signatures in your congregation/organization
    • e-mail Richard Blocker at to have trained on gathering signatures. Petitions available regarding the OTOC workplace. Phone 402-344-4401

Leaders at a petition training to collect signatures

Volunteer events:

Volunteer Action Day- Feb 23

Whom: Volunteers – Come one, come all

What: day’s Acton — Gather Petition Signatures to get Capping Payday Lenders to 36per cent APR!

Whenever: 23 2020 Two shifts: 10:00am-1:00pm or 2:00pm -5:00pm or even better, both february!

Where: Lincoln and Omaha

Check always is soon for any other certain occasions where it is possible to assist!

You are able to subscribe to the campaign’s volunteer list right here


What exactly is Payday Lending?

Here’s a typical example of how it functions:

Mary earns $15.00/hour assisting in our general public schools. She’s got two primary youngsters. She’s got 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 & car repayment, her income that is disposable is300 every a couple of weeks.

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

2/1 Mary writes a check to your 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 compensated at the job, but cannot manage to payoff the mortgage of $300 from that check therefore she simply will pay a $53 charge 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 period continues for Mary the following 7 paydays along with her spending a $53 charge every time.

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

Just 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 charges ($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 easy online payday loans in Arkansas is accumulated of around 400% dependent on the length of time a borrow is trapped within the period. There’s also no alternatives for a payment intend to help spend the principle off lean. Just reoccurring costs unless you have the ability to pay off the amount that is full.