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

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

Democracy Is Not Really A Spectator Sport

Payday Lending Ballot Initiative

OTOC’s Payday Lending Action Team was doing work for many years to fight interest that is inhumane on delayed deposit loans. In 2020 we have been taking part in a state wide ballot effort to place paid off 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 is in the November 2020 ballot for Nebraskans to vote on.

Amend Nebraska statutes to lessen the total amount that delayed deposit solutions licensees, also called payday loan providers, may charge up to a maximum percentage that is annual of thirty-six per cent; to prohibit payday lenders from evading this price limit; and also to deem void and uncollectable any deal manufactured in breach of the price limit.

If this Petition is put on the 2020 ballot and passed away by Nebraska voters, parts 45-918 and 45-919 associated with Delayed Deposit Services Licensing Act statutes could be amended to reflex the thing 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 dining Table, Omaha Together One Community (OTOC), Planned Parenthood associated with 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

Exactly What Do I Actually Do?

  • Go to next OTOC Payday Lending Reform Action Team meeting
    • March 3, 7- 8 pm, First United Methodist Church, 7020 Cass St tuesday.
  • Talk with an OTOC frontrunner to find out more
    • Call us at to schedule a meeting that is individual
  • 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 assemble signatures
    • Contact Greta Carlson at to learn howto get a stroll list for the block
  • Gather signatures in your congregation/organization
    • email Richard Blocker at to obtain trained on gathering signatures. Petitions available in the OTOC workplace. Phone 402-344-4401

Leaders at a petition training to get signatures

Volunteer events:

Volunteer Action Day- Feb 23

Who: Volunteers – Come one, come all

What: of Acton — Gather Petition Signatures in support of Capping Payday Lenders to 36% APR! day

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 activities where you can easily assist!

You can easily subscribe to the campaign’s volunteer list 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 got two primary youngsters. She’s got gross pay of $1,200 every a couple of weeks ($31,200/yr). Her collect pay is $950 every a couple of weeks. Right after paying rent/utilities & vehicle payment, her income that is disposable is300 every fourteen days.

Mary requires her automobile to make it to work and today has to obtain it fixed costing $650. She has only $350 in cost cost savings, so she would go to 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 likely not cash her check but will hold it until she takes care of the loan.

2/15 Mary gets compensated at your workplace, but cannot manage 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 again she cannot manage to payoff the mortgage

This period continues for Mary the second 7 paydays together with her spending a $53 charge every time.

6/30 Mary works extra hours for summer time college and it is now able to payoff the loan.

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) because of this $300 loan to correct her vehicle.

$300 loan + $530 in charges for a complete of $830 during the period of about 5 months.

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