Not a day goes by that I do not get asked why our government allows what I call high interest consumer loan games. I always respond that the results of how these payday loan companies conduct business is a direct result of how our system of government is set up.

With allowing special interest money to be spent the loan companies just buy the votes they need to get favorable results.

Lets take a look at MoneyTree. You see the adds on TV all the time telling you to run to your keyboard and get your money fast! Well, let us see how they have adjusted the laws in their favor.

Tracking The Money

In 2012 this company sunk over $200,000 into The campaigns of lawmakers in Washington, mostly Republicans, in hopes of getting favorable results from the proposal of creating a new high interest consumer loan in the state that was going to be presented to the legislature a few months after the elections.

Payday lenders needed a boost, so they thought, after the tough 2010 reforms were created. The number of payday loans fell from 3.2 million in 2009 to about 856,000 in 2011.

Breaking it down further

The payday loan companies solution to this problem was simple. Back the people who would vote in favor of what the companies were looking for. The results are telling an interesting story.

• Republican party received $193.975
• Barbara Bailey, R-Oak Harbor received $11,200 (She won)
• Republican Sen. Don Benton’s re-election campaign received $26,800 (He also Won by 74 votes, Interesting note, this Senator does not have any MoneyTree branches in his district. He also is a co sponsor on a bill (one co – written by MoneyTree lobbyists) that would create a high consumer loan that would allow lenders to make loans of up to $1,500. Interest rates nearing 200 percent and repayment periods stretching from six months to a year would be part of this bill, labeled Bill 5312.

The list is large and this is only a small example of who got the money. This conduct is legal and it happens every day. Not only in the loan business, but in every aspect of our lawmaking.

What can be done?

Everyone has the power to just say no to getting these kinds of loans. This would be the first step in getting the message out that we will not be victimized by high interest rates and insane terms.

As far as how our government conducts business, this is something that needs complete reform from the ground up. If every American took an interest in what needs changing, it would happen, but the odds are against that happening.

The best we can do at this point is be aware, and be selective in who we do business with. It is always best to avoid high interest consumer loans. They only make the lenders rich.

If you are having trouble with payday loan debt and are in need of help, please check out our payday loan repayment plan to see how we can help you. We know how hard it is to deal with out of control debt, and we are here to help!