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February 16, 2009 4:00 PM

Payday loans

Posted by Letters editor

Perpetuating problems

The payday-lending industry has put Washington state at the top of its list of states that could have negative, regulatory events this year. This means they are worried Washington will pass meaningful regulations.

Please vote yes on House Bill 1073 and Senate Bill 5150 to extend the 36 percent interest cap, producing a reasonable loan product without excessive interest rates.

Too many of our citizens believe a payday loan will solve their problems. They do not realize it may be the start of many more problems.

Protect them.

-- John Derrig, Bellevue

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