Payday Loan Industry News: Election Fraud?

By Shawn Lee Martin


payday-loan-industry-newsIn the latest payday loan industry news, we find some interesting developments in more than one race.

In an election year that is wrought with claims of lying, cheating and all around crazy behavior in the race for president, an interesting twist has developed in at least a couple of campaigns involving the payday loan industry and politicians behavior.

We have known and reported countless times that the payday loan industry has used their influence by helping politicians get elected in return for favors.

This comes with a price to both the politician and the users of these services as the favors are usually in helping the payday loan companies continue with their outrageous profits while having little regard for the safety and well-being of their clients.

Let’s take a look at what’s happening in a couple of local campaigns around the country.

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Missouri Election Corrupt?


Payday Loan Industry News
Democrat Chris Coster

Missouri Republicans are questioning contributions to democrat Chris Coster who is running for governor.

They are accusing him of taking donations from payday lenders in his past Attorney General race.

They are claiming he in return did not take any action in the fight to eliminate egregious lending practices by these companies.

Records show that he did receive over $200,000 in contributions from not only specific payday loan lenders but also from trade groups, call centers, and others involved in the industry.

That being said Costers’ campaign spokesman David Turner disputed these claims and was quoted as saying: “Any allegations to the contrary are baseless and unfounded. He has implemented the strongest conflict-of-interest policy in the country, refunding or returning more than $115,000 during this campaign cycle. Furthermore, he has taken a number of actions against payday lenders during his tenure, including shutting down 8 operations in 2015.”

In looking up his progress against these lenders one finds he did indeed go after several lenders and individuals while Attorney General.

Records confirm his campaign spokesman’s’ quotes and show he was extremely aggressive in prosecuting these borrowers.

Coster also claims these same Republicans took 65% of the payday loan industries contributions through the 2000s.

It looks like this is a classic case of he said, she said between two parties in a crazy election year. The records do seem to support Mr. Costers’ claims.

Kevin Yoder On The Take?


kevn-yoder
Republican Kevin Yoder

Republican representative Keven Yoder is also under fire by the Democrats for accepting over a quarter million dollars in donations for the payday loan industry.

This claim seems to have a bit more bite as records show that according to the Campaign for Accountability Yoder has taken more in donations to his campaigns by these companies that any other representative in office.

They have filed ethics complaints claiming Yoder of taking thousands of dollars from the industry in return for voting to weaken oversite of the payday loan industries business practices.

They are also naming 10 others in their claim that these politicians are manipulating the oversight of these companies and it is harmful to the general public’s financial well-being.

Accusations are flying around like crazy this election cycle and Yoder is right in the thick of it.

Summary


While the records of these politicians speak loudly, some in contrary to the accusations and some in support of the corruption, people are starting to take notice of how our elections are run and what is acceptable behavior once in office and using this information when choosing who to vote for.

In a perfect election, there would not be any special interest money allowed and we would like to thank each and every politician who agrees with this view and practices it today.

Until this money is taken out of the picture there will be more and more claims of politicians on the take and more and more claims of denial.

We hope this practice does go away and our political races are cleaned up a bit.

What are your views?

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Are you in need of help with payday loan debt?

Click here for the help you deserve!

2 thoughts on “Payday Loan Industry News: Election Fraud?”

  1. I guess I reached a stage in my life where I realized that politics is another word for corruption.

    I just don’t see how politics could ever be clean.

    So, I’m not shocked by these developments as part of the campaign.

    Great article – nonetheless. You’ve made a link that many people can easily miss.

    1. Hi, Peteni!

      It seems that there are political influences in anything involving money anymore.

      I am just glad we are able to help anyone who needs help with payday loan debt and we do not care what their political party is, lol.

      Thanks so much for stopping by!

      Shawn>>

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