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

Omaha Together One Community. A coalition of nonprofits over the continuing state have actually teamed up to place this problem regarding 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 situation wide ballot effort to place paid off rates of interest into legislation.

2020 Ballot Initiative

this involves getting 85,000 signatures of subscribed 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 will likely be from the November 2020 ballot for Nebraskans to vote on.

Amend Nebraska statutes to lessen the total amount that delayed deposit solutions licensees, also referred to as 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 with this price limit.

If this Petition is positioned in the 2020 ballot and passed away by Nebraska voters, parts 45-918 and 45-919 associated with the Delayed Deposit Services Licensing Act statutes will be amended to reflex the thing of the 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 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

So What Can I Actually Do?

  • Go to next OTOC Payday Lending Reform Action Team conference
    • Tuesday March 3, 7- 8 pm, First United Methodist Church, 7020 Cass St.
  • Speak to an OTOC frontrunner to learn more
    • Call us at to schedule a person meeting
  • Host an info session at you congregation/organization about the reason we are experiencing this ballot effort to reform Payday Lending in Nebraska.
    • Contact Kevin Graham at to set up a presentation
  • Walk in town to assemble signatures
    • Contact Greta Carlson at to learn howto get yourself a stroll list for your 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 gather 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 quickly for any other events that are specific 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 schools that are public. She’s two school that is elementary. She’s gross pay of $1,200 every fourteen days ($31,200/yr). Her get hold of pay is $950 every fourteen days. Right after paying rent/utilities & vehicle payment, her income that is disposable is300 every fourteen days.

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

2/15 Mary gets compensated at the office, but cannot manage to payoff the mortgage of $300 from that check therefore she just will pay a $53 charge 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 following 7 paydays along with her spending a $53 cost each and every time.

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

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 fee x 10) with this $300 loan to fix her vehicle.

$300 loan + $530 in charges for an overall total of $830 during the period of about 5 months.

This results in a yearly accumulated interest price of approximately 400% based on just how long a borrow is caught within the period. There are no alternatives for a repayment intend to help spend the principle off slim. Simply reoccurring costs and soon you have the ability to pay off the amount that is full.

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