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

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

Democracy Is Not Just A Spectator Sport

Payday Lending Ballot Initiative

OTOC’s Payday Lending Action Team was employed by many years to combat inhumane rates of interest on delayed deposit loans. In 2020 we’re taking part in a state wide ballot effort to place paid down interest levels into law.

2020 Ballot Initiative

this involves getting 85,000 signatures of authorized voters before 3, 2020 july. Within these 85,000 signatures, 36 counties need 5% o their subscribed voters to signal. Then, in the event that problem qualifies, it is in the 2020 ballot for Nebraskans to vote on november.

Amend Nebraska statutes to lessen the total amount that delayed deposit solutions licensees, also referred to as payday loan providers, may charge to a maximum apr 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 positioned from the 2020 ballot and passed away by Nebraska voters, parts 45-918 and 45-919 regarding the Delayed Deposit Services Licensing Act statutes could 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 more 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 Really Do?

  • Go to next OTOC Payday Lending Reform Action Team conference
    • Tuesday March 3, 7- 8 pm, First United Methodist Church, 7020 Cass St.
  • Talk with an OTOC frontrunner to find out more
    • Call us at to schedule a person meeting
  • 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 town to collect signatures
    • Contact Greta Carlson at to learn howto obtain a stroll list for the block
  • Gather signatures in your congregation/organization
    • email Richard Blocker at getting trained on gathering signatures. Petitions available regarding the OTOC office. 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: 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 quickly for any other events that are specific you are able to assist!

It is possible to sign up for the campaign’s volunteer list right right here


What exactly is Payday Lending?

Here’s a typical example of how it functions:

Mary earns $15.00/hour assisting in our general public schools. She’s got two school that is elementary. She’s got gross pay of $1,200 every a couple of weeks ($31,200/yr). Her get hold of pay is $950 every fourteen days. Right after paying rent/utilities & car repayment, her income that is disposable is300 every a couple of weeks.

Mary needs her vehicle to make the journey to work and today has to have it fixed costing $650. She only has $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 pays off the loan.

2/15 Mary gets compensated at the office, but cannot manage to payoff the mortgage of $300 from that check therefore she simply will pay a $53 cost and hopes to pay for 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 extra hours for summer college and it is now in a position to payoff the mortgage.

Just what exactly has Mary compensated in charges 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 charges ($53 cost x 10) with this $300 loan to fix her automobile.

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

This results in a yearly interest that is accumulated of around 400% dependent on the length of time a borrow is caught within the period. There’s also no choices for a repayment want to recommended you read help spend the principle off slim. Just reoccurring charges and soon you have the ability to repay the amount that is full.