In December host Robin Martinez spoke with local Attorney Dale Irwin about Zombie Debt. This time Dale gives us the low down on the Pay Day Loan industry in Missouri. He tells the history, the legal battle to get around Missouri’s Usury laws and the subsequent political pressure (campaign money) that made our state one of the friendliest in the nation for this industry.
Dale explains how borrowers are sucked in, how they are hooked into a debt they can never pay off, how they typically try to get out and fail. Activists attempted to put a cap on interest rates on the ballot in the last election. Why did they fail and what needs to happen now? Listen in and find out .
This is another show covering Economic Justice and/or Injustice issues on JoJR. We want to shine a light on those aspects of our society that put people in the path of the justice system and hopefully help you avoid that contact. This is the second of two conversations with local attorney Dale Irwin.
Dale Irwin is a Partner at Slough Connealy Irwin and Madden here in Kansas City.
Robin Martinez is Senior Partner at Matinez, Madrigal and Machicow and a member of the local chapter of the National Lawyers Guild.