WHAT'S IMPORTANT THIS WEEK
Ahead of the July 29th Senate Banking Committee hearing on a proposed national interest rate cap, we called on Senate Republicans to put consumers and vulnerable borrowers ahead of the payday loan industry that has poured over $800,000 into their campaign war chests. The hearing followed the introduction of the “Veterans and Consumers Fair Credit Act” in the Senate, arguably the strongest measure to come before Congress to keep consumers out of the payday loan debt trap. The bipartisan bill, backed by several veterans’ advocacy groups and even conservative Congressman Glenn Grothman (R-WI), would expand the Military Lending Act’s 36% interest rate cap to veterans, Gold Star Families, and all consumers nationwide -- a blessing for borrowers in states where 400% or higher APRs are commonplace and perfectly legal .
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SOCIAL SHARE OF THE WEEK
Yesterday, Kroger, one of America’s largest supermarket chains, announced that scandal-plagued former Trump Transportation Secretary Elaine Chao has been elected to the company’s board of directors. A company’s staff reflects its values, and Kroger’s decision to reward a complicit top Trump official with a cushy executive gig does not speak well to theirs.
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HEADLINE OF THE WEEK
“Report: Real Estate Groups Paid GOP Lawmakers Huge Sums to Reinstate Evictions”
Truthout highlighted a report published by Accountable.US that revealed Senators Mike Crapo and Pat Toomey, who both raised objections to the eviction moratorium as early as December of last year, have pocketed hundreds of thousands of dollars each from real estate groups. Crapo has taken nearly $281,000 and Toomey $183,000.
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PRESS RELEASE OF THE WEEK
As TX Gov. Abbott Attacked Voting Rights, Businesses Gave Him Millions
We released a new report revealing that leading corporations have given Texas Governor Greg Abbott MILLIONS OF DOLLARS amidst his push for legislation that would disenfranchise countless voters in his state.
After Texas lawmakers killed Abbott’s voter suppression legislation in May, the Governor vowed to push harmful voting restrictions through the legislature by calling “special session after special session.” In spite of his fringe conspiracy-tied legislative agenda, business leaders like Houston Rockets Owner Tilman Fertitta; Whole Foods CEO John Mackey; oil, gas, and energy PACs and executives; and several other corporate leaders have funneled money into Abbott’s campaign coffers.
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INFOGRAPHIC OF THE WEEK
Leading corporate donors have given Texas Gov. Greg Abbott MILLIONS in campaign contributions -- even as he pushes legislation that would disenfranchise countless voters. Want to find out who’s been bankrolling his voter suppression?
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