SOUTHFIELD, Mich.—The Michigan league said a billboard campaign it launched targeting elected state officials and other policymakers with a message opposing a bill that would expand payday lending is working.
"Based on the large amount of feedback from policymakers and staff, we know that this strategy, supported aggressive lobbying by our government affairs staff and thousands of grassroots contacts from credit union members around the state, is having an impact,” said Ken Ross, executive vice president/COO for MCUL & Affiliates, in a statement.
As reported earlier on CUToday.info, the MCUL placed 27 billboards in the Lansing (state capital) area and along I-96 in and out of Grand Rapids. The billboards are targeted at lawmakers traveling to and from the capital. The billboard messages oppose legislation that would allow for new loans of up to $5,000, with a new monthly account service fee of 9.75% of the original amount borrowed. The league has argued the Regulatory Loan Act, if passed, will allow payday lenders to make bigger loans with higher fees.
The league said it also is counting on the billboards to raise awareness of credit unions.
Related