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Konni Burton Owes Payday Lenders

No candidate for the Texas State Senate has taken more money – in less time – from predatory payday lenders than Senate District 10 Tea Party Republican candidate Konni Burton.

No candidate for the Texas State Senate has taken more money – in less time – from predatory payday lenders than Senate District 10 Tea Party Republican candidate Konni Burton.

In 2014 alone, Burton raked in $16,500 from payday lenders. No one else running for state Senate came close.

Payday lenders lure customers in with promises of quick cash, but then lock borrowers into a debt cycle where loan fees and interest payments can total more than 300 percent of the original loan.

Burton’s alliance with predatory lenders exposes not just her indifference, but her hostility to families under financial pressure – especially active duty military families struggling to make ends meet.

Burton turns back on active duty military families

US military leaders have identified payday lenders as a threat to military families, exploiting them while they balance serving our country with caring for their families. One military leader characterized the predatory lending outlets located near the entrance of military bases as “bears on a trout stream.”

Burton sides against religious leaders

Religious leaders across Texas, particularly the Catholic Church, have led efforts to end the crippling practices of payday lenders. They see first-hand families pulled apart and lives destroyed by predatory lender policies to repossess virtually anything of value – even a borrower’s home.

Like Abbott, Burton gives a green light to payday lenders

In 2006, Greg Abbott issued a decision that shielded payday lenders from the same consumer protections that cover banks and most other lenders. Since Abbott gave payday lenders the green light, Texas has become a haven for predatory lending. Texas now has more payday lender outlets than McDonald’s and Whataburgers – combined.

In fact, the Abbott/Burton rules for payday lenders have become a national laughingstock, leading comedians and social commentators to point to the Abbott/Burton approach as a guide to “what not to do.”

Konni cashing in

Burton’s Senate District 10 opponent, Libby Willis, has sided with military families and the faith community against predatory payday lenders.

It’s likely Konni Burton saw a financial opening and moved to claim payday lender money – betting that neither the press nor voters would notice until after the election.

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