Merkley criticizes ‘loan sharks’ in new DSCC Web ad
By Danny Reiter, PolitickerMD.com ReporterA new Democratic Senatorial Campaign Committee Web ad features state House Speaker Jeff Merkley (D- Portland) and Oregonian residents, criticizing payday lenders.
According to a DSCC press release: “The latest episode of the Democratic Senatorial Campaign Committee's ‘Road to Victory’ series, which documents life on the campaign trail, profiles Oregon House Speaker Jeff Merkley and his work to protect Oregon families from predatory lenders.”
“Everything’s gone. They’ve shut down. And I am so proud to have fought the battle to keep these people out of Oregon,” said Merkley in the video, while standing in front of an abandoned sign reading “Auto Title Payday Loans.” He then stated “multiple, triple digit interest rates were stripping wealth from Oregon’s working families.”
The state House Speaker said he had battled to get “loan sharks out of our state more then ten years ago.” He continued: “We finally got it done in 2007.”
Merkley is currently in a heated race against incumbent U.S. Sen. Gordon Smith (R-Pendleton).
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loan
A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence. They provide credit to those who are not willing or are unable to obtain it from more respectable sources, usually because interest rates commensurate with the perceived risk are illegal.
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