Wisconsin payday lenders donate $75,000 in 2009

Payday lenders gave approximately $75,000 to Wisconsin legislators and candidates in 2009, according to a report by the Wisconsin Democracy Campaign.

According to the Wisconsin Radio Network,  the WDC executive director Mike McCabe says the figures show the industry is a big player in state politics, and also offers some insight into why lawmakers have had a hard time passing regulations this session.

None of the six legislative proposals to regulate payday lenders or auto title loan companies may make it past the full legislature with only eight days left in the 2009-10 legislative calendar.

Democrats accepted the most contributions from payday lenders and the auto title loan industry compared to Republicans in 2009 with $47,140. Republicans received only $18,300. Democratic Governor Jim Doyle received $8,120 while Republican candidate Scott Walker received only $750.

According to the Milwaukee Journal-Sentinel,  the Senate is expected to consider regulations next month.

“The Assembly passed a bill in February that would limit payday loans to a maximum of $600 or 35 percent of biweekly income,  whichever is less; ban vehicle title loans; and bar people from rolling over a loan from paycheck to paycheck,” said the Journal-Sentinel.