House rejects payday lending bill again

Payday lending will remain illegal in Georgia. The State House rejected a measure to bring back the short-term, high-risk loans by a bipartisan vote of 82 to 77. This was the second vote on the measure. The chamber tied last Tuesday, 84 to 84.

Supporters of the bill included House Rules Chairman Earl Ehrhart. They argued that Georgians are crossing state lines to get payday loans, and the state is missing out on the revenue. But critics, including AARP, say payday loans lead consumers down a spiral of never-ending debt. They say government should protect borrowers.