This editorial will appear in Tuesday’s print edition.
Senate Bill 5312 is such a bad idea, one of its cosponsors ended up voting against it.
Even so, the legislation – essentially an end run around much-needed payday lending reforms the Legislature made in 2010 – passed the state Senate last week 30-18 and now is in the House. There it will be shepherded by state Rep. Steve Kirby, D-Tacoma, a longtime champion of the payday lending industry.
Passage in the House would be unfortunate and most certainly would result in more vulnerable, low-income people being exploited by an industry that has a long history of doing just that.
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