Archive for June 2nd, 2011

by jhwygirl

I signed up some time ago for google news alerts on Jon Tester. The stories stacking up there lately are not something I like to see given the amount of personal time and effort I put towards his campaign. I mean, I was making calls for Jon Tester back when the reply was “Jon who??” Someone needs to say something, so here goes.

Banking reform passed congress last year and was signed into law. It was some pretty weak stuff. It was forward moving, I can give it that….but the banks also didn’t whine too much.

Until now.

Banking reform included implementation of limits on bank card swipe fees. Those debit cards? They cost retailers – and by association, consumers – pretty hefty fees. Banks want a delay in implementing limitations on these swipe fees.

Our Senator Jon Tester? He has been trying to delay implementation of this aspect of banking reform by introducing his own legislation. Senate Majority leader Harry Reid was none too please, but did agree, recently, to give it a floor vote.

Want to know how I’d like my Senator Jon Tester to be handling this issue? Take a read of Senator Dick Durbin’s open letter to Jamie Dimon, CEO and President of JP Morgan Chase & Co.

Seriously. Read it. Frankly – I hope Senator Tester reads it. Durbin dismantles banking’s argument against implementation bit-by-bit.

Who else is wanting to see delayed implementation of swipe fee limitations? Who’s championing Sen. Jon Tester’s legislation? The Heritage Foundation.

Whining about losing rewards? Wow. Talk about priorities.

Senate returns next week. The showdown on these fees is inevitable. Interestingly, last night the New York Post reported that Jon Tester is so hell-bent for getting these banks a delay in limiting their swipe fees – that he’s pushed to attach his Heritage-approved legislation as a rider to the Economic Development Reauthorization bill.

Roll Call confirms the rider story: “The provision is likely to come up as a rider on one of two noncontroversial bills, according to industry lobbyists. And with lawmakers on both sides of the aisle supporting the delay, the outcome is still very much up for grabs.”

Now is the time to contact both Senator Tester and Senator Baucus.

And meanwhile – media? While I appreciate you pointing out that Sen. Tester is doing something that we here in Montana pretty much didn’t elect him to do, it’s not really fair that all you pull out of Rehberg is that he “hasn’t taken a position on this yet.”

Seems to me that’s pretty incompetent of Rehberg – and given he’s challenging Tester and he, too, is in congress, Montanans deserve an answer…and a more visible push to get it from him.

Given all the opportunity of late with flooding, surely getting at him again with what his position is on swipe fees isn’t too hard. Same with Baucus. Inquiring Montanans want to know.

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by jhwygirl

I noticed a brief – maybe 20 seconds – commercial on your station KTMF-TV around 5 o’clock this evening. It was Western Sky Financial offering its financial services to your viewing audience, which pretty much is solely in Montana.

I wasn’t really paying attention at all, but did hear the person in the ad say “If you need $2,500 in your checking account tomorrow then call Western Sky Financial. Yes, the money’s expensive but there’s no collateral required!”

As I mentioned – the ad was awfully quick…but I love my DVR for stuff like this (and political ads, city council meetings and legislative sessions) because when I backed up and replayed the commercial I noticed the numbers (barely) in real small fine print at the bottom of the commercial.

139% APR?

Max Media and ABC Montana and KTMF should know that those kind of loans are illegal here in the state. As a public media source with an FCC license, I would have to think you have some responsibility to not air advertisements for services that are illegal.

Western Sky, in fact, isn’t even registered with the Secretary of State here in in Montana.

It is my belief that regardless of the legal issues regarding the Western Financial Loan Sharking commercial, legitimizing these types of reprehensible loans that are illegal here in Montana and forbidden by federal law for all military personnel by airing 20 second ads that flash toll free numbers guaranteeing no-collateral $2,500 loans over the phone isn’t something you should be doing.

I will be contacting the Secretary of State regarding both Western Financial and the legal ability of any Montana media source to sell and air station time for their ads and any other business like it.

Montana voters did not overwhelmingly vote to make these businesses illegal only to have advertising sources such as your stations to gain revenue by selling ad space to out-of-state loan sharks.

Sincerely,

/s/ Dawn Quixote




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