The payday lending industry is so worried about the Hickey-Hildebrand initiative to cap interest rates, they are threatening to take away our beer and ribs. In David Montgomery's last Sunday report, Dollar Loan Center founder and alpha shark Chuck Brennan warns of the profound cultural impact of shutting down his usury industry:
That includes "Chuck's Kegger," a new summer rock-and-roll festival starting next year in Sioux Falls. When he announced Chuck's Kegger this week, Brennan said he'd made a long-term commitment to the festival — but would change in a heartbeat if voters approve a rate cap in 2016.
"The event would end there," Brennan said. "If it isn't for the money coming in from Dollar Loan Center, there aren't these big concerts and donations. We donate every penny we get from the state of South Dakota" [David Montgomery, "Payday Loans Could Cease in South Dakota," that Sioux Falls online content experience, 2014.12.14].
(What? The state of South Dakota is giving payday lenders money? Let's knock that off right away!)
Rep. Rev. Steve Hickey knows the Bible is much clearer on the sinfulness of usury than the ills of missing out on one more kegger. Rep. Rev. Hickey responds to Brennan's empty threat appropriately:
"We will survive one less rib/keg-fest," Hickey said. "I care a lot more that that money is coming from people who can't afford chicken on their table at night. If he wants to say he's going to pull his big party away from here, I'm sorry" [Montgomery, 2014.12.14].
Heck, if South Dakota passes their initiative, I'll bet Pastor Hickey's Church at the Gate would be more than happy to have everyone over for potato soup supper and fellowship.