In his article, on January 28th in the Nashua Telegraph, Kevin Landrigan reported Governor Lynch's veto of SB160. Landrigan describes how "after lobbying by House GOP leaders and industry leaders" the tide seemed to have turned. Quoting Jamie Fulmer in the piece, an Advance America (sounds patriotic does it not?) frontman, “We look forward to working with New Hampshire legislators to encourage an override of this misguided veto.”
Fulmer wants to repeal current law, that caps payday loans at 36% APR, and increase it to almost 400%. With enough pressure it is possible that this law will be resurrected in some other legislation that will reach a veto proof majority of support. How could that happen?
Many NH politicians are listening to lobbyists instead of their constituents.
Advance America (AARC) in the weeks preceding the legislation had lobbyists Alexander K. Koutronbas and Erin K. Haas of Dennehy & Bouley in Concord, NH on their payroll. In addition to this formidable team Select Management Resources LLC (dba Loan Max) had no less than ten additional lobbyists working towards the same goals. Bianco Law firm of Concord had six assigned to the case according to the NH Secretary of State's documentation.
Lobbying is, like abortion, indefinate detention and loopholes in tax law, of course legal; but, at what point do we let lobbyists take over our government?
Landrigan reported that the original legislation was "authored" by NH State Senator Sharon M. Carson (R-14) of Londonderry but, seeing as she is a Civil Justice Task Force member of ALEC, it seems to have ALEC's fingerprints all over it.
Similar legislation has been highlighted recently by Susan the Bruce and Granite State Progress, now we know where these oddball bills come from.
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