----- Original Message -----
From: Lesley Clark [mailto:email@example.com]
Sent: Thursday, March 26, 2015 03:26 PM
To: Velz, Peter
Subject: WH travel pool report #4
Pool was lead into a small room at the college where Obama was sitting
at a table w community leaders, he said they were talking about the
challenges posed by pay day loans.
Please check quotes against transcript
Obama said that a "Lot of folks will come across some difficult
times.. The car may break down at a bad time .. If things are tight"
and that "Too often they get steered into payday loans" where the
Interest rate could run 400 , 450 percent
Might require $1,000 in interest
"That's not who we are
Who we should be as a country."
The good news is the CFPB is acting, he said so that people are "not
going to be burdened in perpetuity."
Obama said payday reform was "Not a partisan issue" and that there
Are Republicans as well as Democrats who care about the issue
Pool was led out and Obama is about to deliver remarks shortly.
That event is open press.
From the WH:
"Lawson State Community College:
Lawson State is a public, two-year, community college that is a
national leader in preparing students for success in postsecondary
education and future careers. Over half of Lawson State’s 3,000
students graduate or transfer to continue their studies within three
years. Lawson State is also one of twelve Historically Black Community
Colleges that would directly benefit under the President’s America’s
College Promise proposal, which seeks to make two years of community
college free for all responsible students.
Before the President’s remarks at Lawson State University, he will
participate in a roundtable with community leaders working to protect
consumers in Alabama as well as individuals who have been negatively
affected by predatory lending. The President will discuss the work his
Administration is doing to support the middle class and help ensure
that working families are not getting ripped off – from Wall Street
Reform to cracking down on financial advisers who don’t have their
clients best interests at heart to the creation of the Consumer
Financial Protection Bureau and their announcement today that they are
considering proposing new rules that would end payday debt traps. This
is also an opportunity for the President to hear directly from
individuals who have been affected by predatory practices and the
consumer advocates, faith leaders, and civil rights leaders who are
working hard in Alabama to better protect them.
The community leaders at today’s meeting are primarily from
organizations that are members of Alliance for Responsible Lending in
Alabama (ARLA), a network of congregations, nonprofits and community
groups working to end predatory lending practices in Alabama.
List of attendees at the roundtable:
· Shay Farley, Legal Director of Alabama Appleseed
· Stephen Stetson, Policy Analyst at Alabama Citizens Policy
· Shannon Webster, Senior Pastor, First Presbyterian Church of
· Ollie Parham, Economic Development Chair of the Alabama NAACP
· Joan Witherspoon-Norris, Director of Social Justice of the
YWCA Central Alabama
· Lytressa “Kandi” Wiley, Affected Borrower
· Dr. Perry Ward, President of Lawson State Community College
Next to POTUS were:
· Ollie Parham
· Joan Witherspoon-Norris
Background on introducer, Ollie Parham:
Ollie Parham, once a payday loan borrower herself, now serves as the
Economic Development Chair of the Alabama NAACP, which is an active
participant in the Alliance for Responsible Lending in Alabama. The
Alabama NAACP works statewide to help borrowers who are victims or
potential victims of predatory lending—including through financial
education on interest rates and advisement on getting out from under
White House Correspondent