With payday loans in the news, this revelation came from
WHSV TV-3:
... while politicians say it's time to change the industry, many have accepted money from the same lenders they're trying to regulate.
...
Senator Emmett Hanger pocketed $5,000 from payday lenders but couldn't be reached for comment.
Other electeds received smaller contributions from payday lenders but have said it did not influence their votes.
A bill passed the house Monday to reform the payday loan industry. It limits the number and length of loans and caps the interest rate at 36 percent.
According to a political science professor, while receiving donations may not buy votes, it still may influence politicians.
"Money, while it usually doesn't buy votes in the classical political corruption idea, it does buy access," says Associate Professor of Politics at Bridgewater College, Dr. Jim Josefson.
The Senate is now working on its version of the payday lending bill.
