DPC Testifies Against Oregon House Bill 4116, DIDMCA Opt-Out

Domestic Policy Caucus Secretary/Treasurer Kent Kaiser, Ph.D., testified before the Oregon House Commerce and Consumer Protection Committee on February 3 to oppose House Bill 4116, which would opt the state of Oregon out of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA).

In part, Kaiser testified, “You should understand this: The need for credit doesn’t disappear when credit options are taken away. What does disappear when you take away credit options is affordability and purchasing power. Without purchasing power, affordability is irrelevant… You wouldn’t send someone to the Alvord Desert without a water bottle. You shouldn’t banish poor Oregonians to a veritable credit desert with no way to purchase what they need to survive, either.”

Read the full testimony here.