Is Deveron Gibbons in the predatory lending business?

To hear the customers filtering in and out of the Amscot office on 34th Street S, Gibbons' Amscot Financial is a welcome and convenient service.

"It's clean, they're always friendly and it's easy,'' said Sandra Hall, a St. Petersburg office clerk, after cashing a check and getting the free Tootsie Rolls that come with every transaction. "If they weren't here, I'd probably go to a liquor store to do this."

But consumer advocates say Gibbons is part of an industry that preys on cash-strapped Americans and sucks them into a crushing cycle of debt.

The reality of payday loans seems to be less nefarious than critics describe but not as benign as Amscot suggests.

(Story here)

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Comments

[saintpetersblog]

It's about time you all write this article. Of course, you saved it for July 4th. Why did I eve doubt you all.

-- Keepin' It Real from
http://whatiswrongwithdeveron.blogspot.com/

Now, about that driving record...

[Andy Drew]

Come directly to www.CheckCashNow.com for your Payday Cash Advance needs.

CheckCashNow.com is a reliable cash advance payday loan site.

[?]

Yeah, but do you give away a free tootise roll with every shark deal?

[Payday loan primer]

Fair article. Misleading headline sure to be used by Deveron's competitors in their campaign ads.

The definition of "predatory lending" is "lending with conscious disregard of the borrower's ability to repay." If you look at the consumer protections written into the state law, there is no way the practice rises to the level of the standard in that definition.

That, of course, does not satisfy the critics, who clearly have their minds closed to an honest debate.

[.]

So Bennett uses taxpayer owned Rays tickets to buy votes, and Gibbons uses tootsie rolls… This just keeps getting better and better.

[Pelican Pete]

Interesting article. Let's review.

Gibbons:
1. Is a paid lobbyist

2. Works for a payday loan company.

3. Has raised 2/3rds of his campaign
funds from Lobbyists & Developers from outside St. Pete.

4. Was associating with know Uhurus (Larry Waller) when a murder was committed.

5. Has had his Drivers License Suspended 5 Times.

6. Has childeren out of wedlock.

Holds himself out as an example to the youth in our community and wants to be our next Mayor.

Folks, I would encourage you to examine the record of the candidates prior to sending in that vote by mail ballot!

[Osprey Ollie]

So basically, Gibbons is about as worthy of this seat as most every politician in Pinellas is of the ones they hold. It's good to be part of the click... I guess! His developer owners does explain the connection to Crist though.

[saintpetersblog]

His license was suspended as many seven times.

whatiswrongwithdeveron.blogspot.com

[southside voter]

Pete,

Good comments.

[GoBucs]

Let me see, my bank, with whom I've been a loyal and upstanding customer hits me up for accessing my own money everytime I go to an ATM, they nail me with hidden surcharges and service fees and now I question whether they will be solvent in the near term. I don't even bother opening up my 401k statements because the money handlers ran off with most of it and I don't know whether to believe that what is left in my account is actually there.

The tootsie roll deal seems pretty inviting at this point. At least you know what fee is going to be up front and, at this point, the folks who are their customers are probably fortunate that the "high end" financial institutions won't do business with them.

All those snobs who look down on the Amscots of this world ought to stand out in front of one of their facilities, open up their wallets and start undercutting the fee to a point where they think it is an acceptable risk. I probably wouldn't see many takers and the alternative would be to shut off access to credit to wide swaths of the community.

Until then it is a little disingenuous to hold a highly-regulated industry up to such scrutiny when your own "traditional financial institution" is taking a lot more skin out of the game.

[GoRays!]

looks like someone just got themselves a free tootsie roll! lame...

[GoBucs]

GoRays!

C'mon? That's all you got for me? You can do better; I believe in you.

[freedom fries]

Folks that criticize Pay-Day Loan businesses are simply uneducated.

Unfortunately, this misleading title will only perpetuate the propaganda.

[Father Ted]

Although payday loan and cash advance providers offer their loans at higher interest then the banks, they are still not comparable.

This is because banks will not fund a loan to an individual who has bad credit
or has filed for bankruptcy.

On the other hand, payday loan lenders do, which is one reason the interest is higher than a bank's per se. Moreover, payday loan providers have many expenses and often spend in excess of $15 actually servicing the loans.

So in reality, payday loan providers are not engaging in predatory lending, but are rather resolving the shortcomings of the government and banking system by providing short term cash advances to individuals who would otherwise not be able to obtain them.

[Tootsie Roll]

Mr. Gibbons is not doing nearly as well with African American voters as he was once thought to be. I feel like this Primary election has come and gone. We have attended or read the blogs of so many Forums I am weary already. None of the now 10 candidates have separated themselves from the field.

Hopefully in the coming weeks before Sept 1 one candidate will truly have something concrete to say and a plan to back it up.

[shuturyap]

Seems you answered the Amscot deal- Care to tackle the others?
Gibbons:
1. Is a paid lobbyist

2. Works for a payday loan company. (see answers above)

3. Has raised 2/3rds of his campaign
funds from Lobbyists & Developers from outside St. Pete.

4. Was associating with know Uhurus (Larry Waller) when a murder was committed.

5. Has had his Drivers License Suspended 5 Times.

6. Has childeren out of wedlock.

[Smooth Criminal]

saintpetersblog,

I'm very happy for you. Finally, you are able to comment on an area in which you have experience and expertise!

...queue the flashback music...

"Schorsch has been chased by creditors and the IRS. His car has been repossessed, and he has been evicted from an apartment. Police have busted him multiple times for driving with a suspended license.... he wrote 16 bad checks to Publix for cash this year. Each was for $76. (Publix limits customers writing personal checks for cash to $75, plus a $1 fee, a spokeswoman said.)" -SPTIMES

Well what do ya know!? Due to the strict State laws and regulations, Amscot would've been a better place to cash those checks. Certainly you of all people understand the worth of services provided by businesses like Amscot.

[gotta say it]

owned

[Tamika]

simple answer: YES

What do you think that fence around his house is for? duh.

And it keeps his daddybabies' mommas at arms length

[29%-r]

Is Amscot open today, why are thier employees blogging? Is that what the fee is for? I want two tootsie rolls next time!

[shuturyap]

ESS, ACH, EH, DEE, WHY. Not what I look for in a mayoral candidate.

[LOL]

Guys,

Come on. Leave Peter alone. Just consider him a hired gun for us ( except we aren't paying him - sorry Big P). He has a woody for the politicians. Let him go and kick their butts! We need someone to do it. We all know politicians are crooks. At Least Peter has admitted to his mistakes and is now working for us. Cheer him on!
Peter! Peter! Peter!

[GoLightning]

shuturyap - Let me school you a bit. Every executive who works for any company lobbies. It's just a fact of life. The sway that government has over every corporation makes it more necessary than ever.

Also, your disparaging of payday loan institutions seems to be more out of political expedience. In other words, but for this race, I don't think you would even give them a second thought.

Here's another news item - St. Pete is not going to get past this period of economic downturn by way of isolationism. The people who complain about money coming from outside a community are always the ones who haven't built those vital external relationships that are critical to a city the size of St. Pete. I doubt very seriously that any of the candidates would turn away such support, nor should they. I would surmise that all the candidates have cast their net far and wide; those who pull in less support always revert to plan B: sanctimony.

In regards to your TMZ-esque #4: I don't think that Gibbons has made any reservations regarding the fact that he grew up in a rough neighborhood. Unfortunately, if every child who knew the actors involved in a slaying were disqualified from holding a position of public trust, it would disqualify a whole generation of potential leaders; many of whom are current officeholders.

#5 - Okay, you've convinced me; relegate him to riding shotgun.

#6 - That one is a three point shot for you. Even you are not certain whether that issue would be a negative or else you would express your support for some other candidate. No, you know that the one thing that angers people more than anything is when one drags a candidate's children into the foray and you don't want it to come back and bite your candidate. Children are miracles, no matter the circumstance and the fact that short 5 word assertion is all you can muster leads me to believe me that those children are treated and cared for like the miracles that they are.

Fess up - who you backing?

[saintpetersblog]

If you disagree with Deveron's candidacy, never, ever mention the children situation. How is that even an issue in today's age. The one thing you can say about Deveron is he takes care of his kids.

Stick to the issues: worked for a payday loan company, license suspended multiple times, no policy ideas.

[GoLightning]

saintpetersblog,

Dude....you talking smack about the license deal is really quite funny actually. Give us the benefit of your insight: What candidate identifies with you the most?