Shareholder Consent Bill Advances

In this update: 1. Senate backs accountability for corporate election spending 2. Weak payday lending bill OK’d 3. D.C. group’s gripe about protest earns them a second helping Shareholder Consent Bill Advances

Email date: 4/14/10

In this update:
1. Senate backs accountability for corporate election spending
2. Weak payday lending bill OK’d
3. D.C. group’s gripe about protest earns them a second helping

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Senate backs accountability for corporate election spending
The state Senate yesterday passed legislation supported by the Democracy Campaign requiring corporations to notify and get permission from shareholders before using their money for election spending. The legislation now moves to the Assembly. Please take a minute to contact your representative in the Assembly to urge action on Senate Bill 540. If you are not sure who your Assembly representative is, go here.

While you’re at it, urge your Assembly representative to support a bill that will be debated and voted on in the lower house tomorrow that allows experimentation with innovative campaign finance reforms in local communities in Wisconsin. The Democracy Campaign has been working for such local option legislation for years.

Your action also is needed to urge legislators in both houses to give final approval to legislation that would cement in state law new rules approved in March by the state Government Accountability Board closing the “issue ad” loophole interest groups use to operate outside Wisconsin’s campaign finance laws and secretly influence state elections. To take action, go here.

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Weak payday lending bill OK’d
In other business yesterday, the Senate passed watered-down legislation dealing with payday lending. An amendment to limit the interest rates on cash advances and other forms of payday loans to no more than 36% was defeated.

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D.C. group’s gripe about protest earns them a second helping
Back in march, the Washington, D.C.-based group Citizens United accused the Democracy Campaign of trademark infringement over our protest of the U.S. Supreme Court’s election financing ruling in the case known as Citizens United v. Federal Election Commission. In retrospect, this all might have been more trouble for Citizens United than it was worth, as our latest Big Money Blog explains.