>> happy holidays to everybody. great. good morning everybody. happy holidays. we are here today to announce the launch of a three-month state wide out woach check 'n go borrower who may be entitled to significant restitution and charge and fees they paid on their loans this program is among the terms of an agreement that my office that this offs nailed in 2000

search. that lawsuit charges check and do with a represent a bank scheme which skewed the annual interest rate of 36ers and in fact chex and go carry rates as high judge 400%. our cement requires check 'n go requires them to refunder 4.3 also million dollars but it only requires a recent effort to notify borrowers and it requires effort to locate borrowers and some may have moved and may ignore a letter from an claims administrator and that is impr-this outreach is so important and why we intend to work with community partners and leaders to make this three-month

thrive drive a success. now i'm very happy to be joined by a number of our community partners many of who cut short their holds plans to be here and i'll heap heap they are here today and i'll introns them in a moment but first the basic facts of the program and jibtd. all of the details are available on the website cal loan reyou fund.org. the claims period runs for 90 days. beginning tomorrow, the december the 28, through march the 28. completed forms must be post marked by the final date march 28 for the restitution this a place to california resident consumers only. and those that obtained installation loans from check 'n go between 2006 and june 2008.

sites include f d b e l.com and command loans.com. refunds are expect today range from a minimum of $20 to friction hundred dollars per valid claim. the claim form and all of the information that you would wanted in this program is available online at cal loan refund.organize. which hope the out roach efforts we are launching today for check 'n go matches the success we saw earlier this year with loan marred we settle and they are the same in partnership with many of the leaders today. we helped secure five-point pieive million dollars in refund for money mart barrowers reis city institution in that case averaged $500 per claim and are more than 800 claims were filed

and it was a tremendous success and we hope hope i check 'n go effort is just as successful. to maximize rest city tiges for every borrower who is involved. i would like to introduce a partner in our effort in the money mart case is michael the executive director of the san francisco interface counsel and michael treive vairian who's representing from the office fnltd empowerment and kristinee the california reinvestment corporation and laurel pew ma'am mack from californiafirst five and the mission economic development agency and finally, johnathan sagaa chose were the commission economic development agency i can't tell you how

important it is that this be a coordinated effort as many of you may be familiar in the money mart settlement we traveled you will and upand down the sate press confrontation in sacramento and reached ow to bars throughout the state of california to achieve an unprecedented level of success for a predatory lending effort and we would not have been able do that without the corporation of elected throughout the state and community leaders as well and we are hopeful that this will be a template for what wedo in this case and that we get a similar level of success to make sure had a money goes back to the people who are victim iressed and that they get the restitution that they deserve and i would like to introduce michael papist from the enter face-to-face 98 counsel because he was a big part in making sure we got our effort out to the 98

community and to make sure that borrowers who were vimsed got the restitution they deserved and we are happy he is cooperating in our effort for the next 90 days. >> p oop pennsylvania a s.-the san francisco enter fate counsel is absolutely indebted if you will forgive the pun to his city treasure her heira in this suspicious when this program started. we believe that the victims of predatory lending are sill the in in our pews and we work with faith-based organization to provide the safety yet and net and we are here today to commit ourselves again to the good work that

dennis is doing and in the past, we have used our technology network to reach out to the congregations and in turn, they are letting their congregg gant know, we are here, we are concerned and we are committed partners. >> thank you and once again that you to all of the community representatives here and treasurer jose sises narrows [spelling?] has been a wonderful partner and the bank on san francisco program is a great gram and gives some of our most vulnerable another place to go it a responsible lending program which helps folks get the assistance they need and deserve so so thank you very much for being here and i'm happy to take any questions that you may have.

[inaudible] >> instructor: in general, let me just -- in you find that pay day lending operations, oftentimes focus in some of our economically vulnerable communities to take advantage of those individuals who might not think they have any alternative but go to a pay day lending operation that to a have lending needs met. san francisco is actually has some of the highest density of pay day lenders in the country and two largest operation are monday mart loan mart and check 'n go and they are the two largest pay day lending operation in the country and they have locations up and down the west coast, seattle is a very densely populated with pay day lending populations san

francisco is as well but there are hot spots throughout the state of california where pay day lenders trying los angeles, valley. the fresno. and unfortunately, many times pay day lending operations take advantage of those economically vulnerable who think that they don't have another alternative evaporation sable it them and in these very tough economic times we know that some families are living pay check to pay check and oftentimes they are working poor and they are individuals who are under employed or under employed pa they depend on that pay check every week to nurse their families and so in very difficult economic times mayday lending operations thrive and they take advantage dispawnts now there are some that play by the rules but in this circumstances we found that check 'n go was not playing by the rules and adhering to california's interest rates

limits and we are partnering with a bank to get around those limit and is so san francisco is a hot spot, central valley and we are going to work with focuses throughout the state to make sure that folks get the restitutions that they deserve and that is why it's so important that we partner with focus up and down the state and now by example.ion hundred. there ended up beingion hundred valid claims that were paid in terms of people that were vimsed in the thousand and is so it's very important that we debate the word ow to make sure we get as many people to respond as much as possible to get the rest restitution that they deserve. >> so can you explain what check 'n go did wrong that was a violation of the rules or law or what are they doing now that will be different, well they partnered with an outof state bank to seasonally say that we

are no longer subject to the limits and 36 apr that is set in article california law and they partnered with an out-of-state bank and said, we are subject to federal segregation gleyings and is think charged an apr of four 100% and so they have agreed to abide by california's limits they have discontinued that relationship with the out-of-state bank and as they also have established this settlement fund to repay eligible bars to get restitution until the amounts that i described. so if you go door loan do you have a comparison to give us an idea. average income or middle income do you have a concrete example of something like that to put

dollars and cents of how much they were screwed? i can testimony you this it's har hard to come up with a timcal case but what you say because the interest rates being charged people could not get the principal paid down or the interest rate paid down because the number accumulating continued to glow and what you saw in that circumstances is not only and people have an inability to pay loans off they continued to go out and get more loans to keep themselves a flowed. in san francisco --. >> treasure assist narrows has a program called bank on san francisco which, is designed to provide financial resources to the working poor and others who oftentimes fall victim to pay day lending operations. i'm

not totally familiar with how the program works if there is something here that could talk about it, i'm happy to have them educate folks about what is available to them but bank on san francisco is something that started here by has been modeled in other communities as well. my name is mar co and i'm here on behalf of treasure sises narrows and our office began a program to help people move away from check cashers and pay day lender and is we are happy to partner with assist narrows here because we do a program called pay day plus s s which, is a program collaborative of credit unions that provide a loan between 50 there is to $500 with an interest rate of no more than 18% apr that they get to pay back in six months to a year and whereas, traditional lenders

charge a higher apr and they have to pay it back by the next pay period. if you are interested a visit us at pay day will you state or find free ed cigs counseling alternative to pay day cashers and lender and is check state wide as well. and if you are interested in learning more about our programs or offices you can visit our website to see the array of services at s f or g. mark cor calf marine. a ra r i n and our website is www.s f s e.org. >> would there be any reason that anybody would neat tneed go to a pay day store. yeah, many check cashers and pay day lenders combined

out number mc donald and starbucks many there are banks and credit unions in san francisco and so the volume that they provide is difficult to keep up with and which, is why the treasurer found out efforts to work with the attorney and to provide eferlts for folk and is as you take away one, there is a lot of people who may be good canned details and who may not be able to find a good alternative in their neighborhood and so a lot of focus who have good increase but may be struggling to make a next payment they take out $300 and pay $45 in fee and is then find had a they cannot pay that loan off in the next two weeks that is required and so they find themselves repeating that system from one pay day lender to another ten times and you will ultimately they will pay the $800 for the initial $300

finding themselves in a bad situation and with our credit you know partners we vid people an alternative that consolid dates an alternative where they can build their credit and find a better alternative so that in the future they don't have to turn to a pay day lender. the scenario you gave is if they are doing it legally so it can be worse. >> the pay day leaped lenders that we can taking about today are charging four 100% apr and the person walked in a signs a check for $300 and aunts that person in crisis cannot pay it offer in three weeks and then they tell them to go across the street and take out another loan to pay them back and so this is

done and a lot of folks find themselves in that situation and don't have an alternative and the big sir is that there is only four-five credit unions in san francisco and 500 credit unions nationally that offer a pay day loan alternative and people don't know how to find those alternative and is so part of our program is to help people find out about those alternatives. >> we are talking about the percentage four 100% and 36% being what the standard should be with check 'n go and when when they partnered with a state organization when you are talking about organizations here that by standard practice what is the breakdown? no they are not standard four 100% and you are limited 36% apr and anybody doing

anymore is breaking the law they partner with an out-of-state bank to get to that number. >> do you have to live in san francisco to take advantage of pay days plus? you don't have to live in san francisco but if you get connected -- ask there anything that -- [inaudible] i'm not going toll you our marketing secrets here but i'm going to tell you the importance of that was to get the word out and to -- whenever we however which need to get the wore word out we are going to it because as i said, earlier, the settlement calls for reasonable efforts. reason events are open to interpretation. so, that is why it's incredible important that we partner with these folks standing up here to get the

world out and the calling may be video was very successful in what it was intended to do and if you look at the spike, in claimants that we had file after that went out it got attention, it got the word out. it forced people to look at the information that was online or call our hot lines and we are going to what we need do to get the word out to make sure that the maximum inform no. of people who are entitle today a refund will get one and so i don't have a set plan at this point but i'm going to travel up and down the state to get the word out just like i did in the money mart case and hopefully we are going to be just as successful if not normore than we were last time, so if you can only dish out 2 million to get -- more this year. >> no, similar to money mart if they would have hit their

maximum that number would have been up to me to decide where to goes to various none profits or folks involved in financial literacy and quite frankly, i didn't want that responsibility i wanted the money go back to the individuals who needed to get it i much rather see the money go to them than me decide where that money goes and same in this case. do you think there are -- house u.s. thousands? >> and this is people who got loans online, and so if you are talking about going in and get ago exploan going back across the street --. >> that is right and that was the primary means of their marketing their program it differented a little bit from the money mart scenario whereas, that, it wasn't just focused on online borrowers there were individuals going into stores this is a little bit different and so you have to tailor it to each one.

and online it was also rolled over and snow bald. >> i believe that to be true. is this check 'n go the umbrella and then they have several marketing schemes? >> these are the websites that we have established and that are there to enable people to get as much information as they possibly can and that is the website that we have highlight and had there is a number of websites. do they admitted wrong doing. >> no. i do not comment on my settlement notion but that is not uncommon in settlements had a we reach and the important thing is that people get the money they are entitled to last question. [inaudible] . >> did we have that? we can get back to you on that. how about just one last

question? at christmas time a lot of families getting gifts do they feel -- [inaudible] taking money from them. >> i'll tell that you we have a i don't like to characterize individuals in pejorative terms but i do take pride this the work that this office does along side our other elected officials and community partners especially at this time of year to bring some financial relief to folks that are strugglings that is rewarding and that is why we are in this business and this is why we have other elect elected officials in this for all the trucestic reasonses do good and make a difference in people's lives and this is irrespective of when you accomplish it but, i'll say that

it's an added sweetener as it were to top announced in the holiday time when we know there are folks that are struggling and blink a little bit of relief to them and on the path to financial stability that is a rewarding thing. thank you very much. >> i think it ae's public and private property. i'm against graffiti. >> who can get it out the most who can be noticed the most.

>> i i've seen seniors doing graffiti. >> the city is art, other people who have their names tag -- >> [inaudible] our unit there are 2 sections we are doing one is abating and others are notice of violation to private property. all the utility boxes in public right-of-way we abate. >> we abate calls that come within 48 hours. >> we are a small group in g f graffiti. we don't have enough help. >> i have a group in town down and china town and the north

tunnel. [inaudible] the graffiti we abate everything is coming up to the areas now. >> i'm willing to take it on. i think -- >> you are telling me you are ready for this? >> i think so. >> okay. >> there you go. >> all right. >> all right. >> ready to do it. let's go. >> want to get the gray signses this over here and the garbage can and normally we don't do private property since it's on the corridor route you can come with me we will use black. >> we had a lot of changes in the graffiti unit. we do private property if someone moved we remove it and send it to the attorney's office and they take appropriate action. >> damage their property there.

it's important to write the color in case they want to say what part of our house you abated the graffiti on. >> using your safety glasses the gloves. >> you got it. >> you know some places we gashi, people appreciate that. you know, a lot of timeses they say, thank you. >> the time where it's visible. a lot of people put it on the ground. >> i like when tourists come and say, you do this for your

city and you get paid for that? >> we use the [inaudible] for the holes and the retaining walls. [inaudible]. white on the fire hydrants. fire box red for the fire boxes. our brown for the pg and e poles. >> we are not painters we do our best. >> i'm assuming it has to do with gang activity. >> if it's territorial i mind. >> in case it's gang related and they are marking our territory i would like to paint it over. >> anything with numbers like x

iv or x 13 west side mob and the bay view those are gang related. with gang related or profanity we will abait it as soon as possible. >> i consider it an art. there are circles of people that form around it whether or not they should ruin public property. >> this is art work i'm for it. unless it's on someone's property and they don't want it there. judge kids with silver paint expressing their ego needs doesn't belong on our property. >> graffiti is when you don't have permission to write anything on their property. >> eighth street is part of your regular rout? >> yes. >> everyday. >> eighth street.

divisidero street. irving street. every block they going through they paint 3 or 4 streets in the block the poles the utility boxes, mailbox. >> thank you. >> okay. >> put the drop cloth. come on around. >> there you go. force for we have to remember we are not painters we abate graffiti. we are abaters not painters. get that out of the way and keep moving.