SE Atlanta News

Georgia Watch, a non-profit organization focused on financial and quality of life issues, has recognized Representative Josh Bonner as the 2023 Consumer Champion for Fair Lending. This honor acknowledges Bonner's dedication to protecting Georgians from predatory car title lending. In particular, Bonner's proposed legislation, House Bill 342, aims to regulate the title pawn industry and ensure fairness and oversight in lending practices across the state.

The award was presented to Representative Bonner by Georgia Watch, which has been advocating for consumer protection since its establishment in 2002. The organization provides education and advocacy to empower consumers and ensure fair representation, especially for vulnerable populations. Georgia Watch remains nonpartisan and actively engages with various stakeholders to prioritize consumer protection.

In a press release by the Georgia General Assembly, Representative Bonner expressed his gratitude for receiving this distinguished award. He stated, "Protecting Georgians from falling into a cycle of debt has been a long-standing priority of mine. I am proud of the work organizations like Georgia Watch are doing to help bring awareness to this issue." Bonner also expressed his anticipation for the passage of House Bill 342 during the upcoming 2024 legislative session.

House Bill 342, as described in the Georgia General Assembly press release, aims to place the title pawn sector under the supervision of the Department of Banking and Finance. This move would facilitate increased regulatory control and protect consumers from financial exploitation. The proposed legislation suggests that individuals can only engage in the title loan business in Georgia if they possess a license from the Nationwide Multistate Licensing System and Registry (NMLS). Loans made by unlicensed individuals would be rendered void, and any associated rights to collect money would be forfeited. The bill is set for potential consideration during the subsequent 2024 legislative session.

Representative Josh Bonner, who was elected in 2016, serves as Chairman of the Defense & Veterans Affairs Committee and represents District 73, which encompasses parts of Coweta and Fayette counties.

The recognition of Representative Bonner as the 2023 Consumer Champion for Fair Lending highlights his commitment to combating predatory lending and introducing regulatory legislation to protect Georgians from financial exploitation. Through his proposed House Bill 342, Bonner aims to ensure fairness and oversight in the title pawn industry, ultimately creating a Georgia that prioritizes consumer protection.