Critics challenge Mo. measure to limit payday loan interest
The proposed ballot measure would cap interest, fees and charges for payday and car title loans at 36 percent per year.
Critics of the proposal filed a lawsuit in the state Capitol's home of Cole County. The suit contends a ballot summary for the proposal is inadequate and unfair and that the cost estimate for the proposal does not address all the possible costs.
Wording approved for Mo. ballot measure limiting payday loans
A group of community and religious leaders is proposing a Missouri ballot measure that would effectively limit the cost of payday loans. The secretary of state's office on Tuesday approved the wording of a proposed ballot summary, allowing supporters to begin a petition drive to put the question on a statewide ballot.