payday lenders

St. Louis on the Air
4:40 pm
Tue August 6, 2013

Payday Loan Industry Under Scrutiny, Mo. Opponents Renew Effort To Cap Interest Rates

A group of community and religious leaders is proposing a Missouri ballot measure that would effectively limit the cost of payday loans.
flickr/taberandrew

Opponents of payday loans say extremely high interest rates and quick turn-around sink people into a never-ending cycle of debt. Those in favor of the loans say they are providing a necessary service by offering loans to people who otherwise would not have access to them.

An investigative series by reporter Paul Kiel of ProPublica is shedding light on the issue.

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November ballot initiatives
12:02 pm
Tue August 21, 2012

Court upholds language on local control measure

(via Flickr/s_falkow)

A Missouri appeals court has ruled that language used to summarize a ballot proposal giving St. Louis city  control of its police department is fair.

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Morning round-up
9:39 am
Tue February 7, 2012

Morning headlines: February 7, 2012

Missourians who take out payday loans could get more time to pay them off under legislation proposed by a state senator.
Flickr/rinkjustic

More time to pay off payday loans under proposed

Payday loans are unsecured loans of $500 or less that must be paid off within 31 days.  Sen. John Lamping, a St. Louis County Republican, told a Senate committee Monday that people should get at least 90 days to pay off those loans. The bill would also make it illegal for payday lenders to roll over or extend loans beyond 90 days.

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