Missouri: Payday loan battle at the ballot box
A battle looms over how much lenders can charge for payday loans in Missouri ”” and it promises to be an expensive one. A coalition of religious groups and civic organizations have begun collecting signatures to get a measure on the state’s 2012 ballot that would limit the cost of short-term loans. Voters would then have the option of capping annual interest rates on those loans ”” which would include payday and car title loans ”” at 36 percent.