Missouri: Payday loan battle at the ballot box

Mon, Nov 28 2011 — Source: St. Louis Post-Dispatch

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.

Read the story from the St. Louis Post Dispatch