Petition on Interest Rates Approved
JEFFERSON CITY- The Missouri Secretary of State's office announced on Wednesday a petition relating to loans can now be circulated. The ballot title for the petition reads:
Shall the Missouri Constitution be amended to restrict the legislature's authority to set a minimum or maximum annual percentage rate on loans by allowing borrowers and lenders to agree, without any limits, on the cost of borrowing money?
The proposal is estimated to result in no direct costs or savings to state and local governmental entities.