Petition to Cap Payday Loan Interests

7 years 7 months 1 week ago Wednesday, August 10 2011 Aug 10, 2011 Wednesday, August 10, 2011 2:16:00 PM CDT August 10, 2011 in News
By: Bianca Aaron
loading

COLUMBIA - Missourians for Responsible Lending continued working on Wednesday, toward a petition to place a cap on interest rates for payday and car title loans.

The secretary of state's office approved the wording of the group's proposed ballot on Tuesday. The approval allows the group to start gathering signitures for a petition to have Missourians vote on the cap in November 2012.

The organization's treasurer, Jim Bryan, said the petition is an effort to caution Missourians about avoiding long-term risks of getting in financial binds, and to urge businesses that give payday and car title loans to lower interest rates.

"Don't look for an easy way," Bryan suggested to potential loan customers. "Don't spend money you don't have, read the fine print, stay away from payday loans."

Kelsie Smith, on Missouri-dweller, said she's careful about taking out loans.

"My reservations on taking out loans period," Smith said, "is just the trap they set for [you]. You have to pay this much as toon as possible."

Critics of the petition are concerned with the protection of Missourian's financial freedom. Payday loan-issuers have yet to comment on the petition and the interest cap.

More News

Grid
List
COLUMBIA – Incumbent Mayor Brian Treece and his opponent Chris Kelly have been squaring off over money in advance of... More >>
2 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 6:34:00 PM CDT March 18, 2019 in Target 8
JEFFERSON CITY - A priest at the Immaculate Conception Catholic Church has been removed after accusations that he violated boundaries... More >>
4 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 4:58:00 PM CDT March 18, 2019 in News
GLASGOW - Flooding has begun in the Missouri River from runoff of water in neighboring states. The midwest snow... More >>
5 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 3:26:00 PM CDT March 18, 2019 in News
COLUMBIA - Court documents allege Kyle McClain of Moberly fraudulently sold insurance plans to clients of the Central Pantry under... More >>
6 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 2:56:00 PM CDT March 18, 2019 in News
PETTIS CO. - The Pettis County Sheriff's Department is saying escaped fugitive Travis Davis is back in mid-Missouri. Pettis... More >>
8 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 12:28:00 PM CDT March 18, 2019 in News
CALLAWAY COUNTY - Carl DeBrodie's family continues to call for justice two years after their loved one's death. On... More >>
9 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 11:51:00 AM CDT March 18, 2019 in News
ST. LOUIS (AP) — St. Louis police are investigating several shooting scenes after an unusually violent day, even for... More >>
10 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 10:40:00 AM CDT March 18, 2019 in News
KANSAS CITY, Mo. (AP) — Hundreds of homes have flooded in several Midwestern states after rivers breached at least... More >>
11 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 9:13:00 AM CDT March 18, 2019 in News
CENTRALIA - The Lady Panthers Softball Team slid into success at the end of the season with some off-field accolades.... More >>
12 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 8:45:00 AM CDT March 18, 2019 in Sports
JEFFERSON CITY – The Missouri state capitol is going to be a lot quieter this week with lawmakers' spring break... More >>
14 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 6:24:00 AM CDT March 18, 2019 in Top Stories
BOONE COUNTY - Boone County will soon turn 200 years old, and county commissioners are working on a way to... More >>
15 hours ago Monday, March 18 2019 Mar 18, 2019 Monday, March 18, 2019 5:16:00 AM CDT March 18, 2019 in News
MARIES COUNTY - A 13-year-old girl died in a house fire Sunday in Maries County, according to a Facebook post... More >>
23 hours ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 9:10:00 PM CDT March 17, 2019 in News
COLUMBIA - The Columbia Improvement District is offering a grant incentive to downtown restaurants that would eliminate messy grease bins... More >>
1 day ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 5:42:00 PM CDT March 17, 2019 in News
COLUMBIA - Yoga Gives-CoMo held its monthly charity yoga event Sunday afternoon in collaboration with Logboat Brewing Co. This... More >>
1 day ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 4:03:00 PM CDT March 17, 2019 in News
AUDRAIN COUNTY - A family is forced to move on after a fire destroyed their home of 32 years Saturday... More >>
1 day ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 3:26:00 PM CDT March 17, 2019 in News
KANSAS CITY (AP) — Police in Kansas City, Missouri, are investigating a stabbing death at a hotel. The Kansas... More >>
1 day ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 1:59:00 PM CDT March 17, 2019 in News
ST. JOSEPH (AP) - As rivers and creeks in flooded eastern Nebraska and western Iowa crest Saturday, officials have begun... More >>
1 day ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 11:17:00 AM CDT March 17, 2019 in News
KANSAS CITY, Mo. (AP) — Three men have been sentenced this week for the kidnapping and torture of a... More >>
1 day ago Sunday, March 17 2019 Mar 17, 2019 Sunday, March 17, 2019 9:03:00 AM CDT March 17, 2019 in News
Columbia, MO
Broken Clouds 45°
9pm 42°
10pm 40°
11pm 39°
12am 38°