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Campaign against payday loans continues

Campaign against payday loans continues

Petition aims to change Mo. law to cap interest rates

March 4th, 2012 in News

At the encouragement of a variety of religious leaders around Missouri, several dozen residents from St. Louis, Kansas City and other communities came to Jefferson City and the state Capitol last week, to lobby for changes in the laws allowing payday lenders to charge super-high interest rates.

Before leaving town, they traveled to Missouri Boulevard, and prayed outside a payday loan business.

Their purpose?

To encourage supporters to continue their initiative petition campaign, so voters in November might be able to cap at 36 percent the interest rates the payday loan industry can charge.

They also visited with lawmakers, seeking support for a law change even though the Legislature hasn't supported that goal in the past.