Protesters Rally Against Payday Loan Initiative
MDN Menu
MDN.ORG Mo. Digital News Missouri Digital News MDN.ORG: Mo. Digital News MDN.ORG: Missouri Digital News

Protesters Rally Against Payday Loan Initiative

Date: February 8, 2012
By: Elizabeth Hagedorn
State Capitol Bureau

Crowds outside the state Capitol chanted their opposition to a ballot measure that would cap interest rates on payday loans.
RunTime:  0:31
OutCue:  SOC


Actuality:  PAYDAY.WAV
Run Time:  00:03
Description: "Stand up Missouri, Stand up Missouri!"

"Decline to sign" was their message.  

The protesters said capping lending rates would make it harder for Missourians to get credit.

Actuality:  PROTEST1.WAV
Run Time:  00:08
Description: It's about having the freedom to choose whether or not you want to get a loan from somebody or if you can go into a bank. Because not everybody has the credit score to go into a bank and get one.
Supporters argue a cap would prevent lenders from charging excessive fees.
The November ballot initiative would cap lending rates at 36 percent.
From the state Capitol, I'm Elizabeth Hagedorn, Newsradio 1120 KMOX.

Missouri Digital News is produced by Missouri Digital News, Inc. -- a non profit organization of current and former journalists.