Protesters Rally Against Payday Loan Initiative
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Protesters Rally Against Payday Loan Initiative

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

Intro: 
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

Wrap: 

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.