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The Missouri Senate passes a bill reducing price gauging by payday lenders

May 14, 2001
By: Michelle Wirth
State Capital Bureau

Price gauging by payday and car title lenders would be more difficult under a bill that cleared Missouri Senate Monday. Michelle Wirth has more from Jefferson City.

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The bill limits the fees small loan lenders can charge customers. St. Louis Senator Anita Yeckel says the bill is aimed at protecting borrowers.

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Contents: This bill caps the number of times that a payday loan can be rolled over, that saves the borrower money.

If the bill receives final passage from the House, fees at the time of borrowing could not exceed fifty dollars for loans under $500. From Jefferson City, I'm Michelle Wirth.