Legislature will not overturn payday loan bill
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Legislature will not overturn payday loan bill

Date: September 5, 2014
By: Katie Hynes
State Capitol Bureau

Intro: 
Tougher regulations for payday loans and eliminating rollovers are not a priority for the Missouri Legislation this veto session.
RunTime:  0:40
OutCue:  SOC

Wrap: Governor Nixon vetoed the bill saying it did little to help borrowers and appeared to be in favor of payday loan industries. 

Southern Missouri Senator Mike Cunningham sponsored the bill that passed with bipartisan support, however it did not pass in the Senate with a two-thirds majority.

Cunningham admits Nixon's veto will stand.

 

Actuality:  CUNN1.WAV
Run Time:  00:07
Description: "The votes apparently are not there to override the veto so it will not be brought up. The governors going to get his way with it."

 
Cunningham compromised with Democrats to keep the bill from being brought up if payday lenders are barred from charging more than thirty-five percent per hundred dollars loaned.
 
Reporting from the state Capitol, I'm Katie Hynes.