A bill is pending before Missouri Gov. Jay Nixon that would increase the fees that state-based banks could charge for short-term cash advances, which subsequently would allow them to compete with payday lenders. Nixon has not said whether he will sign or veto the legislation. Some consumer advocates worry that there would be no difference between a bank's cash-advance loan and a storefront business that offers quick cash. Some nationally chartered banks now offer cash-advance loans, usually only for established customers that regularly receive direct deposits. Missouri law already allows state-chartered banks to offer similar services, with fees capped at $25 or 5 percent of the loan; but for most banks, the amount is too low to offset the risk, said Bill Ratliff, executive vice president of the Missouri Bankers Association. Under the bill, passed in the House and Senate, banks could charge fees of up to $75 or 10 percent of the loan's value, whichever is less. A recent study by the Consumer Financial Protection Bureau found that the median amount borrowed by consumers through bank cash-advances was $180 for a 12-day period, with a typical fee of $10 per $100 borrowed, which is the equivalent of an annual percentage interest rate of 304 percent. In comparison, payday loans had a $350 median and 14-day duration, with a typical fee of $15 per $100 borrowed, or an APR of 322 percent.