Lawmakers Vote to Override on Mo. Lending Measure

September 17, 2013
connectmidmissouri.com 
payday lending news
The Missouri Legislature has voted to override Gov. Jay Nixon's veto of a bill that would allow lenders to charge higher fees on certain short-term loans. The bill would raise the maximum fee from 5 percent to 10 percent on installment loans, which generally last at least four months. Lenders still could not charge more than $75. Nixon said that firms typically offering payday loans could use higher fees.









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