Post ID 33062

A peek inside cash advance industry battle to help keep interest limit off ballot

Supporters for the ballot effort to cap the rate that is annual of at 36 per cent rally during the entry of the Kansas City payday loan provider in Sept. 2012. Picture credit: Communities Producing Possibility

The Reverend Joseph Forbes of Kansas City watches while an initiative is signed by a man to cap interest levels on payday advances. Picture credit: Jonathan Bell

That is component certainly one of a set on what high-cost lenders beat straight back a Missouri ballot effort that could have capped the annual price of payday and comparable loans at 36 per cent.

Given that Rev. Susan McCann endured outside a general public collection in Springfield, Mo., just last year, she did her better to persuade passers-by to signal an effort to ban high-cost payday advances. (more…)