A Ballot Initiative That Would Shortchange Missourians
By now, most Missourians have heard about the petition for the controversial “Payday Ballot Initiative,” which seeks to cap interest rates on loans made in Missouri at 36 percent. Proponents of the initiative spent the spring gathering signatures on a petition to put this seemingly innocuous initiative on the November ballot. So why is the measure controversial?
What the petition did not say was that it actually targets all small-dollar loans in Missouri—including safe and responsible traditional installment loans. Nor did the petition say what a financial catastrophe it would create for consumers and small businesses if the initiative is adopted into law.
Stand Up Missouri has been established to educate the public about the potential consequences of this initiative and the drastic impact it would have on Missouri’s individual citizens and economy if the initiative goes on the ballot in November and is passed. We invite you to explore our website and learn more about this vital issue.
Stand Up Missouri does not represent payday lending or payday interests. The coalition does not accept funding from any organization associated with payday lending and strictly represents the interests of traditional consumer installment lenders.