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Advocates worry bill will undo lending that is payday

LIBERTY, Mo. — Payday loans carry an interest that is average of almost 400 per cent, producing financial obligation traps for customers.

It is why Liberty voters decided in November to pass through limitations on loan providers. Nevertheless, a bill on its method to Gov. Mike Parson’s desk could undo some of these limitations, in accordance with some advocates.

The Liberty ballot measure emerged from a petition arranged by the Northland Justice Coalition. Continue reading