Daily Archives: April 24, 2018

Missouri House Moves Meaningless Reform on Payday Lending Forward

Today the Missouri House Financial Institutions Committee passed a bill that purports to regulate payday lending in several ways – some of which appear to be beneficial to consumers. However, HB 2657 currently lacks the real regulatory changes the state of Missouri needs to protect its citizens. In fact, passage of this bill leaves Missouri far behind the regulation of all of our surrounding states. First, and foremost the bill modestly reduces interest limits from 75% to 35%. W ...