Crowd at the Capitol Rallies Against Payday Loan Initiative
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Crowd at the Capitol Rallies Against Payday Loan Initiative

Date: February 8, 2012
By: Elizabeth Hagedorn
State Capitol Bureau

Crowds outside the state Capitol chanted their opposition to a ballot measure capping interest rates on payday loans.
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Actuality:  PAYDAY.WAV
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Description: "Stand up Missouri, Stand up Missouri!"

"Decline to sign" was their message.  

The protesters said capping lending rates would make it harder for Missourians to get credit.

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Description: It's about having the freedom to choose whether or not you want to get a loan from somebody or if you can go into a bank. Because not everybody has the credit score to go into a bank and get one.
Supporters argue the restrictuions would prevent lenders from charging excessive fees
The November ballot initiative would cap lending rates at 36 percent.
From the state Capitol, I'm Elizabeth Hagedorn, Newsradio 1120 KMOX.

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