Faith leaders protest pay day loans.
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Faith leaders protest pay day loans.

Date: February 28, 2012
By: Paige Hornor
State Capitol Bureau
Links: HB 1294

Intro: 
Faith leaders are saying high interest rate loans are against their religions.
RunTime:  0:41
OutCue:  SOC

Wrap: 

Actuality:  PAYDAYC.WAV
Run Time:  00:03
Description: "It is the right and just thing to do...Amen!"

That's how members of Missourians for Responsible Lending feel about reducing loan rates.

They want to cap the rates at 36 percent saying it is against God's will to neglect the poor.

Columbia Democratic Representative Mary Still says this is an issue she has been working on for three years.

Actuality:  STILL.WAV
Run Time:  00:11
Description: "This is a bi-partisan issue throughout the state, everywhere except Jefferson City and the reason it isn't bi-partisan here is because of campaign contributions."

Still says she hopes an initiative petition capping interest at 36 percent will have enough signatures to be on the ballot. 

Reporting from the state Capitol, I'm Paige Hornor.

  

Intro: 
Religious leaders gathered at the Capitol to protest pay day loans.
RunTime:  0:38
OutCue:  SOC

Wrap: They say the high interest rates are hurting the poor and going against the teachings of the Gospel.

The visit was prompted by threatening letters from a Texas law firm.

Father Richard Creason of Holy Trinity Catholic Church in St. Louis received one of the letters that said he would be violating Missouri law, if he submits an initiative petition.

Actuality:  CREASON3.WAV
Run Time:  00:07
Description: "They said we could lose our 501 tax-exempt status and that is not true."

Creason and other faith leaders hope to reach 900,000 signatures on an initiative petition to get the 36 percent cap on the ballot.

Reporting from the state Capitol, I'm Paige Hornor.

Intro: 
Faith leaders rallied at the Capitol in protest of pay day loans.
RunTime:  0:42
OutCue:  SOC

Wrap: 

Actuality:  PAYDAYC.WAV
Run Time:  00:03
Description: "It is the right and just thing to do...Amen!"

That's what members of Missourians for Responsible Lending are saying about capping pay day loan interest at 36 percent.

They believe high interest rates are immoral and hurting the poor.

Columbia Democratic Representative Mary Still says she hopes an initiative petition will get the 900,000 signatures it needs to be put on the ballot.

She says if the measure is voted on, it will pass.

Actuality:  STILL2.WAV
Run Time:  00:10
Description: "Throughout my travels, at every hearing, I have never heard one person support these predatory lending practices other than the lendors themselves."

Still has been working to get loans capped for the past three years.

Reporting from the state Capitol, I'm Paige Hornor.


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