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House Opens the Door for Credit Card Companies

May 9, 1996
By: Conrad Jungmann
State Capital Bureau

Bring jobs back to Missouri. That's the message the House of Representatives sent to credit card companies when they passed a bill lifting percentage rate caps. Conrad Jungmann has that story from the state capital:

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A measure designed to lure credit card companies back to the state and keep retailers from moving was overwhelmingly passed by the House. Bill sponsor, Tim Harlan says the cap of 20 percent was out of sync with other states that have no ceiling. The bill, he says will not affect interest rates for the consumer:

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The measure will not compile interest as it heads to the governor's desk for final approval. From Jefferson City, I'm Conrad Jungmann.