These predatory lenders are the modern equivalent of loan sharking, typically preying on those who may or may not understand the fine print.
Faith, community, student and labor leaders today will rally in St. Louis, Kansas City and Jefferson City to show their outrage at being silenced by corporate interests and to chart a course for an economy that works for all Missourians in the months ahead.
The Missourians for Responsible Lending and Give Missourians a Raise campaigns today announced that they are suspending their legal challenges to the Secretary of State's rulings that petitions to end 400% interest rates on payday loans and raise the minimum wage did not qualify for the November ballot.
“Since beginning this campaign more than a year ago, we have faced an opposition unrestrained by money, morality, truth or concern for the economic dignity of our neighbors and family members,” said Rev. James Bryan, Treasurer or Missourians for Responsible Lending. “When lies and threats to pastors were unsuccessful, our leaders and volunteers were harassed in the streets. When stolen petitions did not deter us, we faced dishonest ad campaigns, fake petitions in the field and an interminable legal process. When the multi-million dollar effort to confuse and deceive voters did not work, our opposition chose to attack the entire initiative petition process.”