Payday loan reform proponents submit signatures for ballot initiative

Word and Way

JEFFERSON CITY -- Proponents of a Nov. 4 ballot initiative to cap the annual percentage rate on short-term loans delivered voter signatures with just 20 minutes to spare May 6.

They delivered approximately 180,000 signatures from registered Missouri voters to Secretary of State Robin Carnahan's office at about 4:40 p.m. Although they made their 5 p.m. deadline, they still face a battle challenging the legality of signatures under language struck down by a Cole County Circuit Court judge.

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