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Opponents of payday lenders held a gathering in Springfield yesterday to sound help for yearly caps on rates of interest for short-term loans.
Susan Schmalzbauer, the Faith Voices of Southwest Missouri Congregational Coordinator, said a bill within the legislature will make such loans more workable for borrowers.
вЂњMissouri Faith Voices supports Lynn MorrisвЂ™s bill to cap the price at 36%, all charges included, with all the APR at 36%,вЂќ said Schmalzbauer. вЂњWe know that protects our families.вЂќ