For those new to the issue:
Missourians for Responsible Lending is a real deal grassroots campaign to reform the Payday Loan Industry and limit the APR to 36%, down from the current 1900%.
The out-of-state bankers and lawyers that make up corporate opposition groups Missourians for Equal Credit Opportunity and Stand Up Missouri have been bringing out all the stops as they realize they're about to be reined in.
The most recent bit of trickery the loan sharks have practiced is writing up two new ballot initiatives themselves, that also "reform" Payday Loans. Here's exerpts from the St. Louis Beacon's article.
Read More »