Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

Online pharmacy:fesmag.com/tem

Have you a sex problem? Please visit our site:fesmag.com/medic

Site map
 
 
 

JEFFERSON CITY, Mo. (AP) — Missouri consumers may soon find it easier to turn to their local banks to get a short-term loan until their next paycheck.

Governor Jay Nixon signed legislation Friday that will double or triple the fees that Missouri-chartered banks can charge for short-term cash advances.

Bank officials have said that the state's current maximum-allowed fees of $25 or 5 percent of a loan don't provide enough financial incentive for many banks to offer the short-term loans. The bill raises the fee cap to $75 or 10 percent of a loan's value.

The legislation could help banks compete with payday lenders, but it faced no opposition from the payday loan industry.

Some consumer advocates raised concerns about the bill, but only after it passed.

Published in Local News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
GAUGE OF US ECONOMY UP FOR 3RD STRAIGHT MONTH

GAUGE OF US ECONOMY UP FOR 3RD STRAIGHT MONTH

WASHINGTON (AP) — A measure of the U.S. economy's health rose in March for the third consecutive month, a sign of stronger growth after harsh winter weather caused the economy's...

MARATHON WATCH: 'WE'RE TAKING BACK OUR RACE'

MARATHON WATCH: 'WE'RE TAKING BACK OUR RACE'

A look at the 118th running of the Boston Marathon. TAKING BACK RACE: The elite men and first wave of amateur runners have started. Boston Marathon race director Dave Mc...

SKOREAN PRESIDENT: FERRY CREW ACTIONS 'MURDEROUS'

SKOREAN PRESIDENT: FERRY CREW ACTIONS 'MURDEROUS'

JINDO, South Korea (AP) — South Korean President Park Geun-hye said Monday that the captain and some crew members of the sunken ferry committed "unforgivable, murderous behavior...

Rev. Joseph Jiang Released On Bail

 A 31-year-old St. Louis priest accused of sexually abusing a grade school student is free on bail.   The Rev. Joseph Jiang was released on Friday from the cit...

Ameren Missouri Rates Questioned

JEFFERSON CITY, Mo. (AP) - Missouri utility regulators plan to hear evidence in June on a pair of cases challenging the electricity rates charged by Ameren Missouri.   ...

Lobbyists Woo Missouri Lawmakers

ST. LOUIS (AP) - Industry and special interest groups have spent more than $200,000 in the last three years on trips for Missouri lawmakers.   Records reviewed by T...

Missouri Criminal Code Subject To Overhaul

JEFFERSON CITY, Mo. (AP) - Missouri lawmakers are poised to send Gov. Jay Nixon legislation to overhaul the state's criminal laws. House Majority Leader John Diehl says the ...

Missouri House Will Debate Student Transfer Program

JEFFERSON CITY, Mo. (AP) - Missouri House members plan to advance legislation that seeks to address a student transfer law requiring unaccredited school systems to pay for stude...

© 2013 KTRS All Rights Reserved