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JEFFERSON CITY, Mo. (AP) - Fees will be rising on some consumer loans under a law enacted when Missouri legislators overrode a veto by Governor Jay Nixon.
The fee increase will primarily affect smaller loans that are repaid over several months or years. It's not meant to affect payday loans, which can last no more than 31 days.
The measure doubles the origination fee that lenders can charge from 5 percent to 10 percent of the principal. But it leaves in place a $75 fee ceiling. The means lenders can charge the full 10 percent fee only on loans of up to $750 and can collect a few more dollars on loans of up to $1,500.
Lending industry lobbyists describe it as a minor change. But some consumer advocates don't like the new law.
JEFFERSON CITY, Mo. (AP) - Missouri's Republican-led Legislature put a priority on cutting taxes this year. But the same lawmakers who passed a $700 million income tax cut also approved numerous little-known fee increases.
One of those measures could increase fees on driver's licenses and vehicle registrations, costing Missourians almost $22 million annually.
Another bill would impose fees on mailed-in speeding traffic tickets, affecting an estimated 170,000 cases annually.
Missourians could pay more to get copies of their own medical records or court transcripts. Businesses could get charged more for certain Agriculture Department services. And court fees could rise in some places.
Although fees and taxes both take money from people, many Republican lawmakers have drawn a philosophical distinction. They say taxes are applied generally, and fees are charged only for specific services.
A report out today says that the St. Louis Convention and Visitor's Commission will have to pay $2 million of the Rams' lawyer's fees.
The story was originally reported by the St. Louis Business journal. The two sides met with an arbitrator earlier this year to determine the best plan to upgrade the Edwards Jones Dome. The Rams won that arbitration and according to the original lease, the side that won any arbitration would eligible for reimbursement to cover legal fees. The arbitrator settled on a reimbursement of $2 million.
The CVC is funded by taxpayers.