The Missoula debate
September 30, 2010 | Montana | Comments (0)From the story:
The debate over whether to cap interest rates for payday loans continued in Missoula Tuesday night. The League of Women Voters held a forum at the Missoula Public Library for both sides to talk about the controversial ballot initiative
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“In today’s economy, when banks and other financial institutions are charging up to $35 to bounce a $5 check, it makes the $15 we charge on a $100 loan look pretty small,” said Bernard Harrington, an industry spokesperson who owns several payday loan stores.
Whether I-164 actually goes before voters in November will be decided in the courtroom. Opponents sued the state in an attempt to remove the measure from the ballot. They claim supporters used deceptive practices to gather signatures for the initiative.
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