More from the lovely state of Montana on Initiative 164 as November 2 approaches.

For all the voters out there, you should know that a 36% rate cap on a two-week payday loan would result in the elimination of an affordable credit option for consumers.   At a 36% APR, the total fee charged on a $100, two-week advance would be $1.38.  Payday lenders could not cover the cost of originating a loan, let alone meeting employee payroll and benefits and other fixed business expenses.  Just saying…

See full article in the Great Falls Tribune here.