"First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi

Payday Loan Opponents Upset Group Advocating for Even Higher Interest Rate Caps

March 16th, 2012 by Mark Truman · No Comments

The liberals have been on a mission lately to squelch people’s free speech rights. First Rush Limbaugh and know this:

“We know that if we get enough signatures, and we get on the ballot that we’re going to win,” said Molly Fleming-Pierre of Communities Creating Opportunities, the group behind the interest-rate cap petition. “We know that voters in Missouri are sick and tired of triple-digit interest rates.”

But Fleming-Pierre and other say that opponents of the measure are working to confuse voters with similar-sounding petitions that would, in fact, limit the ability of the state to regulate the payday loan industry. The first petition would cap interest rates at 360 percent.

“We think that’s a major attempt to confuse voters, because we’re trying to cap them at 36 percent, not 360 percent,” said Fleming-Pierre. “But as a voter, if you read that quickly you might not notice.”

A spokesman for Missourians for Equal Credit Opportunity in St. Louis told FOX 4 that his group isn’t trying to confuse voters, saying that their petitions are just as legitimate as their opponents. Read more…

WTF??? They’re angry because another group is trying to cap the interest rate 10 times more than they are?

Related:

Will Big Banks Fill The Payday Loan Gap?

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