Missouri governor vetoes pay day loan legislation The Democratic governor stated it absolutely was more straightforward to keep what the law states because it is, because of the hopes of pressing
JEFFERSON CITY, Mo. – Gov. Jay Nixon vetoed legislation re-writing Missouri’s pay day loan rules Thursday, explaining the newly proposed restrictions being an industry-backed “sham” that fell in short supply of “true reform.”
The Democratic governor stated it had been safer to keep what the law states as it’s, using the hopes of pressing for lots more strict regulations in the future years, rather than enact a modest modification passed away by the Republican-led Legislature.
“Missourians want significant lending that is payday, perhaps not just a sham work at reform enabling such predatory practices to keep,” Nixon said in a written declaration announcing the veto. Continue reading