Missouri Cash Advance Initiative (2020)

Missouri Cash Advance Initiative (2020)

instead of Ballot
This measure had not been wear an election ballot

The Missouri cash advance Initiative would not result in the November 2012 ballot within the state of Missouri being a state statute that is initiated.

The proposed measure ended up being sponsored with a team called Missourian’s for Responsible Living. 1

A complete of 3 effort petitions had been authorized for petition blood supply. 2


  • 1 Text of measure
  • 2 Background
  • 3 Help
    • 3.1 Tactics and techniques
  • 4 Opposition
  • 5 Lawsuits
    • 5.1 John Prentzler v. Missouri Secretary of State, et al.
    • 5.2 Post-disqualification lawsuit
  • 6 way to the ballot
    • 6.1 process that is initiative
  • 7 See additionally
    • 7.1 Articles
  • https://paydayloansmichigan.org/

  • 8 External links
  • 9 extra reading
    • 9.1 Editorials
  • 10 Footnotes

Text of measure

The ballot name for the petition read: 2

Shall Missouri legislation be amended to restrict the rate that is annual of, costs, and finance costs for payday, title, installment, and credit rating loans, unless the events agree otherwise on paper, and prohibit such loan providers from utilizing other deals to prevent the price limitation?

The proposition is calculated to bring about no direct expenses or cost savings to mention and neighborhood government entities.


Pay day loans were generally speaking a minimal, solitary re re payment loan that customers paid back whenever their next paycheck ended up being gotten. Based on reports, loan quantities often ranged from $100-$500. 3

The Missouri Division of Finance stated that this year there have been a projected 1,040 loan that is payday and 2.43 million payday advances when you look at the state of Missouri. 3

A 2007 research by hawaii unit discovered that of 3,700 borrowers, the normal age ended up being 43 and also the typical earnings ended up being about $24,000. 3


The measure had been sustained by spiritual teams and organizations that are civic to news reports. The PAC meant for the measure had been called Missourians for accountable Lending. In accordance with news reports, the PAC raised $50,000 and spent $10,000. 4

Tactics and techniques

On January 28, 2012 Missourians for accountable Lending and provide Missourians A Raise, an organization circulating petitions for the 2012 effort to boost their state’s minimum wage, kicked from the two effort petition campaigns at a joint occasion during the Boone County Commission Chambers. 5


  • The measure ended up being compared with a Kansas City nonprofit called Missourians for accountable federal Government. In accordance with news reports, the combined team has added $600,000 up to a committee in opposition for the measure. 4
  • Missourians for Equal Credit chance has also been from the initiative.
  • Remain true Missouri, a coalition that is nonpartisan represented customers, companies, civic teams, and faith-based businesses, established a campaign work in opposition of this proposed initiative on December 7, 2011. “Missourians are increasingly being expected to signal a petition for a ballot initiative that could cap lending rates. Whilst the effort has been reported as an endeavor to safeguard customers from pay day loans, it might actually limit usage of all tiny loans, including useful old-fashioned customer installment loans. These conventional loans assist people and families obtain access to safe and clear credit in a method that permits them to protect their economic safety,” stated Tom Hudgins, CEO and Chairman of operate Missouri. 6
  • Missouri GovernorJay Nixon opposed the initiative, stating: “all sorts of things I don’t help increasing fees on food as well as other critical items that families require. Making families spend more for bread and milk does not look like a solid advance for the economy.” 7


See additionally: selection of ballot measure legal actions in 2012 and 2012 ballot measure litigation

2012 measure lawsuits
By state
Arizona • Arkansas • Colorado • Florida • Maryland Michigan • Massachusetts • Minnesota Missouri • Montana • Nevada North Dakota • Ohio • Oklahoma Oregon • Rhode Island
By lawsuit type
Ballot text Campaign contributions Constitutionality Motivation of sponsors Petitioner residency Post-certification elimination Single-subject rule Signature challenges Initiative procedure