Back to Top

Good News to Kick off Your Weekend: McCreery Sponsors True Payday Loan Reform

Rep. Tracy McCreery filed a bill that outlines true reform to protect Missourians from predatory payday lenders. Her bill, backed by true reform advocates, will set the same cap on interest rates for payday and title loans as those established by Congress and then-Senator Jim Talent in 2006 for active military families.

Barbara L. Paulus, who leads the Economic Dignity Task Force for Metropolitan Congregations United out of St. Louis wrote in an op-ed published in the Post-Dispatch:

“The only true reform is Rep. Tracy McCreery's HB 820, which sets a cap on interest rates at 36 percent, the limit in place for payday and title loans to active military families as enacted by Congress in the Military Lending Act of 2006. If we want true reform in Missouri, HB 820 is the only answer.”

Thank you, Rep. McCreery for working to make a better Missouri. Sign on here as a citizen cosponsor of payday lending reform.