Missouri senator to hold hearing for payday loan bill

Thursday, February 18, 2010 | 9:04 a.m. CST; updated 9:22 a.m. CDT, Monday, April 26, 2010

ST. LOUIS — A Missouri lawmaker will hold a hearing in his district Thursday night on payday loan legislation.

Democratic state Sen. Joe Keaveny of St. Louis said his bill is aimed at reforming the state's payday loan industry and protecting consumers. Keaveny's hearing was set for 7 p.m. at the Carpenter Branch public library.

He said his bill is similar to legislation sponsored by former U.S. Sen. Jim Talent of Missouri. That measure capped payday loan interest rates for military personnel and their families at 36 percent.

Democratic state Reps. Mike Colona of St. Louis and Mary Still of Columbia are sponsoring similar payday loan measures.


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