There were 2.43 million payday loans made in Missouri in 2010. Under current Missouri law, short-term, small-dollar loans can be subject to an annual percentage rate of 1,950 percent. According to the Missouri Department of Finance’s annual report, the average APR is 445 percent.
GUEST COMMENTARY: Predatory payday loan industry needs reform
Monday, March 21, 2011 | 11:49 a.m. CDT;
updated 9:57 p.m. CDT, Monday, March 21, 2011
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