Judge upholds summary for proposed Missouri initiative

Friday, August 30, 2013 | 6:20 a.m. CDT; updated 9:22 a.m. CDT, Friday, August 30, 2013

JEFFERSON CITY — A judge has upheld the cost estimate and summary of a proposed Missouri ballot measure that seeks to limit interest, fees and finance charges on certain loans.

Cole County Circuit Judge Dan Green ruled this week that a cost estimate prepared by the state auditor and a summary written by the secretary of state are sufficient and fair. They had been challenged in lawsuits.

The initiative proposed for the 2014 ballot would limit interest and charges for loans such as consumer credit, installment, title and short-term loans. Supporters must gather enough signatures from registered voters by early May to get the measure on the November 2014 ballot.

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